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At nearly 4,800 years old, a Bristlecone pine named Methuselah is the oldest living organism on earth. Found at high altitudes on rocky mountainsides, Bristlecone pines have survived the ravages of time by adapting to harsh conditions. By investing in financially sound, well-managed companies trading at a discount, we believe the Bristlecone Fund, like its namesake, is designed to weather even the toughest climates.
Consider the Bristlecone Fund if you are:
- Truly long-term oriented (5 years or more)
- Seeking a go anywhere, opportunistic, value manager
- Comfortable investing against the crowd
The Bristlecone Fund seeks long-term capital appreciation by investing in a focused portfolio of undervalued securities.
"Investment is most intelligent when it is most businesslike." - Benjamin Graham
The Fund is managed according to three core principles:
We investigate a broad range of investment opportunities, without regard for size or geographic constraints, to find companies worthy of our shareholders' capital. We do our own research to thoroughly understand the economic drivers of a potential investment, its competitive environment, the quality of its balance sheet, and the skill of its management in allocating capital. We believe the investment process is intellectually sound and executed with discipline and patience with the potential to garner long-term benefits.
When we invest shareholder capital, we aim to get more than what we pay for. We try to maximize the odds of making a profit, and reduce those of losing capital, by paying a price significantly lower than our assessment of the value of the underlying business. This price-to-value discount—Benjamin Graham’s “margin of safety”—is a basic tenet of value investing.
We invest within our circle of competence
and concentrate our investments in our best
ideas. Having a thorough understanding of
what we own gives us the conviction to go
against the crowd and buy or hold during
difficult periods.
Please refer to the prospectus for important information about the investment company including objectives, risks, charges, and expenses. Read and consider it carefully before investing. You may also obtain a hard copy of the prospectus by calling (877) 5BRISTLE or (877) 527-4785.
Mutual fund investing involves risk. Principal loss is possible. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.
The Bristlecone Fund is offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.
The Bristlecone Fund is distributed by Quasar Distributors, LLC.
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