Undiscovered Managers Behavioral Value Fund
UNDISCOVERED MANAGERS FUNDS · 9 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2025 Q4
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.
| Share class | Gross | Net |
|---|---|---|
| UBVLX | 0.94% | 0.90% |
| UBVAX | 1.34% | 1.24% |
| UBVCX | 1.84% | 1.74% |
| UBVSX | 1.09% | 0.99% |
| UBVRX | 1.62% | 1.55% |
| UBVFX | 0.84% | 0.80% |
| UBVTX | 1.35% | 1.30% |
| UBVUX | 1.10% | 1.05% |
| UBVVX | 0.94% | 0.90% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 35.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.75% |
| Cash & short-term | 1.46% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 23.3% |
| Industrials | 13.8% |
| Consumer Discretionary | 13.1% |
| Real Estate | 12.0% |
| 8 smaller | 37.8% |
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
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
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +20.57% | +39.06% | +43.82% | 12.48% | -16.50% | |
| +20.16% | +37.66% | +41.33% | 12.47% | -16.62% | |
| +19.56% | +35.61% | +37.84% | 12.47% | -16.78% | |
| +20.47% | +38.69% | +43.11% | 12.47% | -16.53% | |
| +19.80% | +36.38% | +39.21% | 12.48% | -16.73% | |
| +20.69% | +39.49% | +44.54% | 12.47% | -16.46% | |
| +20.09% | +37.40% | +40.95% | 12.46% | -16.63% | |
| +20.37% | +38.42% | +42.72% | 12.47% | -16.55% | |
| +20.58% | +39.07% | +43.81% | 12.47% | -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.
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
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Amcor plc | 5.74% | $43.35 | $518.11M | 12.0M |
| DOC | Healthpeak Properties, Inc.DOC | 5.32% | $21.40 | $479.57M | 22.4M |
| FIS | Fidelity National Information Services, Inc.FIS | 3.64% | $38.88 | $328.71M | 8.5M |
| ONB | Old National BancorpONB | 3.19% | $25.90 | $288.12M | 11.1M |
| PRMB | Primo Brands Corp.PRMB | 2.75% | $24.44 | $247.82M | 10.1M |
| LKQ | LKQ Corp.LKQ | 2.71% | $26.33 | $244.59M | 9.3M |
| SON | Sonoco Products Co.SON | 2.40% | $56.35 | $216.53M | 3.8M |
| FNB | FNB Corp.FNB | 2.31% | $19.08 | $207.96M | 10.9M |
| COLD | Americold Realty Trust, Inc.COLD | 2.18% | $15.72 | $196.85M | 12.5M |
| — | White Mountains Insurance Group Ltd. | 1.90% | $2,073.39 | $171.00M | 82.5K |
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 32.13% of net assets, top 25 57.65%, across 88 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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