N-PORT filing recap · May 2026

What did FPA Queens Road Small Cap Value Fund buy in May 2026?

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

$1.18B

Positions

Estimated turnover

11.0%

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 new positions in Dorman Products, The Bank of N.T. Butterfield & Son, and Unitil Corporation, while exiting CSG Systems International. It trimmed Vishay Intertechnology and Everus Construction Group, and added to First American Financial, JBT Marel, Eplus, and Five Star Bancorp.

New positions

DORMDorman Products, Inc.$29.89Mreported value+241.2K shares NTBThe Bank of N.t. Butterfield & Son Limited$12.91Mreported value+228.7K shares UTLUnitil Corporation$3.71Mreported value+74.1K shares

Increased positions

FAFFirst American Financial Corporation$29.11Mreported value+234.5K shares+114.4%JBTMJbt Marel Corporation$26.91Mreported value+27.2K shares+15.7%PLUSEplus Inc.$24.40Mreported value+65.1K shares+28.0%FSBCFive Star Bancorp$5.49Mreported value+10.0K shares

Reduced positions

VSHVishay Intertechnology, Inc.$66.71Mreported value-453.3K shares-26.1%ECGEverus Construction Group, Inc.$4.11Mreported value-15.9K shares-36.5%

Exited positions

CSGSCsg Systems International Inc$24.45Mprior reported value-306.0K shares-100.0%