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INVESTMENT GOAL:

To achieve an attractive absolute return over a full market cycle.

Investing for

  • Risk defined as losing money

  • Flexible mandate allows for patience

  • No sector constraints

  • Elevated career risk

  • Independent; unique

  • Fiduciary duty uninhibited

  • Risk = underperforming benchmark

  • Cash constraints & fully-invested mandates

  • Sector constraints

  • Limited career risk

  • Consensus; similar

  • Conflict between mandate and fiduciary duty

Absolute Returns

Relative Returns

vs.

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Full Market Cycle

A full market cycle consists of both a bull and a bear market.  A full market cycle occurred from October 9, 2002, through March 9, 2009.  During March 2020, the S&P 500 Index declined by more than 20% from its February 19, 2020, peak, which technically qualified as a bear market to many investors.  However, the downturn was extremely short-lived and modest in comparison to the preceding bull market.  We would not classify the 2020 pullback as a bear market.

S&P 500 FMC.jpg

Definitions

S&P 500: The Standard & Poor's 500 is an American stock market index based on the market capitalizations of 500 large companies.  It is not possible to invest directly in an index.  

© 2025 by Palm Valley Capital Management

Relationship Summary (Form CRS)

Palm Valley Capital Fund Prospectus

Proxy Votes (Form N-PX)

Privacy Policy

Mutual fund investing involves risk.  Principal loss is possible.  The Palm Valley Capital Fund invests in smaller sized companies, which involve additional risks such as limited liquidity and greater volatility than large capitalization companies.  The ability of the Fund to meet its investment objective may be limited to the extent it holds assets in cash (or cash equivalents) or is otherwise uninvested.

 

The Palm Valley Capital Fund is offered only to United States residents, and information on this web site is intended only for such persons. Nothing on the web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

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The Palm Valley Capital Fund is distributed by Quasar Distributors, LLC.

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Availability of Additional Information

The Palm Valley Capital Fund's investment objectives, risks, charges and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the investment company, and it may be obtained by calling 904-747-2345, or clicking here.  Read it carefully before investing.​

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