Qorvo (QRVO) Agreed to Be Acquired by Skyworks

Qorvo (QRVO), a company that creates radio-frequency and connectivity solutions, announced it would be acquired by Skyworks (SWKS) in late 2025. This acquisition resulted in FPA Queens Road Small Cap Value Fund selling its position in Qorvo. The fund's technology holdings, which contributed 14.87 percentage points to the fund's returns, gained 72.39% in the first half of 2026, while the sector as a whole surged nearly 100%.

FPA Queens Road Small Cap Value Fund's decision to sell Qorvo aligns with their belief that some AI stocks have greater potential for higher returns and can be achieved more quickly. The fund also trimmed appreciated technology holdings amid the AI-driven rally.