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Trending ETFs

Name

As of 06/14/2024

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

$13.59

$73.8 M

0.00%

1.81%

Vitals

YTD Return

-4.2%

1 yr return

-1.5%

3 Yr Avg Return

-6.3%

5 Yr Avg Return

6.5%

Net Assets

$73.8 M

Holdings in Top 10

43.8%

52 WEEK LOW AND HIGH

$13.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$13.59

$73.8 M

0.00%

1.81%

BCMIX - Profile

Distributions

  • YTD Total Return -4.2%
  • 3 Yr Annualized Total Return -6.3%
  • 5 Yr Annualized Total Return 6.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.66%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    The Brown Capital Management Mid Company Fund
  • Fund Family Name
    Brown Capital Management
  • Inception Date
    Dec 15, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eddie Brown

Fund Description

The Mid Company Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of equity securities of companies with total operating revenues of $500 million to $2.5 billion at the time of initial investment (“mid sized companies”). It is important to note that the Mid Company Fund does NOT choose its portfolio companies based on a reference to market capitalization. Rather, the focus of the Mid Company Fund is on the revenue produced by the issuer of the securities.

The Mid Company Fund typically invests in common stocks. The Advisor seeks to build a portfolio of exceptional mid companies with the wherewithal to become exceptional larger companies. The Mid Company Fund typically holds a portfolio of between 40 to 60 securities which the Advisor believes have the potential for growth.

The Advisor’s Philosophy

The Advisor believes that a sustained commitment to a portfolio of exceptional companies will, over time, generate attractive long-term returns. The Advisor believes exceptional companies save time, lives, money or headaches or provide an exceptional value proposition to consumers.  The Advisor views these differentiated organizations as having the wherewithal to provide unique solutions that include, but are not limited to, the utilization of innovative technology and insight to help address or redefine the challenges faced by institutions or consumers. These companies often retain a long-term growth plan, durable revenue growth, defensible market presence and profitability to fuel and sustain earnings per share growth. While investing in exceptional growth companies is paramount, the Advisor believes in being disciplined and deliberate about what it is willing to pay for growth opportunities and doing so in a benchmark agnostic manner (meaning that the Advisor selects companies without consideration of benchmarks by which the Fund is measured). Because the Mid Company Fund is managed in a benchmark agnostic manner, an unintended consequence is that the Fund may have sector exposure.

The Advisor’s Investment Approach

The Advisor believes an investment program establishes the processes necessary to identify, research and construct a portfolio. The Advisor distinguishes Mid Company from mid capitalization by its use of revenue not market capitalization to identify and invest in exceptional mid companies that have the wherewithal to become exceptional larger companies. The Advisor sources ideas from many places. Companies eligible for investment typically generate between $500 million and $2.5 billion in revenue at the time of initial investment. The Advisor’s investment professionals retain dual duties, managing the portfolio as a team and serving as generalists in their analytical role. They discuss prospective portfolio candidates with teammates before any in-depth research is performed to ensure the commitment of time dedicated to understanding the company makes sense to all team members.

The Advisor believes in-depth fundamental research, when applied over a three to five-year time horizon, and implemented with a benchmark agnostic framework, has the potential to generate attractive long-term returns.

Therefore, the foundation of the Advisor’s investment process is fundamental analysis. Valuation analysis is also part of the Advisor’s investment process.

The Advisor constructs the Mid Company Fund’s portfolio to generally be fully invested with no more than 5% in cash. The Advisor believes a diversified portfolio of 40 to 60 securities and their research efforts may, collectively, reduce portfolio risk.

The Advisor generally expects to hold securities for the long term. The Advisor typically sells securities from the Mid Company Fund’s portfolio when the investment thesis driving the purchase of the company changes, the Advisor has a better investment idea, and/or its valuation no longer meets expectations.

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BCMIX - Performance

Return Ranking - Trailing

Period BCMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.2% -16.7% 32.4% 94.70%
1 Yr -1.5% -6.7% 57.1% 98.48%
3 Yr -6.3%* -27.2% 57.3% 87.30%
5 Yr 6.5%* -2.9% 98.9% 81.12%
10 Yr -0.1%* -0.4% 24.8% 99.73%

* Annualized

Return Ranking - Calendar

Period BCMIX Return Category Return Low Category Return High Rank in Category (%)
2023 27.5% -27.7% 68.0% 9.70%
2022 -45.8% -85.6% 52.8% 93.50%
2021 11.3% -74.9% 238.3% 16.73%
2020 37.6% -44.1% 2474.5% 23.22%
2019 38.1% -50.2% 44.0% 4.62%

Total Return Ranking - Trailing

Period BCMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.2% -16.7% 32.4% 94.70%
1 Yr -1.5% -6.7% 57.1% 98.48%
3 Yr -6.3%* -27.2% 57.3% 87.30%
5 Yr 6.5%* -2.9% 98.9% 81.12%
10 Yr -0.1%* -0.4% 24.8% 99.73%

* Annualized

Total Return Ranking - Calendar

Period BCMIX Return Category Return Low Category Return High Rank in Category (%)
2023 27.5% -26.1% 68.0% 11.03%
2022 -37.0% -67.0% 56.8% 90.25%
2021 14.1% -23.5% 342.2% 41.93%
2020 41.2% 2.6% 2549.1% 36.46%
2019 44.6% 14.6% 44.8% 0.42%

NAV & Total Return History


BCMIX - Holdings

Concentration Analysis

BCMIX Category Low Category High BCMIX % Rank
Net Assets 73.8 M 2.73 M 100 B 90.91%
Number of Holdings 41 25 3620 86.36%
Net Assets in Top 10 33.3 M 449 K 9.69 B 85.98%
Weighting of Top 10 43.76% 4.2% 98.2% 17.61%

Top 10 Holdings

  1. Charles River Laboratories Int'l, Inc. 5.10%
  2. Corpay Inc. 4.88%
  3. Manhattan Associates, Inc. 4.78%
  4. HubSpot, Inc. 4.31%
  5. Align Technology, Inc. 4.21%
  6. Shopify, Inc. Class A 4.19%
  7. Autodesk, Inc. 4.17%
  8. Tyler Technologies, Inc. 4.10%
  9. Dexcom, Inc. 4.03%
  10. Veeva Systems, Inc. Class A 4.00%

Asset Allocation

Weighting Return Low Return High BCMIX % Rank
Stocks
99.78% 58.72% 101.30% 17.05%
Cash
0.22% 0.00% 38.96% 77.46%
Preferred Stocks
0.00% 0.00% 5.36% 57.58%
Other
0.00% 0.00% 14.15% 66.86%
Convertible Bonds
0.00% 0.00% 0.40% 50.95%
Bonds
0.00% -3.09% 3.50% 54.17%

Stock Sector Breakdown

Weighting Return Low Return High BCMIX % Rank
Technology
46.16% 0.04% 62.17% 3.22%
Healthcare
32.08% 0.00% 37.06% 1.14%
Consumer Cyclical
10.60% 0.00% 57.41% 78.03%
Industrials
7.74% 0.00% 38.23% 89.39%
Financial Services
3.43% 0.00% 43.01% 87.50%
Utilities
0.00% 0.00% 12.94% 63.26%
Real Estate
0.00% 0.00% 19.28% 90.34%
Energy
0.00% 0.00% 62.10% 81.44%
Communication Services
0.00% 0.00% 18.33% 93.18%
Consumer Defense
0.00% 0.00% 16.40% 92.23%
Basic Materials
0.00% 0.00% 17.25% 88.45%

Stock Geographic Breakdown

Weighting Return Low Return High BCMIX % Rank
US
99.78% 46.79% 101.30% 12.50%
Non US
0.00% 0.00% 34.57% 62.88%

BCMIX - Expenses

Operational Fees

BCMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.02% 17.54% 14.20%
Management Fee 0.75% 0.00% 1.50% 57.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

BCMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BCMIX 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.

BCMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 0.00% 250.31% 9.24%

BCMIX - Distributions

Dividend Yield Analysis

BCMIX Category Low Category High BCMIX % Rank
Dividend Yield 0.00% 0.00% 33.43% 60.42%

Dividend Distribution Analysis

BCMIX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

BCMIX Category Low Category High BCMIX % Rank
Net Income Ratio -0.66% -2.24% 2.75% 57.50%

Capital Gain Distribution Analysis

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

Distributions History

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BCMIX - Fund Manager Analysis

Managers

Eddie Brown


Start Date

Tenure

Tenure Rank

Sep 30, 2002

19.68

19.7%

Chairman, Chief Executive Officer, and Founder Eddie C. Brown started Brown Capital Management on July 1, 1983. He is chairman of the firm’s board of directors and a member of the firm’s Management Committee, the governing body of Brown Capital Management. Eddie boasts over 40 years of investment experience, serving as VP and portfolio manager at T. Rowe Price Associates, Inc. for 10 years before starting his own firm in 1983. He earned a BS in electrical engineering from Howard University, an MS in electrical engineering from New York University, and an MBA from Indiana University Kelley School of Business. He holds the professional designations of CFA and CIC.

Walton Pearson


Start Date

Tenure

Tenure Rank

Feb 28, 2005

17.26

17.3%

Managing Director and Senior Portfolio Manager Walton D. Pearson joined Brown Capital Management in 2005. He is a member of the Management Committee, which is the firm’s governing body. Prior to joining Brown Capital Management, Walt served as a managing director and senior portfolio manager at Putnam Investments and as an SVP and senior portfolio manager at Alliance Bernstein Capital Management. He holds an MBA in finance from the Harvard Graduate School of Business Administration and a BS in management from St. Francis College, where he graduated cum laude.

Kayode Aje


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Director and Senior Analyst Kayode O. Aje joined Brown Capital Management in April 2016. Previously, Kayode was a global equity research analyst at Chevy Chase Trust, a senior analyst/portfolio manager at Legg Mason Capital Management, and an account officer in JPMorgan Chase’s Private Banking Division. Kayode earned his MBA from the Yale School of Management where he was a Yale MBA Scholar. He graduated cum laude with a BS in finance from the University of Maryland, College Park and is a CFA charterholder.

Kwame Webb


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Director and Senior Analyst Kwame C. Webb joined Brown Capital Management in 2017. Previously, Kwame was a senior equity analyst at Morningstar, Inc. and an investment analyst and VP at T. Rowe Price Group, Inc. Kwame earned an MBA in finance from the Wharton School of the University of Pennsylvania as a Robert Toigo Fellow. He earned a BA in finance from the College of William & Mary, where he was a William & Mary scholar and graduated magna cum laude. Kwame is a CFA charterholder and a member of the Chicago CFA society.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.4 11.76