FMCX is an actively managed ETF that seeks to invest in the highest-conviction ideas of First Manhattan Co.'s research team.
First Manhattan, an independently owned and operated investment advisory firm, is the investment advisor to FMCX. First Manhattan has more than six decades of fundamental, research-based investing experience.
Why Invest in FMCX?
- Research-intensive, bottom-up fundamental stock selection
- Long-term positions with low expected turnover
- Focused portfolio of 25-30 U.S. publicly traded equities
- A business owner's mindset and engagement with portfolio companies
Overview
Fund | FMCX |
---|---|
Key Information | 07/01/2022 |
Inception Date | 04/25/2022 |
Gross Expense Ratio | 0.70% |
Net Assets | $68,678,089 |
NAV | $22.48 |
Style | Active |
Asset Class | Equities |
Benchmark | S&P 500 |
Intraday NAV Ticker | FMCX.IV |
As of 03/31/2022
Fund | FMCX |
---|---|
Trading Details | 07/01/2022 |
Ticker | FMCX |
CUSIP | 66538H211 |
Primary Exchange | NYSE Arca |
Shares Outstanding | 3,055,000 |
Market Closing Price | $22.45 |
Premium/Discount | -0.03% |
30-Day Median Bid Ask Spread | 0.32% |
Objective
FMCX favors long-term holdings in companies believed to:
- Possess durable competitive advantages
- Earn higher-than-average returns on capital
- Treat shareholders like partners
- Have opportunities to reinvest excess cash profits at attractive rates of return
Distributions | - |
---|---|
30-Day SEC Yield | - |
Distribution Frequency | Quarterly |
Performance
Inception Date: 04/25/2022
Trailing Returns | NAV Returns | Market Returns |
---|---|---|
YTD | -11.04% | -11.12% |
1 Month | -7.80% | -7.96% |
3 Months | – | – |
6 Months | – | – |
1 Year | – | – |
3 Years (Annualized) | – | – |
5 Years (Annualized) | – | – |
Since Inception (Annualized) | -11.04% | -11.12% |
Since Inception (Cumulative) | -11.04% | -11.12% |
Short-term performance, in particular, is not a good indication of the Fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.
Trailing Returns | NAV Return | Market Return |
---|---|---|
YTD | -11.04% | -11.12% |
3 Months | – | – |
6 Months | – | – |
1 Year | – | – |
3 Years (Annualized) | – | – |
5 Years (Annualized) | – | – |
Since Inception (Annualized) | -11.04% | -11.12% |
Since Inception (Cumulative) | -11.04% | -11.12% |
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 may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 888.530.2448.
Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.
NAV Return represents the closing price of underlying securities.
Market Return is calculated using the price which investors buy and sell ETF shares in the market.
Composition
Data as of | Top 10 Holdings | Ticker | Shares Held | Holdings Updated Quarterly + 60-Day lag |
---|---|---|---|---|
07/01/2022 | KKR & CO INC-A | KKR | 97,901.00 | 6.66% |
07/01/2022 | UNITEDHEALTH GRP | UNH | 7,972.00 | 6.00% |
07/01/2022 | APPLE INC | AAPL | 25,949.00 | 5.25% |
07/01/2022 | BROOKFIELD ASS-A | BAM | 79,784.00 | 5.23% |
07/01/2022 | MICROSOFT CORP | MSFT | 13,396.00 | 5.06% |
07/01/2022 | BERKSHIRE HATH-A | BRK/A | 8.00 | 4.84% |
07/01/2022 | AMAZON.COM INC | AMZN | 26,580.00 | 4.24% |
07/01/2022 | STARBUCKS CORP | SBUX | 35,870.00 | 4.14% |
07/01/2022 | IAC/INTERACTIVEC | IAC | 36,296.00 | 4.05% |
07/01/2022 | O'REILLY AUTOMOT | ORLY | 4,376.00 | 4.05% |
Data as of | Top 10 Holdings | Ticker | Shares Held | Holdings Updated Quarterly + 60 Day lag |
---|---|---|---|---|
- | - | 0.00 | - |
As a percent of total assets. The top ten holdings, industry sectors, and asset allocation are presented to illustrate examples of the securities that the Fund has bought and the diversity of areas in which the Fund may invest and may not be representative of the Fund’s current or future investments. The top ten holdings do not include money market instruments. Portfolio holdings are subject to change and should not be considered investment advice.
wdt_ID | Empty Column | Information | Data |
---|---|---|---|
2 | Sector 1 | X.XX% | |
3 | Sector 2 | X.XX% | |
4 | Sector 3 | X.XX% | |
5 | Sector 4 | X.XX% | |
6 | Sector 5 | X.XX% | |
7 | Sector 6 | X.XX% | |
8 | Sector 7 | X.XX% | |
9 | Sector 8 | X.XX% |
Literature
How to Buy
FMCX trades intraday on an exchange and is available through various channels, including broker-dealers, investment advisers, and other financial services firms.
Neither First Manhattan Co. nor Northern Lights Distributor, LLC is affiliated with the firms listed. Their listing should not be viewed as a recommendation or endorsement.