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FPA Queens Road Small Cap Value Fund’s Top Contributor: South Jersey Industries (SJI)

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund returned -5.72% compared to a -4.61 % return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, FPA discussed stocks like South Jersey Industries, Inc. (NYSE:SJI). Headquartered in Folsom, New Jersey, South Jersey Industries, Inc. (NYSE:SJI) engages in the business of energy-related products and services. On October 28, 2022, South Jersey Industries, Inc. (NYSE:SJI) stock closed at $34.90 per share. One-month return of South Jersey Industries, Inc. (NYSE:SJI) was 4.24% and its shares gained 48.01% of their value over the last 52 weeks. South Jersey Industries, Inc. (NYSE:SJI) has a market capitalization of $4.274 billion.

FPA made the following comment about South Jersey Industries, Inc. (NYSE:SJI) in its Q3 2022 investor letter:

"South Jersey Industries, Inc. (NYSE:SJI) shares rose approximately 40% on Feb. 24, 2022, on news that Infrastructure Investment Funds, a private equity fund managed by JP Morgan Investment Management, would take the company private. The deal is scheduled to close in the fourth quarter of 2022."

Best Industrial Dividend Stocks to Buy for 2021

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South Jersey Industries, Inc. (NYSE:SJI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held South Jersey Industries, Inc. (NYSE:SJI) at the end of the second quarter which was 36 in the previous quarter.

We discussed South Jersey Industries, Inc. (NYSE:SJI) in another article and shared the list of energy stocks to buy on the OPEC production cuts. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.