SS

Steven Scruggs | QRSIX

Mutual Fund
FPA Queens Road Small Cap Value Fund
Last update 2023-07-14 53 Stocks (3 new)
Value $459.00 Mil Turnover 4 %
Countries:
Top Holdings: FN(5.78%) IDCC(5.07%) SNX(4.82%) AEL(3.93%) RLI(3.86%)
Portfolio Report

Steven Scruggs Profile

Steve joined Bragg Financial Advisors (BFA) in 1999 and serves as the Portfolio Manager for the FPA Queens Road Funds. He is the Director of Research for BFA and a member of the Investment Committee. Previously, Steve served as Product Manager for GMAC Insurance and Reliance Insurance Companies.

Steven Scruggs Investing Philosophy

The Queens Road Small Cap Value Fund uses fundamental, bottom-up analysis to construct a diversified portfolio of small-capitalization companies. The fund's research process is built on the principles established by Benjamin Graham to identify companies that are trading at a discount to their intrinsic value. The fund's investing process considers Quantitative & Qualitative Analysis, Balance Sheet, Valuation, Management, Sector and Industry.
Summary Stock Picks Current Portfolio
Discussions

Steven Scruggs Portfolio and Latest Trades

Type:
Ticker
Company
Date
Action
Impact %
Price Range
Price
Price Change from Avrg%
Comment
Current Shares
Share Change
MTZ 		MasTec Inc2023-06-30Reduce
-1.10%
●
85.2 ($97.88) 117.97
$72.82
-25.60%
Reduce -32.2%
106,607
-50,635
CRI 		Carter's Inc2023-06-30Sold Out
-0.97%
●
61.48 ($67.63) 72.6
$69.39
2.60%
Sold Out
0
-58,772
AX 		Axos Financial Inc2023-06-30Add
+0.87%
●
35.71 ($38.72) 42.55
$37.31
-3.64%
Add 100.64%
201,631
101,137
KBAL Kimball International Inc2023-06-30Sold Out
-0.71%
●
12.17 ($12.35) 12.59
$12.30
-0.40%
Sold Out
0
-248,837
LEVI 		Levi Strauss & Co2023-06-30New Buy
+0.65%
●
12.98 ($14.5) 18.23
$13.24
-8.69%
New holding
205,353
205,353
KNF 		Knife River Holding Co2023-06-30New Buy
+0.54%
●
35.02 ($42.43) 47.6
$49.65
17.02%
New holding
57,491
57,491
SFM 		Sprouts Farmers Market Inc2023-06-30Add
+0.47%
●
32.63 ($34.91) 37.86
$42.81
22.63%
Add 26.96%
274,478
58,280
SFBS 		Servisfirst Bancshares Inc2023-06-30Add
+0.39%
●
40.3 ($46.33) 54.63
$52.59
13.51%
Add 14.73%
339,754
43,631
SYNA 		Synaptics Inc2023-06-30Add
+0.37%
●
73.55 ($87.17) 111.15
$86.26
-1.04%
Add 21.74%
112,006
20,000
UGI 		UGI Corp2023-06-30Add
+0.29%
●
26.45 ($30.43) 35.34
$23.42
-23.04%
Add 14.12%
404,075
50,000
CNXC 		Concentrix Corp2023-06-30Add
+0.26%
●
80.75 ($93.97) 121.55
$79.03
-15.90%
Add 13.85%
123,309
15,000
ESGR 		Enstar Group Ltd2023-06-30Add
+0.23%
●
231.79 ($246.94) 268.31
$248.64
0.69%
Add 28.53%
19,084
4,236
HNI 		HNI Corp2023-06-30New Buy
+0.20%
●
24.9 ($26.6) 28.18
$34.85
31.02%
New holding
32,373
32,373
CSGS 		CSG Systems International Inc2023-06-30Add
+0.13%
●
47.8 ($51.13) 54.8
$51.42
0.57%
Add 6.24%
194,386
11,419
SJI South Jersey Industries Inc2023-02-28Sold Out
-2.93%
●
35.31 ($35.81) 36.11
$36.09
0.78%
Sold Out
0
-377,898
IAC 		IAC Inc2023-02-28Add
+1.96%
●
44.76 ($52.2) 59.13
$49.94
-4.33%
Add 272.03%
225,654
165,000
IAC 		IAC Inc2023-02-28Add
+1.96%
●
44.76 ($52.2) 59.13
$49.94
-4.33%
Add 272.03%
225,654
165,000
AAWW 		Atlas Air Worldwide Holdings Inc2023-02-28Sold Out
-1.82%
●
99.08 ($101.6) 102.48
$102.48
0.87%
Sold Out
0
-80,949
MDU 		MDU Resources Group Inc2023-02-28New Buy
+1.61%
●
28.66 ($30.56) 32.08
$19.77
-35.31%
New holding
229,966
229,966
MDU 		MDU Resources Group Inc2023-02-28New Buy
+1.61%
●
28.66 ($30.56) 32.08
$19.77
-35.31%
New holding
229,966
229,966
AEL 		American Equity Investment Life Holding Co2023-02-28Reduce
-1.33%
●
33.09 ($42.51) 47.87
$53.85
26.68%
Reduce -29.88%
346,132
-147,466
AEL 		American Equity Investment Life Holding Co2023-02-28Reduce
-1.33%
●
33.09 ($42.51) 47.87
$53.85
26.68%
Reduce -29.88%
346,132
-147,466
MTZ 		MasTec Inc2023-02-28Reduce
-1.22%
●
86.27 ($95.07) 102.38
$72.82
-23.40%
Reduce -27.7%
157,242
-60,242
MTZ 		MasTec Inc2023-02-28Reduce
-1.22%
●
86.27 ($95.07) 102.38
$72.82
-23.40%
Reduce -27.7%
157,242
-60,242
UNFI 		United Natural Foods Inc2023-02-28Add
+0.61%
●
22.59 ($36.45) 43.77
$13.77
-62.22%
Add 40.5%
351,782
101,411
UNFI 		United Natural Foods Inc2023-02-28Add
+0.61%
●
22.59 ($36.45) 43.77
$13.77
-62.22%
Add 40.5%
351,782
101,411
OSK 		Oshkosh Corp2023-02-28Add
+0.48%
●
77.13 ($90.74) 106.02
$95.79
5.57%
Add 20.73%
145,597
25,000
OSK 		Oshkosh Corp2023-02-28Add
+0.48%
●
77.13 ($90.74) 106.02
$95.79
5.57%
Add 20.73%
145,597
25,000
DAR 		Darling Ingredients Inc2023-02-28Add
+0.47%
●
52.9 ($62.86) 68.47
$52.23
-16.91%
Add 28.14%
159,398
35,000
DAR 		Darling Ingredients Inc2023-02-28Add
+0.47%
●
52.9 ($62.86) 68.47
$52.23
-16.91%
Add 28.14%
159,398
35,000
ESGR 		Enstar Group Ltd2023-02-28Add
+0.37%
●
218.57 ($236.81) 246.97
$248.64
5.00%
Add 87.88%
14,848
6,945
ESGR 		Enstar Group Ltd2023-02-28Add
+0.37%
●
218.57 ($236.81) 246.97
$248.64
5.00%
Add 87.88%
14,848
6,945
CSGS 		CSG Systems International Inc2023-02-28Add
+0.33%
●
50.24 ($56.88) 61.92
$51.42
-9.60%
Add 17.19%
182,967
26,845
CSGS 		CSG Systems International Inc2023-02-28Add
+0.33%
●
50.24 ($56.88) 61.92
$51.42
-9.60%
Add 17.19%
182,967
26,845
UGI 		UGI Corp2023-02-28Add
+0.32%
●
32.68 ($37.91) 42.62
$23.42
-38.22%
Add 12.74%
354,075
40,000
UGI 		UGI Corp2023-02-28Add
+0.32%
●
32.68 ($37.91) 42.62
$23.42
-38.22%
Add 12.74%
354,075
40,000
SCHL 		Scholastic Corp2023-02-28Add
+0.29%
●
32.12 ($42.62) 46.69
$38.37
-9.97%
Add 17.38%
251,313
37,204
SCHL 		Scholastic Corp2023-02-28Add
+0.29%
●
32.12 ($42.62) 46.69
$38.37
-9.97%
Add 17.38%
251,313
37,204
VSH 		Vishay Intertechnology Inc2023-02-28Add
+0.26%
●
20.77 ($21.98) 24.28
$24.62
12.01%
Add 11.25%
494,634
50,000
VSH 		Vishay Intertechnology Inc2023-02-28Add
+0.26%
●
20.77 ($21.98) 24.28
$24.62
12.01%
Add 11.25%
494,634
50,000
LTHM 		Livent Corp2023-02-28Add
+0.25%
●
18.97 ($23.12) 27.39
$18.11
-21.67%
Add 29.51%
219,440
50,000
LTHM 		Livent Corp2023-02-28Add
+0.25%
●
18.97 ($23.12) 27.39
$18.11
-21.67%
Add 29.51%
219,440
50,000
CNO 		CNO Financial Group Inc2023-02-28Add
+0.24%
●
20.96 ($23.9) 26.11
$24.01
0.46%
Add 12.22%
431,791
47,036
CNO 		CNO Financial Group Inc2023-02-28Add
+0.24%
●
20.96 ($23.9) 26.11
$24.01
0.46%
Add 12.22%
431,791
47,036
SFM 		Sprouts Farmers Market Inc2023-02-28Add
+0.24%
●
30.12 ($32.36) 35.03
$42.81
32.29%
Add 16.11%
216,198
30,000
SFM 		Sprouts Farmers Market Inc2023-02-28Add
+0.24%
●
30.12 ($32.36) 35.03
$42.81
32.29%
Add 16.11%
216,198
30,000
SYNA 		Synaptics Inc2023-02-28Add
+0.14%
●
92.58 ($115.26) 139.84
$86.26
-25.16%
Add 6.41%
92,006
5,546
SYNA 		Synaptics Inc2023-02-28Add
+0.14%
●
92.58 ($115.26) 139.84
$86.26
-25.16%
Add 6.41%
92,006
5,546
CNXC 		Concentrix Corp2023-02-28Add
+0.12%
●
117.63 ($135.8) 151.4
$79.03
-41.80%
Add 4.27%
108,309
4,437
CNXC 		Concentrix Corp2023-02-28Add
+0.12%
●
117.63 ($135.8) 151.4
$79.03
-41.80%
Add 4.27%
108,309
4,437
AX 		Axos Financial Inc2023-02-28Add
+0.04%
●
34 ($43.14) 51.14
$37.31
-13.51%
Add 5.1%
100,494
4,879
AX 		Axos Financial Inc2023-02-28Add
+0.04%
●
34 ($43.14) 51.14
$37.31
-13.51%
Add 5.1%
100,494
4,879
GIII 		G-III Apparel Group Ltd2023-02-28Add
+0.03%
●
13.97 ($15.67) 17.22
$24.90
58.90%
Add 2.11%
348,636
7,220
KBAL Kimball International Inc2023-02-28Add
+0.02%
●
6.69 ($8.61) 12.58
$12.30
42.86%
Add 2.51%
248,837
6,087
KBAL Kimball International Inc2023-02-28Add
+0.02%
●
6.69 ($8.61) 12.58
$12.30
42.86%
Add 2.51%
248,837
6,087
ESAB 		ESAB Corp2023-02-28Sold Out
-0.02%
●
48.51 ($57.28) 61.8
$70.89
23.76%
Sold Out
0
-1,941
UPBD 		Upbound Group Inc2023-02-28Add
0%
●
22.23 ($25.74) 29.99
$29.85
15.97%
Add 0.28%
150,418
418
UPBD 		Upbound Group Inc2023-02-28Add
0%
●
22.23 ($25.74) 29.99
$29.85
15.97%
Add 0.28%
150,418
418
SFBS 		Servisfirst Bancshares Inc2023-02-28Reduce
0%
●
53.41 ($67.03) 74.27
$52.59
-21.54%
Reduce -0.08%
296,123
-241
SFBS 		Servisfirst Bancshares Inc2023-02-28Reduce
0%
●
53.41 ($67.03) 74.27
$52.59
-21.54%
Reduce -0.08%
296,123
-241
CNO 		CNO Financial Group Inc2022-11-30Reduce
-1.04%
●
17.72 ($20.23) 23.48
$24.01
18.69%
Reduce -38.92%
384,755
-245,180
SYNA 		Synaptics Inc2022-11-30Reduce
-0.96%
●
82.54 ($99.6) 122.23
$86.26
-13.39%
Reduce -29.4%
86,460
-36,000
UPBD 		Rent-A-Center Inc2022-11-30New Buy
+0.81%
●
17.28 ($21.85) 26.93
$29.85
36.61%
New holding
150,000
150,000
QRVO 		Qorvo Inc2022-11-30Reduce
-0.78%
●
78.34 ($87.5) 99.25
$95.47
9.11%
Reduce -55.05%
30,601
-37,479
EQC 		Equity Commonwealth2022-11-30Reduce
-0.65%
●
23.95 ($25.72) 27.25
$18.42
-28.38%
Reduce -54.91%
88,505
-107,801
FN 		Fabrinet2022-11-30Add
+0.60%
●
91.08 ($108.72) 133.41
$167.90
54.43%
Add 10.85%
204,357
20,000
UGI 		UGI Corp2022-11-30Add
+0.52%
●
31.76 ($35.79) 40.84
$23.42
-34.56%
Add 23.86%
314,075
60,500
SNX 		TD Synnex Corp2022-11-30Add
+0.50%
●
81.19 ($91.6) 103.07
$101.48
10.79%
Add 10.13%
235,369
21,657
CSGS 		CSG Systems International Inc2022-11-30Reduce
-0.45%
●
52.44 ($57.97) 65.01
$51.42
-11.30%
Reduce -17.84%
156,122
-33,908
AEL 		American Equity Investment Life Holding Co2022-11-30Reduce
-0.44%
●
32.99 ($38.63) 43.08
$53.85
39.40%
Reduce -9.2%
493,598
-50,000
HMN 		Horace Mann Educators Corp2022-11-30Reduce
-0.36%
●
35.03 ($37.29) 39.67
$29.80
-20.09%
Reduce -10.48%
373,108
-43,668
UNFI 		United Natural Foods Inc2022-11-30Add
+0.35%
●
33.54 ($41.58) 47.68
$13.77
-66.88%
Add 14.87%
250,371
32,417
OMI 		Owens & Minor Inc2022-11-30Reduce
-0.34%
●
15.1 ($21.62) 29.51
$16.23
-24.93%
Reduce -20.69%
192,859
-50,306
THS 		Treehouse Foods Inc2022-11-30Add
+0.32%
●
40.98 ($46.38) 50.58
$43.68
-5.82%
Add 27.27%
136,116
29,168
CNXC 		Concentrix Corp2022-11-30Add
+0.30%
●
109.76 ($119.72) 129.22
$79.03
-33.99%
Add 11.75%
103,872
10,922
MATV 		Mativ Holdings Inc2022-11-30Reduce
-0.28%
●
18.97 ($22.89) 25.77
$14.11
-38.36%
Reduce -18.11%
231,233
-51,152
OSK 		Oshkosh Corp2022-11-30Reduce
-0.28%
●
70.29 ($82.21) 93.74
$95.79
16.52%
Reduce -11.06%
120,597
-15,000
PVH 		PVH Corp2022-11-30Reduce
-0.28%
●
44.8 ($53.59) 67.18
$75.17
40.27%
Reduce -13.87%
136,226
-21,940
IAC 		IAC Inc2022-11-30Add
+0.24%
●
43.87 ($53.21) 69.77
$49.94
-6.15%
Add 51.05%
60,654
20,500
SCHL 		Scholastic Corp2022-11-30Add
+0.18%
●
29.08 ($37.92) 47.41
$38.37
1.19%
Add 10.3%
214,109
20,000
SFM 		Sprouts Farmers Market Inc2022-11-30Add
+0.18%
●
26.36 ($29.38) 34.33
$42.81
45.71%
Add 14.25%
186,198
23,218
ESAB 		ESAB Corp2022-11-30Reduce
-0.14%
●
32.59 ($38.51) 47.34
$70.89
84.08%
Reduce -88.56%
1,941
-15,033
ARW 		Arrow Electronics Inc2022-08-31Add
+1.09%
●
104.81 ($114.77) 128.17
$128.97
12.37%
Add 143.81%
76,065
44,866
UGI 		UGI Corp2022-08-31Add
+1.07%
●
37.65 ($40.78) 44.54
$23.42
-42.57%
Add 86.44%
253,575
117,564
DAR 		Darling Ingredients Inc2022-08-31Add
+1.03%
●
56.81 ($69.7) 87.18
$52.23
-25.06%
Add 88.95%
124,398
58,560
CNXC 		Concentrix Corp2022-08-31Add
+0.79%
●
123.67 ($137.14) 161.86
$79.03
-42.37%
Add 41.06%
92,950
27,055
CFG 		Citizens Financial Group Inc2022-08-31Sold Out
-0.75%
●
34.93 ($37.45) 41.09
$26.35
-29.64%
Sold Out
0
-77,454
QRVO 		Qorvo Inc2022-08-31Add
+0.52%
●
89.78 ($101.51) 113.36
$95.47
-5.95%
Add 58.03%
68,080
25,000
AAWW 		Atlas Air Worldwide Holdings Inc2022-08-31Add
+0.48%
●
59.05 ($77.44) 100.64
$102.48
32.33%
Add 34.25%
80,949
20,654
AEL 		American Equity Investment Life Holding Co2022-08-31Reduce
-0.47%
●
33.83 ($37.85) 42.64
$53.85
42.27%
Reduce -8.42%
543,598
-50,000
AX 		Axos Financial Inc2022-08-31Reduce
-0.45%
●
34.31 ($39.83) 47.52
$37.31
-6.33%
Reduce -34.34%
95,615
-50,007
IAC 		IAC Inc2022-08-31Add
+0.37%
●
63.87 ($75.64) 90.11
$49.94
-33.98%
Add 164.97%
40,154
25,000
FN 		Fabrinet2022-08-31Add
+0.36%
●
75.5 ($91.21) 117.35
$167.90
84.08%
Add 8.91%
184,357
15,085
ESGR 		Enstar Group Ltd2022-08-31New Buy
+0.35%
●
188.7 ($203.16) 226.57
$248.64
22.39%
New holding
7,903
7,903
OMI 		Owens & Minor Inc2022-08-31Add
+0.34%
●
29.51 ($32.81) 36.64
$16.23
-50.53%
Add 25.88%
243,165
50,000
MTG 		MGIC Investment Corp2022-08-31Add
+0.33%
●
11.42 ($13.69) 15.56
$16.94
23.74%
Add 20.2%
595,000
100,000
SYNA 		Synaptics Inc2022-08-31Add
+0.28%
●
114.06 ($131.81) 154.13
$86.26
-34.56%
Add 9.43%
122,460
10,549
PVH 		PVH Corp2022-08-31Add
+0.26%
●
55.12 ($63.07) 72.47
$75.17
19.19%
Add 14.48%
158,166
20,000
GIII 		G-III Apparel Group Ltd2022-08-31Add
+0.24%
●
19.77 ($22.51) 27.36
$24.90
10.62%
Add 17.16%
341,416
50,000
CSGS 		CSG Systems International Inc2022-08-31Add
+0.15%
●
55.03 ($59.57) 65.73
$51.42
-13.68%
Add 6.06%
190,030
10,864
100/Page
Total 159
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