Vulcan Value Partners Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
12.9%
1 yr return
43.0%
3 Yr Avg Return
3.5%
5 Yr Avg Return
11.0%
Net Assets
$763 M
Holdings in Top 10
47.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.08%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 67.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
VVPLX - Profile
Distributions
- YTD Total Return 12.9%
- 3 Yr Annualized Total Return 3.5%
- 5 Yr Annualized Total Return 11.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.57%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameVulcan Value Partners Fund
-
Fund Family NameALPS Advised Funds
-
Inception DateDec 30, 2009
-
Shares Outstanding19298417
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerC.T. Fitzpatrick
Fund Description
The Vulcan Value Partners Fund seeks to achieve long-term capital appreciation by investing primarily in publicly traded small-cap and large-cap companies the Fund believes to be both undervalued and possessing a sustainable competitive advantage. The Fund generally regards small-cap companies to be those less than $5 billion in market capitalization and large-cap companies to be those greater than $5 billion in market capitalization. The Adviser expects that these ranges will change over time.
The Fund views equity investments as ownership in a business enterprise and approaches investing as long-term partial ownership of businesses. The Fund seeks to purchase
publicly traded companies at significant discounts to intrinsic worth. The Fund seeks to invest for the long term, limiting the selection of qualifying investments to good businesses with identifiable, sustainable competitive advantages to maximize returns and to minimize risk. The Fund generally defines risk as the probability of permanently losing capital over a five-year period. The Fund generally sells stocks when they approach their appraised value. The Fund seeks to determine business or intrinsic value through disciplined financial analysis. The Fund believes that equities purchased at prices substantially less than their intrinsic worth generally afford capital protection from significant permanent loss and also create the possibility of substantial appreciation if the market recognizes the company’s economic value.
This portfolio strategy invests in companies with larger market capitalizations. Generally, subject to price, any publicly traded company with reasonable economics would be a potential investment in this portfolio. A core position in the Fund is generally approximately 5% of the Fund’s portfolio, so that theoretically the Fund would seek to hold about 20 companies, spread across various industries. Because it is rare that the Fund would find exactly 20 companies meeting its investment guidelines, allocations will vary with the price to value ratio of specific companies. The Fund may invest in positions as small as 1% when price to value ratios are higher. The Fund generally will not invest in any business that is trading above the Fund’s estimate of its fair value. Most of these securities are listed on the major securities exchanges. The Fund may invest up to 30% of net assets in publicly traded foreign securities, which may consist in whole or in part of securities of issuers in emerging markets. The Fund may hold up to 15% of net assets in illiquid securities. If investments meeting the Fund’s criteria are not available, the Fund may invest the Fund’s assets temporarily in obligations of the U.S. government and its agencies, or in other money market instruments. The Fund is non-diversified, which means that it may take a more focused approach to investing.
VVPLX - Performance
Return Ranking - Trailing
Period | VVPLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.9% | -9.6% | 28.7% | 42.70% |
1 Yr | 43.0% | -11.6% | 75.4% | 50.99% |
3 Yr | 3.5%* | -26.6% | 33.9% | 88.50% |
5 Yr | 11.0%* | -14.4% | 30.8% | 91.56% |
10 Yr | 6.9%* | -5.3% | 19.1% | 97.88% |
* Annualized
Return Ranking - Calendar
Period | VVPLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 39.7% | -74.1% | 72.4% | 28.35% |
2022 | -41.5% | -85.9% | 4.7% | 84.35% |
2021 | 9.5% | -52.4% | 60.5% | 45.89% |
2020 | 7.8% | -34.3% | 145.0% | 97.07% |
2019 | 38.1% | -21.8% | 49.4% | 1.44% |
Total Return Ranking - Trailing
Period | VVPLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.9% | -9.6% | 28.7% | 42.70% |
1 Yr | 43.0% | -11.6% | 75.4% | 50.99% |
3 Yr | 3.5%* | -26.6% | 33.9% | 88.50% |
5 Yr | 11.0%* | -14.4% | 30.8% | 91.56% |
10 Yr | 6.9%* | -5.3% | 19.1% | 97.88% |
* Annualized
Total Return Ranking - Calendar
Period | VVPLX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 39.7% | -4.6% | 72.4% | 41.84% |
2022 | -38.1% | -61.7% | 5.6% | 85.75% |
2021 | 21.5% | -39.8% | 118.1% | 54.64% |
2020 | 11.6% | 2.8% | 149.2% | 99.27% |
2019 | 44.5% | -5.2% | 49.4% | 0.87% |
NAV & Total Return History
VVPLX - Holdings
Concentration Analysis
VVPLX | Category Low | Category High | VVPLX % Rank | |
---|---|---|---|---|
Net Assets | 763 M | 242 K | 222 B | 58.66% |
Number of Holdings | 32 | 1 | 3217 | 88.45% |
Net Assets in Top 10 | 354 M | 104 K | 111 B | 59.53% |
Weighting of Top 10 | 47.17% | 0.7% | 205.0% | 65.60% |
Top 10 Holdings
- TransDigm Group, Inc. 5.52%
- KKR Co., Inc. 5.23%
- Amazon.com, Inc. 5.11%
- Carlyle Group, Inc. 5.00%
- Salesforce, Inc. 4.79%
- Jones Lang LaSalle, Inc. 4.76%
- Alphabet, Inc. 4.32%
- Microsoft Corp. 4.18%
- Elevance Health, Inc. 4.16%
- Ares Management Corp. 4.08%
Asset Allocation
Weighting | Return Low | Return High | VVPLX % Rank | |
---|---|---|---|---|
Stocks | 97.96% | 0.00% | 130.05% | 65.68% |
Cash | 2.04% | -1.50% | 173.52% | 32.88% |
Preferred Stocks | 0.00% | 0.00% | 7.84% | 94.44% |
Other | 0.00% | -43.49% | 59.52% | 88.20% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 92.23% |
Bonds | 0.00% | 0.00% | 104.15% | 93.42% |
Stock Sector Breakdown
Weighting | Return Low | Return High | VVPLX % Rank | |
---|---|---|---|---|
Technology | 39.80% | 0.00% | 65.70% | 30.49% |
Financial Services | 25.13% | 0.00% | 43.06% | 2.28% |
Industrials | 11.65% | 0.00% | 30.65% | 9.21% |
Consumer Cyclical | 10.78% | 0.00% | 62.57% | 81.93% |
Communication Services | 8.50% | 0.00% | 66.40% | 71.20% |
Real Estate | 4.14% | 0.00% | 16.05% | 8.11% |
Utilities | 0.00% | 0.00% | 16.07% | 96.45% |
Healthcare | 0.00% | 0.00% | 39.76% | 99.75% |
Energy | 0.00% | 0.00% | 41.09% | 97.80% |
Consumer Defense | 0.00% | 0.00% | 25.50% | 99.49% |
Basic Materials | 0.00% | 0.00% | 18.91% | 98.82% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | VVPLX % Rank | |
---|---|---|---|---|
US | 93.56% | 0.00% | 130.05% | 83.98% |
Non US | 4.40% | 0.00% | 78.10% | 11.97% |
VVPLX - Expenses
Operational Fees
VVPLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.08% | 0.01% | 19.54% | 40.66% |
Management Fee | 1.00% | 0.00% | 1.50% | 98.48% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 1.02% | 22.26% |
Sales Fees
VVPLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
VVPLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 45.33% |
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.
VVPLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 67.00% | 0.00% | 316.74% | 77.67% |
VVPLX - Distributions
Dividend Yield Analysis
VVPLX | Category Low | Category High | VVPLX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 28.41% | 41.55% |
Dividend Distribution Analysis
VVPLX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | SemiAnnual | Annual |
Net Income Ratio Analysis
VVPLX | Category Low | Category High | VVPLX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.57% | -6.13% | 3.48% | 69.46% |
Capital Gain Distribution Analysis
VVPLX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 07, 2023 | $0.011 | OrdinaryDividend |
Dec 08, 2022 | $0.989 | OrdinaryDividend |
Dec 20, 2019 | $0.003 | OrdinaryDividend |
Dec 09, 2019 | $1.072 | OrdinaryDividend |
Dec 21, 2018 | $0.088 | OrdinaryDividend |
Dec 21, 2017 | $0.119 | OrdinaryDividend |
Dec 21, 2016 | $0.233 | OrdinaryDividend |
Dec 02, 2013 | $0.080 | OrdinaryDividend |
Dec 21, 2012 | $0.011 | OrdinaryDividend |
Dec 22, 2011 | $0.005 | OrdinaryDividend |
VVPLX - Fund Manager Analysis
Managers
C.T. Fitzpatrick
Start Date
Tenure
Tenure Rank
Dec 30, 2009
12.42
12.4%
Mr. Fitzpatrick, as the Chief Investment Officer of Vulcan and the portfolio manager for each Fund, leads Vulcan’s research team, which is responsible for stock selection. As the Funds’ sole portfolio manager, Mr. Fitzpatrick has discretion over each Fund’s assets and exercises final investment decision-making for each Fund. In addition, Mr. Fitzpatrick oversees the structuring of portfolios for consistency with each Fund’s guidelines and regulatory requirements. Mr. Fitzpatrick is the Founder of Vulcan and has been the Chief Executive Officer and Chief Investment Officer of Vulcan since 2007. Prior to founding Vulcan in 2007, Mr. Fitzpatrick was a principal and portfolio manager at Southeastern Asset Management from 1990 to 2007.
McGavock Dunbar
Start Date
Tenure
Tenure Rank
May 14, 2020
2.05
2.1%
McGavock Dunbar, CFA. Mr. Dunbar, as the Director of Research and a portfolio manager for the Funds, assists Mr. Fitzpatrick in managing Vulcan’s research team, which is responsible for stock selection. As an additional portfolio manager for the Funds, Mr. Dunbar can exercise discretion over each Fund’s assets and works with Mr. Fitzpatrick to assist in final investment decision-making for each Fund. In addition, Mr. Dunbar assists in the structuring of portfolios for consistency with each Fund’s guidelines and regulatory requirements. Mr. Dunbar is a Principal of Vulcan and has been an Analyst at Vulcan since 2010. Prior to founding Vulcan in 2010, Mr. Dunbar was an Associate in the investment banking department at Susquehanna International Group.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.21 | 3.08 |