Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.1%
1 yr return
16.8%
3 Yr Avg Return
3.2%
5 Yr Avg Return
7.7%
Net Assets
$29.3 M
Holdings in Top 10
21.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.92%
SALES FEES
Front Load 4.50%
Deferred Load N/A
TRADING FEES
Turnover 37.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
KSMVX - Profile
Distributions
- YTD Total Return 2.1%
- 3 Yr Annualized Total Return 3.2%
- 5 Yr Annualized Total Return 7.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.59%
- Dividend Yield 1.2%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameKeeley Small-Mid Cap Value Fund
-
Fund Family NameGabelli/Teton/Keeley Complex
-
Inception DateAug 15, 2007
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerScott Butler
Fund Description
The Fund intends to pursue its investment objective by investing in equity securities of companies with small or mid-sized market capitalizations. Under normal market conditions, the Fund will invest no less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in common stocks and other equity type securities (including preferred stock, convertible debt securities and warrants) of “small cap” or “mid cap” companies, which the Adviser currently defines as securities within the range of the Russell 2500® Value Index (the “Index”) at the time of investment. The market cap range of the Index changes daily, and as a result, the capitalization of small and mid-cap companies in which the Fund invests will also change. As of December 31, 2023, the market capitalization range of the Index was approximately $16.8 million to $22.3 billion.
In making investment decisions for the Fund, the Adviser employs a “value” investment philosophy, which is based upon the belief that, at times, the market value of an asset may deviate from its underlying (“intrinsic”) value, and that the market price and the intrinsic value should converge over the long-term. The Adviser focuses its attention on particular kinds of undervalued stocks and constructs the Fund’s portfolio using a rigorous, “bottom-up” investment process that concentrates on individual companies (rather than on macroeconomic trends), particularly those undergoing major changes (for example, corporate restructuring), including:
| ● | corporate spin-offs (tax-free distributions of a parent company’s division to shareholders); |
| ● | financial restructuring, including acquisitions, recapitalizations and companies emerging from bankruptcy; |
| ● | savings and loan and insurance conversions from mutual to stock companies; and |
| ● | event driven, special situations that may create enhanced opportunities through industry and/or corporate dislocation (for example, overall industry change or restructuring, the presence of undervalued assets, or corporate or management change). |
As part of this process, the Adviser conducts extensive research into, and analyses of, each candidate company’s business fundamentals, seeking undervalued companies that meet certain criteria identified by the Adviser from time to time. Each stock is judged on its potential for above-average capital appreciation. The Adviser does not take into account current dividend or interest income when choosing securities for the Fund. The Adviser continuously monitors each holding in the Fund’s portfolio and adjusts its view on the intrinsic value of such securities, as necessary, to reflect changes in a company’s fundamentals.
It is the Adviser’s intention for the Fund typically to hold securities for more than two years to allow the corporate restructuring process to yield results. The Adviser usually sells a stock when the market price meets or exceeds the Adviser’s estimate of the stock’s intrinsic value. However, the Adviser may sell securities for a number of reasons, including when a more attractive opportunity emerges, when a company’s fundamentals deteriorate and impair the long-term quality of the company’s business, when a company becomes over-weighted in the portfolio, when operating difficulties or other circumstances make selling desirable, or when the Adviser’s investment thesis otherwise no longer holds for the security.
As long as an investment continues to meet the Fund’s criteria set forth above, the Fund may choose to hold such securities even if the company’s capitalization moves outside the Russell 2500® Value Index range. If less than 80% of the Fund’s net assets (plus the amount of any borrowings for investment purposes) are invested in companies with a small or a mid-size market capitalization, the Fund will not invest in companies other than those with a small or a mid-size market capitalization until the 80% threshold is restored.
The Fund may be suitable for the more aggressive section of an investor’s portfolio. The Fund is designed for people who want to grow their capital over the long-term and who are comfortable with possible frequent short-term changes in the value of their investment. An investment in the Fund should not be considered a complete investment program.
KSMVX - Performance
Return Ranking - Trailing
| Period | KSMVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.1% | -7.3% | 7.9% | 36.19% |
| 1 Yr | 16.8% | -8.6% | 31.0% | 18.77% |
| 3 Yr | 3.2%* | -5.1% | 13.8% | 72.01% |
| 5 Yr | 7.7%* | -0.9% | 15.7% | 59.27% |
| 10 Yr | 6.4%* | -0.1% | 11.8% | 79.69% |
* Annualized
Return Ranking - Calendar
| Period | KSMVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.4% | -11.3% | 33.3% | 41.94% |
| 2022 | -24.6% | -41.6% | 2.3% | 94.02% |
| 2021 | -2.6% | -41.5% | 44.9% | 96.19% |
| 2020 | -4.6% | -29.0% | 22.1% | 84.76% |
| 2019 | 10.5% | -8.1% | 31.2% | 94.57% |
Total Return Ranking - Trailing
| Period | KSMVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.1% | -7.3% | 7.9% | 36.19% |
| 1 Yr | 16.8% | -8.6% | 31.0% | 18.77% |
| 3 Yr | 3.2%* | -5.1% | 13.8% | 72.01% |
| 5 Yr | 7.7%* | -0.9% | 15.7% | 59.27% |
| 10 Yr | 6.4%* | -0.1% | 11.8% | 79.69% |
* Annualized
Total Return Ranking - Calendar
| Period | KSMVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 19.2% | -3.7% | 36.5% | 11.83% |
| 2022 | -13.2% | -35.0% | 2.4% | 90.22% |
| 2021 | 25.9% | 6.2% | 48.3% | 74.39% |
| 2020 | 0.6% | -22.9% | 23.2% | 65.65% |
| 2019 | 31.7% | -3.0% | 35.7% | 6.86% |
NAV & Total Return History
KSMVX - Holdings
Concentration Analysis
| KSMVX | Category Low | Category High | KSMVX % Rank | |
|---|---|---|---|---|
| Net Assets | 29.3 M | 991 K | 28 B | 95.72% |
| Number of Holdings | 83 | 8 | 2449 | 46.79% |
| Net Assets in Top 10 | 6.15 M | 250 K | 4.28 B | 97.06% |
| Weighting of Top 10 | 21.11% | 5.0% | 104.2% | 52.67% |
Top 10 Holdings
- United States Treasury Bill 4.48%
- TechnipFMC PLC 2.03%
- Zimvie Inc 1.92%
- Spectrum Brands Holdings Inc 1.92%
- Equitable Holdings Inc 1.91%
- Knife River Corp 1.86%
- Kontoor Brands Inc 1.81%
- NRG Energy Inc 1.74%
- Crane Co 1.73%
- Esab Corp 1.70%
Asset Allocation
| Weighting | Return Low | Return High | KSMVX % Rank | |
|---|---|---|---|---|
| Stocks | 95.59% | 56.38% | 102.65% | 90.37% |
| Bonds | 4.48% | 0.00% | 27.69% | 0.53% |
| Preferred Stocks | 0.00% | 0.00% | 5.43% | 10.16% |
| Other | 0.00% | -1.97% | 8.33% | 36.10% |
| Convertible Bonds | 0.00% | 0.00% | 0.02% | 3.49% |
| Cash | 0.00% | 0.00% | 43.98% | 94.92% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KSMVX % Rank | |
|---|---|---|---|---|
| Industrials | 20.19% | 0.00% | 29.02% | 14.25% |
| Financial Services | 18.63% | 0.00% | 60.11% | 46.24% |
| Consumer Cyclical | 11.63% | 0.00% | 29.62% | 41.67% |
| Energy | 9.86% | 0.00% | 29.17% | 19.62% |
| Healthcare | 9.79% | 0.00% | 32.47% | 42.20% |
| Real Estate | 8.12% | 0.00% | 40.74% | 45.70% |
| Technology | 7.36% | 0.00% | 30.07% | 78.49% |
| Consumer Defense | 5.17% | 0.00% | 33.79% | 58.87% |
| Basic Materials | 3.58% | 0.00% | 23.88% | 74.46% |
| Utilities | 3.39% | 0.00% | 24.69% | 74.19% |
| Communication Services | 2.28% | 0.00% | 19.80% | 52.69% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KSMVX % Rank | |
|---|---|---|---|---|
| US | 95.59% | 56.38% | 102.65% | 72.46% |
| Non US | 0.00% | 0.00% | 34.45% | 28.61% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | KSMVX % Rank | |
|---|---|---|---|---|
| Derivative | 0.00% | -1.97% | 2.10% | 11.23% |
| Cash & Equivalents | 0.00% | 0.00% | 100.00% | 75.94% |
| Securitized | 0.00% | 0.00% | 22.78% | 4.52% |
| Corporate | 0.00% | 0.00% | 100.00% | 9.94% |
| Municipal | 0.00% | 0.00% | 0.00% | 3.31% |
| Government | 0.00% | 0.00% | 36.92% | 5.12% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | KSMVX % Rank | |
|---|---|---|---|---|
| US | 4.48% | 0.00% | 27.69% | 0.53% |
| Non US | 0.00% | 0.00% | 0.00% | 3.21% |
KSMVX - Expenses
Operational Fees
| KSMVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.92% | 0.01% | 16.92% | 8.56% |
| Management Fee | 1.00% | 0.00% | 1.20% | 98.66% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 30.30% |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| KSMVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.50% | 3.50% | 5.75% | 91.11% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| KSMVX 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.
| KSMVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 37.00% | 0.00% | 227.00% | 36.47% |
KSMVX - Distributions
Dividend Yield Analysis
| KSMVX | Category Low | Category High | KSMVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.24% | 0.00% | 23.87% | 5.09% |
Dividend Distribution Analysis
| KSMVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| KSMVX | Category Low | Category High | KSMVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.59% | -1.84% | 4.73% | 63.07% |
Capital Gain Distribution Analysis
| KSMVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.788 | OrdinaryDividend |
| Dec 28, 2022 | $1.207 | OrdinaryDividend |
| Dec 29, 2021 | $0.061 | OrdinaryDividend |
| Nov 28, 2018 | $0.034 | OrdinaryDividend |
| Dec 28, 2017 | $0.081 | OrdinaryDividend |
| Dec 27, 2016 | $0.016 | OrdinaryDividend |
| Dec 28, 2015 | $0.019 | OrdinaryDividend |
| Dec 29, 2014 | $0.034 | OrdinaryDividend |
| Dec 31, 2013 | $0.020 | OrdinaryDividend |
| Dec 31, 2012 | $0.029 | OrdinaryDividend |
| Dec 29, 2009 | $0.011 | OrdinaryDividend |
| Dec 27, 2007 | $0.012 | OrdinaryDividend |
KSMVX - Fund Manager Analysis
Managers
Scott Butler
Start Date
Tenure
Tenure Rank
Jan 28, 2019
3.34
3.3%
Mr. Butler joined Teton Advisors with eight years combined investment experience at Intrepid Capital Management and Trust Company of the West (TCW). While at Intrepid, Mr. Butler covered the video game and software industries. At TCW, he worked alongside Mr. Galluccio on the small and mid cap portfolio management teams as a special situations generalist with a focus on software, industrial and medical technology sectors. Mr. Butler holds a B.A. from Claremont McKenna College and a B.S. from Columbia University.
Nicholas Galluccio
Start Date
Tenure
Tenure Rank
Jan 28, 2019
3.34
3.3%
Portfolio Manager of the TETON Westwood SmallCap Equity Fund and the TETON Westwood Mid-Cap Equity Fund, Mr. Galluccio, joined Teton Advisors, Inc. in 2008, after a 25 year career at Trust Company of the West (TCW) where he was Group Managing Director, U.S. Equities and led the investment team for the TCW SmallCap Value Added and TCW MidCap Value Opportunities equity strategies. He was senior portfolio manager and co-managed both strategies since their inception. Prior to TCW, he was with Lehman Brothers Kuhn Loeb where he was a security analyst specializing in the semiconductor industry. Prio
Thomas Browne
Start Date
Tenure
Tenure Rank
Jul 01, 2020
1.92
1.9%
Mr. Browne joined Keeley Teton upon its operational inception on March 1, 2017 and has 32 years of investment experience. Prior to that date, Mr. Browne served as a Portfolio Manager (2009‐2017) of the Small Cap Dividend Value and Mid‐Cap Dividend Value strategies on behalf of Keeley Asset Management Corp. (“KAMCO”). Before joining KAMCO, he was a Portfolio Manager in charge of Oppenheimer Capital’s small‐cap core and small‐cap value strategies. Prior to that, Mr. Browne managed a mid‐cap portfolio for SEB Asset Management and was an analyst at small cap investment firm Palisade Capital Management. Earlier in his career, Mr. Browne was a sell‐side technology services analyst for Prudential Securities and was twice recognized in the Wall Street Journal’s Best on the Street survey. Mr. Browne earned his M.B.A. from New York University Stern School of Business and his B.B.A. from the University of Notre Dame. In addition, Mr. Browne holds the Chartered Financial Analyst designation from the CFA Institute.
Brian Leonard
Start Date
Tenure
Tenure Rank
Jul 01, 2020
1.92
1.9%
Mr. Leonard joined Keeley Teton Advisors, LLC (“Keeley Teton”) on March 1, 2017. Prior to joining Keeley Teton, Mr. Leonard served as a Portfolio Manager (2004-2017) and Research Analyst and Client Service Associate (2004-2009) with Keeley Asset Management Corp. (“KAMCO”). While employed by KAMCO, Mr. Leonard managed client portfolios for KAMCO’s historical clients in a manner consistent with the strategies he currently manages for Keeley Teton. Before joining KAMCO, Mr. Leonard was an Associate with CRA RogersCasey from 1998 to 2004. Brian earned his M.S. in finance from St. Xavier University’s Graham School of Management and his B.S. from DePaul University. In addition, Mr. Leonard holds the Chartered Financial Analyst designation from the CFA Institute.
Brian Sponheimer
Start Date
Tenure
Tenure Rank
Jan 28, 2022
0.34
0.3%
Mr. Brian C. Sponheimer, a Senior Vice President of GBL, serves as an associate portfolio manager of the Fund. Mr. Sponheimer joined Gabelli in 2008 as a research analyst covering automotive and trucking companies. Currently he is a Senior Vice President of GBL, a portfolio manager of Gabelli Funds, LLC, and a lead analyst on the firm’s Industrial Research team.
Macrae Sykes
Start Date
Tenure
Tenure Rank
Jan 28, 2022
0.34
0.3%
Mr. Macrae Sykes has served as a portfolio manager of the Financial Services Fund since its inception. Mr. Sykes joined Gabelli in 2008 as a research analyst. He currently covers the investment services industry, and is a member of the portfolio management team of another fund within the Gabelli Fund Complex. Mr. Sykes holds a B.A. in economics from Hamilton College and an M.B.A. in finance from Columbia Business School.
Hendi Susanto
Start Date
Tenure
Tenure Rank
Jan 28, 2022
0.34
0.3%
Mr. Hendi Susanto, Vice President of Associated Capital Group Inc., is an associate portfolio manager for the Global Mini Mites Fund. Mr. Susanto joined Gabelli in 2007 as a research analyst. He currently covers the global technology industry. Mr. Susanto received a BS degree summa cum laude from the University of Minnesota, a MS from M.I.T., and an MBA from the Wharton School of Business
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.59 | 8.28 | 10.92 |