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Brandywine Fund

 

Fund Focus and Strategy

Friess Brandywine Fund is our most flexible fund. As an all-cap fund, the Fund’s portfolio can hold the most promising investment opportunities we uncover free from limitations based on company size. The Fund is designed to capture the full reach of our all-cap research effort, which leads us to explore each company’s “food chain” up and down the market-cap ladder. The portfolio typically holds a combination of large-, mid- and small-cap companies.

The Fund’s portfolio takes shape one company at a time without regard to the makeup of market indexes, making sector weightings a byproduct of our team’s search for individual-company earnings strength rather than predetermined targets. The Fund’s bottom-up approach to portfolio construction tends to result in a portfolio with lower correlation to market indexes. Friess Brandywine Fund aims to beat benchmarks, not mimic them.

The Fund capitalizes on the relationship between earnings performance and stock prices by holding companies experiencing above-average earnings growth that also show promise to exceed consensus earnings expectations. The Fund’s freedom to isolate companies of all sizes from any sector enables it to maintain the flexibility to migrate to emerging pockets of earnings strength as the environment evolves.

 

Where This Fund May Fit As Part Of Your Asset Allocation

The Fund may be appropriate for your overall investment allocation if you are:

Looking to gain exposure to stocks of all sizes
Seeking long-term growth of capital
Willing to accept short-term volatility of returns

 

 

Fund Facts (as of 10/15/2021)

Investment Style:

 

All Cap

 

Advisor:

Friess Associates, LLC

Benchmark(s):

Russell 3000® Growth Index; Russell 3000® Index

Fund Net Assets:

$6,834,654

Daily Pricing (as of 10/15/2021)

NAV:

$20.37

NAV $ Change:

$0.09

NAV % Change:

NA

 

YTD Return at NAV:

NA

Standardized performance will be available after 9/30/21. The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the 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. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses.

Share Class Facts

Share Class:Class I
Ticker:FBRWX
Inception Date:7/6/2021
Minimum Investment: Initial / Subsequent$2,000 / $100
12b-1 Fees:

Performance

Monthly Performance – Investor (as of 09/30/2021)

  Inception 1 Mo. 3 Mo. YTD 1 Year 3 Years 5 Years 10 Years Life of Fund
NAV 7/6/2021 [table “4” does not have that cell /]
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Quarterly Performance – Investor (as of 09/30/2021)

  Inception 1 Mo. 3 Mo. YTD 1 Year 3 Years 5 Years 10 Years Life of Fund
NAV 7/6/2021 [table “5” does not have that cell /]
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The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the 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. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns of the Fund are net of expenses, and the returns of the indices exclude expenses.

Expense Ratios – Investor

Gross Expense Ratio:

1.62%

NET Expense Ratio:

1.45%

Expense Cap Expiration Date:

4/30/2021

 

The Fund’s Adviser has contractually agreed, through at least April 30, 2021, to waive its management fees and/or pay Fund expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Fund’s prospectus for additional information on the Fund’s expenses.

Investor Calendar Year Returns

YearFundRussell 3000® Growth IndexRussell 3000® Index
202027.01%34.63%19.96%

Performance shown prior to May 31, 2017 is for Series B Units of the Friess Small Cap Trust (the “Predecessor Fund”), an unregistered Delaware Business Trust that commenced operations on August 6, 2002. The Predecessor Fund offered Series A and Series B Units. Performance is shown for Series B Units because Series B Units have been outstanding since inception of the Predecessor Fund. Returns for Series A Units, for the periods they were outstanding, would generally have been higher than returns for Series B Units. The Predecessor Fund was reorganized into the Fund by transferring all of the Predecessor Fund’s assets to the Fund in exchange for Institutional Class shares of the Fund on May 31, 2017, the date that the Fund commenced operations (the “Reorganization”). The Predecessor Fund has been managed in the same style as the Fund will utilize and by the same Investment Adviser and Sub-Adviser. The Fund’s investment objective, policies, guidelines and restrictions are, in all material respects the same as those of the Predecessor Fund. At the time of the Reorganization the Predecessor Fund’s investment portfolio was managed by the same portfolio manager and team of investment professionals who will manage the Fund’s investment portfolio.

The Predecessor Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the Investment Company Act of 1940, as amended (the “1940 Act”) or Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), which, if they had been applicable, might have adversely affected the Predecessor Fund’s performance. After the Reorganization, the Fund’s performance will be calculated using the standard formula set forth in rules promulgated by the SEC, which differs in certain respects from the methods used to compute total return for the Predecessor Fund.

Fund Analytics

Top 10 Holdings

Fund Holdings % Russell 3000® Growth Index %
1Hovnanian Enterprises Inc.3.09%2Intellia Therapeutics, Inc.0.67%
1Kirkland's Inc.2.98%2Arrowhead Pharmaceuticals, Inc.0.54%
1GrowGeneration Corp.2.96%2Lattice Semiconductor Corporation0.49%
1ACM Research Inc.2.71%2rocs, Inc.0.49%
1Bonanza Creek Energy Inc.2.66%2Scientific Games Corporation0.48%
1Calix Inc.2.52%2STAAR Surgical Company0.46%
1Kornit Digital Ltd.2.51%2Denali Therapeutics Inc.0.46%
1Crocs Inc.2.37%2II-VI Incorporated0.45%
1Magnite Inc.2.36%2Fate Therapeutics, Inc.0.45%
1Tecnoglass Inc.2.34%2Silicon Laboratories Inc.0.44%

Sectors or Industries listed are Global Industries Classifications Standard (GICS® industries, provided by FactSet).

Sector Allocation

As of 6/30/2021

Market Cap

As of 06/30/2021

 

Top Industries

As of 06/30/2021

 

 

Investors should carefully consider the Friess Brandywine Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call (855) 656-3017 or visit www.friessfunds.com. Read the Prospectus carefully before investing.

 

Risks

Mutual fund investing involves risk. Principal loss is possible. Please see the Funds’ prospectus for additional information.

See Disclosures for Index and Financial Term Definitions.

Friess Brandywine Fund is distributed by Foreside Fund Services, LLC

 

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