Investment objective & strategy
As of March 27, 2026 · prospectusObjective. The investment objective of the North Star Micro Cap Fund (the ?Micro Cap Fund?) is capital appreciation and,
Strategy. Under normal market conditions, the Micro Cap Fund seeks to achieve its investment objective of capital appreciation by investing at least 80% of the Micro Cap Fund?s net assets in micro-cap companies. For purposes of this investment strategy, the Micro Cap Fund considers micro-cap companies as companies with market capitalizations up to $1 billion at the time of purchase. The Micro Cap Fund generally invests between 80-100% of the Micro Cap Fund?s assets in equity securities of U.S. companies that the Adviser believes are currently undervalued and have the potential for capital appreciation. The equity securities bought by the Micro Cap Fund will typically be purchased at a low price relative to book value. The Micro Cap Fund invests primarily … Under normal market conditions, the Micro Cap Fund seeks to achieve its investment objective of capital appreciation by investing at least 80% of the Micro Cap Fund?s net assets in micro-cap companies. For purposes of this investment strategy, the Micro Cap Fund considers micro-cap companies as companies with market capitalizations up to $1 billion at the time of purchase. The Micro Cap Fund generally invests between 80-100% of the Micro Cap Fund?s assets in equity securities of U.S. companies that the Adviser believes are currently undervalued and have the potential for capital appreciation. The equity securities bought by the Micro Cap Fund will typically be purchased at a low price relative to book value. The Micro Cap Fund invests primarily in common stocks. A stock price is undervalued, or is a ?value,? when it trades at less than the price at which the Adviser believes it would trade if the market reflected all factors relating to the company?s worth.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| FIRST AM-TR OB-X | TMPXX | $12.54M | 6.91% |
| LINCOLN EDUCATIONAL SERVICES | — | $5.22M | 2.88% |
| GREEN BRICK PARTNERS INC | — | $4.86M | 2.68% |
| ROCKY BRANDS INC | — | $3.84M | 2.12% |
| LINDBLAD EXPEDITIONS HOLDINGS | — | $3.82M | 2.11% |
| HEALTHCARE SERVS | — | $3.66M | 2.02% |
| ACME UNITED CORP | — | $3.65M | 2.01% |
| US LIME & MINERA | — | $3.60M | 1.98% |
| BLUE BIRD CORP | — | $3.55M | 1.96% |
| ALAMO GROUP INC | — | $3.44M | 1.89% |
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. |
|---|---|---|
| Perritt MicroCap Opportunities Fund · PRCGX | 40% | 1.73% |
| North Star Small Cap Value Fund · WSCVX, WFICX | 25% | 1.52% |
| North Star Dividend Fund · NSDVX, NSDRX | 22% | 1.44% |
Advisers
| Firm | Role |
|---|---|
| North Star Investment Management Corp. | Adviser |
Footnotes
- Expense ratio as of March 27, 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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