Profile and investment
| Fund type | Open Ended Investment Company |
|---|---|
| Investment style (stocks) | Market Cap: Small Investment Style: Blend |
| Morningstar category | Multistrategy |
| Launch date | 31 Mar 2010 |
| Price currency | USD |
| Domicile | United States |
| Symbol | SMSAX |
| Manager & start date | Mark Lee 17 Dec 2015 Radoslav Koitchev 31 Jan 2016 Andrew Kurita 03 May 2016 Donald Morgan 31 Jan 2017 Douglas Pardon 31 Dec 2017 Steven Hornstein 06 Jul 2020 |
| Pricing frequency | Daily |
|---|---|
| Total net assets | 239.20m USD As of Jan 31 2026 |
| Share class size | 233.28m USD As of Jan 31 2026 |
| Net expense ratio | 2.18% |
| Front end load | -- |
| Deferred load | -- |
| Maximum Redemption Fee | -- |
| Min. initial investment | 100,000.00 USD |
| Min. additional investment | 1,000.00 USD |
| Initial IRA | -- |
| Additional IRA | -- |
| Available for sale | United States |
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Top 5 holdings
| Top 5 holdings as a per cent of portfolio | |||
|---|---|---|---|
| 66.92% | 27.07% | 1.09% | 28.16% |
| Category average | % Net assets | % Short | % Long |
| Company | 1 year change | Portfolio weight | Short allocation | Long allocation |
|---|---|---|---|---|
| The Merger Fund® Class I MERIX | -1.27% | 19.76% | ||
| SEI Government Institutional (SDIT) | 0.00% | 5.72% | ||
| Aethon United Br Lp / Aethon United Finance Corporation 7.5% | -- | 1.40% | ||
| Boyd Gaming Corporation 4.75% | -- | 1.28% | ||
| iShares Russell 2000 ETF IWM:PCQ:USD | +16.28% | -1.09% | ||
| Per cent of portfolio in top 5 holdings: 27.07% |
Asset type
| Cash | 32.32% |
| US stock | 30.22% |
| US bond | 28.39% |
| Non-US stock | 4.59% |
| Non-US bond | 4.14% |
| Other | 0.35% |
Top 5 sectors
| Financial Services | 9.69% |
| Industrials | 8.23% |
| Basic Materials | 7.45% |
| Communication Services | 5.72% |
| Consumer Cyclical | 5.14% |
| Other | 10.71% |
Top 5 regions
| United States | 42.29% |
| Canada | 2.62% |
| United Kingdom | 1.28% |
| Eurozone | 0.94% |
| Africa | 0.21% |
| Other | 0.37% |
Sector and region weightings are calculated using only long position holdings of the portfolio.
