Emerald Growth Fund Class A
HSPGX
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- Emerald Growth Fund Class A (HSPGX) is an open-end mutual fund that seeks long-term growth through capital appreciation by investing primarily in equity securities, including common stocks, preferred stocks, and securities convertible into common or preferred stocks of companies from a wide range of industries and various sizes, with a focus on smaller companies defined as those having market capitalizations equal to or less than the largest companies in the Russell 2000 Index. The fund emphasizes companies with perceived leadership positions and competitive advantages in niche markets, maintaining a portfolio of approximately 121 holdings as of recent data, with top positions including F/M Emerald Life Sciences Innovation ETF (LFSC) at 5.70%, Credo Technology Group Holding Ltd (CRDO) at 2.51%, Palomar Holdings, Inc. (PLMR) at 2.43%, and Kratos Defense & Security Solutions, Inc. (KTOS) at 2.32%; it features an expense ratio of 1.10%, turnover of 51%, and assets under management of approximately $888.7 million. Class A shares carry a front-end load of up to 4.75% and a minimum initial investment of $2,000, targeting individual and institutional investors seeking exposure to the small growth category. The fund is managed by Emerald Advisers, LLC, an independent investment management firm founded in 1991 and headquartered in Leola, Pennsylvania, which provides active U.S. domestic equity portfolio management services to institutional and individual investors through separate accounts and affiliated mutual funds; key portfolio managers include Kenneth G. Mertz, Chief Investment Officer and President since 1992, Joseph Garner, Director of Research, and Stacey L. Sears, Senior Vice President. Emerald Advisers employs a research-driven process emphasizing small-cap growth opportunities across sectors such as business services, capital goods, consumer, financial services, technology, life sciences, industrials, and defense. In recent developments, Emerald Advisers, in partnership with F/m Investments, launched the F/m Emerald Special Situations ETF (SPIT) in October 2025, expanding its offerings into actively managed ETFs focused on special situations; the firm continues to maintain a Bronze Morningstar Medalist Rating underpinned by its strong management team and sound investment process. The HSPGX fund itself reported a 1-year return of 21.93%, 5-year return of 59.41%, and YTD return of 8.00% as of late 2025, with a recent ex-dividend date of December 18, 2024, reflecting semi-annual payouts and a TTM yield of 2.74%. Operations remain centered in the United States, with no reported acquisitions, major reorganizations, or geographic expansions for the fund or adviser in the last 1-2 years beyond the ETF launch.