Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund returned -2.51% compared to a -7.74% return for the Russell 2000 Value Index. President Trump announced his tariffs on April 2nd, causing equity markets to decline sharply and increasing volatility. Additionally, you can check the fund’s top 5 holdings to determine its best picks for 2025.
In its first-quarter 2025 investor letter, FPA Queens Road Small Cap Value Fund highlighted stocks such as Vishay Intertechnology, Inc. (NYSE:VSH). Vishay Intertechnology, Inc. (NYSE:VSH) manufactures and sells discrete semiconductors and passive electronic components. The one-month return of Vishay Intertechnology, Inc. (NYSE:VSH) was 21.64%, and its shares lost 39.95% of their value over the last 52 weeks. On May 21, 2025, Vishay Intertechnology, Inc. (NYSE:VSH) stock closed at $14.28 per share with a market capitalization of $1.936 billion.
FPA Queens Road Small Cap Value Fund stated the following regarding Vishay Intertechnology, Inc. (NYSE:VSH) in its Q1 2025 investor letter:
“Vishay Intertechnology, Inc. (NYSE:VSH) makes passive electronic components and discrete semiconductors (resistors, inductors, capacitors, MOSFETs, diodes, etc). Although the industry is cyclical, competitive dynamics are stable and VSH benefits from incremental growth from electric vehicles and industrial electrification. The industry is currently struggling from a cyclical downturn following the excesses and component hoarding of the Covid era. Additionally, at its April 2024 Investor Day, Vishay announced very aggressive 2028 investment and profitability targets with a plan to strategically change the company’s culture that was notably staid and overly-conservative. We are cautiously optimistic about Vishay’s growth plans and have been adding to the position during this cyclical weakness.”
A close-up of discrete semiconductors in a manufacturing lab.
Vishay Intertechnology, Inc. (NYSE:VSH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Vishay Intertechnology, Inc. (NYSE:VSH) at the end of the fourth quarter compared to 25 in the third quarter. Vishay Intertechnology, Inc. (NYSE:VSH) reported first-quarter revenue of $715 million, surpassing the midpoint of its guidance and remaining stable compared to Q4 for both semiconductors and passives. While we acknowledge the potential of Vishay Intertechnology, Inc. (NYSE:VSH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains.
In another article, we covered Vishay Intertechnology, Inc. (NYSE:VSH) and shared FPA Queens Road Small Cap Value Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2025 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.
