FULLERTHALER BEHAVIORAL SMALL-CAP GROWTH

Capitol Series Trust · 5 share classes

Actively managed U.S. equity fund
One fund, 5 share classes:FTXNXFTXSXFTXFXFTXAXFTXCX
$6.18B NAV
77 positions · as of 2026-06-30 · filed 2026-08-27

Fund classification

Classified from what the fund holds · as of 2026 Q2

FULLERTHALER BEHAVIORAL SMALL-CAP GROWTH is an actively managed U.S. equity fund. 56% of FTXNX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 95% of the fund’s equity).

Asset class
Equity
Region
United States
Management
Actively managed
Fund type
Open-end fund

Fund profile

As filed in the prospectus · 2026 Q1

The FullerThaler Behavioral Small-Cap Growth Fund (the ?Small-Cap Growth Fund? or the ?Fund?) seeks long-term capital appreciation.

Strategy · summarised

The fund invests in U.S. small-cap stocks selected through a behavioral finance framework that identifies moments when other investors have over-reacted or under-reacted to news, creating buying opportunities; it screens for companies with above-average earnings or sales growth and then applies fundamental analysis. The fund holds individual positions typically up to 10% of assets and may concentrate more than 25% in a sector when the behavioral strategy warrants it, though it will not exceed 25% in any single industry. Because the fund's security selection depends on identifying and exploiting behavioral mispricings rather than tracking an index, its performance may diverge materially from its benchmark.

Expenses
0.93% 1.94%across 5 share classes
Share classGrossNet
FTXNX1.36%1.36%
FTXSX1.09%1.05%
FTXFX0.95%0.93%
FTXAX1.33%1.33%
FTXCX1.95%1.94%

Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.

Portfolio turnover 99.00% · as of 2026 Q1

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

103.49%
of net assets
Stocks97.96%
Cash & short-term5.53%

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
Information Technology37.8%
Industrials24.6%
Health Care19.2%
Consumer Discretionary7.4%
5 smaller11.0%

Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).

Portfolio growth profile

How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2

Revenue growth
56%of stock holdings in top-quartile growers
covering 95% of the fund’s equity

Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 22 new19 exited

Largest new: MXL, AAON, RAL, LQDA, PTCT, FROG, SARO, ARW

Largest exited: AEIS, CRC, PRIM, RRR, BOOT, BROS, KVYO, MUR

Return profile

Chart:

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

Share class1-year3-year5-yearVolWorst fall
+63.96%+115.67%+86.04%22.24%-21.73%
+64.43%+117.53%+88.69%22.25%-21.67%
+64.63%+118.15%+89.58%22.23%-21.66%
-19.45%-74.44%-94.68%20.95%-77.51%
+45.34%+49.70%+1.06%22.18%-24.66%

These classes hold the same portfolio, so the 184.26pp spread over 5 years is the cost difference between them — roughly 36.85pp a year — not a difference in what they own.

Cumulative return· Jul 2023 – Apr 2026

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.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
LUMENTUM HOLDINGS INCLITE4.95%$305.56M
BLOOM ENERGY CORPBE4.78%$295.39M
ASTERA LABS INCALAB4.43%$273.68M
DIGITALOCEAN HOLDINGS INCDOCN4.40%$271.93M
GUARDANT HEALTH INCGH4.20%$259.48M
VERTIV HOLDINGS COMPANYVRT3.61%$222.88M
MUFG Collateral3.42%$211.25M
MODINE MANUFACTURING COMPANYMOD3.17%$195.57M
VIASAT INCVSAT2.87%$177.24M
CREDO TECHNOLOGY GROUP HOLDING LTDCRDO2.86%$176.63M
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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.

Top 10 positions are 38.69% of net assets, top 25 62.55%, across 77 issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

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