CMOVX — CM Advisors Small Cap Value Fund

CMOVX Fund Overview

CMOVX — CM Advisors Small Cap Value Fund is a US mutual fund managed by CM Advisors Family Of Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: CM Advisors Family Of Funds
• Category: Money Market
• Assets under management: $46.63M
• Ticker: CMOVX
• SEC CIK: 0001208252
• SEC series ID: S000030165
• Share class ID: C000092823

CMOVX Investment Objective and Strategy

CM Advisors Small Cap Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by CM Advisors Family Of Funds.

Investment objective

"The investment objective of the CM Advisors Small Cap Value Fund (the ""Small Cap Value Fund"") is long-term growth of capital."

Principal investment strategy

"To meet its investment objective, the Small Cap Value Fund invests primarily in equity securities of small capitalization companies (""small cap"") that the Advisor believes are undervalued. Under normal circumstances, at least 80% of the Small Cap Value Fund's net assets (including the amount of any borrowings for investment purposes) will be invested in small cap equity securities, which may include shares of other registered investment companies (""RICs""), such as exchange traded funds (""ETFs""), that invest primarily in small cap equity securities. Small Cap Value Fund shareholders will be provided with at least 60 days' prior notice of any change in the foregoing policy. In managing the Small Cap Value Fund, the Advisor seeks to provide a consistent positive return over the long-term.

The Advisor will focus on allocating the assets of the Small Cap Value Fund to those securities and sectors the Advisor believes are best suited to provide positive returns rather than focus on any particular individual security or sector weighting simply because a particular index is modeled a particular way. The Small Cap Value Fund considers a small cap company to be one that has a market capitalization, measured at the time the Fund purchases the securities, not exceeding the greater of (i) $2.5 billion or (ii) the capitalization of the largest company by market cap as reported by the Russell 2000 Value Index (as reported by the index as of the most recent quarter-end). The Russell 2000 Value Index is a broad index of small capitalization stocks. As of May 31, 2018 the capitalization of the largest company by market cap in the Russell 2000 Value Index was $8.7 billion.

The market capitalization of a company in the Small Cap Value Fund's portfolio may change over time, and the Fund will not automatically sell or cease to purchase stock of a company it already owns just because the company's market capitalization increases above this ceiling. The Small Cap Value Fund typically invests in common stocks, although it may also invest in other equity securities (e.g., preferred stocks, convertible bonds, convertible preferred stocks, warrants and other RICs). In addition, the Small Cap Value Fund retains the flexibility to invest up to 20% of its net assets in other equity securities (including stock of medium or large capitalization companies), fixed income securities (e.g., corporate bonds or U.S. Government securities) or cash or cash equivalents (e.g., money market funds, short-term U.S.

Government obligations, commercial paper, and repurchase agreements) when the Advisor believes they offer more attractive opportunities. The Small Cap Value Fund may purchase fixed income securities of any maturity or yield, provided that corporate debt obligations shall primarily be ""investment grade"" securities rated in one of the four highest rating categories by any nationally recognized statistical rating organization or, if not so rated, will be of equivalent quality in the opinion of the Advisor. The Small Cap Value Fund may also purchase fixed income securities in any sector and issued by any size company, municipality or government body. In selecting equity securities for the Small Cap Value Fund's portfolio, the Advisor: ? Applies research models to determine a company's intrinsic value.

Intrinsic value is a concept that refers to what a company is ""really"" worth. Investment advisors that use intrinsic value (like the Advisor) believe that a company's real value can be best determined by analyzing business, financial, and other factors about the company and its market, and that a company's market price gravitates toward its intrinsic value over time. Accordingly, if the market price of the company's securities is above the Advisor's determination of its intrinsic value, the Advisor believes that the market price will, over time, fall. If the market price is below its intrinsic value, then the Advisor believes it will, over time, rise; ? Compares the company's intrinsic value to the market prices of the company's securities; and ? Seeks to purchase equity securities of companies that appear to be ""bargains"" (i.e., securities that are trading at a significant discount to their intrinsic value).

In an effort to determine a company's intrinsic value, the Advisor's research models utilize various quantitative, qualitative, fundamental, and other factors about a company and its business. This information can include, without limitation, historical analysis, acquisition analysis, discounted free cash flow models and leveraged buyout models. The Advisor also monitors acquisition prices for companies in various industries, and may communicate with companies, their suppliers and customers as part of its research process. Because a company's business, financial, and market circumstances are always changing, the Advisor evaluates intrinsic value for companies in and out of its portfolio on a regular basis. The Small Cap Value Fund may invest in equity securities of companies in any sector and the securities may be traded on a national securities exchange or over-the-counter.

At times, the Small Cap Value Fund may hold a significant portion of its assets in cash or cash equivalent positions for extended periods of time while the Advisor waits for the securities markets to offer more attractive opportunities."

CMOVX Costs and Fees

CMOVX costs about $122 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.22%
• Gross expense ratio: 1.22%
• Portfolio turnover: 31%
• Brokerage commissions: 1.62 bps of average net assets (SEC N-CEN)

CMOVX Cashflows

Over the 12 months to 2020-05, CM Advisors Small Cap Value Fund had net outflows of $4.17M, from monthly SEC N-PORT filings.

CMOVX Debt Constituents

No individual debt constituents are reported in CM Advisors Small Cap Value Fund's latest SEC N-PORT filing.

CMOVX Prospectus and SEC Filings

Official CM Advisors Small Cap Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-07-11
• Prospectus (485BPOS) — filed 2018-07-18
• Prospectus supplement (497) — filed 2019-11-22
• Portfolio holdings (N-PORT) — filed 2020-07-31
• Annual census (N-CEN) — filed 2020-05-11
• Annual census (N-CEN) — filed 2019-05-09

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.