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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

11/22/2017
Ticker
JAMFX
JSCGX
JSIGX
JMCGX
JMIGX
NAV
$5.1
$20.0
$20.27
$12.2
$13.29
$ Change
0.02
0.17
0.17
0.03
0.04
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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 operate 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 (10/31/2017 ) Total Returns as of Quarter-End (09/30/2017 ) Total Returns as of (09/30/2017 )
Month Quarter 1 Year 3 Years 5 Years Since Inception*
Jacob Small Cap Growth Fund 0.16% 5.80% 9.33% 2.27% 5.91% 8.23%
Russell 2000 Growth Index 1.55% 6.22% 20.98% 12.17% 14.28% 14.82%

*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 September 30, 2017

Company Name Symbol $ Market Value % of Net Assets
Yelp Inc YELP 972,085.00 6.40
Codexis Inc CDXS 848,180.90 5.58
Hortonworks Inc HDP 735,630.00 4.84
Carrizo Oil & Gas Inc CRZO 712,608.00 4.69
Tripadvisor Inc TRIP 648,480.00 4.27
Oasis Pete Inc New OAS 574,560.00 3.78
Bazaarvoice Inc BV 511,790.40 3.37
NV5 Global Inc NVEE 469,990.00 3.09
Energy Recovery ERII 459,179.60 3.02
Paylocity Hldg Corp PCTY 456,467.00 3.01
Esperion ESPR 441,056.00 2.90
Logmein Inc LOGM 431,946.25 2.84
Sina Corp SINA 431,084.00 2.84
Mastec Inc MTZ 422,240.00 2.78
Twilio Inc TWLO 376,110.00 2.48
Entegra Finl Corp ENFC 374,250.00 2.46
Pandora Media Inc P 358,050.00 2.36
First Northwest Bancorp FNWB 353,730.60 2.33
Aspen Aerogels Inc ASPN 352,350.00 2.32
XPO Logistics Inc XPO 338,900.00 2.23
Reis Inc REIS 336,978.00 2.22
Ring Energy Inc REI 333,270.00 2.19
Teladoc Inc TDOC 331,500.00 2.18
Tillys Inc TLYS 305,745.00 2.01
Chuys Hldgs INc CHUY 288,385.00 1.90
American Eagle Outfitters AEO 286,000.00 1.88
BJS Restaurants Inc BJRI 264,915.00 1.74
Intercept ICPT/a> 261,180.00 1.72
Intersect Ent Inc XENT 255,430.00 1.68
Omeros Corp OMER 247,549.00 1.63
Ignyta Inc RXDX 240,825.00 1.59
Immersion Corp IMMR 239,617.93 1.58
Arch Coal Inc ARCH 200,872.00 1.32
Banco Latinoamericano BLX 188,416.00 1.24
Liberty Global PLC LILAK 184,070.00 1.21
Toro Co TTC 167,562.00 1.10
Ceva Inc CEVA 166,920.00 1.10
Instructure Inc INST 155,805.00 1.03
El Pollo Loco Hldgs LOCO 153,090.00 1.01
Chemocentryx Inc CCXI 126,140.00 0.83
Bioamber Inc BIOA 61,105.94 0.40
Tabula Rasa TRHC 31,018.40 0.20
Tearlab Warrants   0.00 0.00

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, 2017

Sector Name %
Common Stocks   95.7
Money Market Fund   3.6
Other Assets in Excess of Liabilities   0.7

 

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




Please note that the Jacob Funds referred to in this website are offered and sold only to United States residents, and the information on this website is intended only for such people. The Fund is not offered for sale in countries other than the U.S. and it territories. This website should not be considered a solicitation to buy or an offer to sell shares of the Jacob Funds in any jurisdiction where it would be unlawful under the securities law of that jurisdiction.

Each fund's investment objectives, risks, charges, expenses and other information are described in the prospectuses, which must be read and considered carefully before investing. You may download the prospectus or obtain a hard copy by calling 888-522-6239.

Mutual fund investing involves risk. Principal loss is possible.

There are risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks. Small- and Medium capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. The Internet Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.