HDSVX — Hodges Small Intrinsic Value Fund
Data updated: 2023-08-29
HDSVX — Hodges Small Intrinsic Value Fund. Money Market · $42.00M AUM · 1.29% expense ratio · 11.3% 1-yr return. Holdings, fees, performance and SEC filings.
HDSVX Fund Overview
HDSVX — Hodges Small Intrinsic Value Fund is a US mutual fund managed by Professionally Managed Portfolios, 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: Professionally Managed Portfolios
- Category: Money Market
- Assets under management: $42.00M
- 1-year return: 11.3%
- Ticker: HDSVX
- SEC CIK: 0000811030
- SEC series ID: S000043607
- Share class ID: C000135204
HDSVX Investment Objective and Strategy
Hodges Small Intrinsic Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Professionally Managed Portfolios.
Investment objective
The Hodges Small Intrinsic Value Fund (the Small Intrinsic Value Fund) seeks long-term capital appreciation.
Principal investment strategy
The Small Intrinsic Value Fund employs a value strategy and invests, under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in common and preferred stocks of small capitalization (small cap) companies. The Small Intrinsic Value Fund defines small cap companies as those whose market capitalization, at the time of purchase, are consistent with the market capitalizations of companies in the Russell 2000 Value Index. As of the last reconstitution date, May 11, 2018, the market capitalization of companies in the Russell 2000 Value Index ranged from $159.2 million to $5 billion. The Small Intrinsic Value Fund will invest in companies where the Advisor believes their market prices do not reflect their true values. The Fund will typically seek to invest in companies that have a high amount of intrinsic asset value, low valuation multiples, or the potential for a turnaround in underlying revenue, earnings and/or cash flow.
Up to 20% of the Small Intrinsic Value Funds net assets may be invested in the stocks of micro, mid and/or large capitalization companies, U.S. government securities and other investment companies, including exchange traded funds (ETFs). Although most of the Small Intrinsic Value Funds securities will be domestic, the Fund may invest up to 25% of its net assets in equity securities of foreign issuers, including those in emerging markets, which may include both direct investments and investments in U.S. dollar denominated foreign securities, and in American Depositary Receipts (ADRs), European Depositary Receipts (EDRs) and Global Depositary Receipts (GDRs) consistent with the Funds investment objective. From time to time, the Small Intrinsic Value Fund may engage in short sale transactions with respect to up to 25% of its net assets.
The Small Intrinsic Value Fund also may invest in money market instruments and may, from time to time, purchase put and call options on U.S. traded stocks, currencies or security indices. The Small Intrinsic Value Fund may also sell options purchased and write covered put and call options. The Small Intrinsic Value Fund is permitted to invest up to 10% of its net assets in securities futures and options. The Small Intrinsic Value Fund uses a bottom-up approach in investing. The Fund invests in deep value situations that may sometimes require a longer time horizon. The Fund will typically seek to invest in companies that have a high amount of intrinsic asset value, low price to book ratios, above average dividend yields, low PE multiples, or the potential for a turnaround in the underlying fundamentals.
The Advisor will consider selling a security in the Small Intrinsic Value Funds portfolio, if the Advisor believes that security is no longer trading below its fair value or has reached its growth potential. In addition, in an attempt to increase the Small Intrinsic Value Funds tax efficiency or to satisfy certain tax diversification requirements, the Advisor may take tax considerations into account in deciding whether or when to sell a particular security. The Funds portfolio turnover could exceed 100% in a given year. A high turnover may result in the realization and distribution of capital gains, as well as higher transaction costs. Note: Because there are practical limits to the amount of small cap assets that can be effectively managed, the Small Intrinsic Value Fund will close to new investors when it reaches an asset size as determined by the Advisor to be too large to sustain additional assets.
Shareholders will be provided 30 days written notice upon such conditions. If the Small Intrinsic Value Fund closes to new investors, based on market conditions and other factors, it may reopen at a later date.
HDSVX Performance
Total returns for HDSVX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 11.3% |
| 3 years (annualised) | 26.3% |
HDSVX Risk Information
Risk metrics for HDSVX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 25.2%
HDSVX Costs and Fees
HDSVX costs about $129 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.29%
- Gross expense ratio: 1.78%
- Portfolio turnover: 56%
- Brokerage commissions: 21.24 bps of average net assets (SEC N-CEN)
HDSVX Cashflows
Over the 12 months to 2023-06, Hodges Small Intrinsic Value Fund had net inflows of $32.02M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | $907.30K |
| 2023-05 | $1.21M |
| 2023-04 | $1.13M |
| 2023-03 | $2.56M |
| 2023-02 | $845.30K |
| 2023-01 | $1.08M |
HDSVX Debt Constituents
No individual debt constituents are reported in Hodges Small Intrinsic Value Fund's latest SEC N-PORT filing.
HDSVX Prospectus and SEC Filings
Official Hodges Small Intrinsic Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-07-21
- Prospectus (485BPOS) — filed 2022-07-25
- Prospectus supplement (497) — filed 2020-09-15
- Portfolio holdings (N-PORT) — filed 2023-08-29
- Portfolio holdings (N-PORT) — filed 2023-05-26
- Portfolio holdings (N-PORT) — filed 2023-02-28
- Annual census (N-CEN) — filed 2023-06-12
- Annual census (N-CEN) — filed 2022-06-09
Related Funds
Other Money Market 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.