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Name

As of 12/23/2024

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

Summitry Equity Fund

GGEFX | Fund

$24.96

$73.8 M

0.00%

1.35%

Vitals

YTD Return

26.7%

1 yr return

27.3%

3 Yr Avg Return

10.0%

5 Yr Avg Return

13.8%

Net Assets

$73.8 M

Holdings in Top 10

50.9%

52 WEEK LOW AND HIGH

$24.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.57%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/23/2024

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

Summitry Equity Fund

GGEFX | Fund

$24.96

$73.8 M

0.00%

1.35%

GGEFX - Profile

Distributions

  • YTD Total Return 26.7%
  • 3 Yr Annualized Total Return 10.0%
  • 5 Yr Annualized Total Return 13.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.61%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Summitry Equity Fund
  • Fund Family Name
    Golub
  • Inception Date
    Apr 03, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kurt Hoefer

Fund Description

The Fund invests primarily in common stocks that in the opinion of the Fund’s adviser, Summitry LLC, (the “Adviser”) appear to be temporarily undervalued by the market. The Adviser focuses on businesses that have strong cash flow, solid balance sheets, a history of consistent profitability, high return on capital, and the capacity to pay and regularly increase dividends. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowing for investment purposes) in equity securities.

The Adviser considers a security to be temporarily undervalued if the security’s intrinsic value as assessed by the Adviser’s proprietary “Equity Research and Portfolio Implementation Process,” is significantly greater than the range in which the security is trading in the securities markets. In order to implement this strategy, the Adviser will focus on large capitalization global businesses, pay strict attention to the valuation of each business, and invest for the long-term.

The Adviser will select portfolio securities after a security has passed through its “Equity Research and Portfolio Implementation Process.” Typically, this process begins with quantitative screens or other idea sources that narrow the initial universe of stocks based on market capitalization, valuation metrics, return metrics, growth characteristics and financial strength.

Equity securities in which the Fund may invest include common stocks and common stock equivalents (such as rights or warrants, which give the Fund the ability to purchase the common stock, and convertible securities, which are securities that are convertible into the common stock), real estate investment trusts (“REITs”), and shares of other investment companies (including open-end and closed-end funds and exchange-traded funds (“ETFs”)) whose portfolios primarily consist of equity securities. The Fund also may invest in foreign companies, either directly or through American Depositary Receipts (“ADRs”), which are receipts issued by U.S. banks for shares of a foreign corporation that entitle the holder to dividends and capital gains on the underlying security. The Fund may invest up to 20% of its net assets in cash and other cash equivalents.

Overpriced securities and those with deteriorating fundamentals that cannot support the current valuation of the security are candidates for sale.

Read More

GGEFX - Performance

Return Ranking - Trailing

Period GGEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 26.7% -53.3% 47.6% 29.34%
1 Yr 27.3% -53.0% 47.8% 25.52%
3 Yr 10.0%* -24.7% 16.4% 17.80%
5 Yr 13.8%* -10.4% 108.3% 43.66%
10 Yr 10.8%* -0.6% 52.3% 66.31%

* Annualized

Return Ranking - Calendar

Period GGEFX Return Category Return Low Category Return High Rank in Category (%)
2023 20.3% -42.6% 47.4% 41.85%
2022 -31.5% -56.3% -4.2% 94.64%
2021 17.3% -27.2% 537.8% 48.51%
2020 15.4% -22.5% 2181.7% 31.45%
2019 23.3% -13.5% 40.4% 50.00%

Total Return Ranking - Trailing

Period GGEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 26.7% -53.3% 47.6% 29.34%
1 Yr 27.3% -53.0% 47.8% 25.52%
3 Yr 10.0%* -24.7% 16.4% 17.80%
5 Yr 13.8%* -10.4% 108.3% 43.66%
10 Yr 10.8%* -0.6% 52.3% 66.31%

* Annualized

Total Return Ranking - Calendar

Period GGEFX Return Category Return Low Category Return High Rank in Category (%)
2023 30.9% -5.0% 47.4% 5.24%
2022 -20.4% -36.8% -2.2% 83.67%
2021 25.3% 3.0% 537.8% 65.87%
2020 15.4% -15.8% 2266.0% 59.63%
2019 26.6% -0.4% 241.3% 80.15%

NAV & Total Return History

GGEFX - Holdings

Concentration Analysis

GGEFX Category Low Category High GGEFX % Rank
Net Assets 73.8 M 2.34 M 1.84 T 90.55%
Number of Holdings 28 2 3963 95.69%
Net Assets in Top 10 36.9 M 880 K 525 B 89.22%
Weighting of Top 10 50.94% 0.3% 111.6% 8.66%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co. Ltd. 6.23%
  2. Alphabet, Inc. 6.06%
  3. Fiserv, Inc. 5.82%
  4. Amazon.com, Inc. 5.41%
  5. Meta Platforms, Inc. 5.12%
  6. Visa, Inc. 4.85%
  7. MasterCard, Inc. 4.50%
  8. Ulta Beauty, Inc. 4.47%
  9. Zebra Technologies Corp. 4.35%
  10. Agilent Technologies, Inc. 4.13%

Asset Allocation

Weighting Return Low Return High GGEFX % Rank
Stocks 		98.41% 0.00% 105.79% 63.10%
Cash 		1.65% 0.00% 99.07% 33.33%
Preferred Stocks 		0.00% 0.00% 2.15% 27.11%
Other 		0.00% -13.91% 100.00% 49.83%
Convertible Bonds 		0.00% 0.00% 5.54% 22.96%
Bonds 		0.00% 0.00% 93.85% 28.69%

Stock Sector Breakdown

Weighting Return Low Return High GGEFX % Rank
Communication Services 		22.45% 0.00% 27.94% 1.44%
Consumer Cyclical 		22.16% 0.00% 30.33% 0.84%
Financial Services 		21.37% 0.00% 55.59% 7.18%
Technology 		20.42% 0.00% 48.94% 74.24%
Industrials 		6.34% 0.00% 29.90% 93.58%
Healthcare 		5.34% 0.00% 52.29% 98.31%
Consumer Defense 		1.91% 0.00% 47.71% 96.11%
Utilities 		0.00% 0.00% 20.91% 87.08%
Real Estate 		0.00% 0.00% 31.91% 89.27%
Energy 		0.00% 0.00% 41.64% 88.09%
Basic Materials 		0.00% 0.00% 25.70% 95.19%

Stock Geographic Breakdown

Weighting Return Low Return High GGEFX % Rank
US 		98.41% 0.00% 105.79% 54.98%
Non US 		0.00% 0.00% 63.83% 36.90%

GGEFX - Expenses

Operational Fees

GGEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.35% 0.01% 19.75% 18.86%
Management Fee 1.00% 0.00% 1.90% 96.50%
12b-1 Fee 0.00% 0.00% 1.00% 4.38%
Administrative Fee N/A 0.00% 0.85% 52.21%

Sales Fees

GGEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GGEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

GGEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.57% 0.00% 268.00% 47.98%

GGEFX - Distributions

Dividend Yield Analysis

GGEFX Category Low Category High GGEFX % Rank
Dividend Yield 0.00% 0.00% 25.47% 92.52%

Dividend Distribution Analysis

GGEFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

GGEFX Category Low Category High GGEFX % Rank
Net Income Ratio -0.61% -54.00% 2.44% 96.10%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GGEFX - Fund Manager Analysis

Managers

Kurt Hoefer

Start Date

Tenure

Tenure Rank

Apr 01, 2009

13.17

13.2%

Kurt has conducted investment analysis and related work since 1987. Prior to joining the firm, he founded Hoefer Capital Management, LLC to counsel families and individuals on investment and financial matters. Previously, he was an investment banker with Thomas Weisel Partners and Banc of America Securities, an institutional stock analyst at Salomon Brothers, and a member of the investment team for a family office, Shamrock Capital Partners. Kurt received his MBA from the UCLA–Anderson School of Management and his Bachelor of Arts in Economics from Stanford University. In addition, Kurt is a CFA charterholder.

Colin Higgins

Start Date

Tenure

Tenure Rank

Apr 01, 2009

13.17

13.2%

Colin has been conducting investment analysis, equity research and portfolio management since 1996. Colin has been a member of the Charles Schwab Advisory Board and was recognized as a “40 under Forty” by the Silicon Valley/San Jose Business Journal. Prior to the formation of the Golub Group, Colin served as a research analyst and portfolio manager with regional investment firms Branch Cabell, & Co. and Hoefer and Arnett, Inc. Colin graduated from Washington and Lee University with a Bachelor of Arts in 1994 where he was a captain and an All-American lacrosse player.

Michael Kon

Start Date

Tenure

Tenure Rank

Jan 01, 2017

5.41

5.4%

Michael Kon, CFA — Portfolio Manager and Senior Research Analyst of the Adviser. Mr. Kon has been involved in securities and financial analysis since 2002. Prior to joining Summitry, he was a senior analyst covering financial services for Morningstar, a leading investment research firm based in Chicago Illinois, from 2006 to 2012. He also served as a senior M&A attorney at Rotman & Co from 1998 to 2002. Mr. Kon received his LLB degree from Tel Aviv University in 1999, his Bachelor of Arts in Economics & Management from the Tel Aviv Open University in 2000, and his MBA from McGill University in 2004. Mr. Kon also achieved the Chartered Financial Analyst designation in 2006.

Matthew Gordon

Start Date

Tenure

Tenure Rank

Oct 31, 2018

3.58

3.6%

Matthew Gordon, CFA — Senior Equity Analyst of Golub Group, LLC. Mr. Gordon has been involved in securities and financial analysis since 2003. He began his career at Putnam Investments in Boston, focusing on the healthcare sector. Mr. Gordon joined Golub Group as an Equity Analyst in 2013 before going on to found Grouse Rock, LLC, a registered investment adviser, in 2015. He rejoined Golub Group in 2017. Mr. Gordon earned his BA in Computer Science from Amherst College and his MBA from Columbia Business School. Mr. Gordon achieved the Chartered Financial Analyst designation in 2007.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.29 2.42

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