SMID Cap Value Commentaries


4th Quarter 2022

The preliminary fourth-quarter return of Cardinal’s SMID Cap Value Composite, at 10.3% net of fees, outpaced the Russell 2500 Value Index return of 9.2%.

The preliminary 2022 return of Cardinal’s SMID Cap Value Composite, at -20.0% net of fees, lagged the Russell 2500 Value Index return of -13.1%.

3rd Quarter 2022

The third quarter return of Cardinal’s SMID Cap Value Composite, at -11.3% net of fees, trailed the -4.5% return of the Russell 2500 Value Index.

2nd Quarter 2022

The second‐quarter return of Cardinal’s SMID Cap Value Composite, at ‐15.7% net of fees, lagged the ‐15.4% return of the Russell 2500 Value Index.

1st Quarter 2022

The first-quarter return of Cardinal’s SMID Cap Value Composite, at -3.1% net of fees, lagged the -1.5% return of the Russell 2500 Value Index.

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Cardinal Capital Management, L.L.C.
Four Greenwich Office Park
Third Floor
Greenwich, Connecticut 06831
Phone: 203-863-8990
Fax: 203-861-4112
info@cardcap.com

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