Investment objective & strategy
As of April 29, 2025 · prospectusObjective. The investment objective of Ancora MicroCap Fund (the Fund) is to obtain capital appreciation.
Strategy. Under normal circumstances, at least 80% of the assets of the Fund will be invested in equity securities of companies whose equity securities have a total market value of under $700,000,000. Equity securities consist of common stock, preferred stock and securities convertible into common or preferred stock. The Fund emphasizes a value style of investing. In deciding which securities to buy and which to sell, the Advisor will give primary consideration to fundamental factors. For example, securities having relatively low ratios of share price to book value, net asset value, earnings and cash flow will generally be considered attractive investments. Additionally, the Advisor will give secondary consideration to insider transactions and the growth of earnings. As a result of its … Under normal circumstances, at least 80% of the assets of the Fund will be invested in equity securities of companies whose equity securities have a total market value of under $700,000,000. Equity securities consist of common stock, preferred stock and securities convertible into common or preferred stock. The Fund emphasizes a value style of investing. In deciding which securities to buy and which to sell, the Advisor will give primary consideration to fundamental factors. For example, securities having relatively low ratios of share price to book value, net asset value, earnings and cash flow will generally be considered attractive investments. Additionally, the Advisor will give secondary consideration to insider transactions and the growth of earnings. As a result of its focus on small companies and its intent to take short-term positions in certain equity securities, this Fund may be considered to be more aggressive than other mutual funds having a value style of investing.
Top holdings
As of Dec. 31, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MONEY MARKET FUND | GOIXX | $2.06M | 11.72% |
| AVIAT NETWORKS INC | — | $740.47K | 4.22% |
| CRAWFORD & CO-A | — | $692.58K | 3.95% |
| PASON SYSTEMS INC COMMON STOCK | PSYTF | $642.61K | 3.66% |
| NATURE'S SUNSHNE | — | $637.21K | 3.63% |
| UNITED INSURANCE | — | $540.01K | 3.08% |
| GENCO SHIPPING + TRADING LTD COMMON STOCK USD.01 | GNK US | $525.02K | 2.99% |
| NEWTEKONE INC | — | $522.92K | 2.98% |
| MASTERBRAND INC | — | $468.91K | 2.67% |
| PERMA-FIX ENVIRONMNTL SVCS INC | — | $465.28K | 2.65% |
Portfolio moves
Sep 30, 2025 → Dec 31, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Pinnacle Value Fund · PVFIX | 16% | 1.32% |
| Perritt MicroCap Opportunities Fund · PRCGX | 13% | 1.73% |
| North Star Micro Cap Fund · NSMVX, NSMYX | 13% | 1.39% |
Advisers
| Firm | Role |
|---|---|
| Ancora Advisors LLC | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of December 31, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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