Insights from the Fourth Quarter 2024 N-PORT Filing

Steven Scruggs (Trades, Portfolio) recently submitted the N-PORT filing for the fourth quarter of 2024, providing insights into his investment moves during this period. 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. 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 of New Buy

Steven Scruggs (Trades, Portfolio) added a total of 2 stocks, among them:

• The most significant addition was Everus Construction Group Inc (ECG, Financial), with 139,479 shares, accounting for 1.26% of the portfolio and a total value of $9.17 million.
• The second largest addition to the portfolio was Five Star Bancorp (FSBC, Financial), consisting of 24,894 shares, representing approximately 0.1% of the portfolio, with a total value of $749,060.

Key Position Increases

Steven Scruggs (Trades, Portfolio) also increased stakes in a total of 17 stocks, among them:

• The most notable increase was AGCO Corp (AGCO, Financial), with an additional 156,442 shares, bringing the total to 171,313 shares. This adjustment represents a significant 1,051.99% increase in share count, a 2% impact on the current portfolio, with a total value of $16,014,340.
• The second largest increase was Science Applications International Corp (SAIC, Financial), with an additional 102,140 shares, bringing the total to 201,610. This adjustment represents a significant 102.68% increase in share count, with a total value of $22,535,970.

Key Position Reduces

Steven Scruggs (Trades, Portfolio) also reduced positions in 5 stocks. The most significant changes include:

• Reduced InterDigital Inc (IDCC, Financial) by 76,720 shares, resulting in a -27.81% decrease in shares and a -1.59% impact on the portfolio. The stock traded at an average price of $175.36 during the quarter and has returned 16.71% over the past 3 months and -7.37% year-to-date.
• Reduced CSW Industrials Inc (CSWI, Financial) by 25,000 shares, resulting in a -48.92% reduction in shares and a -1.34% impact on the portfolio. The stock traded at an average price of $389.29 during the quarter and has returned -4.23% over the past 3 months and 6.79% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Steven Scruggs (Trades, Portfolio)'s portfolio included 51 stocks, with top holdings including 5.28% in InterDigital Inc (IDCC), 4.57% in TD Synnex Corp (SNX, Financial), 4.47% in Servisfirst Bancshares Inc (SFBS, Financial), 4.43% in Sprouts Farmers Market Inc (SFM, Financial), and 3.99% in Fabrinet (FN, Financial).

The holdings are mainly concentrated in 9 of all the 11 industries: Technology, Financial Services, Industrials, Consumer Cyclical, Consumer Defensive, Utilities, Communication Services, Basic Materials, and Real Estate.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.