FullerThaler Behavioral Micro-Cap Equity Fund Institutional Shares (FTMSX)

Fund Assets	27.00M
Expense Ratio	1.35%
Min. Investment	$100,000
Turnover	111.00%
Dividend (ttm)	n/a
Dividend Yield	n/a
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	n/a

Previous Close	34.95
YTD Return	30.66%
1-Year Return	32.18%
5-Year Return	11.77%
52-Week Low	23.92
52-Week High	36.30
Beta (5Y)	1.33
Holdings	74
Inception Date	Dec 28, 2018

About FTMSX

FullerThaler Behavioral Micro-Cap Equity Fund Institutional Shares is an open-end mutual fund that focuses on long-term capital appreciation by investing primarily in U.S. micro-cap equities. The fund is managed with a behavioral finance approach, seeking to exploit market inefficiencies driven by investor behavior rather than relying solely on traditional fundamental analysis. It invests at least 80% of its assets in stocks of micro-cap companies, often in sectors such as financial services, technology, healthcare, energy, and consumer defensive, aiming to mirror the risk and return characteristics of the Russell Microcap Index. The fund is classified in the small value category, reflecting an emphasis on undervalued micro-cap stocks with potential for growth. Notable features include a relatively high portfolio turnover and a concentrated portfolio, with the top 10 holdings representing over a quarter of total assets. Its institutional share class is designed for larger investors, requiring a higher minimum investment. The fund plays a specialized role in the financial market by providing access to a segment of the equity market that is less efficiently priced and often underrepresented in broader portfolios, appealing to investors seeking diversification through micro-cap exposure.

• Fund Family: FullerThaler
• Category: Small Value
• Performance Rating: Low
• Risk Rating: High
• Stock Exchange: NASDAQ
• Ticker Symbol: FTMSX
• Share Class: Institutional Shares
• Index: Russell Micro Cap TR

Performance

FTMSX had a total return of 32.18% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.36%.

Top 10 Holdings

27.41% of assets

Name	Symbol	Weight
Digital Turbine, Inc.	APPS	4.63%
Ultra Clean Holdings, Inc.	UCTT	3.40%
Porch Group, Inc.	PRCH	3.01%
Ichor Holdings, Ltd.	ICHR	2.70%
Sezzle Inc.	SEZL	2.52%
Dave Inc.	DAVE	2.33%
Emergent BioSolutions Inc.	EBS	2.27%
agilon health, inc.	AGL	2.26%
Bandwidth Inc.	BAND	2.17%
Delek US Holdings, Inc.	DK	2.11%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 26, 2024	$0.0331	Dec 26, 2024
Dec 7, 2021	$2.7455	Dec 8, 2021
Dec 22, 2020	$0.09703	Dec 23, 2020
Dec 13, 2019	$1.11703	Dec 13, 2019

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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