Berkshire Focus Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
63.8%
1 yr return
83.4%
3 Yr Avg Return
-8.4%
5 Yr Avg Return
11.4%
Net Assets
$241 M
Holdings in Top 10
63.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.97%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$5,000
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
BFOCX - Profile
Distributions
- YTD Total Return 63.8%
- 3 Yr Annualized Total Return -8.4%
- 5 Yr Annualized Total Return 11.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.87%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBerkshire Focus Fund
-
Fund Family NameBerkshire
-
Inception DateFeb 01, 1999
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMalcolm Fobes
Fund Description
The Berkshire Focus Fund is a “non-diversified” portfolio and invests primarily in common stocks that are selected for their long-term growth potential. The Fund may invest in companies of any size. The Fund concentrates its investments in the electronic technology industry, which means more than 25%, and as much as 100%, of the Fund’s total assets can be invested in that particular industry. The Fund will normally hold a core position of between 20 and 40 common stocks (common stocks with holdings of 10 shares are not counted for this purpose), although the number of securities held by the Fund may occasionally exceed this range at times. In selecting investments for the Fund, the investment adviser uses a “bottom-up” approach to stock selection. This approach to investing refers to a selection process in which the Fund’s investment adviser looks at companies one at a time to determine if a company is an attractive investment opportunity. The Fund may sell securities of a company if the investment adviser determines that the
current market price exceeds the value of the company, alternative investments present better potential for capital appreciation, or for other reasons. The Fund may invest without limitation in foreign securities and certain types of exchange traded funds. Although some of the Fund’s holdings may produce dividends, interest, or other income, current income is not a consideration when selecting the Fund’s investments. The Fund’s investment adviser employs a flexible investment style and seeks to take advantage of opportunities as they arise. As a consequence of the Fund’s investment strategy, the Fund generally has a high rate of portfolio turnover.
BFOCX - Performance
Return Ranking - Trailing
| Period | BFOCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 63.8% | -20.7% | 60.5% | 0.45% |
| 1 Yr | 83.4% | -13.7% | 78.8% | 0.45% |
| 3 Yr | -8.4%* | -33.7% | 17.9% | 93.06% |
| 5 Yr | 11.4%* | -10.7% | 32.3% | 82.50% |
| 10 Yr | 18.1%* | 1.2% | 26.8% | 43.79% |
* Annualized
Return Ranking - Calendar
| Period | BFOCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 50.2% | -5.6% | 96.9% | 42.47% |
| 2022 | -65.1% | -73.9% | -16.4% | 97.69% |
| 2021 | -17.3% | -44.6% | 51.5% | 89.30% |
| 2020 | 58.9% | 5.5% | 154.1% | 19.40% |
| 2019 | 23.3% | -3.0% | 63.7% | 79.06% |
Total Return Ranking - Trailing
| Period | BFOCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 63.8% | -20.7% | 60.5% | 0.45% |
| 1 Yr | 83.4% | -13.7% | 78.8% | 0.45% |
| 3 Yr | -8.4%* | -33.7% | 17.9% | 93.06% |
| 5 Yr | 11.4%* | -10.7% | 32.3% | 82.50% |
| 10 Yr | 18.1%* | 1.2% | 26.8% | 43.79% |
* Annualized
Total Return Ranking - Calendar
| Period | BFOCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 50.2% | -2.3% | 96.9% | 49.77% |
| 2022 | -65.1% | -67.5% | -5.9% | 99.07% |
| 2021 | -1.4% | -17.8% | 59.2% | 88.37% |
| 2020 | 92.3% | 17.5% | 157.5% | 3.98% |
| 2019 | 40.6% | 7.5% | 66.9% | 47.12% |
NAV & Total Return History
BFOCX - Holdings
Concentration Analysis
| BFOCX | Category Low | Category High | BFOCX % Rank | |
|---|---|---|---|---|
| Net Assets | 241 M | 4.67 M | 81.2 B | 70.14% |
| Number of Holdings | 87 | 10 | 321 | 23.08% |
| Net Assets in Top 10 | 156 M | 1.67 M | 56.8 B | 64.71% |
| Weighting of Top 10 | 63.12% | 13.2% | 100.0% | 15.38% |
Top 10 Holdings
- NVIDIA Corp. 10.92%
- Amazon.com, Inc. 7.02%
- Broadcom Inc. 6.15%
- Arista Networks, Inc. 6.08%
- Eli Lilly and Company 6.05%
- Taiwan Semiconductor Manufacturing Company Ltd. ADR 6.05%
- Cloudflare, Inc. Class A 6.03%
- The Trade Desk, Inc. Class A 4.98%
- Meta Platforms, Inc. Class A 4.92%
- Microsoft Corp. 4.92%
Asset Allocation
| Weighting | Return Low | Return High | BFOCX % Rank | |
|---|---|---|---|---|
| Stocks | 100.17% | 0.00% | 100.77% | 3.17% |
| Preferred Stocks | 0.00% | 0.00% | 8.61% | 81.45% |
| Other | 0.00% | -0.04% | 26.87% | 77.83% |
| Convertible Bonds | 0.00% | 0.00% | 0.40% | 76.02% |
| Cash | 0.00% | 0.00% | 26.97% | 98.19% |
| Bonds | 0.00% | 0.00% | 87.98% | 76.92% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BFOCX % Rank | |
|---|---|---|---|---|
| Technology | 63.53% | 2.80% | 100.00% | 69.68% |
| Consumer Cyclical | 21.03% | 0.00% | 32.97% | 4.98% |
| Communication Services | 11.61% | 0.00% | 97.05% | 31.22% |
| Financial Services | 3.84% | 0.00% | 38.36% | 52.04% |
| Utilities | 0.00% | 0.00% | 5.17% | 76.47% |
| Real Estate | 0.00% | 0.00% | 15.05% | 82.81% |
| Industrials | 0.00% | 0.00% | 38.68% | 94.12% |
| Healthcare | 0.00% | 0.00% | 25.57% | 91.40% |
| Energy | 0.00% | 0.00% | 1.24% | 75.57% |
| Consumer Defense | 0.00% | 0.00% | 5.64% | 80.54% |
| Basic Materials | 0.00% | 0.00% | 2.38% | 77.83% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BFOCX % Rank | |
|---|---|---|---|---|
| US | 100.17% | 0.00% | 100.77% | 3.17% |
| Non US | 0.00% | 0.00% | 63.81% | 86.43% |
BFOCX - Expenses
Operational Fees
| BFOCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.97% | 0.08% | 5.04% | 11.36% |
| Management Fee | 1.50% | 0.03% | 1.95% | 98.64% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.50% | 0.00% | 0.50% | 100.00% |
Sales Fees
| BFOCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| BFOCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 37.50% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BFOCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.69% | 281.00% | 98.87% |
BFOCX - Distributions
Dividend Yield Analysis
| BFOCX | Category Low | Category High | BFOCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 7.82% | 85.07% |
Dividend Distribution Analysis
| BFOCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | SemiAnnual | Annual |
Net Income Ratio Analysis
| BFOCX | Category Low | Category High | BFOCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.87% | -2.30% | 2.08% | 97.24% |
Capital Gain Distribution Analysis
| BFOCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2021 | $7.075 | OrdinaryDividend |
| Dec 28, 2020 | $9.278 | OrdinaryDividend |
| Dec 27, 2019 | $3.385 | CapitalGainShortTerm |
| Dec 27, 2019 | $0.526 | CapitalGainLongTerm |
| Dec 28, 2017 | $3.880 | CapitalGainShortTerm |
| Dec 28, 2017 | $0.785 | CapitalGainLongTerm |
| Dec 29, 2016 | $0.025 | CapitalGainLongTerm |
| Dec 31, 2015 | $1.731 | CapitalGainLongTerm |
| Dec 30, 2015 | $5.787 | CapitalGainShortTerm |
| Dec 30, 2015 | $1.966 | CapitalGainLongTerm |
| Dec 30, 2014 | $0.008 | CapitalGainShortTerm |
BFOCX - Fund Manager Analysis
Managers
Malcolm Fobes
Start Date
Tenure
Tenure Rank
Jul 01, 1997
24.93
24.9%
Larry Antonatos — Managing Director and Portfolio Manager. Malcolm R. Fobes III is the Chief Investment Officer of Berkshire Capital and has over 23 years of experience as a securities analyst and a portfolio manager. Mr. Fobes manages the investment program of the Fund and is primarily responsible for the day-to-day management of the Fund’s portfolio. He has been the portfolio manager of the Fund since its inception in 1997. Mr. Fobes founded Berkshire Capital in 1993 where he has been responsible for directing the company’s investment programs in both public and private companies located in Silicon Valley. In addition to the Fund, Mr. Fobes also serves as an Independent Director and Chairman of the Audit Committee for United States Commodity Funds, LLC. He has been listed with the CFTC as a Principal of United States Commodity Funds since November 2005. Mr. Fobes holds a Bachelor of Science degree in Finance with a minor in Economics from San Jose State University in California. The SAI provides additional information about the portfolio manager’s compensation, other accounts managed by the portfolio manager, and the portfolio manager’s ownership of securities in the Fund.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 32.43 | 8.25 | 1.41 |