Investment objective & strategy
As of Feb. 27, 2026 · prospectusObjective. The Fund seeks to maximize capital appreciation.
Strategy. The Fund?s Sub-Adviser seeks to achieve the Fund?s investment objective by investing primarily in domestic growth-oriented, small-capitalization or ?small-cap? common stocks of companies traded on U.S. stock exchanges or in the over-the-counter market using its proprietary stock selection process. Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in small cap companies. The Fund defines small capitalization companies as those companies whose market capitalizations are equal to or less than the largest company in the Russell 2000 Index during the most recent 12-month period. For the most recent annual reconstitution published as of June 2025, the maximum market capitalization of companies in the Russell 2000 Index was … The Fund?s Sub-Adviser seeks to achieve the Fund?s investment objective by investing primarily in domestic growth-oriented, small-capitalization or ?small-cap? common stocks of companies traded on U.S. stock exchanges or in the over-the-counter market using its proprietary stock selection process. Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in small cap companies. The Fund defines small capitalization companies as those companies whose market capitalizations are equal to or less than the largest company in the Russell 2000 Index during the most recent 12-month period. For the most recent annual reconstitution published as of June 2025, the maximum market capitalization of companies in the Russell 2000 Index was approximately $15.7 billion, which will vary daily. The Sub-Adviser attempts to invest in companies trading at a discount to their growth rate. In general, the Sub-Adviser buys securities of companies that it identifies as having a product or service with a superior value proposition coupled with a positive business outlook when it believes shares in those companies are attractively priced. The Sub-Adviser sells securities to limit overconcentration in individual stocks, to take advantage of attractive price level valuations and to remove those companies with eroding or less attractive value propositions. The Fund?s Sub-Adviser may engage in active and frequent trading of the Fund?s portfolio securities to achieve the Fund?s investment objectives. The Fund may also engage in securities lending.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| COMFORT SYSTEMS USA INC | — | $1.93M | 2.34% |
| MIRION TECHNOLOGIES INC-A | — | $1.89M | 2.30% |
| MONEYMKT | FIGXX | $1.38M | 1.68% |
| ALIGNMENT HEALTHCARE INC | — | $1.33M | 1.61% |
| ONTO INNOVATION INC | — | $1.30M | 1.58% |
| HEXCEL CORPORATION | — | $1.28M | 1.56% |
| FULTON FINANCIAL CORP | — | $1.21M | 1.47% |
| ESCO TECHNOLOGIES INC | — | $1.19M | 1.44% |
| ADV ENERGY INDS | — | $1.13M | 1.37% |
| HERC HOLDINGS INC | — | $1.10M | 1.33% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How 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. |
|---|---|---|
| Optimum Small-Mid Cap Growth Fund · OASGX, OCSGX, OISGX | 20% | 1.19% |
| Empower Small Cap Growth Fund · MXMTX, MXMSX | 20% | 0.84% |
| Variable Portfolio - Partners Small Cap Growth Fund | 20% | 0.85% |
Advisers
| Firm | Role |
|---|---|
| Dunham & Associates Investment Counsel, Inc. | Adviser |
| Pier Capital, LLC. | Sub-adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, 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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