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Concorde Wealth Management Fund
mutual fund
CONWX
Payout Change
Pending
Price as of:
$17.79
-0.06
-0.34%
primary theme
U.S. Balanced Allocation
share class
CONWX (Mutual Fund)
Concorde Wealth Management Fund
Payout Change
Pending
Price as of:
$17.79
-0.06
-0.34%
primary theme
U.S. Balanced Allocation
share class
CONWX (Mutual Fund)
Concorde Wealth Management Fund
Payout Change
Pending
Price as of:
$17.79
-0.06
-0.34%
primary theme
U.S. Balanced Allocation
share class
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
13.7%
1 yr return
13.7%
3 Yr Avg Return
3.6%
5 Yr Avg Return
7.6%
Net Assets
$37 M
Holdings in Top 10
36.7%
52 WEEK LOW AND HIGH
$17.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.56%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 12.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CONWX - Profile
Distributions
- YTD Total Return 13.7%
- 3 Yr Annualized Total Return 3.6%
- 5 Yr Annualized Total Return 7.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.32%
- Dividend Yield 1.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameConcorde Wealth Management Fund
-
Fund Family NameConcorde
-
Inception DateJul 25, 2016
-
Shares Outstanding2053825
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGary Wood
Fund Description
Under normal conditions, the FUND invests primarily in a portfolio of (i) equity securities that the FUND believes are undervalued, (ii) debt securities that offer appropriate current returns that are commensurate with related risks and (iii) private equity, based on risk and return attributes as dictated by broad market and economic conditions. The FUND may invest in other investment companies or pooled vehicles that are consistent with these characteristics. Investing in both public and non-public securities, which collectively comprise the overall construction of the FUND’S holdings, is key to the core objective of total return, from both appreciation of value and generation of current income, within the context of preservation of capital.
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The FUND normally invests approximately 40% to 60% of its total assets in equity securities and 40% to 60% in fixed income securities. Under normal circumstances, equity securities will represent at least 25% of total assets, and fixed income securities may represent as much as 75%, but not less than 25% of total assets. The FUND will evaluate the split between equity securities and fixed income securities on an ongoing basis to determine the appropriate split. The FUND may invest up to 15% of its assets in high-yield bonds that are below investment grade.
Equity securities include domestic and foreign common and preferred stock, convertible debt securities, American Depositary Receipts (“ADRs”), Global Depository Receipts (“GDRs”), real estate investment trusts (“REITs”), royalty trusts, master limited partnerships (“MLPs”) and exchange traded funds (“ETFs”). The FUND may invest in emerging market securities. The FUND may also invest in private placements in these types of securities. The FUND may invest in securities issued by companies of any market capitalization, including small- and mid-capitalization companies. The FUND may invest up to 100% of its portfolio in the securities of these companies.
In equity securities, the FUND focuses on identifying the fundamental intrinsic value of a company taken as a whole, and buying securities that are below that intrinsic value and selling when approaching or above the intrinsic value. The FUND acts to ensure that its investments in private equity fit within the context of capital preservation by applying the same intrinsic value approach to both private and public companies. The intrinsic value approach focuses on fundamental business factors such as a company’s earning power, cash flow, balance sheet, franchise or brand value, proprietary market position assets, including intellectual property, and competitive advantages which drive the long-term performance of the company. As a result, the FUND’S private equity investments could be opportunistic, in the sense of being underpriced in comparison to its intrinsic or potential upside value, or defensive, in the sense of offering favorable characteristics to current market or economic conditions (for example, inflation).
In debt and fixed income securities, the FUND may invest in investment grade and non-investment grade debt securities (commonly called “junk bonds”), or unrated debt securities determined by Concorde Financial Corporation (the “Advisor”) to be of comparable quality. The FUND focuses on debt and bond securities that offer appropriate current returns that are commensurate with related interest rate and default risks. The FUND may also invest in private placements in these types of securities. The FUND invests in debt securities that have a maturity that is between 1 and 15 years. Under normal circumstances, the FUND’S portfolio will have an average dollar weighted maturity between 3 and 15 years and an average duration of 2 to 5 years. Duration is a measurement of price sensitivity to interest rate changes.
The type of private equity investments in which the FUND invests includes private investments in public companies, investments in private companies in need of capital, and investments in private equity companies whose principal business is to invest in, lend capital to or provide services to privately held companies.
The Advisor may sell a security or reduce its position if it has reached its target price, its present reward to risk ratio is unattractive, it is overvalued, or the security subsequently fails to meet initial investment criteria.
CONWX - Performance
Return Ranking - Trailing
| Period | CONWX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.7% | -2.2% | 75.1% | 27.90% |
| 1 Yr | 13.7% | -1.9% | 70.2% | 31.42% |
| 3 Yr | 3.6%* | -4.7% | 21.1% | 30.48% |
| 5 Yr | 7.6%* | -3.7% | 21.5% | 26.70% |
| 10 Yr | N/A* | 0.7% | 13.8% | 23.68% |
* Annualized
Return Ranking - Calendar
| Period | CONWX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -1.9% | -12.2% | 23.9% | 98.53% |
| 2022 | -9.5% | -34.7% | 2.8% | 4.35% |
| 2021 | 15.5% | -11.9% | 18.1% | 1.08% |
| 2020 | 4.7% | -20.9% | 39.7% | 75.40% |
| 2019 | 14.4% | 0.8% | 25.7% | 46.17% |
Total Return Ranking - Trailing
| Period | CONWX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.7% | -2.2% | 75.1% | 27.90% |
| 1 Yr | 13.7% | -1.9% | 70.2% | 31.42% |
| 3 Yr | 3.6%* | -4.7% | 21.1% | 30.48% |
| 5 Yr | 7.6%* | -3.7% | 21.5% | 26.70% |
| 10 Yr | N/A* | 0.7% | 13.8% | 21.58% |
* Annualized
Total Return Ranking - Calendar
| Period | CONWX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.2% | -12.2% | 26.8% | 99.41% |
| 2022 | -2.4% | -29.0% | 10.9% | 2.25% |
| 2021 | 19.7% | -3.0% | 27.3% | 1.24% |
| 2020 | 11.1% | -19.5% | 40.6% | 64.24% |
| 2019 | 16.8% | 2.2% | 32.7% | 81.50% |
NAV & Total Return History
CONWX - Holdings
Concentration Analysis
| CONWX | Category Low | Category High | CONWX % Rank | |
|---|---|---|---|---|
| Net Assets | 37 M | 861 K | 235 B | 92.97% |
| Number of Holdings | 62 | 2 | 16143 | 48.97% |
| Net Assets in Top 10 | 14.9 M | 859 K | 66.9 B | 93.95% |
| Weighting of Top 10 | 36.70% | 10.8% | 122.7% | 60.03% |
Top 10 Holdings
- MSILF Government Portfolio 4.94%
- Texas Pacific Land Corp 4.33%
- Sprott Physical Gold Trust 3.74%
- Black Stone Minerals LP 3.73%
- LLR EQUITY PARTNERS V, L.P. 3.66%
- United States Treasury Note/Bond 3.64%
- United States Treasury Bill 3.61%
- Exxon Mobil Corp 3.28%
- JPMorgan Chase Co 2.96%
- Pioneer ILS Interval Fund 2.81%
Asset Allocation
| Weighting | Return Low | Return High | CONWX % Rank | |
|---|---|---|---|---|
| Stocks | 79.54% | 0.00% | 100.10% | 46.46% |
| Bonds | 11.53% | 0.00% | 77.71% | 47.94% |
| Cash | 8.60% | -7.92% | 100.00% | 9.59% |
| Convertible Bonds | 0.42% | 0.00% | 23.84% | 64.93% |
| Preferred Stocks | 0.37% | 0.00% | 24.59% | 10.62% |
| Other | -0.04% | -42.55% | 113.97% | 91.74% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CONWX % Rank | |
|---|---|---|---|---|
| Energy | 30.65% | 0.00% | 85.65% | 2.09% |
| Consumer Cyclical | 13.04% | 0.00% | 19.36% | 8.05% |
| Healthcare | 12.12% | 0.00% | 29.35% | 77.94% |
| Basic Materials | 8.37% | 0.00% | 25.57% | 4.47% |
| Real Estate | 8.33% | 0.00% | 65.01% | 12.22% |
| Communication Services | 6.89% | 0.00% | 38.10% | 56.63% |
| Industrials | 6.75% | 0.00% | 24.37% | 92.55% |
| Consumer Defense | 5.83% | 0.00% | 15.14% | 75.56% |
| Technology | 5.16% | 0.00% | 44.21% | 97.32% |
| Financial Services | 2.86% | 0.00% | 38.77% | 98.36% |
| Utilities | 0.00% | 0.00% | 99.55% | 96.13% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CONWX % Rank | |
|---|---|---|---|---|
| US | 79.54% | 0.00% | 100.10% | 45.87% |
| Non US | 0.00% | 0.00% | 42.80% | 67.55% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CONWX % Rank | |
|---|---|---|---|---|
| Government | 32.08% | 0.00% | 97.26% | 42.79% |
| Corporate | 29.01% | 0.00% | 98.21% | 56.02% |
| Securitized | 7.21% | 0.00% | 92.13% | 78.31% |
| Cash & Equivalents | 6.85% | 0.00% | 99.92% | 12.09% |
| Municipal | 0.10% | 0.00% | 24.80% | 53.79% |
| Derivative | -0.04% | -4.58% | 41.29% | 86.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CONWX % Rank | |
|---|---|---|---|---|
| US | 11.53% | 0.00% | 77.71% | 47.79% |
| Non US | 0.00% | 0.00% | 15.37% | 62.83% |
CONWX - Expenses
Operational Fees
| CONWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.56% | 0.03% | 27.98% | 21.11% |
| Management Fee | 0.80% | 0.00% | 1.83% | 91.51% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 7.52% |
| Administrative Fee | N/A | 0.01% | 0.83% | N/A |
Sales Fees
| CONWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| CONWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CONWX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 12.00% | 0.83% | 343.00% | 13.25% |
CONWX - Distributions
Dividend Yield Analysis
| CONWX | Category Low | Category High | CONWX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.59% | 0.00% | 17.90% | 54.76% |
Dividend Distribution Analysis
| CONWX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| CONWX | Category Low | Category High | CONWX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.32% | -2.34% | 13.92% | 86.04% |
Capital Gain Distribution Analysis
| CONWX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Semi-Monthly |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 12, 2024 | $0.284 | OrdinaryDividend |
| Dec 12, 2024 | $0.006 | CapitalGainShortTerm |
| Dec 12, 2024 | $1.586 | CapitalGainLongTerm |
| Dec 19, 2023 | $0.373 | OrdinaryDividend |
| Dec 16, 2022 | $1.382 | OrdinaryDividend |
| Dec 16, 2021 | $0.705 | OrdinaryDividend |
| Dec 17, 2020 | $0.650 | OrdinaryDividend |
| Dec 31, 2019 | $0.218 | OrdinaryDividend |
| Dec 31, 2019 | $0.009 | CapitalGainShortTerm |
| Dec 31, 2019 | $0.121 | CapitalGainLongTerm |
| Dec 06, 2018 | $0.060 | OrdinaryDividend |
| Dec 06, 2018 | $0.655 | CapitalGainLongTerm |
| Dec 07, 2017 | $0.372 | CapitalGainLongTerm |
| Dec 08, 2016 | $0.006 | CapitalGainShortTerm |
| Dec 08, 2016 | $0.021 | CapitalGainLongTerm |
CONWX - Fund Manager Analysis
Managers
Gary Wood
Start Date
Tenure
Tenure Rank
Dec 04, 1987
34.51
34.5%
Gary B. Wood, Ph.D., is the founder and Chief Executive Officer of Concorde Companies. Dr. Wood also serves as Chairman of the firms’ Investment Policy Committees. Prior to founding Concorde, Dr. Wood worked for an independent trust company in Houston, Texas, as an investment and financial advisor. There, he was responsible for managing the assets of high-net worth clients. Gary relocated to Dallas from Houston in 1981 to establish Concorde Companies, a group of investment management and financial advisory enterprises with activities in marketable securities and venture capital. Dr. Wood is a co-founder and Chairman of the Board of International Hospital Corporation (IHC), founded in 1991 to develop acute-care hospital facilities, specialty hospitals and specialty clinics that are uniformly managed and branded in three countries in Latin America. Additionally, he is Chairman of the Board of eOriginal, Inc., a leading provider of comprehensive business-to-business digital transaction management (digital signatures and vaulting) and ecommerce solutions based in Baltimore. He has extensive business experience relating to healthcare, software, manufacturing and investment management.
John Stetter
Start Date
Tenure
Tenure Rank
Dec 31, 1994
27.43
27.4%
John joined Concorde in 1994 as a senior portfolio manager with responsibility for investment research, portfolio strategy and trading. Prior to joining Concorde, he founded and was President of Spyglass Investment Management, a registered investment advisor, from 1988 to 1994. John’s discretionary management at Spyglass included both balanced and fixed income portfolios for primarily high net worth clients. Between 1979 and 1988 he was with a private manufacturing and engineering firm in Dallas, Texas, and served on the investment committee for an internally managed defined benefit plan. In addition, he served as an investment and financial analyst in assisting the CFO and President with corporate capital projects, strategic planning, banking relations and outside investment projects. John currently serves as a Trustee of the R. R. Cook Endowment and previously served on the Board of Trustees for the private school at The Episcopal Church of the Good Shephard in Dallas, Texas. He also served on the Board of Directors and as the Secretary and Treasurer of Stone Gap and Greater Duncanville Industrial Corporations, private real estate development businesses in Dallas County, Texas. John received a Bachelor of Business Administration degree in 1977 and a Master of Business Administration degree in 1979 from The University of Texas at Austin where he was a member of Beta Gamma Sigma.
Gregory Wood
Start Date
Tenure
Tenure Rank
Jul 22, 2016
5.86
5.9%
Greg is a Vice President of the Concorde Companies, and is a Principal in the portfolio management team for both public securities and private investments in addition to overseeing regulatory compliance as chief compliance officer. He is also a Managing Director of Omnimed Capital, a healthcare focused Venture Capital investment group. Prior to joining Concorde, Greg spent a decade in banking for JP Morgan and Wells Fargo, as a troubled asset work-out specialist, and covered a variety of businesses including healthcare, gaming, distribution companies, import businesses, manufacturing, technology, services, and agriculture. He currently serves on the Endowment Foundation Investment Committee for the Children’s Oncology Service of Texas (aka the Ronald McDonald House). Greg is also a member and the Texas State Chair of the Society of International Business Fellows, a leadership organization consisting of 1400 senior business executive level, government officials, and NGO members in four regional networks in 45 countries and completed their North American Leadership Academy in 2015. Greg completed his undergraduate work at the University of Texas at Austin and his Master of Business Administration focusing on Finance and Strategy at Southern Methodist University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.39 | 2.41 |
