Bread & Butter  BABFX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Mid-Cap Value Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Large
   Value
  
  
As of 2009-06-30
Day Change
$ -0.05
  
NAV (2009-11-20)
$ 10.48
  
YTD Return % (2009-11-20)
24.47%
  
Total Assets ($ mil)
1
View Data Definitions
  Performance    
Growth of $10,000 Fund: Bread & Butter
(from 2005-10-31 to 2009-10-31) Category: Mid-Cap Value
Index: S&P 500 TR
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2005-10-31 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 24.47 58.20 -0.38 --- --- 1.62
+/- Category 1.47 40.34 6.38 --- --- ---
+/- S&P 500 TR 0.95 9.40 5.52 --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 21.73 4.04 -0.33 --- --- 1.86
Month-End (as of 2009-10-31) 20.78 19.12 -1.19 --- --- 1.62
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 19.06 -1.58 --- --- ---
On Distribution & Sale of Shares --- 12.50 -1.17 --- --- ---
Morningstar Rating --- --- --- --- ---
# of compared funds covered (3 yrs : out of 339 funds), (5 yrs : out of funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
Information 3.13
Software 0.00
Hardware 0.00
Media 3.13
Telecommunications 0.00
Service 57.37
Healthcare 4.27
Consumer Services 3.45
Business Services 2.51
Financial Services 47.15
Manufacturing 39.50
Consumer Goods 14.38
Industrial Materials 2.11
Energy 20.20
Utilities 2.80
Asset Allocation
% of Net Assets
Cash 12.8
Stocks 82.9
Bonds 0.0
Other 4.3
Foreign Stocks 12.6
(as a % of Assets)
Data through 2009-06-30 Data through 2009-06-30
 
Holding Status
Total Number of Stock Holdings 22 Turnover % 60
Total Number of Bond Holdings 0 30 Day SEC Yield % ---
% of Assets in Top 10 Holdings 56.42 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Sector P/E YTD
Return %		 % of Net
Assets
Loews Corporation 3.12 26.33 14.14
Philip Morris International Inc 13.11 18.11 6.86
Berkshire Hathaway Inc. B 29.94 7.25 5.98
Rowan Companies, Inc. 4.22 54.40 5.70
American National Insurance --- 37.83 5.20
Diageo PLC ADR 14.12 23.70 5.07
Mitsubishi UFJ Financial Group, Inc. ADR --- -14.49 3.62
Pfizer Inc. 14.88 8.19 3.54
El Paso Corporation --- 24.01 3.18
Mercer Insurance Group, Inc. 9.73 39.72 3.13
Data through 2009-06-30
YTD Return through 2009-11-20
  Other Information
Fund Inception: 2005-10-31
Portfolio Manager  (Start Date)
James B. Potkul  (2005-10-31)
Potkul founded Potkul Capital Management LLC (PCM) in 1995. He is president and chief investment officer and principal of PCM. For the past 5 years, he has been managing and advising high net worth separate accounts at his firm.
Sales Charge %
(taken from prospectus dated 2009-04-30)
Front: None
Deferred: None
Expense Ratio % 1.40
based on net assets
(taken from annual report dated 2008-12-31)
Correspondence Information
3633 Hill Rd. 3rd Flr.

Parsippany,  NJ  07054
USA
Telephone:
888-476-8585
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.