Bernzott U.S. Small Cap Value Fund
BSCVX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Investment Managers Series Tr(Bernzott)
- IPO Date
- Oct 12, 2012
- CIK
- 0001318342
- Similar Companies
- Business
- Bernzott U.S. Small Cap Value Fund (BSCVX) is a mutual fund that seeks long-term capital appreciation by investing primarily in the common stocks of small-capitalization U.S. companies deemed undervalued and underappreciated by the broader market; under normal circumstances, the fund allocates at least 80% of its net assets, including borrowings for investment purposes, to such equities, typically holding 25 to 35 positions, and may also invest in exchange-traded funds. The fund offers exposure to small-cap value segments through a concentrated, conviction-weighted portfolio emphasizing high-quality businesses with strong balance sheets, high returns on capital, shareholder-friendly management, and significant discounts to intrinsic value. Managed by Bernzott Capital Advisors, an independent, employee-owned investment advisory firm founded in 1994 and headquartered in Camarillo, California, the fund targets institutional investors, high-net-worth individuals, and foundations primarily in the United States. The fund, part of the Investment Managers Series Trust, commenced operations on September 11, 2012, and as of mid-2025 maintains assets under management of approximately $102 million with an expense ratio of 0.95%; it focuses on bottom-up fundamental analysis within the small blend category, prioritizing financially transparent companies with recurring revenue, high margins, operating leverage, and financial flexibility. In recent developments, portfolio manager Patrick A. Fischoeder departed Bernzott Capital Advisors in 2023 to join Anchor Capital Advisors LLC, reflecting a team transition; the firm reported managing $306 million in assets as of Q1 2024, including $25 million in the U.S. Small Cap Value strategy, amid portfolio adjustments such as increased holdings in Archrock Inc. and Viper Energy Inc., and reductions in Patterson-UTI Energy Inc. and APA Corporation; latest 13F filings as of June 30, 2025, disclosed 33 equity positions valued at $196 million, underscoring ongoing active management and conviction-based positioning in a low-turnover approach.