The Fund Grade · free · no account needed
What grade does KLCIX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Federated Hermes Kaufmann Large Cap Fund Institutional Shares
#32 of 500 graded active funds · blend · large segment peer group
The point · specialist footprint
KLCIX puts more of its book behind proven specialists than 95% of graded funds.
Bottom 20%
Bottom 40%
Middle
Top 40%
● Top 20%
That has mattered: over the past 2.7 years, funds on this rung beat bottom-rung funds by about 3.8 points per quarter, and beat the S&P in 43% of fund-quarters versus their 22%. The evidence argues this fund earns its seat.
2,825 disclosing funds tracked · the graded specialists among them drive every read · evidence, not advice
The grade scores this fund's specialist share — the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
KLCIX vs the Honor Roll — share card ↗Conviction exposure
63.9%
of the book in specialist-converged names
Late-stage weight
20.6%
of the book in Crowded or Fading names
Active share
80.4%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book — top names by stage · as of 2026-10-01
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
KLCIX grades A and ranks 32 of 500, with 63.9% specialist ownership placing it in the top 20% of peers. The concern is AVGO at 5.2%, the largest position, where specialists are actively leaving. Early conviction in COST and KLAC gives the fund something genuine to grow into.
→ Watch AVGO closely; at 5.2% of the fund, specialist exits there carry real weight on overall performance.
→ Note early specialist building in COST and KLAC as the areas where this fund is genuinely ahead of consensus.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.
The evidence base updates this week.
The specialists — not the whales — are already positioned for what comes next. Stop finding out last.
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