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Jacob Small Cap Growth Fund

Fund Overview

Ticker:
JSCGX
Investment Category:

Small Growth

Objective:

Long-term growth of capital.

Investment Minimums:

Initial minimum investment of $2500. For IRA, UGMA, 401(k), other retirement accounts, and accounts establishing an Automatic Investment Plan, the minimum investment is $1000.

Investment Strategy:

The Jacob Small Cap Growth Fund seeks to provide its investors with above average total returns from a broad group of small capitalization companies that are early in their development and that the Fund believes have significant growth potential. To achieve this goal, the Fund looks to own companies with, in their opinion, sustainable competitive advantages that may allow them to generate above average returns on capital over long periods of time. Furthermore, it strives to acquire the shares of these companies at reasonable prices. It is the Fund’s goal that the financial rewards to the shareholder should reflect the company’s strong economic performance.

Daily NAV

06/23/2017
Ticker
JAMFX
JSCGX
JMCGX
JMIGX
NAV
$4.61
$18.35
$11.03
$12.0
$ Change
0.06
0.32
0.14
0.16
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The portfolio managers follow a three-step process to identify and monitor the Fund's investments:

Find

The first step in our investment process is to narrow down the seemingly infinite universe of possibilities and to focus on what we feel are the most attractive opportunities. Accomplishing this step is no easy task. It requires countless hours of research - scouring the Web, reading analyst reports, running quantitative screens, attending conferences, speaking to executives - all in an attempt to find those relatively rare nuggets worth looking into more closely. Sometimes those nuggets are individual companies, and sometimes they are broader themes that can open up a wide range of potential investments.

Filter

Once we find an intriguing investment idea, we then deploy a thorough qualitative and quantitative review process to determine if the opportunity is as attractive as it appears and can be had at a fair price. Very few of our ideas that we uncover end up being part of our concentrated portfolios.

Ideally, we are looking for companies that play in large markets in which there are significant barriers to entry, enjoy what we believe is a strong competitive position with growing market share, and boast capable management teams with proven track records. We want the companies to have unique assets - such as proprietary technologies or unusually loyal customers - with the possibility that positive near-term catalysts could drive the value of our investment higher.

If everything looks good qualitatively, we turn our focus to valuation. We evaluate many different quantitative criteria including cash flows, income statement and balance sheet items. We determine what a company is likely to generate in sales and profits for the coming years and then, using several different metrics, calculate a fair valuation based on those estimates.

Of course, we also consider the biggest risks to each company's outlook and gauge the likelihood that these potential pitfalls could derail the investment thesis.

Follow-Up

Once we add an investment to one of our portfolios, we continue to monitor the position closely, making sure that our original analysis remains valid. We will often rebalance or potentially exit a position if the risk/reward ratio for the investment changes materially. We also conduct detailed portfolio reviews on a regular basis.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Total Returns as of Month-End (05/31/2017 ) Total Returns as of Quarter-End (03/31/2017 ) Total Returns as of (03/31/2017 )
Month Quarter 1 Year 3 Years 5 Years Since Inception*
Jacob Small Cap Growth Fund -1.58% 0.23% 24.09% -3.55% 2.91% 7.17%
Russell 2000 Growth Index -0.91% 5.35% 23.03% 6.72% 12.10% 14.27%

*Inception Date: 2/1/2010
Performance shown is for Investor Class
Expense Ratio: Gross 3.14% Net 2.26%**

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-522-6939.

The fund imposes a 2.00% redemption fee on shares held less than 30 days. Performance data does not reflect the redemption fee. If reflected, returns would be lower. The fund imposes neither a maximum sales charge on purchases nor a maximum deferred sales charge.

**The advisor has contractually agreed to waive fees through January 2, 2018.

Investment performance reflects fee waivers. In the absence of these waivers returns would be reduced.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values. You cannot invest directly in an index.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Fund Holdings as of April 30, 2017

Company Name Symbol $ Market Value % of Net Assets
Yelp Inc YELP 812,659.50 5.39
Hortonworks Inc HDP 728,700.00 4.83
Codexis Inc CDXS 627,202.40 4.16
Pandora Media Inc P 566,370.00 3.76
WebMD Health Corp WBMD 558,569.00 3.71
Bazaarvoice Inc BV 547,080.00 3.63
Logmein Inc LOGM 545,225.00 3.62
Tillys Inc TLYS 501,900.00 3.33
Energy Recovery ERII 490,566.56 3.25
Esperion ESPR 468,325.00 3.11
Ring Energy Inc REI 468,000.00 3.10
Sina Corp SINA 457,787.60 3.04
Intersect Ent Inc XENT 410,400.00 2.72
Oasis Pete Inc New OAS 401,184.00 2.66
Paylocity Hldg Corp PCTY 394,400.00 2.62
XPO Logistics Inc XPO 380,303.00 2.52
Carrizo Oil & Gas Inc CRZO 367,190.00 2.44
Midsouth Bancorp MSL 366,000.00 2.43
Twilio Inc TWLO 363,550.00 2.41
BJS Restaurants Inc BJRI 356,290.00 2.36
Entegra Finl Corp ENFC 354,750.00 2.35
First Northwest Bancorp FNWB 340,491.56 2.26
Intercept ICPT 337,050.00 2.24
NV5 Global Inc NVEE 336,690.00 2.23
Aspen Aerogels Inc ASPN 328,860.00 2.18

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.

By clicking on the company names, you will be leaving the Jacob Funds website and will be entering a third-party website. Jacob Funds is not responsible for, nor can guarantee, the accuracy of any information contained on a third party site.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

Sectors as of August 31, 2016

Sector Name %
Biotech & Pharmaceuticals 15.3
Cable/Satellite TV   1.4
Chemicals   1.9
Energy-Exploration & Production   5.8
Financial   4.5
Industrial 11.0
Machinery   3.0
Medical Devices   7.1
Retail & Restaurants   5.2
Textiles, Apparel & Luxury Goods   5.1
Technology-Hardware   2.2
Technology-Software & Services 42.0
Money Market Fund   0.6

 

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.


The Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Click here to view Pinebridge Small Cap Growth Class I 8937 form.
Click here to view Pinebridge Small Cap Growth Class R 8937 form.

JACOB FUNDS