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Trending ETFs

13D Activist Fund

mutual fund
DDDAX
Payout Change
Suspended
Price as of:
$20.79 -0.16 -0.76%
primary theme
U.S. Mid-Cap Blend Equity
DDDAX (Mutual Fund)

13D Activist Fund

Payout Change
Suspended
Price as of:
$20.79 -0.16 -0.76%
primary theme
U.S. Mid-Cap Blend Equity
DDDAX (Mutual Fund)

13D Activist Fund

Payout Change
Suspended
Price as of:
$20.79 -0.16 -0.76%
primary theme
U.S. Mid-Cap Blend Equity

Name

As of 10/03/2024

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

13D Activist Fund

DDDAX | Fund

$20.79

$167 M

0.00%

1.76%

Vitals

YTD Return

-0.9%

1 yr return

17.6%

3 Yr Avg Return

-3.1%

5 Yr Avg Return

7.7%

Net Assets

$167 M

Holdings in Top 10

57.2%

52 WEEK LOW AND HIGH

$21.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.76%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 60.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/03/2024

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

13D Activist Fund

DDDAX | Fund

$20.79

$167 M

0.00%

1.76%

DDDAX - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return -3.1%
  • 5 Yr Annualized Total Return 7.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.89%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    13D Activist Fund
  • Fund Family Name
    Navigator Funds
  • Inception Date
    Dec 28, 2011
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ken Squire

Fund Description

13D Management LLC (the “Adviser”), seeks to achieve the Fund’s investment objective by investing primarily in common stocks of U.S. companies of any market capitalization that are the target of shareholder activism. The Adviser defines an activist as an investor who holds or takes a long position in a company’s shares and either (A) has a history of activist investing and/or (B) has publicly disclosed a catalyst for change such as seeking board seats, improving operations and/or corporate governance practices, spinning-off an operating division or selling a significant amount of company assets (such an investor being referred to herein as an “activist”). The Adviser reviews all material activist situations and makes investment decisions based on its knowledge of the activist investor involved, the industry, the shareholder base, the activist’s average cost, its strategy and the Adviser’s determination of the chance of success and potential impact on share price.

Environmental, social and governance (“ESG”) is a central part of the Fund’s investment process. The Adviser only selects situations where the shareholder will be improving or participating in corporate governance or otherwise influencing management. Accordingly, approximately 75% of the Fund’s portfolio positions has historically had a shareholder representative on the board of directors who advocates for best-in-class corporate governance

practices and a shareholder focused mentality. The Adviser does not only select companies with good corporate governance, because it believes there is more of a social and economic benefit in identifying poor corporate governance companies and supporting a transition to good corporate governance. Implementing best corporate governance practices can range from completely changing corporate culture to replacing entrenched, conflicted and self-dealing management teams. It is the Adviser’s experience that it is the governance element that also leads to environmental and social improvements in the business practices of the Fund’s portfolio companies. Every portfolio position contains an engaged investor and most contain a shareholder representative on the board of directors. We believe these individuals are in a unique position to not only create economic value but also drive positive ESG improvement. We refer to this as Active ESG (“AESG”)1 investing.

The Adviser uses the following selection guidelines to create and manage the Fund’s investment portfolio:

Selecting Investment Universe:

Identify companies where an activist investor is involved.

Weighting Investments

Different weights will be given to each investment depending on the (i) type of activist intent stated, (ii) the activist involved, (iii) the industry involved, and (iv) the Adviser’s determination as to the chance of activist success.

Exiting Investments:

Exiting an investment is an integral part of the investment strategy. The Adviser will exit a position when the activist indicates that it is exiting the investment, the activist becomes a passive investor, or in the Adviser’s opinion, the activist catalyst has changed or weakened.

While these guidelines will define the trading horizon, this horizon may change based on other events. For example, an early exit may be warranted after the activist has attained most of its goals, there has been a sufficient return on the investment, and there are other activist opportunities that the Adviser believes offer a better return. The Fund is non-diversified, which means that it may invest in fewer issuers than a diversified fund. The Adviser may engage in frequent buying and selling of securities in managing the Fund’s portfolio.


1 Active ESG (or AESG) investors are investors who actively engage with portfolio companies to induce change to better the environment, social aspects and/or governance. It is our experience that the way to truly create real ESG change is to invest with the ESG investors who have someone in the boardroom.
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DDDAX - Performance

Return Ranking - Trailing

Period DDDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -7.7% 31.5% 99.44%
1 Yr 17.6% -1.1% 48.7% 96.92%
3 Yr -3.1%* -17.9% 23.6% 99.43%
5 Yr 7.7%* 0.3% 25.2% 91.77%
10 Yr 7.0%* 3.2% 13.1% 82.63%

* Annualized

Return Ranking - Calendar

Period DDDAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -12.9% 28.8% 88.45%
2022 -24.9% -52.6% 20.1% 82.10%
2021 8.7% -43.8% 32.4% 64.35%
2020 10.9% -10.6% 82.1% 34.53%
2019 22.4% -8.5% 37.5% 56.37%

Total Return Ranking - Trailing

Period DDDAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -7.7% 31.5% 99.44%
1 Yr 17.6% -1.1% 48.7% 96.92%
3 Yr -3.1%* -17.9% 23.6% 99.43%
5 Yr 7.7%* 0.3% 25.2% 91.77%
10 Yr 7.0%* 3.2% 13.1% 82.63%

* Annualized

Total Return Ranking - Calendar

Period DDDAX Return Category Return Low Category Return High Rank in Category (%)
2023 10.6% 1.2% 31.3% 91.27%
2022 -17.7% -45.7% 21.1% 76.14%
2021 19.3% -30.2% 52.8% 85.22%
2020 18.7% -8.4% 84.3% 18.62%
2019 26.8% 1.0% 43.4% 53.18%

NAV & Total Return History


DDDAX - Holdings

Concentration Analysis

DDDAX Category Low Category High DDDAX % Rank
Net Assets 167 M 728 K 168 B 71.99%
Number of Holdings 27 1 2714 95.24%
Net Assets in Top 10 79.4 M 399 K 13.2 B 52.66%
Weighting of Top 10 57.17% 0.5% 100.0% 3.93%

Top 10 Holdings

  1. INSIGHT ENTERPRI 7.44%
  2. FRONTIER COMMUNI 7.34%
  3. SOUTHWEST GAS HO 6.52%
  4. EXELIXIS INC 5.70%
  5. TWILIO INC - A 5.54%
  6. MDU RES GROUP 5.38%
  7. ETSY INC 4.89%
  8. ASBURY AUTO GRP 4.85%
  9. VESTIS CORP 4.76%
  10. AZENTA INC 4.74%

Asset Allocation

Weighting Return Low Return High DDDAX % Rank
Stocks
96.46% 0.86% 100.69% 85.15%
Cash
3.54% 0.00% 99.07% 21.57%
Preferred Stocks
0.00% 0.00% 11.46% 97.48%
Other
0.00% -0.01% 51.08% 93.28%
Convertible Bonds
0.00% 0.00% 1.78% 97.76%
Bonds
0.00% 0.00% 72.71% 97.76%

Stock Sector Breakdown

Weighting Return Low Return High DDDAX % Rank
Healthcare
18.19% 0.00% 24.06% 4.78%
Technology
16.01% 0.00% 40.65% 46.63%
Industrials
14.53% 0.00% 45.89% 65.73%
Consumer Defense
13.40% 0.00% 32.18% 2.81%
Consumer Cyclical
12.83% 2.49% 46.48% 52.81%
Financial Services
8.97% 0.00% 46.10% 94.38%
Basic Materials
8.72% 0.00% 16.35% 6.46%
Real Estate
4.46% 0.00% 25.82% 74.72%
Communication Services
2.88% 0.00% 30.98% 42.70%
Utilities
0.00% 0.00% 18.97% 99.44%
Energy
0.00% 0.00% 58.13% 99.72%

Stock Geographic Breakdown

Weighting Return Low Return High DDDAX % Rank
US
96.46% 0.86% 100.69% 76.75%
Non US
0.00% 0.00% 10.11% 97.48%

DDDAX - Expenses

Operational Fees

DDDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.03% 19.40% 13.24%
Management Fee 1.50% 0.00% 1.50% 99.72%
12b-1 Fee 0.25% 0.00% 1.00% 65.48%
Administrative Fee N/A 0.01% 0.30% 66.02%

Sales Fees

DDDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.50% 5.75% 57.14%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DDDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 25.41%

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.

DDDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 60.00% 0.00% 304.00% 68.87%

DDDAX - Distributions

Dividend Yield Analysis

DDDAX Category Low Category High DDDAX % Rank
Dividend Yield 0.00% 0.00% 29.78% 99.16%

Dividend Distribution Analysis

DDDAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly SemiAnnual

Net Income Ratio Analysis

DDDAX Category Low Category High DDDAX % Rank
Net Income Ratio -0.89% -2.06% 3.38% 96.62%

Capital Gain Distribution Analysis

DDDAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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DDDAX - Fund Manager Analysis

Managers

Ken Squire


Start Date

Tenure

Tenure Rank

Dec 28, 2011

10.43

10.4%

Ken Squire, Managing Director of 13D Management LLC, founded 13D Management in 2010. Mr. Squire is also the founder and principal of 13D Monitor/Activist Database.com, a research firm specializing in reporting to subscribers on 13D filings and shareholder activism. Prior to founding 13D Monitor/Activist Database.com in 2006, Mr. Squire was a private equity investor as a principal of LSC Investors and Crown Capital Group, where he worked on various investments in public and private companies, starting in 1997. Previously, Mr. Squire was an associate in the Corporate and Securities Department at Weil, Gotshal & Manges, LLP in their New York law office from 1992 to 1997. Mr. Squire holds a B.S. with a concentration in finance from New York University's Stern School and a J.D. from New York University School of Law where he was an editor of Law Review.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 38.44 7.29 5.78