KAT
Scharf ETF
About KAT
The Scharf ETF (KAT) primarily invests in equity securities that the adviser believes have significantly more appreciation potential than downside risk over the long term.
Our bottom-up fundamental research process focuses on exploiting four key market inefficiencies: low valuation factors, quality characteristics, time arbitrage opportunities, and negative sentiment cycles. By maintaining a long-term perspective and concentrated portfolio of 25-35 highest-conviction holdings, KAT aims to deliver strong risk-adjusted returns for investors seeking defensive value exposure with alpha generation potential.
Fund Details
| Name | Value |
|---|---|
| Fund Inception | 12/30/2011 |
| Ticker | KAT |
| Primary Exchange | NASDAQ |
| CUSIP | 00770X220 |
| Expense Ratio | 0.75% |
| 30-Day SEC Yield* As of 7/31/2025 | - |
*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.
Fund Data and Pricing
| Name | Value |
|---|---|
| Net Assets | $791.88m |
| NAV | $54.70 |
| Shares Outstanding | 14,477,013 |
| Premium/Discount Percentage | -0.09% |
| Closing Price | $54.65 |
| Median 30 Day Spread* | 0.22% |
As of 8/29/2025
*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.
Performance
As of 7/31/2025
As of 6/30/2025
The Fund has adopted the performance history of the Scharf Fund (the “Scharf Predecessor Fund”), which operated as a mutual fund using the same investment objective and substantially similar principal investment strategies and principal risks, except that the Scharf Predecessor Fund was classified as a “diversified fund” and its principal investment strategy included investing in equity securities of companies of all size market capitalizations, while the Fund is classified as “non-diversified fund” and its principal investment strategy includes investing in equity securities of mid- and large-capitalization companies. Performance information shown for periods prior to August 22, 2025, is that of the Scharf Predecessor Fund.
Historical Distributions
Top 10 Holdings
Fund Documents
Purchase
The Fund (KAT) is available through various channels including via phone 800-617-0004, broker-dealers, investment advisers, and other financial services firms, including:
