Fund Evaluator:
Palm Valley Capital Institutional (PVCIX)
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Fund Details
Palm Valley Capital Institutional Overview
Palm Valley Capital Institutional (PVCIX) is an actively managed U.S. Equity Small Value fund. Palm Valley launched the fund in 2023.
The investment seeks to achieve long-term total return. To achieve its investment objective the fund invests primarily in a portfolio of small capitalization ("small‑cap") common stocks. It will invest primarily in U.S. common stocks of small-cap companies. The fund primarily owns common stocks, but may also invest in equity securities of real estate investment trusts ("REITs"), securities of companies involved in mining or related precious metals industries, convertible securities, and U.S. government obligations. To manage risk, the Adviser uses a flexible and opportunistic approach to the fund's cash position.
About Palm Valley Capital Institutional (PVCIX)
There are 2 members of the management team with an average tenure of 7.26 years: Eric Cinnamond (2019), Jayme Wiggins (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P SmallCap 600 TR USD index with a weighting of 100%. Palm Valley Capital Institutional has 28 securities in its portfolio. The top 10 holdings constitute 86.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Palm Valley Capital Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Palm Valley Capital Institutional has 1.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 22.9%. There is 1.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 26.9% (26.9% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Palm Valley Capital Institutional has 48.4% of the portfolio in cash.
Assets Under Management
The fund has $106 million in total assets, which is below the $417 million average for the Small Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PVCIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Palm Valley Capital Institutional expense ratio is high compared to funds in the Small Value category. Palm Valley Capital Institutional has an expense ratio of 1.01%, which is 13% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Palm Valley Capital Institutional has a portfolio turnover rate of 86%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 128% for the Small Value category.
Recently, in the month of July 2026, Palm Valley Capital Institutional returned 1.9%, which earned it a grade of A, as the Small Value category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Palm Valley Capital Institutional has a trailing yield of 3.14%, which is above the 0.77% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Palm Valley Capital Institutional Grades
Year to date, the fund has returned 4.7%, 15.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 8.0% over the past year (grade of F), 5.9% over the past three years (grade of F) and 5.1% per year over the past five years (grade of F).
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PVCIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PVCIX Return (NAV) | 1.9% | 2.3% | 8.0% | 5.9% | 5.1% | na |
| PVCIX Grade | A | F | F | F | F | na |
| +/- Category | 2.3% | -4.0% | -22.6% | -7.5% | -4.1% | na |
| Small Value Avg | -0.4% | 6.4% | 30.6% | 13.4% | 9.1% | 9.9% |
| PVCIX Tax Cost Ratio | na | na | 2.0% | na | na | na |
PVCIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PVCIX Return (NAV) | 4.7% | 4.7% | 4.6% | 9.6% | 3.2% | 3.7% | 19.1% | na | na | na | na |
| PVCIX Grade | F | D | F | F | A | F | A | na | na | na | na |
| +/- Category | -15.4% | -1.9% | -5.1% | -6.3% | 13.5% | -26.5% | 15.1% | na | na | na | na |
| Small Value Avg | 20.1% | 6.6% | 9.7% | 15.8% | -10.3% | 30.3% | 4.1% | 23.0% | -14.7% | 10.2% | 24.7% |
| Risk Measures | |
| Standard Deviation: | 3.0% |
| Total Risk Index: | 0.25 - Low |
| Category Risk Index: | 0.17 - Low |
| Category Risk Grade: | A (0% Rank) |
| Beta: | 0.11 |
| R-Squared: | 22% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $217 Mil |
| Fund Total Assets: | $ 107 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 86% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.3 years | |||
| Average Tenure: 7.3 years | |||
| Managers (Year): Cinnamond Eric (2019), Wiggins Jayme (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 28 |
| % in Top 10 Holdings: | 86.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.8% |
Portfolio Allocation |
|
| Domestic Stock: | 22.9% |
| Foreign Stock: | 1.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 26.9% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 48.4% |
Purchase Information
| Fund Family: | Palm Valley |
| Phone Number: | 888-224-7256 |
| Website: |
| Status: | Open |
| Inception Date: | October 30, 2023 |
| Min. Initial Purchase: | $500,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.17% |
| Share Class: | Palm Valley Capital Investor |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
