Foxby Corp. (Stock Symbol: FXBY) (Net Asset Value Symbol: XFXBX) is a non-diversified, closed end management investment company. The Fund’s non-fundamental investment objective is total return which it may seek from growth of capital and from income in any security type and in any industry sector. In seeking its objective, the Fund exercises a flexible strategy in the selection of securities and is not limited by the issuer’s location, size, or market capitalization. The Fund may invest in equity and fixed income securities of new and seasoned U.S. and foreign issuers, including securities convertible into common stock, debt securities, futures, options, derivatives, and other instruments. The Fund also may employ aggressive and speculative investment techniques, such as selling securities short and borrowing money for investment purposes, a practice known as “leveraging,” and may invest defensively in short term, liquid, high grade securities and money market instruments. There is no assurance the Fund will achieve its investment objective.
Foxby Corp. is part of a fund complex which includes the Midas Funds and Bexil Investment Trust.
Incorporated in Maryland on August 24, 1998, the Fund commenced operations on October 29, 1999 as a non-diversified, closed end management investment company registered under the Investment Company Act of 1940. Initially named LCM Internet Growth Fund, Inc. (Amex Symbol: FND; CUSIP f 46062H 100) and managed by LCM Capital Management, Inc., the Fund’s investment policy under normal market conditions was to invest at least 65% of its total assets in the equity securities of companies that engage in Internet and Internet-related activities. In July 2002, the Fund retained CEF Advisers, Inc. as its Investment Manager and modified its name to Internet Growth Fund, Inc.
Effective July 14, 2003, the Fund changed its name to Foxby Corp., its symbol on the American Stock Exchange to FXX, and its CUSIP to 351645106. On October 28, 2003, Fund shareholders approved the adoption of a new non-fundamental investment objective of “total return.” On that date, the Fund commenced seeking to achieve this total return objective from growth of capital and from income in any security type and in any industry sector.
On October 24, 2008 Foxby Corp. announced that the withdrawal of the Fund’s listing of its common stock from the American Stock Exchange became effective. The Fund stated its expectation that delisting will allow management to focus its resources on pursuing the Fund’s investment objectives and position the Fund to enhance long term stockholder value. Foxby's stock became quoted on under the symbol FXBY on the over-the-counter market.
On October 9, 2012, Foxby Corp. shareholders approved Midas Management Corporation as its new Investment Manager.
The Fund implemented a 1-for-5 reverse stock split with an ex-date of May 7, 2021, resulting in a new CUSIP number of 351645205 effective as of such date.
The Investment Manager, Midas Management Corporation, is a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in investment management.
Roger Atkinson*
Jon Tomasson*
Peter K. Werner*
Thomas B. Winmill, Esq.**
Thomas B. Winmill, Esq., Chairman, President, Chief Executive Officer, Chief Legal Officer
Thomas O'Malley, CPA, Treasurer, Chief Financial Officer, Chief Accounting Officer
Mark C. Winmill, Vice President
Heidi Keating, Vice President
Russell Kamerman, Esq., Secretary, General Counsel, Chief Compliance Officer
Donald Klimoski, Esq., Assistant Secretary, Assistant General Counsel, and Assistant Chief Compliance Officer
Louis Soulios, Vice President
* Member, Audit, Continuing Directors, and Nominating Committees
** Member, Continuing Directors and Executive Committees
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The Fund pays its shareholders dividends from any net investment income and distributes net capital gains, if any. Income dividends and capital gain distributions, if any, are normally paid annually.