Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The Fund seeks long-term capital appreciation.
Strategy. The Fund seeks long-term capital appreciation by normally investing at least 80% of its assets in common stocks of small- and mid-capitalization growth companies that fall within the market capitalization range of the Russell 2500 Growth Index at the time of investment. For purposes of this policy, the term assets means net assets plus the amount of borrowings for investment purposes. As of December 31, 2025, the market capitalization range for the Russell 2500 Growth Index was approximately $13.68 million to $37.26 billion. The Adviser uses a bottom-up investment approach employing fundamental analysis to identify individual companies for inclusion in the Funds portfolio. In analyzing companies for investment, the Adviser looks for, among other things, companies that it believes have: … The Fund seeks long-term capital appreciation by normally investing at least 80% of its assets in common stocks of small- and mid-capitalization growth companies that fall within the market capitalization range of the Russell 2500 Growth Index at the time of investment. For purposes of this policy, the term assets means net assets plus the amount of borrowings for investment purposes. As of December 31, 2025, the market capitalization range for the Russell 2500 Growth Index was approximately $13.68 million to $37.26 billion. The Adviser uses a bottom-up investment approach employing fundamental analysis to identify individual companies for inclusion in the Funds portfolio. In analyzing companies for investment, the Adviser looks for, among other things, companies that it believes have: Positive future revenue and earnings growth prospects Consistent financial results High returns on equity and profit margins relative to industry peers A strong balance sheet Attractive valuation metrics In addition, the Adviser prefers companies that it believes possess the following qualitative characteristics: Superior company management A stable and durable business model The Funds portfolio will normally consist of approximately 65 to 80 companies. The Adviser incorporates material environmental, social and governance (ESG) factors as part of the investment process for applicable types of investments. The ESG factors deemed material to the Fund are at the discretion of the Adviser.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TECHNIPFMC PLC | — | $3.82M | 3.46% |
| WOODWARD INC | — | $3.03M | 2.74% |
| BURLINGTON STORES INC | — | $2.99M | 2.70% |
| US GOVERNMENT MONEY MARKET FUND | TUGXX | $2.95M | 2.67% |
| RBC BEARINGS INC | — | $2.91M | 2.63% |
| ONTO INNOVATION INC | — | $2.88M | 2.61% |
| CACI INTL-A | — | $2.46M | 2.22% |
| OLLIES BARGAIN OUTLET HOLDINGS INC | — | $2.37M | 2.15% |
| SILICON LABS | — | $2.15M | 1.95% |
| STIFEL FINANCIAL CORP | — | $2.11M | 1.91% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| TRIBUTARY SMALL/MID CAP FUND · FSMCX, FSMBX | 27% | 0.90% |
| THRIVENT SMALL CAP GROWTH PORTFOLIO | 22% | 0.94% |
| Nationwide Geneva Small Cap Growth Fund · NWHZX, NWKBX, NWKCX, NWKDX | 22% | 0.82% |
Advisers
| Firm | Role |
|---|---|
| RBC Global Asset Management (US) Inc. | Adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 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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