Small-Cap Opportunities

Objective

Realize a total return exceeding the Russell 2000 Growth Index over a full market cycle.

Investment Strategy

The Oberweis Small-Cap Opportunities strategy seeks to capitalize on the exceptional growth potential of smaller companies that are often misunderstood by traditional Wall Street research analysts. The Oberweis Small-Cap Opportunities strategy generally invests in companies (with market capitalizations within the range of the holdings in the Russell 2000 Index at the time of purchase) where our expectations for earnings growth differ from consensus expectations. These companies often boast exciting products and/or services, a strong and sustainable competitive position, and the potential for upward revisions in earnings expectations in the future. Our fundamental research process is specifically designed to efficiently identify such opportunities.

Benefits

  • Potential for significant alpha over a full market cycle
  • Disciplined and repeatable investment process managed by a passionate and experienced investment team
  • Fundamental research process specifically designed to efficiently discover smaller cap companies that are misunderstood by traditional Wall Street research analysts
  • Exposure to smaller cap companies offering the potential for earnings growth that differs from consensus expectations
  • Diversified portfolio with a focus on risk management

Lead Portfolio Manager(s)


Fourth Quarter 2023 Commentary
Fourth Quarter 2023
Fact Sheet

Strategy Basics

Inception Date:
Assets in Strategy:
Performance Benchmark:
Portfolio Status:
Minimum Account Size:

9/15/1996

$826.9 million (As of 3/31/2024)

Russell 2000® Growth Index

Strategy open to new investors

$5 million for separate account management


Our Process

Our process rests on our firmwide commitment to uncovering and capitalizing on the persistent and recurring stock pricing inefficiencies in global equities caused by a lag in investor response to new information. This lag in recognizing the catalysts likely to positively impact future earnings growth drives the security selection across all our strategies and mutual funds. The criteria used within each product, however, can differ. This is how our investment team implements our philosophy in the Small-Cap Opportunities strategy.

For the Quarter Ended

See pricing for all funds

Performance

Calendar Years

Downloadable .xls Composite Returns on the Small-Cap Opportunities Strategy

Downloadable pdf. GIPS® Compliant Annual Disclosure Presentation for the Small-Cap Opportunities Strategy

*OAM Small-Cap Opportunities composite inception date: 9/15/96.  From inception to April 30, 2009, the composite’s name was Smid-Cap Growth Equity.

The Russell 2000 Index measures the performance of approximately 2,000 companies with small market capitalizations. The Russell 2000 Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted earnings growth rates. Each index is an unmanaged group of stocks, whose performance does not reflect the deduction of fees, expenses, or taxes. You cannot invest directly in these indexes.

Net-of-fee composite returns are calculated using the highest model investment advisory fees applicable to portfolios within the composite. Advisory fees are disclosed in Part II of Form ADV. Performance is historical and includes the reinvestment of dividends and other income. Performance is calculated and presented in U.S. dollars. Past performance is not necessarily indicative of future results.

Oberweis Asset Management, Inc. (OAM) claims compliance with the Global Investment Performance Standards (GIPS® standards). To receive a complete list and description of Oberweis’ composites and/or a presentation that adheres to the GIPS® standards, contact Laura Dombro at 800-323-6166; write Oberweis Asset Management, Inc., 3333 Warrenville Road, Suite 500, Lisle, IL 60532; or e-mail laura.dombro@oberweis.net.

For the Quarter Ended

OAM Small-Cap Opportunities
Number of Stocks
Weighted Market Capitalization (millions)
Median Market Capitalization (millions)
P/E Forward 4 Quarters (estimated)
P/E Trailing 4 Quarters
Long-Term Future EPS Growth Rate (estimated)
2019 P/E to Growth Rate Ratio
2020 P/E to Growth Rate Ratio (estimated)
Dividend Yield
Price-to-Book Ratio
Price-to-Cash Flow Ratio
Price-to-Sales Ratio
Long-Term Debt to Total Equity
Return on Equity
Net Profit Margin
Cash Position
Portfolio Turnover (2018)

Source: Eikon

SECTOR ALLOCATION as of

Top 10 Holdings as a % of Total Net Assets Portfolio Holdings are subject to change at any time. References to specific securities should not be construed as a recommendation to buy or sell and should not be assumed profitable.

Top 10 Holdings as of

Source: Eikon

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