First Pacific Advisors released its third-quarter 2025 investor letter for the FPA Queens Road Small Cap Value Fund, showing a 7.46% return in Q3 and 13.77% return in the first three quarters of 2025, outperforming the Russell 2000 Value Index. The fund focuses on a diligent, disciplined, and patient process, expecting to outperform in down markets.

TD SYNNEX Corporation (NYSE:SNX) was highlighted in the FPA Queens Road Small Cap Value Fund’s Q3 2025 investor letter. The company is a leading IT distributor, with a one-month return of -5.70% and shares gaining 20.89% over the last 52 weeks. On November 21, 2025, SNX stock closed at $146.24 per share with a market cap of $12.06 billion.

In the investor letter, FPA Queens Road Small Cap Value Fund praised TD SYNNEX Corporation (NYSE:SNX) as the largest global IT distributor, adding value through outsourced sales force services and IT consulting. The company’s shares are still attractive at a valuation of roughly 12x this year’s earnings, with billings growth rebounding to a double-digit rate.

TD SYNNEX Corporation (NYSE:SNX) is not among the 30 Most Popular Stocks Among Hedge Funds, with 36 hedge fund portfolios holding SNX at the end of Q2 2025. In Q3 2025, SNX reported $15.7 billion in revenue, a 7% increase year over year. While acknowledging its potential, certain AI stocks offer greater upside potential and less downside risk.

Read more at Yahoo Finance: What Makes TD Synnex (SNX) an Attractive Stock?