COLLEGE PLANNING | ESTATE PLANNING | INVESTING | PORTFOLIO SPOTLIGHT | REAL ESTATE | RETIREMENT | TAX PLANNING
FullerThaler Behavioral Unconstrained Equity Fund
TICKER ASSETS
FTZIX $ 1.1 billion
PERFORMANCE |
YTD |
1 yr. |
3 yr. |
5 yr. |
|
28.55 % |
47.88 % |
28.64 % |
15.16 % |
TOP 5 HOLDINGS Zebra Technologies Corp.; Parker Hannifin Corp.; Coca-Cola Consolidated Inc.; Expedia Group Inc.; Applied Materials Inc.
CONTACT INFO
888-912-4562 • fullerthaler. com TOP INDUSTRIES( As a % of portfolio) Consumer Cyclical 25.88 % Technology 21.78 % Industrials 17.83 % Consumer Defensive 8.76 % Healthcare 8.68 % Financial Services 8.66 % Basic Materials 4.24 % Communication Services 4.17 %
Performance and asset numbers as of 8 / 7 / 26. Holdings and portfolio stats as of 6 / 30 / 26.( Note: Applied Materials was sold from the portfolio after Q2.) Standard deviation( three-year period) versus the Morningstar US Mid Cap Mkt TR USD Index. Turnover as of 9 / 30 / 25. Performance and expense ratio figures are for the institutional share class. Sources: Fuller & Thaler Asset Management, Inc. and Morningstar.
Behavioral Edge
This FullerThaler mutual fund aims to profit from investor mistakes. By Jeff Schlegel
ARE THE FINANCIAL MARKETS RATIONAL BEASTS best played by a passive investment strategy that takes advantage of so-called market efficiencies? Or do investor biases create inefficiencies that can be exploited by shrewd active management?
It’ s a longstanding debate among academics and investors, and the investment firm FullerThaler is firmly in the latter camp. The San Mateo, Calif.-based company employs behavioral finance— marrying finance and psychology to explain investor behavior— as it hunts for investment opportunities it believes are missed by traditional investment approaches.
The firm, whose thought leaders have included two Nobel laureates, manages a suite of mutual funds and separately managed accounts focused on domestic equities and uses a nonquantitative approach to behavioral finance.( It also manages a small-cap core equity collective investment trust and subadvises on a value fund offered by JPMorgan Distribution Services, and both these have behavioral bents.)
Six of its seven mutual funds focus on specific market cap weightings. But the FullerThaler Behavioral Unconstrained Equity Fund, the topic of this article, is an all-cap fund. Launched in late 2018, it has produced top-quartile performance within
SEPTEMBER / OCTOBER 2026 | FINANCIAL ADVISOR MAGAZINE | 45