Palm Valley Capital (PVCMX) is live at Schwab

David_Snowball

Mr. Cinnamond just dropped a note, letting me know that they'd succeeded in getting placed on Schwab. No-load, NTF with a $100 minimum.

Assets have been growing slowly, and they're nearly $20 million according to Morningstar. They had a surge of buying during the spring panic but the rebound has forced them back to the sidelines. At the moment, about 25% small cap value, 25% T-bills and 45% cash. Mr. Cinnamond reports that "we continue to find value in areas that carry elevated career risk for most managers, like energy. So we're keeping busy even though small caps on average remain expensive, in our opinion." Up about 16% YTD (pretty much first in its category) but only 0.3% in the last three months (pretty much last in its category).

As to energy: 24% of the fund's equity exposure is energy compared with 2% for its peers. The biggest position is Helmerich & Payne. The firm owns a fleet of oil drill rigs. Natural Gas Services Group, which rents and services compressors, is the second largest energy holding.

As ever,

David

JoJo26

HP HAS NOT risen 426% since Palm Valley purchased it. That is the change in the Fund’s ownership, which has gone up because they’ve added to the position over time.

David_Snowball

Gracious. I'll fix it. Thanks!

JD_co

Looks like Mr. Cinnamond's fund was also added recently at E*Trade (NTF, only $100 min).

Jim0445

It's also available at TD Ameritrade. Have they added a 12b-1 fee of 25 basis points annually?

Charles

Very cool.