WELCOME

DISCIPLINED
VALUE-CONSCIOUS
HISTORICALLY INFORMED
RISK-MANAGED
FOCUSED ON THE COMPLETE MARKET CYCLE

Investing for
Long-term Returns
while Managing Risk.

Since 2000, the goal of the Hussman Funds
has been to serve our shareholders by seeking
long-term returns, adhering to a value-conscious,
historically-informed, risk-managed discipline
focused on the complete market cycle...

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CURRENT UPDATE
Hussman
Market
Comment
Ring Out, Wild Bells
On Friday December 6th, the U.S. stock market pushed to the most extreme level of valuation in U.S. history, based on the measures that we find best-correlated with subsequent S&P 500 total returns, as well as the depth of subsequent losses over the completion of market cycles across a century of data. That’s not a forecast. Rather, it’s a statement about current, measurable, observable market conditions.
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Latest Topic

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Going All In - The Bubble in Profit Expectations
The heady optimism in forecasted earnings is hiding in aggressive expectations for profit margins. The rise in market valuations has been much more tightly linked to those elevated margins - and expectations for even higher margins next year and the year after - than investors may realize. If the widely held belief that public companies will perpetually become more profitable begins to falter, the steep valuation premium that has been priced into U.S. large-cap stocks over the past decade may evaporate.

Overview

Hussman Funds

We pursue a disciplined, value conscious, risk managed and
historically informed investment approach focused on the complete market cycle...

HSGFX
Strategic Market Cycle
Fund
The Fund invests primarily
in U.S. stocks, with the objective
of long-term capital appreciation,
and places added emphasis on
defending capital during
unfavorable market conditions.

HSTRX
Strategic Total Return
Fund
The Fund invests primarily
in U.S. Treasury and government
agency securities, with the
objective of long-term total return,
and has the ability to take a
limited exposure in foreign
government bonds, utiltity stocks,
and precious metals shares.

HSAFX
Strategic Allocation
Fund
The Fund seeks total return
by allocating assets primarily
in stocks and bonds, in
consideration of valuations
and estimated expected return,
with added emphasis on risk-
management to adjust exposure
when market conditions suggest
speculation or risk-aversion.

Recent Posts

FUND NEWS

December 31, 2024: Hussman Strategic Market Cycle Fund paid an income distribution of $0.1645 per share. Hussman Strategic Total Return Fund paid an income distribution of $0.0847 per share. Hussman Strategic Allocation Fund paid an income distribution of $0.0524 per share.

November 1, 2024: Pursuant to the recently finalized SEC "names rule" for mutual funds, we have adopted a new fund name - Strategic Market Cycle Fund - for HSGFX. Based on SEC guidance, “the primary types of names that the amended rule is anticipated to cover include fund names with terms such as ‘growth’ or ‘value’ or certain terms that reference a thematic investment focus, including terms indicating that the fund’s investment decisions incorporate one or more ESG factors.” The new name, Strategic Market Cycle, remains consistent with our value-conscious, historically-informed, full-cycle investment discipline, and we believe it will help investors to distinguish the Fund's objective from purely passive, index-tracking funds.

August 29, 2024: The Hussman Funds June 2024 Annual Report is now available online. Reports and Prospectuses for each of the Hussman Funds can be accessed from The Funds menu tab under Prospectus & Reports.

FINRA's BrokerCheck: Check out the background of Ultimus Fund Distributors, LLC, the Distributor of Hussman Funds, on FINRA's BrokerCheck

Hussman Funds

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