N-PORT filing recap · August 2024

What did FPA Queens Road Small Cap Value Fund buy in August 2024?

Reported stock-position changes between this filing and the previous one. These are FPA Queens Road Small Cap Value Fund's own holdings, not the firm's.

Stock value

$679.85M

Positions

Estimated turnover

4.2%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Period in review

FPA Queens Road Small Cap Value Fund opened a new position in Advance Auto Parts. It trimmed Sprouts Farmers Market, Horace Mann Educators, and Deckers Outdoor, while adding to MSC Industrial Direct. Slight reductions were made to Interdigital and TD Synnex, with modest increases in Jbt Marel, MDU Resources, and G III Apparel.

New positions

AAPAdvance Auto Parts, Inc.$8.72Mreported value+192.5K shares

Increased positions

MSMMsc Industrial Direct Co., Inc.$21.26Mreported value+65.0K shares+33.6%JBTMJbt Marel Corporation$13.86Mreported value+2.2K shares+1.5%MDUMdu Resources Group, Inc.$13.54Mreported value+25.0K shares+5.0%GIIIG III Apparel Group Ltd /de/$12.63Mreported value+30.0K shares

Reduced positions

IDCCInterdigital, Inc.$38.91Mreported value-3.8K shares-1.3%SNXTD Synnex Corporation$34.51Mreported value-19.8K shares-6.5%SFMSprouts Farmers Market, Inc.$31.72Mreported value-48.9K shares-13.8%HMNHorace Mann Educators Corporation$13.03Mreported value-75.0K shares