TRSDX — Torray Resolute Small/Mid Cap Growth Fund
Data updated: 2022-03-14
TRSDX — Torray Resolute Small/Mid Cap Growth Fund. Japan Mid Cap Growth Equity · $15.82M AUM. Holdings, fees, performance and SEC filings.
TRSDX Fund Overview
TRSDX — Torray Resolute Small/Mid Cap Growth Fund is a US mutual fund managed by Managed Portfolio Series, categorised as Japan Mid Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Managed Portfolio Series
- Category: Japan Mid Cap Growth Equity
- Assets under management: $15.82M
- 1-year return: 30.4%
- Ticker: TRSDX
- SEC CIK: 0001511699
- SEC series ID: S000047869
- Share class ID: C000150334
TRSDX Investment Objective and Strategy
Torray Resolute Small/Mid Cap Growth Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Managed Portfolio Series.
Investment objective
The TorrayResolute Small/Mid Cap Growth Fund (the Fund) seeks long-term capital appreciation.
Principal investment strategy
The Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks of small and mid-capitalization companies organized in the United States that the Adviser believes should generate excess returns, as compared to the Russell 2500 TM Growth Index, with below-market risk over time, namely companies with superior operating and financial characteristics and proven records of increasing earnings on a consistent and sustainable basis. The Fund typically invests in a portfolio of 25 to 30 small and mid-capitalization stocks with a long-term orientation and a quality focus. The Fund considers a company to be a small or mid-capitalization company if it has a market capitalization, at the time of purchase, within the capitalization range of the Russell 2500 TM Growth Index.
The market capitalizations within the Index vary, but as of March 31, 2018 they ranged from approximately $7.7 million to $19.5 billion. Although the Fund will invest primarily in the common stocks of U.S. companies, the Fund may invest up to 15% of its assets in common stocks of foreign companies that are organized and headquartered in countries classified as developed by MSCI. As of December 31, 2017, the following foreign countries were classified as developed by MSCI: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the UK. As a part of its investment in foreign companies, the Fund may also invest in American Depository Receipts (ADRs), which are dollar-denominated negotiable certificates issued by a U.S.
Bank representing a specified number of shares in a foreign stock that is traded on a U.S. exchange, with the underlying security held by a U.S. financial institution overseas. In considering whether to invest in the securities of a foreign company, the Adviser considers such factors as the characteristics of the particular company, differences between economic trends and the performance of securities markets within the U.S. and those within other countries, and also factors relating to the general economic, governmental and social conditions of the country or countries where the company is located. The extent to which the Fund invests in foreign companies will fluctuate from time to time depending on the Advisers assessment of prevailing market, economic and other conditions. The Adviser selects securities for the Funds investment portfolio by using a bottom-up quantitative and qualitative analysis to identify companies that exhibit sustainable growth characteristics, including durable competitive advantages, high returns on equity, efficient use of capital, demonstrated low volatility in financial and operating metrics, low exposure to cyclical trends, and capital allocation discipline.
Risk management is a key component of the Advisers portfolio construction process. In the security selection and portfolio construction process, the Adviser targets low correlation among existing and prospective holdings as measured by security price changes over 3, 5 and 10 year periods. The Adviser also employs individual position limits of 7% of total assets in order to manage risk. The Adviser may reduce or sell investment positions for a variety of reasons, including when it identifies superior ideas, when valuations are excessive, when operating volatility increases, when sector or position limits are exceeded, or when an original investment thesis fails. While the Fund will not concentrate its investments in any one industry, the Fund may have a significant exposure to one or more sectors of the economy.
TRSDX Holdings
Top 10 holdings of Torray Resolute Small/Mid Cap Growth Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Government Obli | 5.15% |
| SBA Communications Corp | 4.35% |
| Pool Corp | 4.26% |
| RBC Bearings Inc | 4.13% |
| AMN Healthcare Services Inc | 3.87% |
| Monolithic Power Systems Inc | 3.80% |
| Zebra Technologies Corp | 3.79% |
| Catalent Inc | 3.76% |
| Cooper Cos Inc/The | 3.58% |
| Halozyme Therapeutics Inc | 3.52% |
TRSDX Portfolio Allocation
Asset-class allocation of Torray Resolute Small/Mid Cap Growth Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 95.1% |
| Cash & Equivalents | 5.1% |
TRSDX Performance
Total returns for TRSDX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 30.4% |
TRSDX Risk Information
Risk metrics for TRSDX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.4%
TRSDX Costs and Fees
TRSDX costs about $126 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.26%
- Gross expense ratio: 3.21%
- Portfolio turnover: 33%
TRSDX Cashflows
Over the 12 months to 2021-09, Torray Resolute Small/Mid Cap Growth Fund had net inflows of $683.29K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-09 | $12.72K |
| 2021-08 | $15.92K |
| 2021-07 | $44.22K |
| 2021-06 | $14.42K |
| 2021-05 | $71.92K |
| 2021-04 | $47.74K |
TRSDX Debt Constituents
No individual debt constituents are reported in Torray Resolute Small/Mid Cap Growth Fund's latest SEC N-PORT filing.
TRSDX Prospectus and SEC Filings
Official Torray Resolute Small/Mid Cap Growth Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-04-28
- Prospectus (485BPOS) — filed 2020-05-12
- Prospectus (485BPOS) — filed 2019-05-20
- Portfolio holdings (N-PORT) — filed 2021-11-24
- Portfolio holdings (N-PORT) — filed 2021-08-27
- Portfolio holdings (N-PORT) — filed 2021-05-25
- Annual census (N-CEN) — filed 2022-03-14
- Annual census (N-CEN) — filed 2021-03-11
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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.