Manager’s Commentary – Second Quarter 2021 Review July 19, 2021
We are pleased to report that the returns for all four of the Hodges Mutual Funds exceed their respective benchmarks.
Why invest in the Hodges Fund?
- Core equity fund that invests in publicly traded companies ranging from large,
blue chip companies to undiscovered small cap companies. - Combines multiple investment themes and gives the manager the flexibility to invest where they see value regardless of company size.
as of 06/30/21
At A Glance
- Ticker HDPMX
- Total Net Assets $247.49 Million
- CUSIP 742935109
- Investment Approach Bottom Up, Fundamental
- Typical Cash Position < 10%
- Number of Holdings 51
- Minimum Investment $1,000
Risk Profile
LOW HIGHPerformance
| Returns (%) as of 6/30/2021 | QTD | 1 YR | 3 YR | 5 YR | 10 YR | SI |
|---|---|---|---|---|---|---|
| Hodges Fund | 9.11 | 99.24 | 12.01 | 14.72 | 12.34 | 10.50 |
| S&P 500® | 8.55 | 40.79 | 18.67 | 17.65 | 14.84 | 10.77 |
| Returns for greater than one year are annualized | Gross Expense Ratio | 1.34 | ||||
| Net Expense Ratio | 1.151 | |||||
Calendar Year
| Returns (%) as of 3/31/2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|
| Hodges Fund | 29.58 | 23.02 | -34.18 | 13.83 | 39.78 | -11.48 | 7.30 |
| S&P 500® | 18.40 | 31.49 | -4.38 | 21.83 | 11.96 | 1.38 | 13.69 |
1 The Advisor has contractually agreed to reduce its fees at least until August 31, 2021.
The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years from the date the fees were waived and/or expenses were paid.
Please see prospectus for details
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month-end may be obtained by calling (866) 811 0224, or visiting www.hodgesfunds.com for quarterly performance. The fun imposes a 1.00% redemption fee on retail class shares held less than 30 days. Performance data does not reflect the redemption fee. If reflected, total return would be reduced. Performance reflected is net of all other fees and expenses.
Holdings
as of 6/30/2021 Top Ten Holdings
| Security | Ticker |
| TEXAS PACIFIC LAND CORP | TPL |
| MODERNA | MRNA |
| LUBY'S INC | LUB |
| GENERAL MOTORS CO | GM |
| CRICUT INC | CRCT |
| MATADOR RESOURCES | MTDR |
| REVOLVE GROUP INC | RVLV |
| SCHWAB (CHARLES) CORP | SCHW |
| CLEVELAND-CLIFFS INC | CLF |
| AZEK CO INC/THE | AZEK |
| Total | 33.13% |
Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Portfolio Managers
|
Craig D. Hodges
|
|
Craig Hodges is co-founder and principal of the Dallas based money management firm Hodges Capital Management. Craig … Read Full Bio |
|
Eric J. Marshall, CFA
|
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Eric J. Marshall, CFA, currently serves as President, Co-Chief Investment Officer, and Director of Research for Hod … Read Full Bio |
Commentary & News
Manager’s Commentary – First Quarter 2021 Review April 12, 2021
What a difference a year can make!
The Pandemic Year’s Top Stock-Fund Managers The Wall Street Journal' Winner Circle / April 5, 2021
Best performers among actively managed, diversified stock funds for the past 12 months. (Not included: index, quant and sector funds, and ETFs in general.) The No. 4 finisher was Hodges Fund (HDPMX)…
Mutual fund investing involves risk. Principal loss is possible. The fund invests in smaller companies, which involves additional risks such as limited liquidity and greater volatility. The Fund invests in foreign securities which involves greater volatility and political, economic and currency risks and differences in accounting methods. The fund may also make short sales of securities, which involves the risk that losses may exceed the original amount invested.
Shareholders should refer to the summary prospectus dated July 29, 2020, as supplemented, September 8, 2020, for specific details related to the reduction of fees.
The Standard & Poor’s 500 is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ. It is not possible to invest directly in an index.