U.S. Small-Mid Cap Value Equity

The Brandes U.S. Small-Mid Cap Value Equity Strategy seeks long-term capital appreciation by investing primarily in the equity securities of U.S. issuers with equity market capitalizations greater than $1.5 billion but no greater than $10 billion at the time of purchase. 


Why U.S. Small-Mid Cap Value Equity?

  • Value: The strategy employs our disciplined, bottom-up investing approach to seek U.S. small-/mid-cap companies trading below our estimates of intrinsic value.
  • Experience: Having managed the U.S. Small-Mid Cap Value Equity Strategy for over 20 years, Brandes is familiar with the intricacies of the vast U.S. small-/mid-cap equity space.
  • Flexibility: The strategy has the ability and willingness to be different than the benchmark.


As of 30 Jun 2024 | Reporting Currency: USD

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Source: Brandes, Russell. Total return – net and gross of management fees. Periods of greater than one year have been annualized. Past performance is not a guarantee of future results. The strategy primary benchmark is the Russell 2500 Index. It is not possible to invest directly in an index. GIPS® Report available in Resources section below. 


Data displayed as of 30 Jun 2024


Characteristic U.S. Small-Mid Cap Value Equity Russell 2500 Index
Price/Book (x)
Price per share divided by book value per share.
1.5 2.3
Price/Earnings (x)
Price per share divided by earnings per share.
14.0 17.2
Price/Cash Flow (x)
Price per share divided by cash flow per share.
9.2 10.3
Dividend Yield %
Dividends per share divided by price per share.
1.7 1.4
Active Share %
A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.
95.7 --
Number of Holdings 68 --
Weighted Average Mkt. Cap ($bil) 6.7 7.4
Portfolio Turnover (TTM) %
(Trailing Twelve Months)
11.7 --
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Top 10 Holdings (%)

Company % Country Industry
United Therapeutics Corp 3.2 United States Biotechnology
Amdocs Ltd 3.0 United States IT Services
Moog Inc 2.7 United States Aerospace & Defense
Premier Inc 2.5 United States Health Care Providers & Services
Edgewell Personal Care Co 2.5 United States Personal Care Products
NETGEAR Inc 2.4 United States Communications Equipment
Elanco Animal Health Inc 2.1 United States Pharmaceuticals
National Presto Industries Inc 2.0 United States Aerospace & Defense
F5 Inc 2.0 United States Communications Equipment
International Flavors & Fragrances Inc 2.0 United States Chemicals
% of Portfolio 24.4    
Portfolio holdings are subject to change at any time at the discretion of the investment manager.
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Sector Allocation (%)

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The Brandes U.S. Small-Mid Cap Value Equity Composite seeks to achieve long-term capital appreciation by investing primarily in equity securities of U.S. issuers with equity market capitalizations greater than $1.5 billion, but no greater than $7.5 billion, at the time of purchase. Small and mid-capitalization securities involve greater issuer risk than large capitalization securities, and the markets for such securities may be more volatile and less liquid.

The Russell 2500 with gross dividends measures the performance of the small to mid cap segment of the U.S. equity universe. The benchmark returns are not covered by the report of independent verifiers.

The Russell 2500 Value Index with gross dividends measures the performance of the small to mid cap segment of the U.S. equity universe. Securities are categorized as growth or value based on their relative book to price ratios, historical sales growth, and expected earnings growth.

The portfolio characteristics shown relate to a single account deemed by Brandes to be generally representative of the strategy as of date noted. Not every account will have these exact characteristics. The actual characteristics with respect to any particular account will vary based on a number of factors including but not limited to: (i) the size of t he account; (ii) investment restrictions applicable to the account, if any; and (iii) market exigencies at the time of investment. Data is updated on a quarterly basis.

The results for individual accounts and for different periods may vary. Investors should not rely on prior performance results as a reliable indication of future results. Market conditions may impact performance. The performance results presented were achieved in particular market conditions which may not be repeated. Moreover, the current market volatility and uncertain regulatory environment may have a negative impact on future performance.

Market Capitalization, Price/Book, Price/Earnings, Price/Cash Flow, and Dividend Yield for each security provided by Bloomberg, L.P. Please note that Bloomberg does not provide negative numbers in the data feed. Index fundamentals are calculated from holdings data as provided by the relevant index or by FactSet Fundamentals, excluding negative numbers for consistency. Thus, index fundamentals calculated by Brandes may differ from those computed and published by index providers.

Brandes Investment Partners® is a registered trademark of Brandes Investment Partners, L.P. in the United States and Canada. This website may also contain trademarks of other companies.