FAKDX — Kempner Multi-Cap Deep Value Fund
Data updated: 2025-10-29
FAKDX — Kempner Multi-Cap Deep Value Fund. United States Multi-Cap / All-Cap Value Equity · $98.76M AUM. Holdings, fees, performance and SEC filings.
FAKDX Fund Overview
FAKDX — Kempner Multi-Cap Deep Value Fund is a US mutual fund managed by Ultimus Managers Trust, categorised as United States Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ultimus Managers Trust
- Category: United States Multi-Cap / All-Cap Value Equity
- Assets under management: $98.76M
- 1-year return: 9.9%
- Ticker: FAKDX
- SEC CIK: 0001545440
- SEC series ID: S000057335
- Share class ID: C000182953
FAKDX Investment Objective and Strategy
Kempner Multi-Cap Deep Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ultimus Managers Trust.
Investment objective
"The Kempner Multi-Cap Deep Value Fund (the ""Fund"") seeks to generate a total pre-tax return, including capital growth and dividends, that is greater than the rate of inflation over a three-to-five-year period."
Principal investment strategy
"The Fund invests primarily in common stocks, but may also invest in other types of equity securities, such as real estate investment trusts (""REITs""), American Depositary Receipts (""ADRs""), or other similar publicly traded securities (such as convertible preferred stocks and convertible debentures). To achieve the Fund's investment objective, Kempner Capital Management, Inc. (the ""Adviser"") utilizes a deep value style of investing in which it chooses securities that it believes are currently undervalued in the market but have earnings potential or other factors that make them attractive. Value investing generally refers to buying securities an investment adviser determines to be undervalued by the market; the Adviser's deep value style screens for securities that are trading at no more than 20% above the security's 52-week lowest price; further, each security pays or has declared dividends or other income at the time of purchase.
The securities purchased are frequently deemed out of favor or underappreciated by the market, including institutional and individual investors, as determined by the Adviser, and thus provide the opportunity to purchase at prices significantly below their true value as determined by the Adviser. Next, the Adviser analyzes securities on an individual, bottom-up basis, to determine which securities it believes can deliver capital appreciation and steady dividend earnings over the long-term. The Fund may invest in companies of all capitalizations. The Adviser generally selects securities for the Fund's portfolio based on individual stocks rather than on industries or industry groups. The Adviser screens a universe of approximately 7,500 stocks to find companies which meet most of its criteria for price-earnings ratio (15X), projected 12-month earnings, price/cash flow multiple, price/book multiple and price less than or equal to 20% above the 52-week low.
A dividend yield is required. The Adviser considers it unrealistic for it to be able to purchase a stock at its bottom; therefore, the Adviser establishes portfolio positions in a security by gradually purchasing the security at progressively lower prices, which results in a lower average price for the total position. The Adviser also considers it unrealistic for it to be able to sell a stock at its highest price level, and as a result, the Adviser seeks to lock in reasonable returns when they are offered and generally sells gradually as an issue rises. When the Adviser believes that market conditions are unfavorable for profitable investing, or is otherwise unable to locate attractive investment opportunities, it may increase the Fund's investments in cash or money market instruments to protect the Fund's assets and maintain liquidity.
When the Fund's investments in cash or money market instruments increase, it may not participate in market advances or declines to the same extent that it would if the Fund remained more fully invested in equity securities."
FAKDX Holdings
Top 10 holdings of Kempner Multi-Cap Deep Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Funds Inc. | 11.57% |
| Taiwan Semiconductor Manufacturing Co., Ltd. | 6.49% |
| Micron Technology Inc. | 5.28% |
| Citigroup Inc. | 3.64% |
| Bank of America Corp. | 3.57% |
| Walt Disney Company | 3.44% |
| Lincoln National Corp. | 3.25% |
| Global Payments Inc | 3.22% |
| Sensata Technologies Holding PLC | 3.20% |
| Alphabet Inc. | 2.98% |
FAKDX Portfolio Allocation
Asset-class allocation of Kempner Multi-Cap Deep Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 88.3% |
| Cash & Equivalents | 11.6% |
FAKDX Performance
Total returns for FAKDX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 9.9% |
| 3 years (annualised) | 14.0% |
| 5 years (annualised) | 13.7% |
FAKDX Risk Information
Risk metrics for FAKDX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 13.2%
FAKDX Costs and Fees
FAKDX costs about $122 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.22%
- Gross expense ratio: 1.22%
- Portfolio turnover: 37%
- Brokerage commissions: 8.34 bps of average net assets (SEC N-CEN)
FAKDX Cashflows
Over the 12 months to 2025-08, Kempner Multi-Cap Deep Value Fund had net inflows of $1.24M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-08 | −$347.22K |
| 2025-07 | −$85.96K |
| 2025-06 | −$77.37K |
| 2025-05 | −$316.70K |
| 2025-04 | −$568.76K |
| 2025-03 | $31.73K |
FAKDX Debt Constituents
No individual debt constituents are reported in Kempner Multi-Cap Deep Value Fund's latest SEC N-PORT filing.
FAKDX Prospectus and SEC Filings
Official Kempner Multi-Cap Deep Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-09-27
- Prospectus (485BPOS) — filed 2023-09-28
- Prospectus supplement (497) — filed 2022-10-03
- Portfolio holdings (N-PORT) — filed 2025-10-29
- Portfolio holdings (N-PORT) — filed 2025-07-29
- Portfolio holdings (N-PORT) — filed 2025-04-25
- Annual census (N-CEN) — filed 2025-08-12
- Annual census (N-CEN) — filed 2024-08-12
Related Funds
Other United States Multi-Cap / All-Cap Value Equity funds tracked on ABC INVEST:
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.