FPFIX — FPA Flexible Fixed Income Fund
Data updated: 2026-08-26
FPFIX — FPA Flexible Fixed Income Fund. Intermediate Securitized (MBS/ABS/CMBS) Bond · $2.16B AUM. Holdings, fees, performance and SEC filings.
FPFIX Fund Overview
FPFIX — FPA Flexible Fixed Income Fund is a US mutual fund managed by Investment Managers Series Trust III, categorised as Intermediate Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust III
- Category: Intermediate Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $2.16B
- 1-year return: 3.4%
- Ticker: FPFIX
- SEC CIK: 0000924727
- SEC series ID: S000064044
- Share class ID: C000207154
FPFIX Holdings
Top 10 holdings of FPA Flexible Fixed Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| US Treasury N/b | 8.60% |
| US Treasury N/b | 8.43% |
| US Treasury N/b | 8.10% |
| US Treasury N/b | 5.58% |
| Treasury Bill | 4.04% |
| Treasury Bill | 3.16% |
| Tsy Infl Ix N/b | 1.52% |
| US Treasury N/b | 1.43% |
| JP Morgan Mortgage Trust | 0.87% |
| Treasury Bill | 0.72% |
FPFIX Portfolio Allocation
Asset-class allocation of FPA Flexible Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 50.2% |
| Fixed Income | 48.1% |
| Loans | 0.7% |
| Cash & Equivalents | 0.6% |
| Equity | 0.1% |
FPFIX Performance
Total returns for FPFIX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.4% |
| 1 year | 3.4% |
| 3 years (annualised) | 6.1% |
| 5 years (annualised) | 3.8% |
FPFIX Risk Information
Risk metrics for FPFIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.3%
FPFIX Costs and Fees
FPFIX costs about $55 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.55%
- Gross expense ratio: 0.63%
- Portfolio turnover: 48%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FPFIX Cashflows
Over the 12 months to 2026-06, FPA Flexible Fixed Income Fund had net inflows of $604.09M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $16.05M |
| 2026-05 | $53.22M |
| 2026-04 | $23.41M |
| 2026-03 | $53.55M |
| 2026-02 | $63.09M |
| 2026-01 | $48.97M |
FPFIX Debt Constituents
Largest debt holdings of FPA Flexible Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| US Treasury N/b | 8.60% |
| US Treasury N/b | 8.43% |
| US Treasury N/b | 8.10% |
| US Treasury N/b | 5.58% |
| Treasury Bill | 4.04% |
| Treasury Bill | 3.16% |
| Tsy Infl Ix N/b | 1.52% |
| US Treasury N/b | 1.43% |
| Treasury Bill | 0.72% |
| Sce Recovery Funding LLC | 0.60% |
FPFIX Prospectus and SEC Filings
Official FPA Flexible Fixed Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-06-30
- Prospectus (485BPOS) — filed 2025-04-30
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-22
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-11
Related Funds
Other Intermediate Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.