To provide long-term capital appreciation through a passive approach to investing in the smallest publicly traded stocks.
The strategy invests in ultra-small companies, defined as those with market capitalizations in the smallest 10% of companies listed on the New York Stock Exchange, as reflected in the roughly 800 companies included in the University of Chicago's Center for Research in Security Prices Cap-Based Portfolio 10 Index (CRSP 10).
Management of this strategy seeks to roughly match the sector and industry makeup and financial characteristics of the CRSP 10 Index. Stocks are roughly equally weighted at time of purchase, with initial position weights generally less than 0.5%. A company may be excluded from the portfolio if Bridgeway believes it has high potential to underperform. Bridgeway focuses strongly on trading efficiency and managing bid/ask spreads to the advantage of investors.
|Benchmark||Russell Microcap Index|
Bridgeway Capital Management, LLC is a Houston-based, SEC Registered Investment Advisor founded in 1993. Registration does not imply a certain level of skill or training. BCM offers equity separate accounts, mutual funds, and sub-advisory services managed primarily in a statistical, evidence-based approach across multiple market capitalizations and investment styles to investors. The firm ascribes to four business values: Integrity, Performance, Efficiency and Service. BCM focuses on efficient trading to complement statistical stock selection and believes that it can add value by managing conflicts of interest, promoting its independence, and aggressively managing trading costs.
Past performance is not a guarantee of future results. Bridgeway Capital Management, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. A full presentation in compliance with GIPS® and a complete list of composite descriptions are available upon request by contacting Bridgeway Capital Management, LLC at:
20 Greenway Plaza, Suite 450
Houston, Texas 77046
Bridgeway Ultra-Small Company Market Composite - Portfolios in this composite are managed with an objective of seeking to provide long-term total return of capital, primarily through capital appreciation of ultra-small company stocks. Security selection is designed to produce a portfolio that roughly matches the sector and industry makeup of the CRSP Cap-Based Portfolio 10 Index. For purposes of this strategy, Bridgeway defines ultra-small companies as those with market capitalizations in the smallest 10% of companies listed on the New York Stock Exchange or companies with a capitalization that falls within the range of capitalization of companies included in the CRSP 10 Index. Portfolios in this composite would appropriately be benchmarked against the CRSP 10 Index.
The CRSP Cap-Based Portfolio Indices are a monthly series based on portfolios that are rebalanced quarterly. The universe includes all common stocks listed on the NYSE, NYSE American, and Nasdaq® National Market excluding Unit Investment Trusts, Closed-end Funds, REITs, Americus Trusts, foreign stocks, and American Depositary Receipts. Eligible companies with primary listings on the NYSE are ranked into equally populated deciles. The CRSP 10 represents the smallest decile of these stocks.
The currency used to express performance is the US dollar.