RAMSX — Roumell Opportunistic Value Fund
Data updated: 2025-01-23
RAMSX — Roumell Opportunistic Value Fund. Money Market · $8.23M AUM · 1.28% expense ratio · 10.3% 1-yr return. Holdings, fees, performance and SEC filings.
RAMSX Fund Overview
RAMSX — Roumell Opportunistic Value Fund is a US mutual fund managed by Starboard Investment Trust, 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: Starboard Investment Trust
- Category: Money Market
- Assets under management: $8.23M
- 1-year return: 10.3%
- Ticker: RAMSX
- SEC CIK: 0001464413
- SEC series ID: S000030088
- Share class ID: C000092405
RAMSX Investment Objective and Strategy
Roumell Opportunistic Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Starboard Investment Trust.
Investment objective
"The Roumell Opportunistic Value Fund (the ""Fund"") seeks capital appreciation and income."
Principal investment strategy
"Roumell Asset Management, LLC pursues long-term capital growth and income through opportunistic value investing. The Advisor seeks to own a basket of deeply researched securities that are out of favor, overlooked, or misunderstood by Wall Street and thus able to be bought at a significant discount to our calculation of intrinsic value. The Advisor emphasizes conservatively financed securities. The Advisor believes this strategy will likely maximize the probability of above-average rates of return over time. Roumell Asset Management invests predominantly in companies that it considers to have strong balance sheets. Roumell Asset Management believes this approach may significantly reduce the risk of loss of capital. The companies in which Roumell Asset Management invests generally possess valuable assets, tend to have substantial cash positions, and are typically unencumbered by significant liabilities.
The Advisor is an opportunistic capital allocator (OCA) with a deep value bias in selecting individual securities. The Advisor will wait until an investment situation is presented where, in its opinion, the odds of success are favorable relative to the risks. In the absence of such situations, the Fund will stay liquid and on the sidelines invested in cash and cash equivalents. The Advisor's approach to opportunistic investing emphasizes purchasing securities at a meaningful, quantifiable discount to its calculation of intrinsic value taking into consideration the understandability of the business model, the safety of the capital structure, and the competency of the company's management. Using this opportunistic strategy, however, may result in the Advisor finding many suitable investment opportunities for the Fund during certain periods but finding very few during other periods.
The Advisor believes that its strength lies in digging deeply into specific securities (primarily equity, but opportunistically in fixed income as well), assessing underlying value, and remaining highly disciplined about what it deems to be a reasonable price for those securities. The Fund's portfolio will primarily consist of (i) domestic and foreign equity securities ( common stock, preferred stock, warrants, securities convertible into common stocks); (ii) domestic and foreign fixed income securities consisting of government and corporate debt securities, ""junk"" bonds, municipal securities, and real estate investment trusts (""REITs""); and (iii) interest-bearing instruments consisting of treasury bills, other U.S. government obligations and bonds, collateralized repurchase contracts, money market instruments, and money market funds (collectively referred to as cash and cash equivalents).
The Fund may invest in these securities directly or indirectly through investments in other investment companies, principally closed-end funds and exchange-traded funds (""ETFs""). The Fund will primarily invest in domestic equity; however, there is no predetermined allocation of the Fund's assets among equity securities, fixed income securities, and cash and cash equivalents. The Advisor will allocate the Fund's assets as it deems appropriate in accordance with the Fund's investment objective and investment strategy. The Fund's investment policy may be changed without shareholder approval upon prior written notice to shareholders. The Fund is not limited in its investments by market capitalization or sector criteria, though it focuses on small and micro cap equities. The Fund may invest in fixed income securities of variable terms, any maturity, and any credit quality determined by the major credit rating agencies, including junk bonds, bonds of issuers in default, and unrated bonds deemed by the Advisor to be of comparable quality .
The portion of the Fund's portfolio allocated to fixed income securities does not have an established average duration. REITs in which the Fund invests may include equity REITs, mortgage REITs, and hybrid REITs. The Fund is not diversified."
RAMSX Holdings
Top 10 holdings of Roumell Opportunistic Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Ib Money Market Ii | 10.32% |
| Treasury Bill | 9.91% |
| Dundee Precious | 9.06% |
| Liberty Energy | 8.69% |
| Olo Inc | 8.63% |
| Liquidity Services I | 8.21% |
| Magnite, Inc. | 8.17% |
| Opera Limited | 7.88% |
| Kite Realty Group Tr | 5.98% |
| Patterson-Uti Energy | 5.41% |
RAMSX Portfolio Allocation
Asset-class allocation of Roumell Opportunistic Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 78.8% |
| Cash & Equivalents | 10.3% |
| Fixed Income | 9.9% |
| Other | 1.1% |
RAMSX Performance
Total returns for RAMSX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.3% |
| 3 years (annualised) | -8.4% |
RAMSX Risk Information
Risk metrics for RAMSX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.4%
RAMSX Costs and Fees
RAMSX costs about $128 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.28%
- Gross expense ratio: 1.46%
- Portfolio turnover: 55%
- Brokerage commissions: 18.02 bps of average net assets (SEC N-CEN)
RAMSX Cashflows
Over the 12 months to 2024-11, Roumell Opportunistic Value Fund had net outflows of $68.76M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-11 | −$24.84M |
| 2024-10 | −$16.47M |
| 2024-09 | −$2.62M |
| 2024-08 | −$22.12M |
| 2024-07 | −$2.61M |
| 2024-06 | −$5.88M |
RAMSX Debt Constituents
Largest debt holdings of Roumell Opportunistic Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 9.91% |
RAMSX Prospectus and SEC Filings
Official Roumell Opportunistic Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-12-29
- Prospectus (485BPOS) — filed 2021-12-29
- Prospectus supplement (497) — filed 2024-01-05
- Portfolio holdings (N-PORT) — filed 2025-01-23
- Portfolio holdings (N-PORT) — filed 2024-10-23
- Portfolio holdings (N-PORT) — filed 2024-07-24
- Annual census (N-CEN) — filed 2024-11-14
- Annual census (N-CEN) — filed 2023-11-14
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.