Cardinal Small Cap Value Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.5%
1 yr return
8.9%
3 Yr Avg Return
-3.0%
5 Yr Avg Return
3.7%
Net Assets
$32.5 M
Holdings in Top 10
38.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.24%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
$1,000,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CCMSX - Profile
Distributions
- YTD Total Return 0.5%
- 3 Yr Annualized Total Return -3.0%
- 5 Yr Annualized Total Return 3.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.46%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameCardinal Small Cap Value Fund
-
Fund Family NameCardinal Capital
-
Inception DateApr 01, 2014
-
Shares Outstanding7668033
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEugene Fox
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small capitalization companies. The Adviser defines small capitalization companies as companies with market capitalizations, at the time of acquisition, within the range of market capitalizations of companies constituting the Russell 2000 Index. The securities in which the Fund invests are primarily common stock and real estate investment trusts (“REITs”).
The Adviser uses a value investment strategy based on proprietary fundamental research. Value investing involves buying stocks that, in the view of the Adviser, are out of favor or undervalued relative to their peers. The Adviser emphasizes companies with the ability to generate discretionary cash flow after spending what is required to maintain the business at its current level of revenue, and to redeploy such
cash flow to enhance value. The Adviser also looks for the following characteristics:
● | Stable and predictable business model |
● | Motivated and competent management |
● | Unduly depressed valuation |
● | Catalyst for positive market revaluation |
To manage risk, the Adviser seeks to adhere to a strong buy, hold and sell discipline. The Adviser may sell a security if (1) its expected return falls below certain levels due to price appreciation, (2) its market capitalization appreciates above the range of small capitalization securities, (3) there are, in the view of the Adviser, adverse changes in the fundamentals of the issuer, (4) the Adviser believes that the business model of the issuer becomes unpredictable, or (5) the Adviser believes better relative value exists elsewhere.
CCMSX - Performance
Return Ranking - Trailing
Period | CCMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.5% | -11.5% | 15.0% | 13.72% |
1 Yr | 8.9% | -15.9% | 43.0% | 57.94% |
3 Yr | -3.0%* | -10.6% | 37.4% | 82.87% |
5 Yr | 3.7%* | -14.4% | 30.0% | 91.34% |
10 Yr | 4.7%* | -3.0% | 16.4% | 89.86% |
* Annualized
Return Ranking - Calendar
Period | CCMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.6% | -49.6% | 29.0% | 87.59% |
2022 | -18.6% | -59.3% | 118.2% | 32.13% |
2021 | 25.7% | -31.6% | 39.3% | 6.97% |
2020 | -2.3% | -51.0% | 39.5% | 93.03% |
2019 | 21.4% | -16.9% | 37.8% | 43.42% |
Total Return Ranking - Trailing
Period | CCMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.5% | -11.5% | 15.0% | 13.72% |
1 Yr | 8.9% | -15.9% | 43.0% | 57.94% |
3 Yr | -3.0%* | -10.6% | 37.4% | 82.87% |
5 Yr | 3.7%* | -14.4% | 30.0% | 91.34% |
10 Yr | 4.7%* | -3.0% | 16.4% | 89.86% |
* Annualized
Total Return Ranking - Calendar
Period | CCMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.9% | -21.7% | 31.8% | 95.32% |
2022 | -17.8% | -45.2% | 123.7% | 61.73% |
2021 | 26.1% | 0.0% | 47.7% | 31.19% |
2020 | -1.8% | -50.5% | 46.9% | 97.36% |
2019 | 22.6% | -12.6% | 43.7% | 70.92% |
NAV & Total Return History
CCMSX - Holdings
Concentration Analysis
CCMSX | Category Low | Category High | CCMSX % Rank | |
---|---|---|---|---|
Net Assets | 32.5 M | 529 K | 145 B | 94.20% |
Number of Holdings | 46 | 2 | 2519 | 93.85% |
Net Assets in Top 10 | 12.3 M | 104 K | 9.83 B | 86.12% |
Weighting of Top 10 | 38.44% | -2849.0% | 100.5% | 7.94% |
Top 10 Holdings
- CBIZ INC COMMON STOCK 4.83%
- FIRST AMERICAN TREASURY OBLIGATIONS FUND CLASS X 4.73%
- Nexstar Media Group Inc COMMON STOCK 4.18%
- BWX TECHNOLOGIES INC COMMON STOCK 4.18%
- SILGAN HOLDINGS INC COMMON STOCK 3.90%
- DT MIDSTREAM INC COMMON STOCK 3.46%
- SPECTRUM BRANDS HOLDINGS INC COMMON STOCK 3.42%
- STARWOOD PROPERTY TRUST INC REIT 3.35%
- FIRST MERCHANTS CORP COMMON STOCK 3.29%
- ESAB CORP COMMON STOCK 3.10%
Asset Allocation
Weighting | Return Low | Return High | CCMSX % Rank | |
---|---|---|---|---|
Stocks | 95.44% | -565235.00% | 108.16% | 90.51% |
Cash | 4.73% | 0.00% | 565934.00% | 19.33% |
Preferred Stocks | 0.00% | 0.00% | 7.53% | 78.73% |
Other | 0.00% | -598.74% | 39.24% | 86.12% |
Convertible Bonds | 0.00% | 0.00% | 3.17% | 79.40% |
Bonds | 0.00% | -2.00% | 74.53% | 80.14% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CCMSX % Rank | |
---|---|---|---|---|
Industrials | 18.67% | 2.46% | 37.42% | 31.79% |
Financial Services | 16.92% | 0.00% | 35.52% | 28.06% |
Consumer Cyclical | 14.65% | 0.99% | 47.79% | 9.41% |
Communication Services | 12.27% | 0.00% | 14.85% | 0.71% |
Technology | 12.22% | 0.00% | 54.70% | 76.02% |
Real Estate | 9.48% | 0.00% | 29.43% | 18.65% |
Energy | 6.51% | 0.00% | 37.72% | 42.45% |
Consumer Defense | 3.21% | 0.00% | 18.87% | 73.00% |
Basic Materials | 2.08% | 0.00% | 18.66% | 95.56% |
Utilities | 2.06% | 0.00% | 18.58% | 62.88% |
Healthcare | 1.92% | 0.00% | 26.53% | 99.47% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CCMSX % Rank | |
---|---|---|---|---|
US | 95.44% | -565235.00% | 108.16% | 84.36% |
Non US | 0.00% | 0.00% | 94.14% | 82.60% |
CCMSX - Expenses
Operational Fees
CCMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.24% | 0.01% | 38.45% | 35.51% |
Management Fee | 0.70% | 0.00% | 1.50% | 44.09% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.45% | 61.00% |
Sales Fees
CCMSX 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
CCMSX 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.
CCMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 30.00% | 1.00% | 314.00% | 28.19% |
CCMSX - Distributions
Dividend Yield Analysis
CCMSX | Category Low | Category High | CCMSX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.18% | 0.00% | 44.03% | 43.41% |
Dividend Distribution Analysis
CCMSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
CCMSX | Category Low | Category High | CCMSX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.46% | -2.40% | 2.49% | 30.37% |
Capital Gain Distribution Analysis
CCMSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2023 | $0.158 | OrdinaryDividend |
Dec 30, 2022 | $0.115 | OrdinaryDividend |
Dec 31, 2021 | $0.057 | OrdinaryDividend |
Dec 31, 2020 | $0.059 | OrdinaryDividend |
Dec 31, 2019 | $0.127 | OrdinaryDividend |
Dec 31, 2018 | $0.051 | OrdinaryDividend |
Dec 29, 2017 | $0.024 | OrdinaryDividend |
Dec 30, 2016 | $0.044 | OrdinaryDividend |
CCMSX - Fund Manager Analysis
Managers
Eugene Fox
Start Date
Tenure
Tenure Rank
Apr 01, 2014
8.17
8.2%
Eugene Fox, III is a managing partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1987. Before leaving for Cardinal in 1995, Eugene was a managing director of Deltec Asset Management where he and Amy Minella, a retired partner, built the value equity investment management business. Eugene joined Deltec from D.S. Kennedy & Co., a small cap value equity firm, where he was an investment analyst and previously held financial positions at FMC Corporation from 1984 to 1991. These included five years as the dire
Rachel Matthews
Start Date
Tenure
Tenure Rank
Apr 01, 2014
8.17
8.2%
Rachel D. Matthews is a partner of Cardinal Capital. She is responsible for investment research and portfolio management. She has been in the investment industry since 1989. Prior to joining Cardinal in 2001, Rachel spent three years as a high yield bond trader at OppenheimerFunds, Inc. responsible for trade execution and relative value trades for $7 billion in assets. She was previously a sell-side trader of short-term U.S. government securities at HSBC Securities for two years, responsible for a gross trading position of $500 million. Previously, Rachel was a private placement credit analyst at the Mutual Life Insurance Company of New York for three years specializing in the manufacturing, chemical, railroad, and finance industries. She started her career at MONY in 1988 as a systems analyst in the real estate area. Rachel holds a BA in economics from Columbia University and a MBA in finance from New York University.
Robert Kirkpatrick
Start Date
Tenure
Tenure Rank
Apr 01, 2014
8.17
8.2%
Robert B. Kirkpatrick, CFA is a managing partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1985. Prior to joining Cardinal in 2000, Robert was a partner at Breeco Management, a $125 million equity hedge fund for three years. Previously, he held senior equity portfolio management positions with Unifund S.A., a Swiss-based global private investment company with over $1 billion in capital. Robert also served for six years as a managing director at Bigler/Crossroads, a $700 million venture capital and small
Robert Fields
Start Date
Tenure
Tenure Rank
Dec 31, 2015
6.42
6.4%
Robert H. Fields is a partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1998. Prior to joining Cardinal in 2013, Robert was a partner and portfolio manager for two years at Ana Capital Management, a long-biased opportunistic value investment firm. Previously, he was a partner and director of research at Breeden Capital Management, a concentrated, long-only investment firm and an analyst covering value equities and distressed debt at MFP Investors, the personal investment firm of Michael F. Price. Robert holds a BS from Ball State University and a MBA from The Wharton School at The University of Pennsylvania.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 49.61 | 7.05 | 2.58 |