Free Market U.S. Equity Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Free Market U.S. Equity Fund held 10 positions with $5.73B in net assets. Its ten largest holdings made up 100.1% of the fund. The FMUEX share class costs 0.76% a year. Over the 12 months to May 2026, FMUEX returned 36.1%, with dividends reinvested. In 2026 Q2 it added no new positions and exited none.
The Free Market U.S. Equity Fund (for this section only, the Fund) seeks long-term capital appreciation.
The fund is a fund of funds that invests at least 80% of its assets in shares of other registered investment companies and ETFs focused on different U.S. equity segments: large-cap value stocks, small-cap value stocks, broad large-cap (S&P 500), small-cap, and micro-cap securities. The adviser periodically reviews and adjusts allocations among these underlying investment companies without notice to shareholders. Because the fund's returns depend on the selection and performance of the underlying investment companies it holds, divergence from the fund's objective may result if those underlying companies underperform their strategies or if the adviser's allocation decisions prove suboptimal.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
DFA US Small Cap Value Portfol | 24.24% | $1.39B | 23.4M | $59.28 |
Dimensional US Large Cap Value | 17.12% | $981.36M | 23.8M | $41.26 |
DFA US Micro Cap Portfolio | 14.72% | $843.90M | 23.2M | $36.44 |
DFA US Small Cap Portfolio | 14.68% | $841.25M | 14.2M | $59.31 |
iShares Core S&P 500 ETF | 9.82% | $562.73M | 740.4K | $760.05 |
iShares MSCI USA Value Factor | 8.38% | $480.13M | 2.4M | $198.12 |
DFA US Large Company Portfolio | 5.51% | $316.16M | 6.3M | $50.37 |
U.S. LARGE CAP VALUE SERIES | 5.51% | $315.62M | 2.8M | $111.70 |
Invesco Government & Agency Po | 0.08% | $4.54M | — | — |
Mount Vernon Liquid Assets Portfolio, LLC | 0.04% | $2.51M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
All 10 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 | 99.97% |
| Cash & short-term | 0.12% |
How it has done
FMUEX share class · total returns with dividends reinvested
Volatility over the last 12 months: 11.48%. Past returns are a record, not a forecast.
Fees & fund details
Free Market U.S. Equity Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 0.76%· FMUEX 0.76%
- Portfolio turnover
- 6.00% a year · as of 2026 Q1
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.
0 new
0 exited
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