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Westwood Quality AllCap Fund
mutual fund
WQAIX
Payout Change
Pending
Price as of:
$12.38
+0.0
+0.0%
primary theme
U.S. Large-Cap Value Equity
share class
WQAIX (Mutual Fund)
Westwood Quality AllCap Fund
Payout Change
Pending
Price as of:
$12.38
+0.0
+0.0%
primary theme
U.S. Large-Cap Value Equity
share class
WQAIX (Mutual Fund)
Westwood Quality AllCap Fund
Payout Change
Pending
Price as of:
$12.38
+0.0
+0.0%
primary theme
U.S. Large-Cap Value Equity
share class
Name
As of 12/10/2024Price
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
Vitals
YTD Return
15.5%
1 yr return
19.0%
3 Yr Avg Return
7.6%
5 Yr Avg Return
N/A
Net Assets
$22.4 M
Holdings in Top 10
27.0%
52 WEEK LOW AND HIGH
$12.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.91%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
WQAIX - Profile
Distributions
- YTD Total Return 15.5%
- 3 Yr Annualized Total Return 7.6%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.22%
- Dividend Yield 1.4%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameWestwood Quality AllCap Fund
-
Fund Family NameWestwood
-
Inception DateSep 24, 2021
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGrant Taber
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in equity securities of companies which the Adviser believes are undervalued in relation to the broader market, employ superior business models compared to their competition, and possess strong balance sheets and free cash flow. Generally, the universe of securities from which the Adviser selects investments will encompass companies of all market capitalizations greater than $100 million at the time of purchase. The equity securities in which the Fund invests are primarily common stocks, public real estate investment trusts (“REITs”), and master limited partnerships (“MLPs”). The Fund’s investments in REITs include commercial property REITs and residential mortgage REITs. The Fund’s investments in MLPs will primarily be within the broad energy sector and include MLPs in transportation and shipping, storage, processing, refining, marketing, exploration, production, and mining.
Under normal conditions, the Fund invests in approximately 40-60 securities that are well-diversified among market sectors. The Adviser utilizes a value style of investing to select equity securities for the Fund that it believes are undervalued, generally maintain high-quality characteristics, and offer an attractive opportunity for price appreciation coupled with downside risk limitation. Value investing focuses on companies with stocks that appear undervalued in light of factors such as the company’s earnings, book values, revenues and cash flow. Key metrics for evaluating the risk/return profile of an investment may
include strong free cash flow, an improving return on equity, a strengthening balance sheet and, in the case of common equities, positive earnings surprises without a corresponding change in the stock price. As the Adviser constructs the Fund’s portfolio, it does not have set allocations for common stocks, REITs, or MLPs, nor does it focus on any particular industry or sector. Sector weights are a residual of bottom-up portfolio construction and are limited to 25% to any one sector on an absolute basis as a component of the inherent risk controls embedded in the process. As the Adviser evaluates each investment opportunity, it applies the same value investing criteria regardless of the security type and constructs the portfolio by selecting those securities with the most attractive value factors described above regardless of security type, sector, or industry. The Adviser has disciplines in place that serve as sell signals, such as a security reaching a predetermined price target or a change to a company’s fundamentals that negatively impacts the original investment thesis. The Adviser will not necessarily sell a security that has depreciated below the stated market capitalization defined above.
WQAIX - Performance
Return Ranking - Trailing
| Period | WQAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.5% | -12.3% | 50.7% | 72.28% |
| 1 Yr | 19.0% | -3.7% | 64.1% | 77.25% |
| 3 Yr | 7.6%* | -4.2% | 31.8% | 61.63% |
| 5 Yr | N/A* | 0.1% | 45.7% | N/A |
| 10 Yr | N/A* | 1.9% | 25.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | WQAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.8% | -16.9% | 46.1% | 50.23% |
| 2022 | -5.3% | -64.7% | 4.6% | 11.78% |
| 2021 | N/A | -44.2% | 57.5% | N/A |
| 2020 | N/A | -23.2% | 285.0% | N/A |
| 2019 | N/A | -21.4% | 48.5% | N/A |
Total Return Ranking - Trailing
| Period | WQAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 15.5% | -12.3% | 50.7% | 72.28% |
| 1 Yr | 19.0% | -3.7% | 64.1% | 77.25% |
| 3 Yr | 7.6%* | -4.2% | 31.8% | 61.63% |
| 5 Yr | N/A* | 0.1% | 45.7% | N/A |
| 10 Yr | N/A* | 1.9% | 25.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | WQAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.5% | -15.9% | 46.7% | 62.42% |
| 2022 | -3.8% | -42.0% | 8.5% | 32.48% |
| 2021 | N/A | 3.6% | 129.7% | N/A |
| 2020 | N/A | -22.6% | 304.8% | N/A |
| 2019 | N/A | -12.7% | 52.1% | N/A |
NAV & Total Return History
WQAIX - Holdings
Concentration Analysis
| WQAIX | Category Low | Category High | WQAIX % Rank | |
|---|---|---|---|---|
| Net Assets | 22.4 M | 126 K | 163 B | 96.73% |
| Number of Holdings | 51 | 2 | 1727 | 79.53% |
| Net Assets in Top 10 | 6.22 M | 466 K | 39.5 B | 96.45% |
| Weighting of Top 10 | 26.95% | 4.4% | 99.1% | 53.28% |
Top 10 Holdings
- JPMorgan Chase Company 3.09%
- Chevron Corporation 3.02%
- UnitedHealth Group, Inc. 2.97%
- Johnson Johnson 2.93%
- Bank of America Corporation 2.81%
- Microsoft Corporation 2.51%
- WEC Energy Group, Inc. 2.45%
- Abbott Laboratories 2.40%
- Americold Realty Trust, Inc. 2.39%
- Wells Fargo Company 2.38%
Asset Allocation
| Weighting | Return Low | Return High | WQAIX % Rank | |
|---|---|---|---|---|
| Stocks | 99.72% | 4.16% | 102.49% | 10.84% |
| Cash | 0.42% | 0.00% | 17.28% | 80.09% |
| Preferred Stocks | 0.00% | 0.00% | 13.68% | 94.77% |
| Other | 0.00% | -2.59% | 39.89% | 90.65% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 94.65% |
| Bonds | 0.00% | 0.00% | 97.99% | 94.86% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | WQAIX % Rank | |
|---|---|---|---|---|
| Financial Services | 19.44% | 0.00% | 58.05% | 49.91% |
| Healthcare | 18.73% | 0.00% | 30.08% | 35.00% |
| Technology | 10.55% | 0.00% | 54.02% | 48.58% |
| Industrials | 8.83% | 0.00% | 42.76% | 78.87% |
| Communication Services | 8.65% | 0.00% | 26.58% | 11.98% |
| Energy | 7.53% | 0.00% | 54.00% | 56.51% |
| Consumer Defense | 6.80% | 0.00% | 34.10% | 71.42% |
| Basic Materials | 6.27% | 0.00% | 21.69% | 10.00% |
| Utilities | 6.07% | 0.00% | 27.04% | 29.43% |
| Real Estate | 4.25% | 0.00% | 90.54% | 28.96% |
| Consumer Cyclical | 2.90% | 0.00% | 22.74% | 88.77% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | WQAIX % Rank | |
|---|---|---|---|---|
| US | 99.72% | 4.16% | 102.49% | 10.37% |
| Non US | 0.00% | 0.00% | 24.08% | 94.95% |
WQAIX - Expenses
Operational Fees
| WQAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.91% | 0.03% | 14.82% | 50.38% |
| Management Fee | 0.45% | 0.00% | 1.50% | 28.12% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.20% | 0.00% | 0.50% | 82.21% |
Sales Fees
| WQAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| WQAIX 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.
| WQAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 488.00% | 2.47% |
WQAIX - Distributions
Dividend Yield Analysis
| WQAIX | Category Low | Category High | WQAIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.36% | 0.00% | 16.67% | 41.35% |
Dividend Distribution Analysis
| WQAIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| WQAIX | Category Low | Category High | WQAIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.22% | -1.51% | 4.28% | 92.92% |
Capital Gain Distribution Analysis
| WQAIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.168 | OrdinaryDividend |
| Dec 12, 2023 | $0.079 | CapitalGainShortTerm |
| Dec 12, 2023 | $0.123 | CapitalGainLongTerm |
| Dec 29, 2022 | $0.169 | OrdinaryDividend |
| Dec 08, 2021 | $0.023 | CapitalGainShortTerm |
WQAIX - Fund Manager Analysis
Managers
Grant Taber
Start Date
Tenure
Tenure Rank
Sep 30, 2021
0.67
0.7%
Mr. Taber joined Westwood in 2008 and serves as a Senior Portfolio Manager and Analyst covering the Materials and Industrials sectors. He is a member of the Energy/Utilities and Technology/Industrials research groups. Mr. Taber began his career in New York at Bear Stearns, performing sell-side equity research. Subsequently, he moved to the buy-side as a Research Analyst with Bessemer Trust Company. Mr. Taber graduated from Texas Christian University with a BBA in Finance and Accounting, during which time he served in leadership of the William C. Conner Educational Investment Fund. Mr. Taber is a member of the CFA Institute and the CFA Society of Dallas-Fort Worth.
Michael Wall
Start Date
Tenure
Tenure Rank
Sep 30, 2021
0.67
0.7%
Mr. Wall joined Westwood in 2010, after McCarthy Group Advisors, LLC, which he joined in 2004, was acquired by Westwood. He is a Portfolio Manager on the LargeCap Value and AllCap Value portfolio teams and a Research Analyst specializing in REITs, Engineering and Construction and Life Insurance. Mr. Wall is also a member of the Energy/Utilities and Financials research groups. Mr. Wall began his career at State Street Bank in Kansas City, Missouri, as a Portfolio Accountant and subsequently worked for The SilverStone Group in Omaha, Nebraska, as an Account Manager. Mr. Wall earned an MBA from the University of Nebraska at Omaha and a BS in Accounting from Concordia University.
William Sheehan
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Mr. Sheehan joined Westwood in 2018 and is currently a Vice President – Portfolio Manager & Research Analyst. He serves as a Portfolio Manager for Westwood’s LargeCap Value and AllCap Value strategies and specializes as an Analyst in the Technology, Media and Telecom sectors. Prior to joining Westwood, Mr. Sheehan was an Analyst at Surveyor Capital focused on the Technology sector. Prior to that, he held several roles investing across the Technology, Media and Telecom sectors. Mr. Sheehan earned a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania. He is a CFA charterholder.
Lauren Hill
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Ms. Hill joined Westwood in 2015 and is a Portfolio Manager on the LargeCap Value and AllCap Value portfolio teams and a Research Analyst specializing in the Consumer Discretionary and Industrials sectors. She is a member of the Consumer/Health Care and Technology/Industrials research groups. Before joining Westwood, Ms. Hill spent 11 years working in equity research in New York. She served as a Generalist at Northern Border Investments and Cantillon Capital and as a Financials and Utilities Analyst at J.P. Morgan Asset Management. Prior to that, she worked as an Associate on the sell-side at Sanford Bernstein with the No. 1-ranked Consumer Finance Analyst. Ms. Hill earned her MBA with Honors from Columbia Business School where she participated in the Value Investing Program. She earned her BBA in Finance and Accounting with Honors from Southern Methodist University. Ms. Hill is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.12 | 6.71 |
