Ave Maria Focused Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.6%
1 yr return
21.5%
3 Yr Avg Return
-2.9%
5 Yr Avg Return
N/A
Net Assets
$53.7 M
Holdings in Top 10
89.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.09%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
AVEAX - Profile
Distributions
- YTD Total Return 4.6%
- 3 Yr Annualized Total Return -2.9%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.54%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAve Maria Focused Fund
-
Fund Family NameSchwartz Investment Trust
-
Inception DateMay 01, 2020
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChadd Garcia
Fund Description
Under normal market conditions, the Ave Maria Focused Fund will invest primarily in equity securities that the Adviser believes have high earnings growth potential. Equity securities include, but are not limited to, common stocks, preferred stocks, convertible stocks, special situation companies and foreign stocks. Under normal circumstances, all of the Fund’s equity investments and at least 80% of the Fund’s net assets (plus the amount of borrowings for investment purposes) will be invested in companies believed to offer products or services or engage in practices that are not contrary to the core values and teachings of the Roman Catholic Church. The Fund may invest in the securities of companies of any size, regardless of market capitalization. At times, depending on market and other conditions, the Fund may invest a substantial portion of its assets in a small number of issuers, industries, or business sectors. The Fund is classified as non-diversified.
The moral screening process for the Fund uses information from third-party screening providers, the Adviser, shareholders, and other sources. The Catholic Advisory Board sets the criteria for screening out companies based on religious principles. In making this determination, the Catholic Advisory Board members are guided by the magisterium of the Roman Catholic Church. The magisterium of the Roman Catholic Church is the authority or office of the Roman Catholic Church to teach the authentic interpretation of the Word of God, whether in its written form or in universal faith and moral practices. This process will, in general, avoid four major categories of companies: (i) those involved in the practice of abortion; (ii) those whose policies are judged to be antifamily, such as companies that distribute pornographic material; (iii) those that contribute corporate funds to Planned Parenthood; and (iv) those that support embryonic stem cell research. The Fund is not authorized or sponsored by the Roman Catholic Church and the Catholic Advisory Board is not affiliated with the Roman Catholic Church. Additionally, a stock will be sold in a manner that is not disruptive to the Fund if the Adviser determines that the company operates in a way that is inconsistent with the core values and teachings of the Roman Catholic Church, based on the criteria established by the Catholic Advisory Board. A stock will automatically be sold, if necessary, to ensure that the Fund meets its policy of investing at least 80% of its net assets in morally responsible investments. For more information about the Catholic Advisory Board, please turn to the “Catholic Advisory Board” section of this Prospectus.
The Fund may invest in special situation companies that have fallen out of favor with the market, but are expected to appreciate over time due to company-specific developments, rather than general business conditions or movements in the markets as a whole. Special situations may include significant changes in a company’s allocation of its existing capital (companies undergoing turnarounds or spin-offs) or a restructuring of assets. Special situations may also result from significant changes to an industry through regulatory developments or shifts in competition, new product introductions, changes in senior management or significant changes in a company’s cost structure.
The Fund may invest in the securities of foreign issuers. The Fund will invest directly in foreign securities or indirectly in the form of depositary receipts. Depositary receipts are stocks issued by a U.S. bank or broker that trade in the U.S. but represent ownership of securities issued by foreign companies.
In selecting investments, the Adviser uses fundamental security analyses to identify and purchase shares of companies that the Adviser believes are selling below their intrinsic value. The Adviser looks for companies whose market prices are below what a corporate or entrepreneurial buyer would be willing to pay for the entire business. The price of stocks in relation to their free cash flow and earnings, both historical and prospective, are key determinants in the security selection process. Emphasis is also placed on identifying companies that are believed to redeploy excess capital at high rates of return. Generally, stocks are purchased with the intent to hold them for an average of five years. However, when a company no longer meets the Adviser’s investment standards or a more attractive opportunity becomes available, it is sold regardless of the time held by the Fund. A stock may also be sold when there is an adverse change in a company’s economic outlook or competitive advantage, a fundamental change has occurred in a company’s management, the company fails to redeploy its capital at the return threshold anticipated by the Adviser, or the anticipated return threshold is no longer probable.
AVEAX - Performance
Return Ranking - Trailing
Period | AVEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -1.3% | 40.0% | 99.10% |
1 Yr | 21.5% | 3.7% | 56.8% | 96.39% |
3 Yr | -2.9%* | -27.9% | 23.5% | 93.18% |
5 Yr | N/A* | -13.9% | 29.5% | N/A |
10 Yr | N/A* | -4.9% | 19.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | AVEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 38.7% | -74.1% | 72.4% | 30.77% |
2022 | -35.0% | -85.9% | 4.7% | 55.57% |
2021 | 22.4% | -52.4% | 60.5% | 9.94% |
2020 | N/A | -34.3% | 145.0% | N/A |
2019 | N/A | -6.9% | 49.4% | N/A |
Total Return Ranking - Trailing
Period | AVEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -1.3% | 40.0% | 99.10% |
1 Yr | 21.5% | 3.7% | 56.8% | 96.39% |
3 Yr | -2.9%* | -27.9% | 23.5% | 93.18% |
5 Yr | N/A* | -13.9% | 29.5% | N/A |
10 Yr | N/A* | -4.9% | 19.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | AVEAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 38.7% | -4.6% | 72.4% | 47.15% |
2022 | -35.0% | -61.7% | 5.6% | 78.38% |
2021 | 22.4% | -39.8% | 118.1% | 48.28% |
2020 | N/A | 2.8% | 149.2% | N/A |
2019 | N/A | -5.2% | 49.4% | N/A |
NAV & Total Return History
AVEAX - Holdings
Concentration Analysis
AVEAX | Category Low | Category High | AVEAX % Rank | |
---|---|---|---|---|
Net Assets | 53.7 M | 292 K | 287 B | 92.81% |
Number of Holdings | 18 | 2 | 3061 | 98.20% |
Net Assets in Top 10 | 47.9 M | 126 K | 151 B | 89.20% |
Weighting of Top 10 | 89.03% | 0.7% | 205.0% | 2.08% |
Top 10 Holdings
- API Group Corporation 20.16%
- eDreams ODIGEO S.A. 17.01%
- DigitalBridge Group, Inc. 11.24%
- GFL Environmental Inc. 7.49%
- Brookfield Reinsurance Ltd. Ltd. 6.67%
- Brookfield Corporation 6.66%
- Apollo Global Management, Inc. 6.01%
- Sigmaroc PLC 5.34%
- Secure Energy Services, Inc. 5.18%
- First Watch Restaurant Group, Inc. 3.28%
Asset Allocation
Weighting | Return Low | Return High | AVEAX % Rank | |
---|---|---|---|---|
Stocks | 99.96% | 0.00% | 115.30% | 6.66% |
Cash | 2.02% | 0.00% | 173.52% | 25.56% |
Preferred Stocks | 0.00% | 0.00% | 10.69% | 38.61% |
Other | 0.00% | -31.50% | 50.35% | 43.74% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 29.22% |
Bonds | 0.00% | 0.00% | 102.71% | 31.68% |
Stock Sector Breakdown
Weighting | Return Low | Return High | AVEAX % Rank | |
---|---|---|---|---|
Industrials | 26.06% | 0.00% | 30.65% | 0.27% |
Technology | 18.29% | 0.00% | 65.70% | 95.85% |
Consumer Cyclical | 16.91% | 0.00% | 62.57% | 40.31% |
Financial Services | 8.98% | 0.00% | 43.06% | 50.86% |
Energy | 7.87% | 0.00% | 41.09% | 4.87% |
Real Estate | 6.62% | 0.00% | 16.05% | 2.98% |
Basic Materials | 5.09% | 0.00% | 18.91% | 8.57% |
Utilities | 4.26% | 0.00% | 16.07% | 2.43% |
Healthcare | 3.55% | 0.00% | 39.76% | 97.48% |
Consumer Defense | 2.36% | 0.00% | 25.50% | 67.72% |
Communication Services | 0.00% | 0.00% | 66.40% | 98.20% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | AVEAX % Rank | |
---|---|---|---|---|
US | 71.21% | 0.00% | 115.30% | 98.11% |
Non US | 28.75% | 0.00% | 75.51% | 0.90% |
AVEAX - Expenses
Operational Fees
AVEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.09% | 0.01% | 28.71% | 37.67% |
Management Fee | 0.75% | 0.00% | 1.50% | 80.33% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
AVEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
AVEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
AVEAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 316.74% | N/A |
AVEAX - Distributions
Dividend Yield Analysis
AVEAX | Category Low | Category High | AVEAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 27.58% | 59.19% |
Dividend Distribution Analysis
AVEAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
AVEAX | Category Low | Category High | AVEAX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.54% | -6.13% | 3.48% | 67.25% |
Capital Gain Distribution Analysis
AVEAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
AVEAX - Fund Manager Analysis
Managers
Chadd Garcia
Start Date
Tenure
Tenure Rank
May 01, 2020
2.08
2.1%
Chadd M. Garcia joined Schwartz Investment Counsel Inc in 2014 and currently serves as Vice President and Senior Research Analyst, and lead portfolio manager of the Ave Maria Focused Fund and co-portfolio manager of the Ave Maria Growth Fund. He previously worked as a Managing Director at SQ Advisors in 2014 and Gulf Coast Capital Partners from 2011 until 2014.
Adam Gaglio
Start Date
Tenure
Tenure Rank
May 01, 2020
2.08
2.1%
Adam P. Gaglio, CFA, lead portfolio manager of the Ave Maria Growth Fund and co-portfolio manager of the Ave Maria Focused Fund, joined the Schwartz in 2013 and currently serves as Vice President and Equity Research Analyst. He previously worked as an actuarial analyst at Towers Watson from 2012 until 2013.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.23 | 3.08 |