Small Cap Growth Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Small Cap Growth Fund held 139 positions with $5.06B in net assets. Its ten largest holdings made up 17.1% of the fund. The ANONX share class costs 0.93% a year. Over the 12 months to May 2026, ANONX returned 25.8%, with dividends reinvested. In 2026 Q3 it added 40 new positions and exited 30.
The fund seeks long-term capital growth.
The fund invests at least 80% of its net assets in small-cap stocks—those with market capitalizations not exceeding approximately $26.0 billion, the size of the largest company in the Russell 2000 Growth Index as of December 31, 2025. Portfolio managers select stocks by identifying companies with earnings and revenues growing at an accelerating pace, including those showing improving negative growth rates and expected future acceleration, and may also favor stocks demonstrating relative price strength against peers. The fund may engage in active and frequent trading, which can increase transaction costs and capital gains distributions. Foreign securities may be held when they meet the managers' selection criteria.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
2.34% | $118.37M | 229.6K | $515.62 | |
PLXSPlexus Corp | 1.80% | $91.02M | 363.2K | $250.58 |
1.78% | $90.33M | 414.9K | $217.70 | |
1.77% | $89.43M | 149.3K | $599.09 | |
AGXArgan Inc | 1.70% | $86.08M | 128.5K | $669.98 |
1.68% | $84.85M | 1.1M | $74.14 | |
SITMSiTime Corp | 1.59% | $80.56M | 143.3K | $562.15 |
FNFabrinet | 1.59% | $80.39M | 117.6K | $683.47 |
HXLHexcel Corp | 1.48% | $74.88M | 797.7K | $93.87 |
1.38% | $70.06M | 188.1K | $372.42 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 139 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 | 99.14% |
| Cash & short-term | 1.62% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Health Care
- 26.2%
- Information Technology
- 19.8%
- Industrials
- 18.1%
- Financials
- 8.6%
- 10 other sectors
- 27.3%
- Health Care
- 26.2%
- Information Technology
- 19.8%
- Industrials
- 18.1%
- Financials
- 8.6%
- Consumer Discretionary
- 7.5%
- Energy
- 4.2%
- International
- 3.9%
- Materials
- 3.7%
- Real Estate
- 2.0%
- Communication Services
- 1.7%
- Consumer Staples
- 1.2%
- Other
- 1.2%
- Utilities
- 1.0%
- Cash
- 0.9%
How it has done
ANONX share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.84%. Past returns are a record, not a forecast.
Jun 2026 and Jul 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 |
|---|---|---|---|---|---|
| 0.93% | +25.84% | +58.28% | +25.91% | -16.01% | |
| 1.13% | +25.60% | +57.31% | +24.66% | -16.06% | |
| 1.38% | +25.29% | +56.15% | +23.11% | -16.09% | |
| 2.13% | +24.31% | +52.58% | +18.57% | -16.37% | |
| 1.63% | +25.02% | +54.97% | +21.57% | -16.16% | |
| 0.78% | +26.08% | +58.96% | +26.90% | -15.98% | |
| 0.93% | +25.88% | +58.22% | +25.89% | -16.01% | |
| 0.78% | +26.06% | +59.01% | +26.89% | -15.97% | |
| 0.00% | +27.03% | +62.79% | +32.05% | -15.84% |
These classes hold the same portfolio, so the 13.48pp spread over 5 years is the cost difference between them — roughly 2.70pp a year — not a difference in what they own.
Fees & fund details
Small Cap Growth Fund is an actively managed U.S. equity fund. 42% of ANONX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 84% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.00% – 2.13%· ANONX 0.93%
- Portfolio turnover
- 90.00% a year · as of 2026 Q1
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.
40 new· the largest 8
30 exited· the largest 8
Understand how this fund fits with the rest.
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