CLARKSTON FOUNDERS FUND, Institutional Class
CIMDX
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- Clarkston Founders Fund Institutional Class (CIMDX) is a mutual fund that primarily invests in U.S.-traded equity securities of medium-market capitalization companies to achieve long-term capital appreciation while minimizing volatility and risk. Advised by Clarkston Capital Partners LLC, the fund follows a Quality Value investment philosophy, targeting high-quality companies with favorable profitability metrics, sustainable competitive advantages, capable management teams, and undervaluation relative to expected long-term free cash flows; it is non-diversified, permitting significant concentration in a small number of issuers, with market capitalizations generally within the range of the Russell Midcap Index at purchase. Share classes include Institutional (CIMDX, inception January 31, 2017, net expense ratio 0.95%) and Founders (CFMDX, inception February 16, 2021, net expense ratio 0.80%), distributed by ALPS Distributors, Inc., with total net assets of approximately $775 million as of September 30, 2024. Clarkston Capital Partners LLC, founded in 2004 and headquartered in Bloomfield Hills, Michigan, with additional offices in Rochester, Michigan, and Arizona, manages the fund alongside related strategies like the Clarkston Partners Fund. As of December 31, 2024, top holdings include U.S. Bank MMDA (10.70%), Post Holdings, Inc. (7.85%), Clarivate Plc (7.21%), FedEx Corporation (4.44%), Molson Coors Beverage Company (4.38%), and Warner Bros. Discovery, Inc. (4.17%), spanning sectors such as consumer goods, transportation, media, and environmental services. The fund reported no material changes, including no acquisitions, partnerships, funding rounds, new product launches, strategic shifts, name changes, or significant operational alterations, during the fiscal year ended September 30, 2024, with a low portfolio turnover rate of 17%. Through January 31, 2026, Clarkston Capital has contractually agreed to limit total annual fund operating expenses (exclusive of certain items) to 0.80% for both classes .