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Small Cap Fundamental Value

Inception Date
Per Account Minimum


  • Seek to Purchase Companies at a Significant Discount to their Intrinsic Worth
  • Free Cash Flow is the Foundation of Intrinsic Value
  • Seek Businesses with Sustainable Competitive Advantages
  • Partner with Shareholder-Oriented Management Teams


  • Fundamentally Driven Analysis of Each Company
  • Focus on Balance Sheet Strength
  • Multi-Faceted Valuation Analysis
  • Written Investment Thesis on Each Holding


Patrick W. Rau
Patrick W. Rau, CFA®

Co-Portfolio Manager

William C. Smith
William C. Smith, CFA®

Co-Portfolio Manager

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Fundamental Equity


All Performance as of 09.30.2022
Type QTR YTD 1 Year 3 Years 5 Years 10 Years Since Inception*
Small Cap Fundamental Value (Gross) -8.28 -24.26 -20.29 4.71 3.17 8.53 10.62
Small Cap Fundamental Value (Net) -8.44 -24.67 -20.87 3.99 2.43 7.75 9.87
Russell 2000® Value -4.61 -21.12 -17.69 4.72 2.87 7.94 8.75

*Performance inception date is 01.01.1996. Index is Russell 2000® Value. Performance is preliminary and is annualized for periods longer than one year. Net of fees performance returns are presented net of the investment management fees and trading expenses. “Pure” Gross of fees performance returns do not reflect the deduction of any fees including trading costs; a client’s return will be reduced by the management fees and other expenses it may incur. Investment management fees are described in Sterling’s Form ADV 2A. Performance reflects the reinvestment of interest income and dividends and realized capital gains. The performance presented represents past performance and is no guarantee of future results. Performance is compared to an index, however, the volatility of an index varies greatly and investments cannot be made directly in an index. Market conditions vary from year to year and can result in a decline in market value due to material market or economic conditions. Source: .


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Investment advisory services are available through Sterling Capital Management LLC, an investment adviser registered with the U.S. Securities & Exchange Commission (CRD# 135405) and an independently-operated subsidiary of Truist Financial Corporation. Sterling Capital Management LLC manages customized investment portfolios, provides asset allocation analysis and offers other investment-related services to affluent individuals and businesses. Securities and other investments held in investment management or investment advisory accounts at Sterling Capital Management LLC are not deposits or other obligations of Truist Financial Corporation, Truist Bank or any affiliate, are not guaranteed by Truist Bank or any other bank, are not insured by the FDIC or any other federal government agency, and are subject to investment risk, including possible loss of principal invested.