Adaptive Growth Opportunities Fund Institutional Class
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- Adaptive Growth Opportunities Fund Institutional Class (CATEX) is a mutual fund that seeks capital appreciation by investing primarily in exchange-traded funds registered under the Investment Company Act of 1940; it employs a mix of fundamental and quantitative analysis with top-down and bottom-up stock picking to target growth and value stocks across diversified market capitalizations and sectors, including large-cap, mid-cap, and small-cap equities, as well as foreign securities and emerging markets. The fund, managed by David Haviland and associated with Cavalier Investments, LLC (d/b/a Adaptive Investments) in Alpharetta, Georgia, and sub-advised by Bluestone Capital Management, LLC in Wayne, Pennsylvania, traces its inception to September 20, 2012, and operates within the U.S. mutual fund market targeting institutional and retail investors seeking equity exposure with moderate aggressive risk profiles benchmarked against indices such as the Morningstar Moderate Aggressive Target Risk TR Index and MSCI ACWI Index. In a significant strategic shift, the fund's assets, performance history, and operations were acquired effective May 7, 2021, by the Adaptive Growth Opportunities ETF (NASDAQ: AGOX), launched under Starboard Investment Trust with substantially similar investment objectives, strategies, and portfolio management team, reflecting a conversion from mutual fund to ETF structure to enhance liquidity and trading flexibility. This transition incorporated the predecessor fund's historical data, including annualized returns through inception exceeding benchmarks in multiple periods, while maintaining total annual operating expenses around 1.55%, encompassing management fees, acquired fund fees, and other costs. The fund discloses holdings via SEC N-PORT filings, with approximately 30 positions in recent reports, and distributes through Capital Investment Group, Inc., without noted recent partnerships, funding rounds, or additional product launches beyond the ETF conversion.