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Jacob Small Cap Growth Fund

Fund Overview

Ticker:
JSCGX
Fact Sheet:
Investment Category:

Small Growth

Objective:

Long-term growth of capital.

Investment Minimums:

Initial minimum investment of $2500. For IRA, UGMA, 401(k), other retirement accounts, and accounts establishing an Automatic Investment Plan, the minimum investment is $1000.

Investment Strategy:

The Jacob Small Cap Growth Fund seeks to provide its investors with above average total returns from a broad group of small capitalization companies that are early in their development and that the Fund believes have significant growth potential. To achieve this goal, the Fund looks to own companies with, in their opinion, sustainable competitive advantages that may allow them to generate above average returns on capital over long periods of time. Furthermore, it strives to acquire the shares of these companies at reasonable prices. It is the Fund’s goal that the financial rewards to the shareholder should reflect the company’s strong economic performance.

Daily NAV

08/19/2019
Ticker
JAMFX
JSCGX
JSIGX
JMCGX
JMIGX
NAV
$5.17
$24.03
$24.47
$17.66
$19.31
$ Change
0.05
0.2
0.2
0.06
0.07
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The portfolio managers follow a three-step process to identify and monitor the Fund's investments:

Find

The first step in our investment process is to narrow down the seemingly infinite universe of possibilities and to focus on what we feel are the most attractive opportunities. Accomplishing this step is no easy task. It requires countless hours of research - scouring the Web, reading analyst reports, running quantitative screens, attending conferences, speaking to executives - all in an attempt to find those relatively rare nuggets worth looking into more closely. Sometimes those nuggets are individual companies, and sometimes they are broader themes that can open up a wide range of potential investments.

Filter

Once we find an intriguing investment idea, we then deploy a thorough qualitative and quantitative review process to determine if the opportunity is as attractive as it appears and can be had at a fair price. Very few of our ideas that we uncover end up being part of our concentrated portfolios.

Ideally, we are looking for companies that operate in large markets in which there are significant barriers to entry, enjoy what we believe is a strong competitive position with growing market share, and boast capable management teams with proven track records. We want the companies to have unique assets - such as proprietary technologies or unusually loyal customers - with the possibility that positive near-term catalysts could drive the value of our investment higher.

If everything looks good qualitatively, we turn our focus to valuation. We evaluate many different quantitative criteria including cash flows, income statement and balance sheet items. We determine what a company is likely to generate in sales and profits for the coming years and then, using several different metrics, calculate a fair valuation based on those estimates.

Of course, we also consider the biggest risks to each company's outlook and gauge the likelihood that these potential pitfalls could derail the investment thesis.

Follow-Up

Once we add an investment to one of our portfolios, we continue to monitor the position closely, making sure that our original analysis remains valid. We will often rebalance or potentially exit a position if the risk/reward ratio for the investment changes materially. We also conduct detailed portfolio reviews on a regular basis.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Total Returns as of Month-End (07/31/2019 ) Total Returns as of Quarter-End (06/30/2019 ) Total Returns as of (06/30/2019 )
Month Quarter 1 Year 3 Years 5 Years Since Inception*
Jacob Small Cap Growth Fund -3.93% 1.00% 7.87% 21.88% 6.48% 10.27%
Russell 2000 Growth Index 0.98% 2.75% -0.49% 14.69% 8.63% 13.49%

*Inception Date: 2/1/2010
Performance shown is for Investor Class
Expense Ratio: Gross 2.71% Net 2.25%**

Performance data quoted represents past performance; past performance 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 888-522-6939.

The fund imposes a 2.00% redemption fee on shares held less than 30 days. Performance data does not reflect the redemption fee. If reflected, returns would be lower. The fund imposes neither a maximum sales charge on purchases nor a maximum deferred sales charge.

**The advisor has contractually agreed to waive fees through January 2, 2020.

Investment performance reflects fee waivers. In the absence of these waivers returns would be reduced.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the total amount of money being transferred into and out of a business, especially as affecting liquidity.

The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values. You cannot invest directly in an index.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Fund Holdings as of June 30, 2019

Company Name Symbol $ Market Value % of Net Assets
Alphatec Holdings ATEC 1,589,908.00 8.96
Codexis Inc CDXS 996,067.78 5.61
Harrow Health Inc HROW 930,900.00 5.25
Rafael Hldgs Inc RFL 862,500.00 4.86
Carrizo Oil & Gas Inc CRZO 844,686.00 4.76
Yext Inc YEXT 843,780.00 4.76
YY Inc YY 696,900.00 3.93
Caredx Inc CDNA 689,820.33 3.89
Yelp Inc YELP 683,600.00 3.85
USA Technologies Inc USAT 638,980.00 3.60
Sina Corp SINA 634,011.00 3.57
Esperion Therapeutics Inc New Com ESPR 559,821.68 3.15
Ring Energy Inc REI 514,800.00 2.90
Mitek Sys Inc MITK 511,910.00 2.88
Immersion Corp IMMR 496,042.63 2.80
Rosehill Res Inc ROSE 475,253.90 2.68
American Eagle Outfitters New Com AEO 439,400.00 2.48
Tabula Rasa Healthcare Inc TRHC 409,426.00 2.31
BJS Restaurants BJRI 386,672.00 2.18
Ceva Inc CEVA 365,250.00 2.06
First Internet Bancorp INBK 324,715.50 1.83
Mongodb Inc MDB 319,389.00 1.80
Urban Outfitters Inc TDOC 318,500.00 1.79
Aerie Pharmaceuticals Inc AERI 295,500.00 1.67
First Northwest Bancorp FNWB 270,887.50 1.53
Cloudera Inc CLDR 256,051.54 1.44
Intersect Ent Inc XENT 254,912.00 1.44
Energy Recovery Inc ERII 230,532.08 1.30
Impinj Inc PI 194,616.00 1.10
RTW Retailwinds Inc RTW 192,100.00 1.08
Instructure Inc INST 182,750.00 1.03
Chemocentryx Inc CCXI 181,350.00 1.02
Teladoc Health Inc TDOC 179,307.00 1.01
Nexa Res S A NEXA 178,374.00 1.01
Paylocity Hldg Corp PCTY 150,112.00 0.85
Lithium Amers Corp New LAC 138,105.00 0.78
Orocobre Ltd ORE 112,860.00 0.64
Mastec Inc MTZ 82,448.00 0.46
Arch Coal Inc ARCH 75,368.00 0.42
Nemaska Lithium Inc NMKEF 21,162.08 0.18
Tearlab Warrants TEAR 0.00 0.00

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.

By clicking on the company names, you will be leaving the Jacob Funds website and will be entering a third-party website. Jacob Funds is not responsible for, nor can guarantee, the accuracy of any information contained on a third party site.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the total amount of money being transferred into and out of a business, especially as affecting liquidity.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Please refer to the linked fund fact sheet for a current breakdown of the fund's sector allocation.

Sectors as of August 31, 2017

Sector Name %
Common Stocks   95.7
Money Market Fund   3.6
Other Assets in Excess of Liabilities   0.7

 

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the total amount of money being transferred into and out of a business, especially as affecting liquidity.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

JACOB FUNDS




Please note that the Jacob Funds referred to in this website are offered and sold only to United States residents, and the information on this website is intended only for such people. The Fund is not offered for sale in countries other than the U.S. and it territories. This website should not be considered a solicitation to buy or an offer to sell shares of the Jacob Funds in any jurisdiction where it would be unlawful under the securities law of that jurisdiction.

Each fund's investment objectives, risks, charges, expenses and other information are described in the prospectuses, which must be read and considered carefully before investing. You may download the prospectus or obtain a hard copy by calling 888-522-6239.

Mutual fund investing involves risk. Principal loss is possible.

There are risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks. Small- and Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. The Internet Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in micro-capitalization companies may involve greater risks, as these companies ten to have limited product lines, markets and financial or managerial resources. Microcap stocks often also have a more limited trading market, such that the Adviser may not be able to sell stocks at an optimal time or price. In addition, less frequently-traded securities may be subject to more abrupt price movements than securities of larger capitalized companies. The Small Cap Growth Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility.

Jacob Funds are distributed by Quasar Distributors, LLC.