Pin Oak Equity Fund

Investment Goal

Pin Oak Equity Fund seeks long-term capital growth by concentrating investments in stocks the manager believes are underappreciated by the market, irrespective of market capitalization.

Investment Approach

Pin Oak is a concentrated mutual fund that invests primarily in common stocks of U.S. companies within a wide range of market capitalizations, focusing on the manager’s best ideas within a limited number of sectors. As a result, the Fund may own stocks of smaller capitalization companies. Aware of the pitfalls of, and empirical evidence against, rapid turnover, the manager adheres to a long-term approach. In addition, despite the focus on growth stocks, the manager incorporates the idea of fundamental value into his analysis, searching for opportunities that not only offer potential for growth in sales and earnings, but which are underappreciated by the market. This value can present itself not only in the traditional form of various quantitative metrics, but also in the form of a superior business model. Industry weightings and stock selection are based on fundamental analysis and an assessment of a stock’s risk-reward.

The investment process begins with an analysis of the economy and various macroeconomic factors, followed by an evaluation of industry sectors. It then focuses on the most attractive companies in these areas based on qualitative and quantitative factors. The manager’s investment approach is highly disciplined, employing a consistent investment strategy and growth style. On the occasion that the market works against the Fund’s style, the manager does not chase performance by playing yesterday’s winners – a discipline that we believe leads to outperformance over the long-term. Behavioral finance plays a large role in the management of the Fund, as does the disparity in time horizon between the manager and the increasingly short-term oriented market. The manager often makes calculated bets, buying where fear is high and selling or avoiding areas or stocks that the market is pricing too dearly. The manager believes that having the conviction, experience and confidence to go against the crowd is integral to long-term outperformance.

Portfolio Manager

Mark W. Oelschlager, CFA >>


Quarterly Factsheet

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Portfolio Holdings

As of June 30, 2017
Total Holdings 37
Total Fund Assets $231 million
Alphabet, Inc.GOOG
Alphabet, Inc. - Class AGOOGL, Inc.AMZN
Amdocs, Ltd.DOX
Assurant, Inc.AIZ
Bank of New York Mellon Corp.BK
Capital One Financial Corp.COF
Charles Schwab Corp.SCHW
CIT Group, Inc.CIT
DaVita HealthCare Partners, Inc.DVA
eBay, Inc.EBAY
Everest Re Group, Ltd.RE
Flex, Ltd.FLEX
Gentex Corp.GNTX
GlaxoSmithKline PLCGSK
Great Southern Bancorp, Inc.GSBC
Hanesbrands, Inc.HBI
International Bancshares Corp.IBOC
Interpublic Group of Cos., Inc.IPG
KLA-Tencor Corp.KLAC
McKesson Corp.MCK
Nabors Industries, Ltd.NBR
Parker-Hannifin Corp.PH
Paychex, Inc.PAYX
PepsiCo, Inc.PEP
SunTrust Banks, Inc.STI
Teck Resources, Ltd.TECK
Transocean, Ltd.RIG
Travelers Cos., Inc.TRV
Twenty-First Century Fox, Inc.FOX
Us DollarsUSD
Valero Energy Corp.VLO
Wells Fargo & Co.WFC
Western Union Co.WU
Xilinx, Inc.XLNX

The aggregate percentage
of the top 10 holdings is: 40.44%

Fund Data

Ticker Symbol POGSX
Minimum Investment $2,000
Min. Subsequent Investment $25
Load None
Cusip 671081206
Net Expense Ratio 1.08%
Gross Expense Ratio 1.08%

Daily Performance

As of February 16, 2018
Share Price $68.49   
Change $0.15   
As of February 16, 2018
Year-to-Date Performance 3.99%

Monthly Performance

As of December 31, 2017
1 Year 15.16%
3 Year 12.81%
5 Year 16.40%
10 Year 11.27%
Since Inception 8.30%
Inception Date August 3, 1992

Quarterly Performance

As of December 31, 2017
1 Year 15.16%
3 Year 12.81%
5 Year 16.40%
10 Year 11.27%
Since Inception 8.30%
Inception Date August 3, 1992

The 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 and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, please click on the individual fund name in the Fund Center on the homepage or call 1-888-462-5386. Holdings are subject to change. Investments in smaller companies typically exhibit higher volatility.

All returns for periods greater than one year are annualized. If the Fund is less than 1 year old, cumulative since inception returns are shown. If the Fund is less than 10 years old, annualized return since inception is shown. All year-to-date returns are cumulative.