TD Synnex (SNX) Is Benefitting By Diversifying into Software, Security, And Services

2 hours ago 1

Soumya Eswaran

Mon, May 11, 2026 astatine 8:54 AM CDT 3 min read

Investment absorption company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” first-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. In a volatile but affirmative quarter, the FPA Queens Road Small Cap Value Fund (“Fund”) returned 6.07%, beating the Russell 2000 Value Index’s 4.96%. The Fund expects amended show successful down markets and underperformance successful speculative ones owed to its disciplined approach. Amid ongoing planetary commodity shocks, governmental issues, and economical fallout from the Iran conflict, the missive discusses small-caps and the firm's semipermanent concern strategy. In Q1, the money continued to rebalance the portfolio towards higher-quality holdings, focusing connected equilibrium expanse strength, net consistency, and returns connected capital. In addition, delight cheque the Fund’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, FPA Queens Road Small Cap Value Fund highlighted TD SYNNEX Corporation (NYSE:SNX). TD SYNNEX Corporation (NYSE:SNX) is simply a starring distributor and solutions aggregator for the accusation exertion (IT) ecosystem. On May 8, 2026, TD SYNNEX Corporation (NYSE:SNX) closed astatine $239.07 per share. One-month instrumentality of TD SYNNEX Corporation (NYSE:SNX) was 19.51%, and its shares gained 96.51% implicit the past 52 weeks. TD SYNNEX Corporation (NYSE:SNX) has a marketplace capitalization of $19.52 billion.

FPA Queens Road Small Cap Value Fund stated the pursuing regarding TD SYNNEX Corporation (NYSE:SNX) successful its Q1 2026 capitalist letter:

"TD SYNNEX Corporation (NYSE:SNX) is the largest IT distributor globally. The institution has done a bully occupation diversifying distant from its humanities presumption successful hardware (PCs, peripherals, servers, networking equipment, etc.) and into software, information and services. TD Synnex is modestly levered and uses its currency travel to repurchase shares and wage dividends. The institution reported blow-out net connected Mar 31, which caused the banal terms to jump.10 We deliberation that TD Synnex is exceptionally good run, has standard and scope advantages against smaller competitors and that profits volition proceed to turn with IT spending astatine a GDP+ rate. SNX trades astatine astir 11x guardant net and continues to beryllium a apical 5 holding for the Fund."

Goldman Starts TD SYNNEX (SNX) Coverage, Sees FY26 Billings Growth of 10%

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