A repair compound for use in all applications and particularly well-suited for large hole repair. The repair compound includes a latex resin, a thickener, fibers, and a filler material. In some embodiments, the repair compound is configured to exhibit pseudoplastic-type behavior. In some embodiments, the repair compound has a density of not greater than 4.0 lbs/gal. In some embodiments, the repair compound includes hydrophobic and hydrophilic fibers of different morphologies. In some embodiments, the repair compound includes HASE-type thickeners. In some embodiments, the repair compound includes a bimodal distribution of hollow glass microspheres from two different strength/size curves.