Undiscovered Managers Behavioral Value Fund
Actively managed U.S. stock fund
Capital appreciation.
The fund invests in common stocks of U.S. companies selected by sub-adviser Fuller & Thaler Asset Management using a behavioral finance approach that identifies value opportunities, typically among small capitalization companies similar to those in the Russell 2000 Value Index, though holdings may extend above that index's largest company. The sub-adviser's three-pronged selection process screens for positive signals such as insider buying or share repurchases, evidence of market overreaction that has depressed valuations, and sound business fundamentals and credit quality. The fund may also hold equity REITs. Because returns depend on the sub-adviser's security selections and their performance, results may diverge materially from the Russell 2000 Value Index or other benchmarks.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Amcor plc | 5.74% | $518.11M | 12.0M | $43.35 |
5.32% | $479.57M | 22.4M | $21.40 | |
3.64% | $328.71M | 8.5M | $38.88 | |
3.19% | $288.12M | 11.1M | $25.90 | |
2.75% | $247.82M | 10.1M | $24.44 | |
LKQLKQ Corp. | 2.71% | $244.59M | 9.3M | $26.33 |
2.40% | $216.53M | 3.8M | $56.35 | |
FNBFNB Corp. | 2.31% | $207.96M | 10.9M | $19.08 |
2.18% | $196.85M | 12.5M | $15.72 | |
White Mountains Insurance Group Ltd. | 1.90% | $171.00M | 82.5K | $2,073.39 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 88 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.75% |
| Cash & short-term | 1.46% |
By sector
- Financials
- 23.3%
- Industrials
- 13.8%
- Consumer Discretionary
- 13.1%
- Real Estate
- 12.0%
- 8 other sectors
- 37.8%
- Financials
- 23.3%
- Industrials
- 13.8%
- Consumer Discretionary
- 13.1%
- Real Estate
- 12.0%
- Materials
- 10.8%
- Health Care
- 8.8%
- Utilities
- 6.2%
- Consumer Staples
- 5.9%
- Energy
- 3.5%
- Cash
- 1.4%
- International
- 0.7%
- Information Technology
- 0.5%
How it has done
UBVLX share class · total returns with dividends reinvested
Volatility over the last 12 months: 12.48%. Past returns are a record, not a forecast.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 9 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.90% | +20.57% | +39.06% | +43.82% | -16.50% | |
| 1.24% | +20.16% | +37.66% | +41.33% | -16.62% | |
| 1.74% | +19.56% | +35.61% | +37.84% | -16.78% | |
| 0.99% | +20.47% | +38.69% | +43.11% | -16.53% | |
| 1.55% | +19.80% | +36.38% | +39.21% | -16.73% | |
| 0.80% | +20.69% | +39.49% | +44.54% | -16.46% | |
| 1.30% | +20.09% | +37.40% | +40.95% | -16.63% | |
| 1.05% | +20.37% | +38.42% | +42.72% | -16.55% | |
| 0.90% | +20.58% | +39.07% | +43.81% | -16.51% |
These classes hold the same portfolio, so the 6.70pp spread over 5 years is the cost difference between them — roughly 1.34pp a year — not a difference in what they own.
Fees & fund details
Undiscovered Managers Behavioral Value Fund is an actively managed U.S. equity fund. 12% of UBVLX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 88% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.80% – 1.74%· UBVLX 0.90%
- Portfolio turnover
- 35.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
2 new
4 exited
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