Here’s What Lifted REV Group (REVG) in Q2

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund returned 8.60% compared to a 4.97% return for the Russell 2000 Value Index. Moreover, the Fund returned 5.87% YTD, compared to -3.16% for the index. Additionally, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its second-quarter 2025 investor letter, FPA Queens Road Small Cap Value Fund highlighted stocks such as REV Group, Inc. (NYSE:REVG). REV Group, Inc. (NYSE:REVG) manufactures and supplies specialty vehicles and related aftermarket parts and services. The one-month return of REV Group, Inc. (NYSE:REVG) was 13.50%, and its shares gained 76.37% of their value over the last 52 weeks.  On August 15, 2025, REV Group, Inc. (NYSE:REVG) stock closed at $52.31 per share, with a market capitalization of $2.553 billion.

FPA Queens Road Small Cap Value Fund stated the following regarding REV Group, Inc. (NYSE:REVG) in its second quarter 2025 investor letter:

“REV Group, Inc. (NYSE:REVG) is a specialty vehicle manufacturer. Most of the company’s value is in its municipal business where REV Group makes fire trucks and ambulances. REV Group has been reporting significant backlog and pricing growth in concert with Pierce Manufacturing (owned by Osh Kosh (OSK), another Fund holding), their primary competitor in the fire truck business. CEO Mark Skonieczny has led a significant operational restructuring, sold off the less profitable bus business and used the proceeds to buy back stock at attractive prices. The stock price has followed improving results and has performed well.”

In another article, we covered REV Group, Inc. (NYSE:REVG) 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 Q2 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.