MLSAX — Aberdeen Focused U.S. Equity Fund
Data updated: 2025-04-01
MLSAX — Aberdeen Focused U.S. Equity Fund. United States Small Cap Blend / Core Equity · $12.54M AUM. Holdings, fees, performance and SEC filings.
MLSAX Fund Overview
MLSAX — Aberdeen Focused U.S. Equity Fund is a US mutual fund managed by abrdn Funds, categorised as United States Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: abrdn Funds
- Category: United States Small Cap Blend / Core Equity
- Assets under management: $12.54M
- 1-year return: 25.2%
- Ticker: MLSAX
- SEC CIK: 0001413594
- SEC series ID: S000020312
- Share class ID: C000057064
MLSAX Investment Objective and Strategy
Aberdeen Focused U.S. Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by abrdn Funds.
Investment objective
The Aberdeen Focused U.S. Equity Fund (formerly, Aberdeen Equity Long-Short Fund) (the Focused U.S. Equity Fund or the Fund) seeks long-term capital appreciation.
Principal investment strategy
As a non-fundamental policy, under normal circumstances, the Focused U.S. Equity Fund will invest at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities of companies that: are organized under the laws of, or have their principal office in the United States; have their principal securities trading market in the United States; and/or derive the majority of their annual revenue or earnings or assets from goods produced, sales made or services performed in the United States. Equity securities include, but are not limited to, common stock and preferred stock. If the Fund changes its 80% investment policy, it will notify shareholders at least 60 days before the change and, if necessary, will change the name of the Focused U.S. Equity Fund. The Fund will be managed pursuant to a focused strategy whereby the Funds investment adviser will typically invest the Funds assets in a small number of issuers.
Generally, the Fund expects to hold approximately 20 to 30 issuers. The Fund may invest in securities of any market capitalization and the amount of small-, mid- and large-capitalization companies will vary based on market conditions. The Fund may also invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector. The Fund may invest in securities denominated in U.S. Dollars and the currencies of any foreign countries in which it is permitted to invest. The Fund typically has full currency exposure to those markets in which it invests. The Fund invests predominantly in securities of U.S. issuers and may invest to a limited extent in Canadian issuers. In carrying out the Funds investment strategies, the Adviser employs a fundamental, bottom-up equity investment process, which is based on first-hand research and disciplined company evaluation.
Stocks are identified for their long-term, fundamental value based on quality and price. ESG (Environmental, Social and Governance) analysis is fully integrated into investment decisions for all equity holdings. As such, the Adviser evaluates ESG factors as part of the investment analysis process and this forms an integral component of the Advisers quality rating for all companies.
MLSAX Holdings
Top 10 holdings of Aberdeen Focused U.S. Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Corcept Therapeutics Inc | 4.24% |
| Wintrust Financial Corp | 3.84% |
| WSFS Financial Corp | 3.80% |
| Stride Inc | 3.72% |
| Aritzia Inc | 3.71% |
| Q2 Holdings Inc | 3.45% |
| Enpro Inc | 3.44% |
| Brinker International Inc | 3.04% |
| Vertex Inc | 3.01% |
| Boot Barn Holdings Inc | 3.01% |
MLSAX Portfolio Allocation
Asset-class allocation of Aberdeen Focused U.S. Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.5% |
| Cash & Equivalents | 2.3% |
MLSAX Performance
Total returns for MLSAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 25.2% |
| 3 years (annualised) | -0.0% |
| 5 years (annualised) | 10.3% |
MLSAX Risk Information
Risk metrics for MLSAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.4%
MLSAX Costs and Fees
MLSAX costs about $124 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.24%
- Gross expense ratio: 2.33%
- Portfolio turnover: 17%
- Brokerage commissions: 6.30 bps of average net assets (SEC N-CEN)
MLSAX Cashflows
Over the 12 months to 2025-01, Aberdeen Focused U.S. Equity Fund had net outflows of $4.32M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-01 | −$1.32M |
| 2024-12 | −$321.16K |
| 2024-11 | −$98.39K |
| 2024-10 | −$1.24M |
| 2024-09 | $29.05K |
| 2024-08 | −$232.74K |
MLSAX Debt Constituents
No individual debt constituents are reported in Aberdeen Focused U.S. Equity Fund's latest SEC N-PORT filing.
MLSAX Prospectus and SEC Filings
Official Aberdeen Focused U.S. Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-29
- Prospectus supplement (497) — filed 2024-03-05
- Prospectus supplement (497) — filed 2023-03-06
- Portfolio holdings (N-PORT) — filed 2025-04-01
- Portfolio holdings (N-PORT) — filed 2024-12-26
- Portfolio holdings (N-PORT) — filed 2024-09-26
- Annual census (N-CEN) — filed 2025-01-13
- Annual census (N-CEN) — filed 2024-01-16
Related Funds
Other United States Small Cap Blend / Core 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.