Hood River Small-Cap Growth Fund
Fund
HRSRX
Price as of:
$81.36
+ $1.04
+ 1.29%
Primary Theme
fund company
Name
As of 11/22/2024Price
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
Vitals
YTD Return
46.2%
1 yr return
63.0%
3 Yr Avg Return
7.7%
5 Yr Avg Return
21.5%
Net Assets
$2.08 B
Holdings in Top 10
39.9%
52 WEEK LOW AND HIGH
$80.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 119.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/22/2024Price
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
HRSRX - Profile
Distributions
- YTD Total Return 46.2%
- 3 Yr Annualized Total Return 7.7%
- 5 Yr Annualized Total Return 21.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.68%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameHood River Small-Cap Growth Fund
-
Fund Family NameDakota Funds
-
Inception DateJan 02, 2003
-
Shares Outstanding894905
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrian Smoluch
Fund Description
The Fund, under normal market conditions, invests at least 80% of its net assets plus any borrowings for investment purposes in common stocks of U.S. corporations that are judged by Hood River Capital Management LLC (“Hood River” or the “Adviser”), the Fund’s investment adviser, to have strong growth characteristics or to be undervalued in the marketplace relative to underlying profitability and have a market capitalization which, at the time of purchase, is consistent with the capitalization ranges of the S&P SmallCap 600® Index and the Russell 2000® Growth Index (“small-cap companies”). Although the Fund does not invest in derivatives as part of its principal investment strategy, the Fund may include in its 80% calculation derivative investments that are tied economically to small-cap companies.
The Fund may purchase securities of companies engaged in initial public offerings (“IPOs”). The Fund may also invest in equity securities of Special Purpose Acquisitions Corporations (“SPACs”) and companies derived from SPACs. SPACs (also known as “blank check companies”) are companies with no commercial operations that are established solely to raise capital from investors for the purpose of acquiring one or more operating businesses (i.e., a SPAC-derived company). The Fund may invest in securities that are purchased in private investment in public equity (“PIPE”) transactions.
The Fund may from time to time invest in foreign securities including American Depositary Receipts (“ADRs”), and in convertible securities, including preferred stock, warrants and debentures.
The Fund may invest in the securities of other investment companies, including exchange-traded funds (“ETFs”), to the extent permitted by the Investment Company Act of 1940, as amended (the “1940 Act”), and the rules thereunder.
In selecting securities, the research process utilized by Hood River begins by screening a universe of stocks with market capitalizations of generally less than $5 billion which exhibit strong growth characteristics and attractive valuation relative to underlying profitability. In order to identify companies with such attributes, Hood River conducts fundamental analysis through discussions with management, customers, suppliers, competitors, and industry experts to forecast financial metrics for a potential investment target. The Fund’s portfolio will consist of companies for which Hood River has conviction in its own proprietary estimates and believes that they are significantly higher than consensus estimates. Hood River then performs valuation analysis and additional research to select stocks for the Fund.
The Fund maintains a portfolio of approximately 60-120 stocks, which is constructed with the overall goal of mitigating risk. However, the actual amount of the portfolio holdings may vary due to market conditions. Portfolio risk is addressed through position and sector sizing limits. The Fund is expected to have significant exposure to the health care, industrials, and information technology sectors.
Hood River periodically engages in active trading of Fund securities.
Hood River generally sells stocks when it believes they have become overvalued, when the fundamentals weaken or if poor relative price performance persists.
As of September 30, 2024, the average weighted market capitalization represented by companies in the Russell 2000® Growth Index was approximately $4.1 billion, and the average weighted market capitalization represented by companies in the S&P SmallCap 600® Index was $3.9 billion. Due to market price adjustments or other events after the time of purchase, it is possible that a company’s market capitalization may drift above or below this range. Nevertheless, a company whose capitalization no longer meets this definition after purchase continues to be considered to have a small market capitalization for purposes of the 80% policy. The Fund may invest up to 20% of its total assets in stocks of companies in other capitalization ranges.
HRSRX - Performance
Return Ranking - Trailing
| Period | HRSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 46.2% | -0.3% | 99.0% | 2.01% |
| 1 Yr | 63.0% | 5.6% | 97.2% | 2.55% |
| 3 Yr | 7.7%* | -17.5% | 60.9% | 2.96% |
| 5 Yr | 21.5%* | -2.8% | 48.2% | 2.33% |
| 10 Yr | N/A* | 1.6% | 25.2% | 3.41% |
* Annualized
Return Ranking - Calendar
| Period | HRSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 21.3% | -20.5% | 54.6% | 11.90% |
| 2022 | -28.1% | -82.1% | 32.2% | 37.96% |
| 2021 | 2.4% | -90.6% | 300.1% | 26.54% |
| 2020 | 50.3% | -63.0% | 127.9% | 14.34% |
| 2019 | 23.9% | -7.7% | 42.9% | 42.03% |
Total Return Ranking - Trailing
| Period | HRSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 46.2% | -0.3% | 99.0% | 2.01% |
| 1 Yr | 63.0% | 5.6% | 97.2% | 2.55% |
| 3 Yr | 7.7%* | -17.5% | 60.9% | 2.96% |
| 5 Yr | 21.5%* | -2.8% | 48.2% | 2.33% |
| 10 Yr | N/A* | 1.6% | 25.2% | 3.42% |
* Annualized
Total Return Ranking - Calendar
| Period | HRSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 21.3% | -19.0% | 136.8% | 14.29% |
| 2022 | -28.1% | -59.9% | 44.3% | 50.56% |
| 2021 | 23.5% | -22.7% | 411.9% | 9.16% |
| 2020 | 60.4% | 1.5% | 150.8% | 13.37% |
| 2019 | 23.9% | 5.5% | 55.3% | 82.47% |
NAV & Total Return History
HRSRX - Holdings
Concentration Analysis
| HRSRX | Category Low | Category High | HRSRX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.08 B | 209 K | 34.3 B | 28.10% |
| Number of Holdings | 105 | 7 | 1226 | 44.71% |
| Net Assets in Top 10 | 1.05 B | 53.8 K | 3.24 B | 7.48% |
| Weighting of Top 10 | 39.94% | 7.5% | 100.0% | 12.98% |
Top 10 Holdings
- Mount Vernon Liquid Assets Portfolio, LLC 13.93%
- FTAI Aviation Ltd 6.61%
- First American Treasury Obligations Fund 3.70%
- MasTec Inc 2.56%
- Rambus Inc 2.54%
- Clean Harbors Inc 2.20%
- Comfort Systems USA Inc 2.20%
- FormFactor Inc 2.17%
- Coherent Corp 2.08%
- Kirby Corp 1.96%
Asset Allocation
| Weighting | Return Low | Return High | HRSRX % Rank | |
|---|---|---|---|---|
| Stocks | 96.37% | 85.75% | 107.62% | 80.11% |
| Cash | 17.63% | 0.00% | 28.78% | 1.28% |
| Preferred Stocks | 0.00% | 0.00% | 4.63% | 17.52% |
| Other | 0.00% | -0.26% | 6.70% | 37.41% |
| Convertible Bonds | 0.00% | 0.00% | 1.57% | 7.48% |
| Bonds | 0.00% | 0.00% | 2.40% | 9.12% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HRSRX % Rank | |
|---|---|---|---|---|
| Industrials | 22.41% | 0.00% | 36.64% | 9.67% |
| Consumer Cyclical | 21.30% | 0.00% | 24.04% | 3.28% |
| Healthcare | 19.29% | 0.00% | 47.90% | 72.99% |
| Technology | 18.51% | 2.91% | 75.51% | 83.94% |
| Financial Services | 9.36% | 0.00% | 42.95% | 26.82% |
| Consumer Defense | 2.86% | 0.00% | 13.56% | 69.34% |
| Real Estate | 2.57% | 0.00% | 15.31% | 42.88% |
| Basic Materials | 1.87% | 0.00% | 9.24% | 63.14% |
| Energy | 1.12% | 0.00% | 55.49% | 68.07% |
| Communication Services | 0.71% | 0.00% | 15.31% | 74.27% |
| Utilities | 0.00% | 0.00% | 5.57% | 37.41% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HRSRX % Rank | |
|---|---|---|---|---|
| US | 96.37% | 17.30% | 107.62% | 68.61% |
| Non US | 0.00% | 0.00% | 77.12% | 29.56% |
HRSRX - Expenses
Operational Fees
| HRSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.31% | 0.05% | 23.20% | 39.49% |
| Management Fee | 0.90% | 0.05% | 1.62% | 77.51% |
| 12b-1 Fee | 0.17% | 0.00% | 1.00% | 27.00% |
| Administrative Fee | N/A | 0.01% | 0.40% | 28.27% |
Sales Fees
| HRSRX 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
| HRSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 76.67% |
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.
| HRSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 119.00% | 3.00% | 264.00% | 88.33% |
HRSRX - Distributions
Dividend Yield Analysis
| HRSRX | Category Low | Category High | HRSRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 6.91% | 22.99% |
Dividend Distribution Analysis
| HRSRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| HRSRX | Category Low | Category High | HRSRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.68% | -2.47% | 1.10% | 45.57% |
Capital Gain Distribution Analysis
| HRSRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 09, 2021 | $12.955 | OrdinaryDividend |
| Dec 10, 2020 | $3.961 | OrdinaryDividend |
| Dec 13, 2018 | $0.221 | CapitalGainShortTerm |
| Dec 13, 2018 | $1.327 | CapitalGainLongTerm |
| Dec 14, 2017 | $0.522 | CapitalGainShortTerm |
| Dec 14, 2017 | $2.024 | CapitalGainLongTerm |
| Dec 09, 2015 | $1.690 | CapitalGainLongTerm |
HRSRX - Fund Manager Analysis
Managers
Brian Smoluch
Start Date
Tenure
Tenure Rank
Jan 02, 2003
19.42
19.4%
Brian founded Hood River Capital Management, which spun out of Roxbury Capital Management, where he managed the Small-Cap Growth product for 10 years. Prior to Roxbury, Brian was part of the small/mid-cap team at Columbia Management. He began his career as an investment banking financial analyst at Salomon Brothers in New York. Brian has a B.S. with Distinction from the University of Virginia and an M.B.A. in finance from Harvard University.
David Swank
Start Date
Tenure
Tenure Rank
Apr 30, 2009
13.09
13.1%
David founded Hood River Capital Management, which spun out of Roxbury Capital Management, where he managed the Small-Cap Growth product for 5 years. Prior to Roxbury, David worked for GMT Capital Corporation as the healthcare sector head of a $4 billion long/short equity hedge fund. He previously worked at Morgan Stanley Investment Management and began his career as a research associate at Furman Selz and Montgomery Securities. David has a B.S. with Distinction from the University of Virginia and an M.B.A. from the Tuck School of Business at Dartmouth College.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.44 | 9.12 | 5.25 |