Portfolio Construction

We construct our portfolios with approximately 100 holdings across the various sectors within the Russell 2000. Portfolio positions will generally be purchased with a 1%-2% initial weight; however, it is expected that position sizes will change over time. The entire portfolio is reviewed on a quarterly basis in terms of sector weightings and position sizing. In addition, stocks will be monitored more frequently for changes in fundamentals, variations in trading behavior, and significant events that could impact a company’s outlook.

Portfolio Characteristics

Inception DateMay 1, 2019
Assets Under Management (in millions)$9.30
Investment StyleCore
BenchmarkRussell 2000® Index

Portfolio Statistics as of 3/31/22

Small Cap EquityRussell 2000® Index
Average Market Capitalization ($ Bil)$2.8$3.4
Indicated Yield1.9%2.5%
Trailing P/E Ratio9.7x14.6x
Forward P/E Ratio10.0x13.8x
Price/Book Ratio2.5x2.3x

Sector Diversification as of 3/31/22

Small Cap EquityRussell 2000® Index
Communication Services6.603.20
Consumer Discretionary9.4010.40
Consumer Staples7.103.50
Energy9.806.70
Financials11.0015.90
Health Care11.2016.50
Industrials11.7015.40
Information Technology12.1013.70
Materials7.204.00
Real Estate7.007.80
Utilities6.203.00
Cash0.700.00

Top 10 Holdings as of 3/31/22

Chesapeake Energy Corp2.6%
Magnolia Oil & Gas Corp2.4%
Advansix Inc2.1%
Stewart Information Services Corp1.7%
The RMR Group Inc1.6%
Kimball Electronics Inc1.4%
Atlas Air Worldwide Holdings Inc1.3%
Qualys Inc1.3%
Matson Inc1.3%
Hackett Group Inc1.3%