Investment objective & strategy
As of Jan. 5, 2026 · prospectusObjective. The Funds investment objective is long-term growth of capital.
Strategy. The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in micro capitalization companies. Micro capitalization companies are defined as those companies with market capitalizations (share price multiplied by number of shares outstanding) of (1) less than or equal to $600 million; or (2) within the capitalization range of the Bloomberg US Micro Cap Total Return Index at the time of purchase. As of August 31, 2025, the market capitalization range of the companies in the Bloomberg US Micro Cap Total Return Index was between approximately $1,973,800 and $6.92 billion. The Fund maintains a diversified portfolio of investments consisting primarily of common stocks. The Fund may also invest in other equity … The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in micro capitalization companies. Micro capitalization companies are defined as those companies with market capitalizations (share price multiplied by number of shares outstanding) of (1) less than or equal to $600 million; or (2) within the capitalization range of the Bloomberg US Micro Cap Total Return Index at the time of purchase. As of August 31, 2025, the market capitalization range of the companies in the Bloomberg US Micro Cap Total Return Index was between approximately $1,973,800 and $6.92 billion. The Fund maintains a diversified portfolio of investments consisting primarily of common stocks. The Fund may also invest in other equity securities, such as preferred stocks, rights, or warrants. The Adviser expects to select investments for the Fund in companies across various industry groups. The Adviser manages the Funds portfolio in an aggressive growth style. The Adviser believes that investments in micro capitalization companies can have greater earnings and sales growth potential than larger capitalized companies and can offer substantial opportunities for long-term growth of capital. The Advisers overall stock selections are based on its qualitative and quantitative assessment of a companys fundamental prospects and whether it has an above-average potential for long-term growth of capital. The Adviser expects to invest the Funds net assets primarily in U.S. companies, but may gain exposure to foreign markets, including emerging markets, through the global operations of U.S. companies, by purchasing depositary receipts or securities of foreign companies traded on U.S. exchanges, or through direct investment in foreign companies. The Adviser will not invest more than 25% of the Funds net assets directly in foreign companies. The Fund may have significant exposure to the health care sector. The Fund intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, or to maintain liquidity while seeking appropriate investments. The Fund may lend its portfolio securities to seek to generate additional income.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FRST AM-GV OB-X | TMPXX | $2.93M | 17.88% |
| CELCUITY INC | — | $1.41M | 8.61% |
| OMEROS CORP | — | $797.71K | 4.87% |
| CANTALOUPE INC | — | $661.11K | 4.04% |
| Western Copper & Gold Corp. | WRN CN | $657.23K | 4.02% |
| HARROW INC | — | $652.71K | 3.99% |
| PORCH GROUP INC | — | $603.85K | 3.69% |
| DIAMEDICA THERAPEUTICS INC | — | $562.30K | 3.44% |
| POWERFLEET INC | — | $557.35K | 3.41% |
| USIO INC | — | $553.64K | 3.38% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Jacob Small Cap Growth Fund · JSCGX, JSIGX | 48% | 2.96% |
| Jacob Internet Fund · JAMFX | 30% | 1.99% |
| Return Stacked Bonds & Merger Arbitrage ETF · RSBA | 20% | 0.96% |
Footnotes
- Expense ratio as of January 5, 2026, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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