Investment objective & strategy
As of July 29, 2025 · prospectusObjective. The investment objective of the Fund is current income consistent with the preservation of capital and maintenance of liquidity.
Strategy. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt obligations issued or guaranteed by the U.S. Government, its agencies and instrumentalities and repurchase agreements on such securities. The balance of the Funds assets may be invested in U.S. dollar-denominated investment grade debt securities, including corporate debt securities, mortgage-backed securities and asset backed securities. We consider investment grade to mean rated at least BBB- by one or more nationally recognized credit ratings firms. The Fund may invest in securities that are unrated if we determine that such securities are of investment grade quality. The Fund may also invest in government money market funds or exchange … Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt obligations issued or guaranteed by the U.S. Government, its agencies and instrumentalities and repurchase agreements on such securities. The balance of the Funds assets may be invested in U.S. dollar-denominated investment grade debt securities, including corporate debt securities, mortgage-backed securities and asset backed securities. We consider investment grade to mean rated at least BBB- by one or more nationally recognized credit ratings firms. The Fund may invest in securities that are unrated if we determine that such securities are of investment grade quality. The Fund may also invest in government money market funds or exchange traded funds which invest substantially all of their assets in U.S. government securities. The Fund may invest in debt securities of all maturities, but expects to limit its average effective duration to one year or less. The average effective duration of the Funds portfolio as of June 30, 2025 was 0.3 years. Duration is a measure of a debt securitys price sensitivity to changes in interest rates. The longer the duration of the Funds overall portfolio (or an individual debt security), the more sensitive its market price will be to changes in interest rates. For example, if interest rates increase by 1%, the market price of a debt security with a duration of 1 year will generally decrease by approximately 1%. Conversely, a 1% decline in interest rates will generally result in an increase of approximately 1% of that securitys market price.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $33.96M | 29.16% |
| US TREASURY N/B | — | $32.00M | 27.48% |
| U.S. Treasury Bills | B | $19.88M | 17.08% |
| JPM-US GV MM-L | IJGXX | $13.56M | 11.65% |
| U.S. Treasury Bills | — | $9.83M | 8.44% |
| U.S. Treasury Bills | 912797TH | $6.99M | 6.00% |
| NMEF Funding LLC, Series 2025-A, Class A2 | — | $345.53K | 0.30% |
| CFMT 2021-AL1 Trust | — | $19.14K | 0.02% |
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. |
|---|---|---|
| PIMCO Low Duration Portfolio | 28% | — |
| Curasset Capital Management Limited Term Income Fund · CMIVX, CMIAX, CMIFX, CMIIX | 17% | 0.44% |
| BlackRock Commodity Strategies Fund | 17% | 0.67% |
Advisers
| Firm | Role |
|---|---|
| Weitz Investment Management, Inc. | Adviser |
Footnotes
- Expense ratio as of July 29, 2025, 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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