Who owns First Advantage (FA)

How the tape is positioned

The tracked-fund tape on FA is one-sided between 2026-Q1 and 2026-Q2: 72 added or opened and 16 trimmed or exited — on balance accumulating.

A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.

Conviction spread

FA’s largest tracked holder by dollar value, Silver Lake Group, L.L.C., sizes it at 35.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 35.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.

Book-share is each fund’s reported value in FA divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.

Institutional & insider positioning

Between 2026-Q1 and 2026-Q2, across 164 tracked filers holding FA, 102 increased or opened the position and 77 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.

This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.

Ownership over time

Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.