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Trending ETFs

Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.99

$2.39 B

0.00%

1.31%

Vitals

YTD Return

11.2%

1 yr return

10.8%

3 Yr Avg Return

-6.5%

5 Yr Avg Return

2.6%

Net Assets

$2.39 B

Holdings in Top 10

49.1%

52 WEEK LOW AND HIGH

$51.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/20/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.99

$2.39 B

0.00%

1.31%

BCSIX - Profile

Distributions

  • YTD Total Return 11.2%
  • 3 Yr Annualized Total Return -6.5%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.20%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    The Brown Capital Management Small Company Fund
  • Fund Family Name
    Brown Capital Management
  • Inception Date
    Dec 15, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Keith Lee

Fund Description

The Small Company Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the equity securities of those companies with total operating revenues of $500 million or less at the time of the initial investment, (“small companies”). It is important to note that the Small Company Fund does NOT choose its portfolio companies based on a reference to market capitalization. Rather, the focus of the Small Company Fund is on the revenue produced by the issuer of the securities.

The Small Company Fund typically invests in common stocks. The Advisor seeks to build a portfolio of exceptional small companies with the wherewithal to become exceptional large companies. The Small Company Fund typically holds a portfolio of between 40 –65 securities which the Advisor believes have the potential for growth.

The Advisor’s Philosophy

The Advisor believes that a sustained commitment to a portfolio of exceptional companies will, over time, generate attractive long-term returns. The Advisor believes exceptional companies save time, lives, money or headaches or provide an exceptional value proposition to consumers.  The Advisor views these differentiated organizations as having the wherewithal to provide unique solutions that include, but are not limited to, the utilization of innovative technology and insight to help address or redefine the challenges faced by institutions or consumers. These companies often retain a long-term growth plan, durable revenue growth, defensible market presence and profitability to fuel and sustain earnings per share growth. While investing in exceptional growth companies is paramount, the Advisor believes in being disciplined and deliberate about what it is willing to pay for growth opportunities and doing so in a benchmark agnostic manner (meaning that the Advisor selects companies without consideration of benchmarks by which the Fund is measured). Because the Small Company Fund is managed in a benchmark agnostic manner, an unintended consequence is that the Fund may have sector exposure.

The Advisor’s Investment Approach

The Advisor believes an investment program establishes the processes necessary to identify, research and construct a portfolio. The Advisor distinguishes Small Company from small capitalization investing by its use of revenue not market capitalization to identify and invest in exceptional small companies that have the wherewithal to become exceptional larger companies. The Advisor sources ideas from many places. Companies eligible for investment typically generate no more than $500 million in revenue at the time of initial investment. The Advisor’s investment professionals retain dual duties, managing the portfolio as a team and serving as generalists in their analytical role. They discuss prospective portfolio candidates with teammates before any in depth research is performed to ensure the commitment of time dedicated to understanding the company makes sense to all team members.

The Advisor believes that in-depth fundamental research, when applied over a three to five-year time horizon, and implemented within a benchmark agnostic framework, has the potential to generate attractive long-term returns.

Therefore, the foundation of the Advisor’s process is fundamental analysis. Valuation is also part of the investment process.

The Advisor constructs the Small Company Fund’s portfolio to generally be no more than 5% in cash. The Advisor believes a diversified portfolio of 40-65 securities and their research efforts may, collective, reduce portfolio risk.

The Advisor generally expects to hold securities for the long term. The Advisor typically sells securities from the Small Company Fund’s portfolio when the Advisor determines that the investment thesis driving the purchase of the company changes, the Advisor has a better investment idea, and/or its valuation no longer meets expectations.

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BCSIX - Performance

Return Ranking - Trailing

Period BCSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.2% -2.6% 70.6% 70.74%
1 Yr 10.8% -0.9% 65.7% 72.78%
3 Yr -6.5%* -15.4% 60.0% 91.74%
5 Yr 2.6%* -4.3% 45.5% 96.87%
10 Yr 7.3%* 1.3% 24.7% 80.31%

* Annualized

Return Ranking - Calendar

Period BCSIX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -20.5% 54.6% 87.92%
2022 -44.5% -82.1% 32.2% 96.25%
2021 -12.6% -90.6% 300.1% 63.02%
2020 34.6% -63.0% 127.9% 33.46%
2019 18.9% -7.7% 42.9% 64.99%

Total Return Ranking - Trailing

Period BCSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.2% -2.6% 70.6% 70.74%
1 Yr 10.8% -0.9% 65.7% 72.78%
3 Yr -6.5%* -15.4% 60.0% 91.74%
5 Yr 2.6%* -4.3% 45.5% 96.87%
10 Yr 7.3%* 1.3% 24.7% 80.31%

* Annualized

Total Return Ranking - Calendar

Period BCSIX Return Category Return Low Category Return High Rank in Category (%)
2023 19.1% -19.0% 136.8% 26.39%
2022 -38.0% -59.9% 44.3% 92.87%
2021 -4.2% -22.7% 411.9% 93.21%
2020 45.3% 1.5% 150.8% 32.88%
2019 29.2% 5.5% 55.3% 48.29%

NAV & Total Return History


BCSIX - Holdings

Concentration Analysis

BCSIX Category Low Category High BCSIX % Rank
Net Assets 2.39 B 209 K 34.3 B 25.37%
Number of Holdings 40 7 1226 94.26%
Net Assets in Top 10 786 M 53.8 K 3.02 B 12.78%
Weighting of Top 10 49.12% 7.5% 100.0% 5.94%

Top 10 Holdings

  1. Guidewire Software, Inc. 5.82%
  2. Manhattan Associates, Inc. 5.80%
  3. Glaukos Corp. 5.49%
  4. Tyler Technologies, Inc. 5.20%
  5. AppFolio, Inc. 4.75%
  6. Smartsheet, Inc. 4.62%
  7. Datadog, Inc. Class A 4.61%
  8. Veeva Systems, Inc. Class A 4.46%
  9. Bio-Techne Corp. 4.21%
  10. Repligen Corp. 4.16%

Asset Allocation

Weighting Return Low Return High BCSIX % Rank
Stocks
97.92% 92.05% 107.62% 58.15%
Cash
2.11% 0.00% 28.78% 46.67%
Preferred Stocks
0.00% 0.00% 4.59% 56.85%
Other
0.00% -0.26% 6.70% 65.37%
Convertible Bonds
0.00% 0.00% 1.57% 52.78%
Bonds
0.00% 0.00% 2.40% 52.22%

Stock Sector Breakdown

Weighting Return Low Return High BCSIX % Rank
Technology
57.27% 2.91% 75.51% 1.11%
Healthcare
37.09% 0.00% 47.90% 2.04%
Industrials
4.42% 0.00% 36.64% 98.15%
Basic Materials
0.72% 0.00% 9.24% 81.67%
Energy
0.51% 0.00% 55.49% 73.33%
Utilities
0.00% 0.00% 5.57% 65.37%
Real Estate
0.00% 0.00% 15.31% 86.67%
Financial Services
0.00% 0.00% 42.95% 99.44%
Communication Services
0.00% 0.00% 15.31% 92.04%
Consumer Defense
0.00% 0.00% 13.56% 98.15%
Consumer Cyclical
0.00% 0.00% 24.04% 99.63%

Stock Geographic Breakdown

Weighting Return Low Return High BCSIX % Rank
US
97.92% 17.30% 107.62% 50.93%
Non US
0.00% 0.00% 77.12% 61.67%

BCSIX - Expenses

Operational Fees

BCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.31% 0.05% 23.20% 40.07%
Management Fee 1.00% 0.05% 1.62% 89.80%
12b-1 Fee 0.20% 0.00% 1.00% 27.12%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

BCSIX 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% 5.00% N/A

Trading Fees

BCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 49.58%

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.

BCSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 3.00% 264.00% 6.13%

BCSIX - Distributions

Dividend Yield Analysis

BCSIX Category Low Category High BCSIX % Rank
Dividend Yield 0.00% 0.00% 6.91% 59.44%

Dividend Distribution Analysis

BCSIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

BCSIX Category Low Category High BCSIX % Rank
Net Income Ratio -1.20% -2.47% 1.10% 83.71%

Capital Gain Distribution Analysis

BCSIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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BCSIX - Fund Manager Analysis

Managers

Keith Lee


Start Date

Tenure

Tenure Rank

Jul 23, 1992

29.87

29.9%

President and Chief Operating Officer Keith A. Lee joined Brown Capital Management in 1991 to launch the Small Company Strategy. Keith is a member of the firm's board of directors and is also chairman of the Management Committee, the governing body of the firm. He holds an MBA from the University of Virginia’s Darden Graduate School of Business Administration and a BA in psychology from the University of Virginia.

Kempton Ingersol


Start Date

Tenure

Tenure Rank

Dec 31, 2000

21.43

21.4%

Managing Director and Senior Portfolio Manager Kempton M. Ingersol joined Brown Capital Management in 1999. Prior to this, Kempton was an analyst in investment banking at Lehman Brothers, a VP at Dain Rauscher Inc., and a VP at Grigsby Brandford & Co. Kempton holds an MBA in finance from the University of Michigan and a BA in political science from Amherst College.

Damien Davis


Start Date

Tenure

Tenure Rank

Jul 29, 2013

8.84

8.8%

Managing Director and Portfolio Manager Damien L. Davis was originally hired at Brown Capital Management in 2003 as a research associate. While on an educational leave from the firm beginning in 2008, he attended Columbia Business School, where he earned his MBA in finance. He resumed employment at the firm in 2010. Damien holds a BA in psychology from Princeton University and is a CFA charterholder.

Andrew Fones


Start Date

Tenure

Tenure Rank

Jul 29, 2014

7.84

7.8%

Director and Portfolio Manager Andrew J. Fones joined Brown Capital Management in 2014. Prior to joining the firm, Andrew was an analyst at T. Rowe Price and an analyst at UBS. Andrew earned an MBA in finance and accounting from Tulane University and a BEng in civil engineering from the University of Nottingham in the U.K.

Daman Blakeney


Start Date

Tenure

Tenure Rank

Jul 28, 2017

4.84

4.8%

Managing Director and Senior Portfolio Manager Daman C. Blakeney joined Brown Capital Management in 2008. Prior to joining the firm, he served as senior equity research analyst at Voyageur Asset Management. Preceding that, he was an equity research analyst at Victory Capital Management. Daman received an MBA from the Fuqua School of Business at Duke University and a BA in economics from the University of North Carolina. He is a member of the CFA Institute.

Chaitanya Yaramada


Start Date

Tenure

Tenure Rank

Mar 20, 2019

3.2

3.2%

Ms. Yaramada, Director and Portfolio Manager/Senior Analyst, joined the Advisor in 2019. Prior to arriving at the firm, she spent nearly 10 years at Baird, starting as an associate in equity research and then serving as a technology analyst in Equity Asset Management. She earned a Bachelor of Engineering from the University of Auckland and an MBA from the University of Chicago. She is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.17 5.25