FPA Queens Road Small Cap Value Fund
QRSVX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Michael W. Roberge
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles, CA 90064 Boston MA United States of America 02199
- IPO Date
- Jun 13, 2002
- CIK
- 0001170611
- Website
- mfs.com
- Similar Companies
- Business
- FPA Queens Road Small Cap Value Fund (QRSVX) is an open-end mutual fund that seeks long-term capital growth by investing primarily in equity securities, including common stocks, preferred stocks, and convertible securities, of small-capitalization U.S. companies defined as those with market capitalizations no greater than the largest company in the Russell 2000 Value Index; it employs a fundamental, bottom-up value-oriented strategy rooted in Benjamin Graham principles to identify quality businesses trading at discounts to intrinsic value, emphasizing strong balance sheets, attractive valuations, consistent earnings, high returns on capital, and capable management teams in stable industries. The fund offers Investor Class (QRSVX), Advisor Class (QRSIX), and Institutional Class (QRSAX) shares with total annual operating expenses of 0.94%, 0.88%, and 0.80%, respectively, and maintains a diversified portfolio with low turnover of approximately 13%; top holdings as of recent periods include TD Synnex Corp, Fabrinet, Sprouts Farmers Market, PVH Corp, ServisFirst Bancshares, RLI Corp, Axos Financial, and Oshkosh Corp across sectors such as technology, consumer defensive, financial services, and industrials. First Pacific Advisors, LP serves as the investment adviser and Bragg Financial Advisors, Inc. as the sub-adviser, with Steve Scruggs, CFA, as the sole portfolio manager since the fund's inception on June 13, 2002; the adviser is headquartered in Los Angeles, California, while the sub-adviser operates from Charlotte, North Carolina, and the fund is available to U.S. investors with a minimum initial investment of $1,500 for Investor Class shares. In recent developments, the fund experienced a portfolio rebalancing in the third quarter of 2025, including significant additions to positions in Nelnet (NNI), RLI Corp (RLI), and Ingles Markets (IMKTA), alongside trims in Fabrinet (FN) and Sprouts Farmers Market (SFM) due to valuation considerations, and a complete exit from Treehouse Foods (THS) amid operational challenges; a approximately 3% position in Enstar Group (ESGR) was realized upon its acquisition by Sixth Street, completed on July 2, 2025, contributing to a cash position of 10.1% at quarter-end. Prior to November 1, 2020, Bragg Financial Advisors served as investment adviser with a unitized fee structure limiting expenses to 1.18%, after which First Pacific Advisors assumed the advisory role while retaining Bragg as sub-adviser; from inception through December 31, 2004, the sub-adviser voluntarily waived fees and absorbed expenses to support early performance. The fund reported a 7.46% return for Q3 2025 versus 12.60% for the Russell 2000 Value Index, and 13.77% year-to-date through September 30, 2025, outperforming the benchmark amid volatile markets, with total net assets of approximately $1.07 billion.