At Adirondack Funds we aren’t
just managers, we are shareholders.
Simply put, we eat our own cooking.
The Adirondack Small Cap Fund (ADKSX) is an owner operated, no-load mutual fund managed by Adirondack Research and Management since the fund’s inception in April 2005. At Adirondack Funds, we believe that the best opportunity for investment success is focusing on smaller companies that have fallen out of favor with investors. Our mission is to identify and monitor the most attractive small-cap turnaround situations before mainstream investors take notice. By assembling a diversified portfolio* of these opportunities we believe we can offer our shareholders compelling risk-adjusted returns over the long-run.
The Adirondack Team is proud of the results we’ve achieved for our shareholders. We are committed to incorporating independent thinking, patience and strict value criteria in choosing companies as investments. We also value our commitment to our partners and our community.
Gregory A. Roeder
CFA, Principal, Co-Portfolio Manager
Greg founded Adirondack Research & Management Inc. in 2004 and currently serves as co-portfolio manager of the Adirondack Small Cap Fund. Prior to founding ARMI, Greg served 18 years in various capacities within the financial services industry, including analyst/portfolio manager for Eddy & Wakefield, equity research analyst for CL King and Associates and assorted roles within KeyCorp’s credit/risk management groups. Greg graduated from the State University of New York at Plattsburgh with a bachelor’s degree in economics and Hofstra University with a master’s degree in finance. He has been a holder of the Chartered Financial Analyst designation since 2002. As co-portfolio manager of the Adirondack Small Cap Mutual Fund, Greg was recognized in 2011, 2013 and 2018 by Lipper Inc. for managing the best small cap value fund based on consistently strong risk-adjusted performance, relative to peers, in the U.S. for the three-year period from 2008 to 2010, for the five-year period from 2008 to 2012, and for the ten-year period from 2008 to 2017, respectively.
Matthew P. Reiner
CFA, Principal, Co-Portfolio Manager
Matt joined Adirondack Research & Management Inc. in February 2005 as principal, and co-portfolio manager of the Adirondack Small Cap Fund. Previously, he was an institutional portfolio manager and vice president of research at Paradigm Capital Management. Matt began his investment career with CL King & Associates as a sell-side research associate and later as an equity analyst. He earned his MBA from the University at Albany and his undergraduate degree from the State University of New York at Plattsburgh. Matt has been a holder of the Chartered Financial Analyst designation since 1999. As co-portfolio manager of the Adirondack Small Cap Mutual Fund, Matt was recognized in 2011, 2013 and 2018 by Lipper Inc. for managing the best small cap value fund based on consistently strong risk-adjusted performance, relative to peers, in the U.S. for the three-year period from 2008 to 2010, for the five-year period from 2008 to 2012, and for the ten-year period from 2008 to 2017, respectively.
Chief Compliance Officer
Jarrod joined Adirondack Research and Management Inc. in July, 2013 as Chief Compliance Officer. He is also currently the Chief Compliance officer (since 2010) and Secretary (since 2011) of Adirondack Funds. Prior to joining ARMI, Jarrod worked as Business Manager for an environmental conservation non-profit where he drafted, managed, and implemented contracts, and was in charge of the non-profit’s financials. Previously, Jarrod worked for a law firm in Washington, D.C. where he was responsible for all aspects of preferential transfer actions stemming from the bankruptcies of multimillion-dollar national companies, including negotiating and writing settlement agreements. Jarrod earned his Juris Doctor from Syracuse University in 2002 and his Bachelor of Arts (Biology Major) from Grinnell College in 1999. He is a member of the bar in Virginia and the District of Columbia.
Director of Research
Tim joined Adirondack Research & Management Inc. in 2016 as the Director of Research. Previously, he was a portfolio manager with Paradigm Capital Management, Inc. (from 1995-2006 and 2008-2016) and senior vice president and institutional equity salesperson with CL King & Associates (from 1988-2006 and 2008-2016). During 2006-2008, Tim was senior vice president/analyst for Brant Point Capital. He received his undergraduate degree from Dickinson College and a JD from Albany Law School.
*Diversification does not assure a profit or guarantee against loss.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-686-2729, or visiting www.adirondackfunds.com.
Important Risk Information
The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. Additionally, value investing is subject to the risk that a company’s intrinsic value may never be fully realized by the market.
The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-888-686-2729, or visiting www.adirondackfunds.com. Read it carefully before investing.