Micro Cap
THE RANGER INVESTMENTS MICRO CAP GROWTH STRATEGY seeks long-term capital appreciation by investing in growth-oriented U.S. public equities of micro capitalization companies. The strategy further seeks to capture and compound returns, manage risk and preserve capital by employing a disciplined, consistent approach to security selection, risk mitigation and ESG integration.
Strategy Overview
As of September 30, 2022
Asset Class | U.S. Micro Cap Equity |
Benchmark Index | Russell Microcap Growth |
Investment Approach | Original Research |
Strategy Inception Date | August 1, 2014 |
Vehicles Available | Managed Account, Mutual Fund, Model Delivery |
ESG Integration | PRI, ISG Signatories |
Firm Assets | $1.3 Billion |
Strategy Assets | $218 million |
Composite Assets | $206 million |
Wtd Avg Market Cap | $749 million |
Median Market Cap | $560 million |
Number of Holdings | 40 |
Active Management
94%
Active Share
Concentrated Portfolio
30 – 50
Holdings
Downside Capture Ratio
68%
Since Inception
Asset Class | U.S. Micro Cap Equity |
Benchmark Index | Russell Microcap Growth |
Investment Approach | Original Research |
Strategy Inception Date | August 1, 2014 |
Vehicles Available | Managed Account, Mutual Fund, Model Delivery |
ESG Integration | PRI, ISG Signatories |
Firm Assets | $1.3 Billion |
Strategy Assets | $218 million |
Composite Assets | $206 million |
Wtd Avg Market Cap | $749 million |
Median Market Cap | $560 million |
Number of Holdings | 40 |
Active Management
94%
Active Share
Concentrated Portfolio
30 – 50
Holdings
Downside Capture Ratio
68%
Since Inception
The above information is current as of 9/30/2022 and should not be relied upon as the sole factor in an investment making decision and is subject to change at any time due to changes in market or economic conditions. All Performance, Weightings, Holdings, Characteristics and other statistical data listed herein refer to the RIM Micro Cap Growth Composite and its benchmark. Please obtain and review all financial material carefully before investing.
Performance
As of September 30, 2022
| MTD | QTD | YTD | 1 Yr* | 3 Yr* | 5 Yr* | Since Inception* |
|---|---|---|---|---|---|---|---|
RIM Micro Cap Growth Composite (Gross) | -6.8% | 1.3% | -26.4% | -19.9% | 15.6% | 13.2% | 15.5% |
RIM Micro Cap Growth Composite (Net) | -6.9% | 1.0% | -27.1% | -20.9% | 14.2% | 11.8% | 14.0% |
Russell Microcap Growth Index | -9.3% | 2.1% | -31.6% | -37.4% | 4.4% | 0.6% | 4.1% |
Excess Return | 2.5% | -0.8% | 5.2% | 17.2% | 11.2% | 12.6% | 11.4% |
| MTD | QTD | YTD | 1 Yr* | 3 Yr* | 5 Yr* | Since Inception* |
|---|---|---|---|---|---|---|---|
RIM Micro Cap Growth Composite (Gross) | -6.8% | 1.3% | -19.9% | -14.6% | 17.8% | 16.6% | 17.3% |
RIM Micro Cap Growth Composite (Net) | 12.3% | 12.3% | -18.9% | -15.6% | 16.3% | 15.2% | 15.9% |
Russell Microcap Growth Index | 11.7% | 11.7% | -25.2% | -32.8% | 4.7% | 4.0% | 5.3% |
Excess Return | 0.7% | 0.8% | 6.9% | 18.2% | 13.1% | 12.6% | 12.0% |
*The inception date for the Ranger Investments Micro Cap Growth Composite (the “Composite”) is August 1, 2014. Performance periods longer than one year are annualized.
The performance returns presented above represent the gross and net of fees results of the Composite. Gross returns are displayed on an investment-level basis and do not represent the returns of the Composite itself. Net returns are displayed by deducting estimated fees and expenses charged to the Composite which are believed to be reasonable estimates of such fees. Ranger Investment Management, LP (“RIM”) manages the accounts in the Composite, which is comprised of institutional separately managed accounts as well as public pooled investment vehicles.
Past performance is not a reliable indicator of future performance and the Composite may not achieve the same level of returns as those achieved by previous investments and actual results may be material and adverse. Holdings related information contained herein are for illustration purposes only.
Portfolio Weightings
As of September 30, 2022
| RIM Micro Cap Growth | Russell Microcap Growth Index |
|---|---|---|
Healthcare | 26.9% | 37.5% |
Technology | 19.9% | 14.2% |
Industrials | 16.0% | 13.7% |
Consumer Discretionary | 15.9% | 9.9% |
Financials | 8.4% | 6.4% |
Energy | 5.7% | 4.7% |
Basic Materials | 1.3% | 3.3% |
Telecommunications | 0.9% | 3.3% |
Consumer Staples | 0.0% | 3.7% |
Real Estate | 0.0% | 1.8% |
Utilities | 0.0% | 1.6% |
Cash | 4.8% | 0.0% |
| RIM Micro Cap Growth | Russell Microcap Growth Index |
|---|---|---|
Healthcare | 26.9% | 37.5% |
Technology | 19.9% | 14.2% |
Industrials | 16.0% | 13.7% |
Consumer Discretionary | 15.9% | 9.9% |
Financials | 8.4% | 6.4% |
Energy | 5.7% | 4.7% |
Basic Materials | 1.3% | 3.3% |
Telecommunications | 0.9% | 3.3% |
Consumer Staples | 0.0% | 3.7% |
Real Estate | 0.0% | 1.8% |
Utilities | 0.0% | 1.6% |
Cash | 4.8% | 0.0% |
Top 10 Holdings
As of September 30, 2022
Security Name | Weight |
|---|---|
Avid Bioservices | 4.6% |
Model N | 4.3% |
LeMaitre Vascular | 4.2% |
NAPCO Security Technologies | 4.1% |
e.l.f. Beauty | 3.8% |
UFP Technologies | 3.7% |
Kura Sushi USA | 3.7% |
i3 Verticals | 3.6% |
Simulations Plus | 3.4% |
BioLife Solutions | 3.3% |
39.1%
of the total portfolio
Security Name | Weight |
|---|---|
Avid Bioservices | 4.6% |
Model N | 4.3% |
LeMaitre Vascular | 4.2% |
NAPCO Security Technologies | 4.1% |
e.l.f. Beauty | 3.8% |
UFP Technologies | 3.7% |
Kura Sushi USA | 3.7% |
i3 Verticals | 3.6% |
Simulations Plus | 3.4% |
BioLife Solutions | 3.3% |
Portfolio Characteristics
As of September 30, 2022
| RIM Micro Cap Growth | Russell Microcap Growth Index |
|---|---|---|
Wtd. Avg. Market Cap | $749 million | $726 million |
Median Market Cap | $560 million | $170 million |
Historical Earnings Growth (5 Yr) | 22.5% | 17.1% |
Forecasted Earnings Growth (5 Yr) | 13.9% | 17.4% |
Debt-to-Capitalization | 23.7% | 31.5% |
Return on Equity (5 Yr) | 18.4% | 5.9% |
Current P/E | 45.5 | 74.4 |
Forward P/E | 14.7 | 10.9 |
P/E to Long-Term Growth | 1.1 | 0.6 |
P/E to Current Growth | 0.5 | 0.6 |
Price-to-Sales | 2.2 | 1.1 |
| RIM Micro Cap Growth | Russell Microcap Growth Index |
|---|---|---|
Wtd. Avg. Market Cap | $736 million | $590 million |
Median Market Cap | $586 million | $185 million |
Historical Earnings Growth (5 Yr) | 12.4% | 10.3% |
Forecasted Earnings Growth (5 Yr) | 14.5% | 13.0% |
Debt-to-Capitalization | 23.4% | 33.2% |
Return on Equity (5 Yr) | 16.0% | 5.5% |
Current P/E | 28.6 | 62.0 |
Forward P/E | 15.5 | 10.9 |
P/E to Long-Term Growth | 1.1 | 0.8 |
P/E to Current Growth | 0.3 | 0.5 |
Price-to-Sales | 2.4 | 1.2 |
This information is for illustrative purposes only and should not be considered investment advice or a recommendation to purchase or sell any specific security or invest in a specific strategy. It should not be solely relied upon in making a decision to invest in this product. Composite portfolio characteristics and holdings information presented above may or may not be representative of current and/or future portfolio holdings and is subject to change without notice. A complete list of holdings as of the previous quarter end may be obtained by contacting Ranger Investments at (214) 871-5262 or at crteam@rangerinvestments.com. There is no guarantee, and it should not be assumed, that future portfolio characteristics will conform.
