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 June 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

$1.4 Billion

Strategy Assets

$222 million

Composite Assets

$210 million

Wtd Avg Market Cap

$736 million

Median Market Cap

$586 million

Number of Holdings

40

Active Management

95%
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..4 Billion

Strategy Assets

$222 million

Composite Assets

$210 million

Wtd Avg Market Cap

$736 million

Median Market Cap

$586 million

Number of Holdings

40

Active Management

95%
Active Share

Concentrated Portfolio

30 – 50
Holdings

Downside Capture Ratio

68%
Since Inception

The above information is current as of 6/30/2022 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 August 31, 2022

MTD

QTD

YTD

1 Yr*

3 Yr*

5 Yr*

Since Inception*

RIM Micro Cap Growth Composite (Gross)

12.4%

12.5%

-18.3%

-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%

MTD

QTD

YTD

1 Yr*

3 Yr*

5 Yr*

Since Inception*

RIM Micro Cap Growth Composite (Gross)

12.4%

12.5%

-18.3%

-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 June 30, 2022

RIM Micro Cap Growth

Russell Microcap Growth Index

Healthcare

25.6%

33.8%

Technology

19.0%

14.9%

Industrials

20.9%

14.1%

Consumer Discretionary

16.6%

11.1%

Financials

8.9%

6.6%

Energy

4.8%

4.8%

Basic Materials

1.5%

3.3%

Telecommunications

1.1%

3.0%

Consumer Staples

0.0%

4.2%

Real Estate

0.0%

2.2%

Utilities

0.0%

1.9%

Cash

1.6%

0.0%

RIM Micro Cap Growth

Russell Microcap Growth Index

Healthcare

25.6%

33.8%

Technology

19.0%

14.9%

Industrials

20.9%

14.1%

Consumer Discretionary

16.6%

11.1%

Financials

8.9%

6.6%

Energy

4.8%

4.8%

Basic Materials

1.5%

3.3%

Telecommunications

1.1%

3.0%

Consumer Staples

0.0%

4.2%

Real Estate

0.0%

2.2%

Utilities

0.0%

1.9%

Cash

1.6%

0.0%

Top 10 Holdings

As of June 30, 2022

Security Name

Weight

NAPCO Security Technologies

4.6%

i3 Verticals

4.5%

America's Car-Mart

4.4%

e.l.f. Beauty

4.2%

PDF Solutions

3.8%

LeMaitre Vascular

3.8%

Avid Bioservices

3.7%

Simulations Plus

3.5%

UFP Technologies

3.5%

Model N

3.2%

39.1%
of the total portfolio

Security Name

Weight

NAPCO Security Technologies

4.6%

i3 Verticals

4.5%

America's Car-Mart

4.4%

e.l.f. Beauty

4.2%

PDF Solutions

3.8%

LeMaitre Vascular

3.8%

Avid Bioservices

3.7%

Simulations Plus

3.5%

UFP Technologies

3.5%

Model N

3.2%

Portfolio Characteristics

As of June 30, 2022

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

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.

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