Qorvo Agreed to Be Acquired by Skyworks in Cash and Stock Deal
First Pacific Advisors’ FPA Queens Road Small Cap Value Fund investor letter reported a 27.02% return in the first half of 2026, with strong technology gains during an AI-driven rally. The fund trimmed appreciated technology positions and avoided certain SaaS names. It also notes that Qorvo agreed to be acquired by Skyworks in a cash and stock deal, prompting the sale of the holding.