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Jacob Internet Fund

Fund Overview

Ticker:
JAMFX
Fact Sheet:
Investment Category:

Technology

Objective:

Long-term growth of capital with current income as secondary objective.

Investment Minimums:

Initial minimum investment of $2500. For IRA, UGMA, 401k, other retirement accounts, and accounts establising an Automatic Investment Plan, the minimum investment is $1000.

Investment Strategy:

The Jacob Internet Fund seeks to provide its investors with above average total returns from a select group of companies within the Internet and technology sector that the Fund believes has significant growth potential. To achieve this goal, the Fund looks to own companies with, in their opinion, sustainable competitive advantages that may allow them to generate above average returns on capital over long periods of time. Furthermore, it strives to acquire the shares of these companies at reasonable prices. It is the Fund’s goal that the financial rewards to the shareholder should reflect the company’s strong economic performance.

Daily NAV

09/24/2021
Ticker
JAMFX
JSCGX
JSIGX
JMCGX
JMIGX
NAV
$10.80
$41.29
$42.46
$40.09
$44.33
$ Change
-0.10
-0.47
-0.48
-0.56
-0.62
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The portfolio managers follow a three-step process to identify and monitor the Fund's investments:

Find

The first step in our investment process is to narrow down the seemingly infinite universe of possibilities and to focus on what we feel are the most attractive opportunities. Accomplishing this step is no easy task. It requires countless hours of research - scouring the Web, reading analyst reports, running quantitative screens, attending conferences, speaking to executives - all in an attempt to find those relatively rare nuggets worth looking into more closely. Sometimes those nuggets are individual companies, and sometimes they are broader themes that can open up a wide range of potential investments.

Filter

Once we find an intriguing investment idea, we then deploy a thorough qualitative and quantitative review process to determine if the opportunity is as attractive as it appears and can be had at a fair price. Very few of our ideas that we uncover end up being part of our concentrated portfolios.

Ideally, we are looking for companies that operate in large markets in which there are significant barriers to entry, enjoy what we believe is a strong competitive position with growing market share, and boast capable management teams with proven track records. We want the companies to have unique assets - such as proprietary technologies or unusually loyal customers - with the possibility that positive near-term catalysts could drive the value of our investment higher.

If everything looks good qualitatively, we turn our focus to valuation. We evaluate many different quantitative criteria including cash flows, income statement and balance sheet items. We determine what a company is likely to generate in sales and profits for the coming years and then, using several different metrics, calculate a fair valuation based on those estimates.

Of course, we also consider the biggest risks to each company's outlook and gauge the likelihood that these potential pitfalls could derail the investment thesis.

Follow-Up

Once we add an investment to one of our portfolios, we continue to monitor the position closely, making sure that our original analysis remains valid. We will often rebalance or potentially exit a position if the risk/reward ratio for the investment changes materially. We also conduct detailed portfolio reviews on a regular basis.


There are specific risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

Total Returns as of Quarter-End (06/30/2021)
Quarter YTD 1 Year 3 Years 5 Years 10 Years
Jacob Internet Fund -1.34% 27.37% 128.35% 44.63% 35.61% 22.03%
Nasdaq Composite 9.68% 12.92% 45.23% 25.72% 25.80% 19.32%
S&P 500 Index 8.55% 15.25% 40.79% 18.67% 17.65% 14.84%

Inception Date: 12/14/1999
Expense Ratio: Gross 2.43%

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-522-6939.

The fund imposes a 2.00% redemption fee on shares held less than 30 days. Performance data does not reflect the redemption fee. If reflected, returns would be lower. The fund imposes neither a maximum sales charge on purchases nor a maximum deferred sales charge.

Investment performance reflects fee waivers. In the absence of these waivers returns would be reduced.


There are specific risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of Internet stocks. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. The NASDAQ Composite Index is a market capitalization-weighted index that is designed to represent the performance of the National Market System which includes over 5,000 stocks traded only over-the-counter and not on an exchange. You cannot invest directly in an index.

Fund Holdings as of July 31, 2021

Company Symbol Market Value Shares % of Net Assets
OPTIMIZERX CORP OPRX $11,235,009.25 203,275 6.54%
TWITTER INC TWTR $10,484,610.75 150,317 6.10%
DIGITAL TURBINE INC APPS $10,417,973.20 165,496 6.06%
MONGODB INC MDB $10,408,680.00 29,000 6.06%
TWILIO INC TWLO $9,040,878.00 24,200 5.26%
VOYAGER DIGITAL LTD VYGVF $8,892,280.00 655,000 5.18%
SQUARE INC SQ $8,406,840.00 34,000 4.89%
ZILLOW GROUP INC Z $7,616,185.50 71,675 4.43%
MOMENTIVE GLOBAL INC MNTV $6,841,800.00 325,800 3.98%
SILVERGATE CAP CORP SI $6,746,250.00 65,625 3.93%
YELP INC YELP $6,589,880.00 176,200 3.84%
INSPIRED ENTMT INC INSE $5,615,853.37 484,543 3.27%
IDENTIV INC INVE $5,433,059.28 333,726 3.16%
SOHU COM LTD SOHU $5,245,521.04 263,992 3.05%
PORCH GROUP INC PRCH $4,743,680.00 256,000 2.76%
IMPINJ INC PI $4,613,800.00 100,300 2.69%
TELOS CORP MD TLS $4,441,170.00 158,500 2.58%
SHARPSPRING INC SHSP $4,227,400.83 248,817 2.46%
FACEBOOK INC FB $4,204,340.00 11,800 2.45%
ALPHABET INC GOOG $4,056,630.00 1,500 2.36%
CANTALOUPE INC CTLP $3,794,780.00 367,000 2.21%
TABULA RASA HEALTHCARE INC TRHC $3,716,040.00 86,500 2.16%
POWERFLEET INC PWFL $2,763,089.40 405,740 1.61%
IMMERSION CORP IMMR $2,138,807.16 282,911 1.24%
ZOVIO INC ZVO $2,021,250.00 825,000 1.18%

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.

By clicking on the company names, you will be leaving the Jacob Funds website and will be entering a third-party website. Jacob Funds is not responsible for, nor can guarantee, the accuracy of any information contained on a third party site.

There are risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks. Small- and Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. The Internet Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

Please refer to the linked fund fact sheet for a current breakdown of the fund's sector allocation.

Sectors as of August 31, 2017

Sector Name %
Common Stocks 93.7
Money Market Fund   4.3
Other Assets in Excess of Liabilities   2.0

 

Fund holdings and sector allocations are subject to change and are not a recommendation to buy or sell any security.

There are specific risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks. Investments in foreign securities involve greater volatility and political, economic and currency risks, and differences in accounting methods. These risks are greater in emerging markets.

Automatic Investment Plans do not assure a profit and do not protect against a loss in declining markets.

JACOB FUNDS




Please note that the Jacob Funds referred to in this website are offered and sold only to United States residents, and the information on this website is intended only for such people. The Fund is not offered for sale in countries other than the U.S. and its territories. This website should not be considered a solicitation to buy or an offer to sell shares of the Jacob Funds in any jurisdiction where it would be unlawful under the securities law of that jurisdiction.

Important Risk Information

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found by the Mutual Funds Prospectus and ETF Prospectus or calling 888.522.6239 for a hard copy. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

There are risks inherent in investing in the Internet area, particularly with respect to smaller capitalized companies and the high volatility of internet stocks.

Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors.

The Internet Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in micro-capitalization companies may involve greater risks, as these companies tend to have limited product lines, markets and financial or managerial resources. Microcap stocks often also have a more limited trading market, such that the Adviser may not be able to sell stocks at an optimal time or price. In addition, less frequently-traded securities may be subject to more abrupt price movements than securities of larger capitalized companies. The Small Cap Growth Fund invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility.

The Jacob Forward ETF also has the following risks: Market or economic factors impacting information technology companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The risks of investing in foreign companies, including those located in emerging market countries, can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, including recordkeeping standards, and less stringent regulation of securities markets.

The Fund is actively managed. An investment in the Fund is subject to the risk that the investment techniques and risk analyses applied by the Adviser will not produce the desired results. The Fund is a recently organized investment company with a limited operating history. Please see the Funds' prospectus for details of these and other risks.

Jacob Forward ETF has the same risks as the underlying securities traded on the exchange throughout the day. Redemptions are limited and often commissions are charged on every trade.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns.

Diversification does not eliminate the risk of experiencing investment loss.

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