Value Investing

Small Cap


Strategy Profile

Strategy Characteristics

Number of Holdings
20 - 40
Russell 2000 Value Index
Russell 2000 Index

Strategy Summary

Invests in companies with smaller market capitalizations. Subject to price, any publicly traded company with above average economics that is not large (as defined by the Russell 1000 Index) would be a potential investment in this portfolio. A core position is 5% so that theoretically we would hold 20 names diversified across various industries. It is very rare that enough companies are sufficiently discounted to warrant this level of concentration, so concentration will vary with the price to value ratio. We will invest in positions as small as 1% when price to value ratios are higher. We will not invest in any business that is trading above our estimate of fair value.


Investment Philosophy

One team. One philosophy. One process.

Evaluating investment opportunities is a process; one we undertake with discipline and intentionality. Our primary objective is to minimize risk. We have always believed that by concentrating on not losing money, making money should take care of itself. We also analyze a company’s competitive strengths to ensure it meets our intended investment horizon of five years. Finally, we assess the human element, understanding that we are investing in real businesses run by real people facing real issues. We are not traders or speculators. We want to be long-term owners in a collection of superior business enterprises.

Learn more about our Investment Philosophy





Vulcan Value Partners, LLC is an investment adviser registered with the Securities and Exchange Commission under the Investment Adviser Act of 1940. Please reference Important Disclosures and Definitions and Material Risks included on this website.

Managed Accounts are available only for institutional and private clients of Vulcan Value Partners, LLC, a federally registered investment advisor. Vulcan Value Partners Funds are distributed by ALPS Distributors, Inc. Separately Managed Accounts and related investment advisory services are provided by Vulcan Value Partners, LLC, a federally regulated investment advisor. ALPS Distributors, Inc. is not affiliated with Vulcan Value Partners, LLC.

The Russell 2000® Index includes the 2000 firms from the Russell 3000® Index with the smallest market capitalizations. The Russell 2000® Value Index measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. Index figures do not reflect deductions for any fees, expenses, or taxes. Investors cannot invest directly in an index.

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