Overview

Investment philosophy / process

  • Search for companies with attractive Private Market Value, or PMV (the price an informed industrialist would pay for the entire company) with a CatalystTM, an event to surface the value of the company
  • Utilize Columbia University professors Benjamin Graham and David Dodd's "Margin of Safety" concept – by investing in securities with a material difference between their market and estimated intrinsic values
  • Seek to buy reasonably-priced and strong franchises within GAMCO's circle of competence

Fund details

Class A Class I Class R
Net asset value as of
Daily change $
Daily change %
Status Open Open Open
Ticker
CUSIP
ISIN US68246A1088 US68246A3068 US68246A4058
Investment minimum* $1,000 for all accounts except:
  • $500 for certain fee-based programs
  • $500, if establishing an Automatic Bank Draft Plan
  • $250 minimum for purchases by accounts through eligible financial intermediary platforms that have entered into selling or service agreements with the Distributor and that are eligible to purchase Class A shares without a sales charge
  • No minimum for certain employer-sponsored retirement plans and certain wrap fee based programs
$1,000,000 for certain institutions and individuals
  • $1,000 for certain employees (or their immediate family members) of Equitable Financial or its subsidiaries
  • Class I shares are available to clients of registered investment advisers who have $250,000 invested in the Fund
  • No minimum investment for a wrap account client of an eligible broker-dealer or a client of a fee-based planner that is unaffiliated with a broker-dealer
No minimum
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*Read the Prospectus for more information

Fund objective

Seeks to maximize capital appreciation.

How the Fund invests

Under normal circumstances, the Fund intends to invest at least 80% of its net assets, plus borrowings for investment purposes, in securities of small- and mid-capitalization companies. For the Fund, small-capitalization companies generally are companies with a market capitalization less than $3 billion at the time of investment, and mid-capitalization companies generally are companies with a market capitalization between $3 billion and $12 billion at the time of investment.

A small- and mid-capitalization strategy from well-known stock picker Mario Gabelli

How the Fund Invests

Portfolio manager

CFA is a registered trademark of the CFA Institute.

Holdings

Top 15 holdings

Security Weight %

The top holdings listed exclude cash and cash equivalents. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security.

1quarter holdings are based on the fiscal year


Performance

Daily performance as of

Total returns
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Monthly performance as of

Total returns
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Quarterly performance as of

Total returns
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Statistics

Risk Measures and Statistics:

Source: Equitable Investment Management and Morningstar Inc. Past performance is no indication of future results.

See definitions here.

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Morningstar Rating: category as of

Overall 3 year 5 year
Rating
# of funds
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Overall Morningstar Rating as of based on risk-adjusted returns (I share).

Morningstar category ranking as of

rank percentile Morningstar RatingTM Out of # of funds
1 year
3 year
5 year
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As of , for class I shares (). Other share classes may have different ratings. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. The Morningstar percentile ranking is based on the fund’s total-return percentile rank relative to all managed products that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total return includes both income and capital gains or losses and is not adjusted for sales charges.


Expense ratios as of

Fund Gross expense ratio Net expense ratio4
Class A shares
Class I shares
Class R shares

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (855) 379-9186.

One cannot invest directly in an index.

Returns for periods of less than one year are not annualized.

1Fund inception date of November 12, 2014.

2Maximum Offering Price (MOP) for Class A shares includes the Fund's maximum sales charge of 5.50%. Performance shown at NAV does not include these sales charges and would have been lower had it been taken into account.

3Russell 2500 Value: An unmanaged index which contains those Russell 2500 securities (the bottom 500 securities in the Russell 1000 Index and all 2,000 securities in the Russell 2000 Index) with a less-than-average growth orientation.

4Pursuant to a contract, Equitable Investment Management, LLC (the “Adviser”) has agreed to make payments or waive its and its affiliates’ management, administrative and other fees to limit the expenses of the Fund through April 30, 2025 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), 12b-1 fees, dividend and interest expenses on securities sold short, and extraordinary expenses not incurred in the ordinary course of the Fund’s business) do not exceed an annual rate of average daily net assets of 0.95% for Class A shares, Class T shares, Class I shares, and Class R shares of the Fund. The Expense Limitation Arrangement may be terminated by the Adviser at any time after April 30, 2025. The Adviser may be reimbursed the amount of any such payments or waivers in the future provided that the payments or waivers are reimbursed within three years of the payments or waivers being recorded and the Fund’s expense ratio, after the reimbursement is taken into account, does not exceed the Fund’s expense cap at the time of the waiver or the Fund’s expense cap at the time of the reimbursement, whichever is lower. The total annual fund operating expense ratios after fee waiver and/or expense reimbursement for Class A shares, Class T shares, and Class R shares, as shown in the table, are higher than the Fund’s expense cap because these ratios include 12b-1 fees and certain other expenses, as noted above, that are excluded from the Expense Limitation Arrangement.


Distributions

Print Distributions
Class Record date Ex-date Payable date Ordinary income Short-term capital gain Long-term capital gain Total
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Distributions data is unavailable at this time.
Fund resources

Risks: Market. The Fund is subject to the risk that the securities markets will move down, sometimes rapidly and unpredictably, based on overall economic conditions and other factors, which may negatively affect Fund performance. The value of a security can be more volatile than the market as a whole and can perform differently from the market as a whole. Any issuer of securities may perform poorly, causing the value of its securities to decline. Poor performance may be caused by a variety of factors. Equity. In general, the values of stocks and other equity securities fluctuate, and sometimes widely fluctuate, in response to changes in a company’s financial condition as well as general market, economic and political conditions and other factors. Mid-/Small-Cap. Mid-cap and small-cap companies carry additional risks because the operating histories of these companies tend to be more limited, their earnings and revenues less predictable, and their share prices more volatile than those of larger, more established companies. Investment Style. The Fund may use a particular style or set of styles - in this case, a “value” style - to select investments. Value stocks are subject to the risks that the stock’s full value may never be fully recognized or realized by the market, or its price may go down. Sector. From time to time, based on market or economic conditions, the Fund may have significant positions in one or more sectors of the market. To the extent the Fund invests more heavily in particular sectors, its performance will be especially sensitive to developments that significantly affect those sectors. Portfolio Management. The Fund is subject to the risk that strategies used by an investment manager and its securities selections fail to produce the intended results. Foreign Securities. Investments in foreign securities involve risks in addition to those associated with investments in U.S. securities. Foreign markets may be less liquid, more volatile and subject to less government supervision and regulation than U.S. markets.

cont

Contact us

Personal investors:
(888) 310-0416

Financial professionals:
(855) 379-9186

To obtain a prospectus:
1290Funds@DFINsolutions.com

Media inquiries:
Equitable US Media Relations
MediaRelations@equitable.com

Financial professionals: contact us for more info

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