Fund Evaluator:
13D Activist A (DDDAX)
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Fund Details
13D Activist A Overview
13D Activist A (DDDAX) is an actively managed U.S. Equity Small Blend fund. 13D Activist Fund launched the fund in 2011.
The investment seeks capital appreciation. The fund seeks to achieve the fund’s investment objective by investing primarily in common stocks of U.S. and foreign companies of any market capitalization that are the target of shareholder activism. It is non-diversified.
About 13D Activist A (DDDAX)
There are 1 members of the management team with an average tenure of 14.52 years: Ken Squire (2011). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 2500 TR USD index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. 13D Activist A has 26 securities in its portfolio. The top 10 holdings constitute 64.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
13D Activist A is part of the Equity global asset class and is within the U.S. Equity fund group. 13D Activist A has 34.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 57.1%. There is 34.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). 13D Activist A has 8.1% of the portfolio in cash.
Assets Under Management
The fund has $17 million in total assets, which is below the $694 million average for the Small Blend 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.
DDDAX 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 13D Activist A expense ratio is high compared to funds in the Small Blend category. 13D Activist A has an expense ratio of 1.76%, which is 68% higher than its category average, making the fund expense ratio grade a F. 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. 13D Activist A has a portfolio turnover rate of 88%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Small Blend category.
Recently, in the month of June 2026, 13D Activist A returned 4.6%, which earned it a grade of D, as the Small Blend category had an average return of 5.9%. 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.
13D Activist A has a trailing yield of 0.00%, which is below the 0.41% 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.
13D Activist A Grades
Year to date, the fund has returned 32.8%, 11.1 percentage points better than the category, which translates into a grade of A. The fund has returned 45.0% over the past year (grade of A), 13.6% over the past three years (grade of D) and 4.8% per year over the past five years (grade of F) and 10.6% per year over the past 10 years (grade of D).
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DDDAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DDDAX Return (NAV) | 4.6% | 32.6% | 45.0% | 13.6% | 4.8% | 10.6% |
| DDDAX Grade | D | A | A | D | F | D |
| +/- Category | -1.3% | 12.8% | 11.1% | -2.8% | -3.1% | -0.6% |
| Small Blend Avg | 5.9% | 19.8% | 33.9% | 16.4% | 7.9% | 11.2% |
| DDDAX Tax Cost Ratio | na | na | 1.1% | 1.1% | 1.6% | 1.3% |
DDDAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DDDAX Return (NAV) | 32.8% | 2.8% | 1.4% | 10.6% | -17.7% | 19.3% | 18.7% | 26.8% | -13.7% | 23.4% | 19.3% |
| DDDAX Grade | A | F | F | F | D | D | B | B | D | A | D |
| +/- Category | 11.1% | -5.1% | -10.1% | -5.9% | -1.2% | -4.0% | 4.3% | 1.3% | -1.9% | 9.4% | -1.0% |
| Small Blend Avg | 21.7% | 7.9% | 11.6% | 16.5% | -16.5% | 23.2% | 14.4% | 25.5% | -11.8% | 14.1% | 20.2% |
| Risk Measures | |
| Standard Deviation: | 20.0% |
| Total Risk Index: | 1.64 - High |
| Category Risk Index: | 1.08 - High |
| Category Risk Grade: | F (88% Rank) |
| Beta: | 1.16 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $115 Mil |
| Fund Total Assets: | $ 18 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 88% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 14.5 years | |||
| Average Tenure: 14.5 years | |||
| Managers (Year): Squire Ken (2011) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 26 |
| % in Top 10 Holdings: | 64.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 34.7% |
Portfolio Allocation |
|
| Domestic Stock: | 57.1% |
| Foreign Stock: | 34.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 8.1% |
Purchase Information
| Fund Family: | 13D Activist Fund |
| Phone Number: | 877-413-3228 |
| Website: | www.13DActivistFund.com |
| Status: | Open |
| Inception Date: | December 28, 2011 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.76% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | 13D Activist I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
