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Strategy

US Smaller Companies Equity

The US Smaller Companies Equity Composite seeks long-term capital growth primarily through investment in stocks of smaller U.S. companies (small and mid-cap) believed to offer growth potential or be under-valued.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

15.75%
2.97%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

13.01%
1.66

Inception Date 31-Jul-2001

Performance figures calculated in USD

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Curt J. Organt, CFA
Curt J. Organt, CFA, Portfolio Manager

Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy in the U.S. Equity Division of T. Rowe Price. Previously, he was an associate portfolio manager of the US Small-Cap Core Equity Strategy. Mr. Organt is a vice president and Investment Advisory Committee member of the Small-Cap Stock, Small-Cap Value, and Global Industrials Strategies. Mr. Organt is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Focus on companies within the market cap range of the Russell 2500 Index at time of purchase.
  • Assess valuation using relevant sector/industry metrics — absolute and relative price to earnings, price to cash flow, and price to assets.
  • Integrate fundamental research by a dedicated Small-Cap research team to discover underfollowed companies possessing clear business plans, financial flexibility, and proven management teams.
  • Identification of a “value creation” catalyst is key.
  • Broadly diversify holdings to manage portfolio risk profile.
  • Employ a low turnover and patient trading strategy to promote full value realization.

Portfolio Construction

  • Typically 200-250 securities
  • Position sizes typically range from 0.15% to 2.50%
  • Primary sector weights generally vary from 0.5X to 2.0X the Russell 2500 Index weights

Holdings

Total
Holdings
175
Largest Holding CoStar Group 2.18% Was (31-Mar-2019) 2.03%
Other View Full Holdings Quarterly data as of 30-Jun-2019
Top 10 Holdings 17.18% View Top 10 Holdings Monthly data as of 30-Jun-2019

Top Purchase

CenterState Bank (N)
0.74%
Was (31-Mar-2019) 0.00%

Top Sale

SS&C Technologies Holdings
0.91%
Was (31-Mar-2019) 1.70%

Quarterly Data as of 30-Jun-2019

Sectors

Total
Sectors
11
Largest Sector Information Technology 20.78% Was (31-Mar-2019) 23.39%
Other View complete Sector Diversification

Monthly Data as of 30-Jun-2019

Benchmark: Russell 2500 Index

Top Contributor^

Consumer Discretionary
Net Contribution 0.78%
Sector
0.06%
Selection 0.72%

Top Detractor

N/A

^Relative

Quarterly Data as of 30-Jun-2019

Largest Overweight

Utilities
By3.82%
Portfolio 7.51%
Benchmark 3.69%

Largest Underweight

Real Estate
By-3.51%
Portfolio 6.32%
Benchmark 9.83%

Monthly Data as of 30-Jun-2019

Team (As of 07-Feb-2019)

Curt J. Organt, CFA

Curt Organt is the portfolio manager of the US Smaller Companies Equity Strategy in the U.S. Equity Division of T. Rowe Price. Previously, he was an associate portfolio manager of the US Small-Cap Core Equity Strategy. Mr. Organt is a vice president and Investment Advisory Committee member of the Small-Cap Stock, Small-Cap Value, and Global Industrials Strategies. Mr. Organt is a vice president of T. Rowe Price Group, Inc.

Mr. Organt has 27 years of investment experience, 23 of which have been with T. Rowe Price. Prior to joining the firm in 1995, he was a financial analyst and a marketing analyst at DAP Products, Inc.

Mr. Organt earned a B.S. in finance and philosophy from La Salle University and an M.B.A. from Wake Forest University. He also has earned the Chartered Financial Analyst designation.

  • Portfolio manager
    since
    2019
  • Years at
    T. Rowe Price
    23
  • Years investment
    experience
    27
Eric Papesh

Eric Papesh is a portfolio specialist in the U.S. Equity Division of T. Rowe Price. He is based in London and serves as a proxy for equity portfolio managers with institutional clients, consultants and prospects. Mr. Papesh supports T. Rowe Price's US Smaller Companies Equity and US Large-Cap Equity Strategies offered in the Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) regions. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

Mr. Papesh has 22 years of financial services experience, two of which have been with T. Rowe Price. Before joining the firm in 2014, he was a senior research analyst with Russell Investments, where he focused on US equity investment strategies.

Mr. Papesh earned a B.A. in business administration and an M.B.A. from the University of Washington. He has also earned the Chartered Financial Analyst designation.

  • Years at
    T. Rowe Price
    4
  • Years investment
    experience
    24
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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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