LongHAYWOct 2026
Hayward Holdings, Inc.
Hayward sells pumps, heaters, filters and other residential pool equipment into an oligopolistic industry. Replacement and remodeling account for much of sales, supporting…
FPA Queens Road Small Cap Value Fund
Fundamental small-cap U.S. value investing focused on high-quality businesses and downside resilience.14 published ideas
FPA Queens Road Small Cap Value Fund invests primarily in small U.S. companies at reasonable valuations. Its managers emphasize patient, fundamental security selection and capital preservation through market cycles. In Q3 2026 they rotated from appreciated technology holdings into less followed businesses.
Ideas from FPA Queens Road Small Cap Value Fund
LongTFXOct 2026
Teleflex Incorporated
Teleflex owns a portfolio of catheters and surgical medical consumables. The fund invested after the company exited unrelated businesses, began deleveraging and brought in a new…
LongSSDOct 2026
Simpson Manufacturing Co., Inc.
Simpson occupies a dominant position in structural connectors, anchors, fasteners and related residential construction products. It has gained market share over time while…
LongUPBDOct 2026
Upbound Group, Inc.
Upbound provides subprime consumers with rent-to-own and point-of-sale financing through Rent-A-Center and Acima. Operations have held up in spite of consumer financial pressure…
LongTEXOct 2026
Terex Corporation
Terex makes specialist vehicles and equipment for emergency services, waste handling, utilities and materials processing. The fund obtained the holding through a transaction…
LongFCNOct 2026
FTI Consulting, Inc.
FTI Consulting generates much of its earnings from turnaround, restructuring, forensic and litigation advisory franchises. The fund views these businesses as countercyclical and…
LongFLOCOct 2026
Flowco Holdings Inc.
Flowco makes and rents specialized gas-lift and vapor-recovery equipment for U.S. onshore energy companies. The business is tied to ongoing production rather than just new well…
LongVSHOct 2026
Vishay Intertechnology, Inc.
Vishay supplies passive electronic components and discrete semiconductors across industrial and other markets. The fund sees stable industry competition, incremental…
LongSNXOct 2026
TD SYNNEX Corporation
TD SYNNEX is the largest global IT distributor and has broadened its mix toward software, cybersecurity and services. Its Hyve data-center unit is growing billings rapidly and is…
LongARWOct 2026
Arrow Electronics, Inc.
Arrow distributes a broad selection of semiconductors, generates substantial cash flow and has stronger financials than its closest competitor. After suffering from the cycle and…
LongLFUSOct 2026
Littelfuse, Inc.
Littelfuse manufactures specialized electrical protection, sensing and semiconductor products. The fund praises operating margins in the high teens, strong capital returns…
LongAAPOct 2026
Advance Auto Parts, Inc.
Advance Auto Parts is working through a turnaround in distribution, inventory, merchandising and stores. The fund sees an improved balance-sheet position and a credible…
LongJBTMOct 2026
JBT Marel Corporation
JBT Marel sells food-processing equipment into protein and packaged food and beverages. Aftermarket parts and services supply about half of sales, while end markets are…
LongSFMOct 2026
Sprouts Farmers Market, Inc.
Sprouts focuses on fresh, natural and organic groceries and has healthy operating margins, returns on capital and new-store economics. The fund trimmed when valuations rose and…
Letters covered
- FPA Queens Road Small Cap Value Fund 3Q 2026 CommentaryOctober 12, 2026
Source PDFs are not republished here; only extracted ideas and quotes.