| Fund Inception | 06/13/2002 |
| Name of Issuer | FPA |
| Fund Advisor(s) | First Pacific Advisors, LP |
| Sub-Advisor(s) | Bragg Financial Advisors Inc |
Fund Managers for QRSVX
Steven Scruggs
Portfolio Manager since 06/13/2002
Steve has served as portfolio manager for the Queens Road Small Cap Value and Queens Road Value Funds since inception in 2002. Steve joined Bragg Financial Advisors (BFA) in 1999 as a research analyst. Prior to his work with BFA, Steve worked as Product Manager for GMAC Insurance and Reliance Insurance Companies. He received his BA from North Carolina State University in 1992 and his MBA from Wake Forest University in 1996. Steve is a member of the CFA Institute and the North Carolina Society of Financial Analysts.
Benjamin Mellman
Portfolio Manager since 01/14/2026
Benjamin Mellman is a Portfolio Manager at Bragg Financial Advisors which is the Sub-Advisor for the FPA Queens Road Small Cap Value Fund and Queens Road Value Fund. Benjamin joined Bragg Financial Advisors (BFA) in 2022. Prior to joining the Queens Road Team, Ben spent 10 years at International Value Advisers (IVA). He was the senior analyst covering industrials and aero/defense with additional experience in financials, real estate, and TMT. Before joining IVA, Ben worked for RG Niederhoffer Capital Management, a managed futures fund, as a quantitative analyst and trader. Ben graduated from Columbia University with a BA in American History (honors) and a concentration in Physics in 2000. He received the Chanler Historical Prize (one awarded annually by faculty) and the Edwin Robbins Research Fellowship in American History (two annually). He earned his MBA from Columbia University in 2009.
