Investment objective & strategy
As of Jan. 25, 2024 · prospectusObjective. The Cove Street Capital Small Cap Value Fund (the Fund) seeks capital appreciation.
Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a limited number of equity securities of small capitalization companies. The equity securities in which the Fund invests include common stocks, preferred stocks, and real estate investment trusts (REITs). The Fund considers a company to be a small-cap company if it has a market capitalization, at the time of purchase, in the range of $50 million to $5 billion. Although the Fund will invest primarily in the equity securities of U.S. companies, the Fund may also invest up to 20% of its assets in the securities of foreign companies, including common and preferred stocks. From time to time, the … Under normal market conditions, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a limited number of equity securities of small capitalization companies. The equity securities in which the Fund invests include common stocks, preferred stocks, and real estate investment trusts (REITs). The Fund considers a company to be a small-cap company if it has a market capitalization, at the time of purchase, in the range of $50 million to $5 billion. Although the Fund will invest primarily in the equity securities of U.S. companies, the Fund may also invest up to 20% of its assets in the securities of foreign companies, including common and preferred stocks. From time to time, the Fund may focus its investments in securities of companies in the same economic sector. The Funds investment strategy involves a value-oriented focus on preservation of capital over the long term using a bottom-up approach. The Fund may show increased portfolio turnover in a given year in order to reflect tax strategies that reduce its realized gains and losses for the benefit of the shareholders. The Fund may also invest in restricted securities (securities with limited transferability under the securities laws) acquired from the issuer in private placement transactions.
Top holdings
As of Dec. 31, 2024 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| STIT-TR OBL-INS | — | $19.03M | 90.77% |
| SERIES A CONVERTIBLE PREFERRED STOCK OF LIFECORE B | — | $1.94M | 9.26% |
Portfolio moves
Sep 30, 2024 → Dec 31, 2024How 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. |
|---|---|---|
| Long Short Equity Fund | 2% | 1.92% |
Advisers
| Firm | Role |
|---|---|
| Cove Street Capital, LLC | Adviser |
Footnotes
- Expense ratio as of January 25, 2024, from the fund's prospectus.
- Net assets and holdings count as of December 31, 2024, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
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