Fort Pitt Capital Total Return Fund
FPCGX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Abigail Johnson
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Milwaukee WI 53202 Boston MA United States of America 02210
- IPO Date
- Jan 3, 2002
- CIK
- 0001158727
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fort Pitt Capital Total Return Fund (FPCGX) is an open-end mutual fund that seeks long-term capital appreciation and current income through maximum total return by investing primarily in common stocks of large- and mid-capitalization U.S. companies deemed undervalued based on price-to-earnings ratios and exhibiting strong returns on equity; it also allocates flexibly to investment-grade fixed income securities, including U.S. government obligations, American Depositary Receipts, and up to 10% in other mutual funds or exchange-traded funds. The fund employs a buy-and-hold strategy to minimize turnover and enhance after-tax returns, with a portfolio turnover rate of 19% in the most recent fiscal year, and maintains total net assets of approximately $62 million as of mid-2025. Managed by Dan Eye since 2021 under the advisory of Fort Pitt Capital Group, LLC (d/b/a Kovitz Investment Group Partners following recent integration), headquartered in Pittsburgh, Pennsylvania, the fund traces its origins to a predecessor launched on December 31, 2001, and operates within the large blend category targeting U.S. investors through broker-dealers and financial intermediaries with a minimum initial investment of $2,500. In late 2024, Fort Pitt Capital Group, the fund's longtime advisor founded in 1995, merged with Kovitz Investment Group Partners, LLC—a Chicago-based firm and subsidiary of Focus Financial Partners—enhancing client service offerings, investment resources, and operational scale while bringing Kovitz's assets under management to nearly $30 billion; the transaction closed in the fourth quarter of 2024, with Fort Pitt's leadership and advisors integrating into Kovitz. This strategic alliance reflects Focus Financial's ongoing consolidation of its RIA network post its 2023 acquisition by Clayton, Dubilier & Rice and Stone Point Capital, positioning the combined entity to deliver expanded portfolio management, financial planning, and fiduciary wealth management services to high-net-worth individuals and institutions across the United States. The fund underwent a tax-free reorganization on June 28, 2024, acquiring the assets and liabilities of its predecessor series within Advisors Series Trust, assuming its performance history while maintaining identical investment objectives and strategies under the new structure advised by Fort Pitt Capital Group, LLC. Geographically focused on U.S. equities (99%+ allocation) with top holdings in sectors like technology, financial services, industrials, and healthcare—including Microsoft, Parker-Hannifin, and Broadcom—the fund serves taxable and tax-deferred accounts amid a net expense ratio of 1.00% after waivers through at least February 2026.