THE RANGER 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, 2020



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, Limited Partnership, Mutual Fund

Client Type

97% Institutional

ESG Integration

PRI, ISG Signatories

Firm Assets

$1.5 Billion

Strategy Assets

$175 million

Wtd Avg Market Cap

$682 million

Median Market Cap

$560 million

Number of Holdings

37

Active Management

93%
Active Share

Concentrated Portfolio

30 – 50
Holdings

Downside Capture Ratio

76%
Trailing 5 Yrs



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, Limited Partnership, Mutual Fund

Client Type

97% Institutional

ESG Integration

PRI, ISG Signatories

Firm Assets

$1.5 Billion

Strategy Assets

$175 million

Wtd Avg Market Cap

$682 million

Median Market Cap

$560 million

Number of Holdings

37

Active Management

93%
Active Share

Concentrated Portfolio

30 – 50
Holdings

Downside Capture Ratio

76%
Trailing 5 Yrs

The above information is current as of 09/30/2020 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. Please obtain and review all financial material carefully before investing.

Performance

As of October 31, 2020

MTD

QTD

YTD

1 Yr*

3 Yr*

5 Yr*

Since Inception*

Ranger Micro Cap Growth Composite (Gross)

-0.5%

-0.5%

11.9%

17.7%

13%

15.6%

15.9%

Ranger Micro Cap Growth Composite (Net)

-0.6%

-0.6%

10.7%

16.3%

11.6%

14.2%

14.5%

Russell Microcap Growth Index

-1.5%

-1.5%

6.5%

22.3%

4.8%

6.7%

7.0%

Russell Microcap Index

1.3%

1.3%

-6.7%

3.1%

0.4%

5.9%

5.6%

S&P 500 Index

-2.7%

-2.7%

2.8%

9.7%

10.4%

11.7%

11.0%

MTD

QTD

YTD

1 Yr*

3 Yr*

5 Yr*

Since Inception*

Ranger Micro Cap Growth Composite (Gross)

-0.5%

-0.5%

11.9%

17.7%

13%

15.6%

15.9%

Ranger Micro Cap Growth Composite (Net)

-0.6%

-0.6%

10.7%

16.3%

11.6%

14.2%

14.5%

Russell Microcap Growth Index

-1.5%

-1.5%

6.5%

22.3%

4.8%

6.7%

7.0%

Russell Microcap Index

1.3%

1.3%

-6.7%

3.1%

0.4%

5.9%

5.6%

S&P 500 Index

-2.7%

-2.7%

2.8%

9.7%

10.4%

11.7%

11.0%

*The inception date for the Ranger Micro Cap Growth Strategy 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 Ranger Micro Cap Composite (the “Composite”) and should be read in conjunction with the Composite’s GIPS disclosure presentation, which may be obtained by clicking here. Gross returns are displayed on an investment-level basis and do not represent the returns of the fund itself. Net returns are displayed by deducting estimated fees and expenses charged to the fund which are believed to be reasonable estimates of such fees. Ranger Investment Management, LP (“Ranger”) 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 Funds 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, 2020

Ranger Micro Cap Growth

Russell Microcap Growth Index

Healthcare

31.8%

48.8%

Technology

24.7%

16.1%

Industrials

18.6%

9.2%

Consumer Discretionary

11.6%

13.7%

Financials

4.7%

3.3%

Basic Materials

3.4%

0.7%

Energy

1.3%

1.2%

Consumer Staples

0.0%

2.5%

Real Estate

0.0%

1.3%

Telecommunications

0.0%

2.1%

Utilities

0.0%

1.1%

Cash

3.9%

0.0%

Ranger Micro Cap Growth

Russell Microcap Growth Index

Healthcare

31.8%

48.8%

Technology

24.7%

16.1%

Industrials

18.6%

9.2%

Consumer Discretionary

11.6%

13.7%

Financials

4.7%

3.3%

Basic Materials

3.4%

0.7%

Energy

1.3%

1.2%

Consumer Staples

0.0%

2.5%

Real Estate

0.0%

1.3%

Telecommunications

0.0%

2.1%

Utilities

0.0%

1.1%

Cash

3.9%

0.0%

Top 10 Holdings

As of September 30, 2020

Security Name

Weight

BioLife Solutions

6.6%

Fulgent Genetics

5.6%

Simulations Plus

5.0%

Green Brick Partners

4.2%

NAPCO Security Technologies

3.6%

Omega Flex

3.4%

Mesa Laboratories

3.4%

LiqTech International

3.4%

nLIGHT

3.3%

OneSpan

3.2%

41.7%
of the total portfolio

Security Name

Weight

BioLife Solutions

6.6%

Fulgent Genetics

5.6%

Simulations Plus

5.0%

Green Brick Partners

4.2%

NAPCO Security Technologies

3.6%

Omega Flex

3.4%

Mesa Laboratories

3.4%

LiqTech International

3.4%

nLIGHT

3.3%

OneSpan

3.2%

Portfolio Characteristics

As of September 30, 2020

Ranger Micro Cap Growth

Russell Microcap Growth Index

Wtd. Avg. Market Cap

$714 million

$850 million

Median Market Cap

$615 million

$217 million

Historical Earnings Growth (5 Yr)

8.9%

14.0%

Forecasted Earnings Growth (5 Yr)

12.7%

20.3%

Debt-to-Capitalization

19.3%

33.2%

Return on Equity (5 Yr)

11.1%

23.1%

Current P/E

113.6

-52.8

Forward P/E

27.8

15.7

P/E to Long-Term Growth

2.2

0.8

P/E to Current Growth

0.6

0.5

Price-to-Sales

2.7

1.8

Ranger Micro Cap Growth

Russell Microcap Growth Index

Wtd. Avg. Market Cap

$714 million

$850 million

Median Market Cap

$615 million

$217 million

Historical Earnings Growth (5 Yr)

8.9%

14.0%

Forecasted Earnings Growth (5 Yr)

12.7%

20.3%

Debt-to-Capitalization

19.3%

33.2%

Return on Equity (5 Yr)

11.1%

23.1%

Current P/E

113.6

-52.8

Forward P/E

27.8

15.7

P/E to Long-Term Growth

2.2

0.8

P/E to Current Growth

0.6

0.5

Price-to-Sales

2.7

1.8

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. 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 at (214) 871-5262 or at info@rangerinvestments.com. There is no guarantee, and it should not be assumed, that future portfolio characteristics will conform.