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State Street Institutional Small-Cap Equity Fund

mutual fund
SSQSX
Payout Change
Pending
Price as of:
$17.15 -0.23 -1.32%
primary theme
U.S. Small-Cap Blend Equity
share class
SSQSX (Mutual Fund)

State Street Institutional Small-Cap Equity Fund

Payout Change
Pending
Price as of:
$17.15 -0.23 -1.32%
primary theme
U.S. Small-Cap Blend Equity
share class
SSQSX (Mutual Fund)

State Street Institutional Small-Cap Equity Fund

Payout Change
Pending
Price as of:
$17.15 -0.23 -1.32%
primary theme
U.S. Small-Cap Blend Equity
share class

Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$17.15

$1.1 B

0.50%

$0.09

1.14%

Vitals

YTD Return

-0.1%

1 yr return

6.9%

3 Yr Avg Return

0.0%

5 Yr Avg Return

8.0%

Net Assets

$1.1 B

Holdings in Top 10

15.1%

52 WEEK LOW AND HIGH

$17.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 42.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$17.15

$1.1 B

0.50%

$0.09

1.14%

SSQSX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 8.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.14%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    State Street Institutional Small-Cap Equity Fund
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Sep 30, 2005
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Brayman

Fund Description

The Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) under normal circumstances in equity securities of small-cap companies, such as common and preferred stocks.
The Fund defines a small-cap company as one with a market capitalization that, at the time of initial investment, falls between (a) the market capitalization of the smallest company in the Russell 2000® Index and (b) either the larger of the market capitalization of the largest company in the Russell 2000® Index or $3.0 billion. As of December 31, 2023, the market capitalizations of companies in the Russell 2000® Index ranged from $1.47 million to $13.05 billion. These capitalization ranges will change over time. SSGA Funds Management, Inc. (SSGA FM or the Adviser), the Fund's investment adviser, or a sub-adviser will not sell a stock merely because the market capitalization of a company in the portfolio moves outside of this capitalization range or because the index capitalization range changes. Because of this, the Fund may have less than 80% of its net assets in equity securities of small-cap companies at any given time. The Adviser and sub-advisers select equity securities from a number of industries based on the merits of individual companies, although at times the Fund's investments may be focused in one or more market sectors, such as information technology.
The Fund uses a multi sub-adviser investment strategy that combines growth, value and core investment management styles. SSGA FM will allocate the Fund's assets among the sub-advisers to maintain exposure to a combination of investment styles, but may have larger allocations to certain sub-advisers based on its assessment of the potential for better performance or to address capacity constraints of a particular sub-adviser, among other reasons. As a result, this orientation will typically produce a portfolio that does not materially favor value or growth style investing, and allows the Fund the potential to benefit from both value and growth cycles in the marketplace.
The Adviser and sub-advisers seek to identify securities of companies that they believe have desirable characteristics for the Fund such as:
high quality management focused on generating shareholder value;
attractive products or services;
appropriate capital structures; and/or
strong competitive positions in their industries.
In addition, a sub-adviser with a value investment style generally will seek to identify securities of companies with characteristics such as attractive valuation, while a sub-adviser with a growth investment style generally will seek to identify securities of companies with strong growth potential.
The Adviser and sub-advisers may consider selling a security when one of these characteristics no longer applies, when the Adviser or sub-adviser believes that the valuation has become excessive, or more attractive alternatives are identified.
The Fund also may invest up to 20% of its net assets (plus any borrowings for investment purposes) in securities with capitalizations outside the Fund's small-cap range and up to 10% of its total assets in foreign securities. The Fund also may invest up to 20% of its net assets (plus any borrowings for investment purposes) in debt securities and up to 10% in below-investment grade debt securities. The Adviser and sub-advisers may also use various types of derivative instruments (such as futures contracts, options and forward contracts) to gain or hedge exposure to certain types of securities as an alternative to investing directly in or selling such securities.
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SSQSX - Performance

Return Ranking - Trailing

Period SSQSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -13.5% 21.8% 54.55%
1 Yr 6.9% -15.3% 42.8% 71.80%
3 Yr 0.0%* -10.9% 40.3% 49.24%
5 Yr 8.0%* -14.0% 32.3% 49.19%
10 Yr 7.5%* -3.3% 16.6% 31.23%

* Annualized

Return Ranking - Calendar

Period SSQSX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -19.9% 29.0% 87.15%
2022 -19.1% -59.3% 118.2% 36.52%
2021 3.1% -31.6% 39.3% 74.10%
2020 11.5% -51.0% 39.5% 48.53%
2019 19.2% -5.6% 37.8% 61.43%

Total Return Ranking - Trailing

Period SSQSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -13.5% 21.8% 54.55%
1 Yr 6.9% -15.3% 42.8% 71.80%
3 Yr 0.0%* -10.9% 40.3% 49.24%
5 Yr 8.0%* -14.0% 32.3% 49.19%
10 Yr 7.5%* -3.3% 16.6% 31.23%

* Annualized

Total Return Ranking - Calendar

Period SSQSX Return Category Return Low Category Return High Rank in Category (%)
2023 13.9% -11.7% 31.8% 73.56%
2022 -15.3% -45.2% 123.7% 30.71%
2021 20.6% 0.0% 47.7% 66.10%
2020 14.9% -50.5% 46.9% 41.49%
2019 26.0% 2.1% 43.7% 33.47%

NAV & Total Return History


SSQSX - Holdings

Concentration Analysis

SSQSX Category Low Category High SSQSX % Rank
Net Assets 1.1 B 529 K 145 B 31.11%
Number of Holdings 323 2 2454 36.30%
Net Assets in Top 10 169 M 120 K 10.3 B 33.33%
Weighting of Top 10 15.09% 3.5% 100.1% 59.11%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 4.24%
  2. Enerpac Tool Group Corp 1.67%
  3. MGP Ingredients Inc 1.54%
  4. Dycom Industries Inc 1.29%
  5. Darling Ingredients Inc 1.22%
  6. SM Energy Co 1.10%
  7. US Physical Therapy Inc 1.03%
  8. RB Global Inc 1.01%
  9. Ingevity Corp 1.00%
  10. Applied Industrial Technologies Inc 1.00%

Asset Allocation

Weighting Return Low Return High SSQSX % Rank
Stocks
95.67% 2.52% 108.16% 89.44%
Cash
4.29% 0.00% 42.16% 25.19%
Other
0.05% -0.14% 36.28% 31.48%
Preferred Stocks
0.00% 0.00% 8.35% 40.56%
Convertible Bonds
0.00% 0.00% 3.17% 38.59%
Bonds
0.00% -1.96% 82.35% 40.93%

Stock Sector Breakdown

Weighting Return Low Return High SSQSX % Rank
Industrials
21.94% 2.46% 37.42% 17.23%
Financial Services
14.74% 0.00% 35.52% 63.67%
Technology
13.26% 0.00% 54.70% 62.36%
Healthcare
12.22% 0.00% 26.53% 55.81%
Consumer Cyclical
11.45% 0.99% 47.79% 47.94%
Consumer Defense
9.35% 0.00% 18.87% 1.87%
Basic Materials
7.55% 0.00% 18.66% 8.61%
Real Estate
3.72% 0.00% 29.43% 87.27%
Energy
3.41% 0.00% 37.72% 80.34%
Communication Services
1.23% 0.00% 14.85% 84.27%
Utilities
1.14% 0.00% 18.58% 80.90%

Stock Geographic Breakdown

Weighting Return Low Return High SSQSX % Rank
US
95.67% 2.52% 108.16% 84.26%
Non US
0.00% 0.00% 91.59% 46.48%

SSQSX - Expenses

Operational Fees

SSQSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.01% 38.45% 43.20%
Management Fee 0.89% 0.00% 1.50% 82.16%
12b-1 Fee 0.25% 0.00% 1.00% 45.12%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

SSQSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SSQSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SSQSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 42.00% 1.00% 314.00% 48.07%

SSQSX - Distributions

Dividend Yield Analysis

SSQSX Category Low Category High SSQSX % Rank
Dividend Yield 0.50% 0.00% 42.47% 86.30%

Dividend Distribution Analysis

SSQSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

SSQSX Category Low Category High SSQSX % Rank
Net Income Ratio -0.14% -2.40% 2.49% 71.91%

Capital Gain Distribution Analysis

SSQSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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SSQSX - Fund Manager Analysis

Managers

Scott Brayman


Start Date

Tenure

Tenure Rank

Sep 15, 2008

13.72

13.7%

Scott T. Brayman, CFA – Managing Partner – Chief Investment Officer of Small and Mid Cap Strategies Scott has more than 37 years of investment management experience. He is a founding partner of the firm and leads the small and mid cap investment team. Prior to joining Champlain, Scott was a Senior Vice President at NL Capital Management, Inc. and served as a Portfolio Manager with Sentinel Advisors, Inc. where he was responsible for managing small cap and mid cap core strategies. He also spent time as a Portfolio Manager and Director of Marketing for Argyle Capital Management in Allentown, Pennsylvania, before joining NL Capital Management, Inc. Scott began his career as a Credit Analyst with the First National Bank of Maryland. Scott graduated cum laude from the University of Delaware with a Bachelor of Arts degree in Business Administration. He earned his Chartered Financial Analyst® (CFA) designation in 1995 and is a member of the CFA Institute and the CFA Society Vermont.

Michael Cook


Start Date

Tenure

Tenure Rank

Sep 15, 2008

13.72

13.7%

Michael Cook is the Founder, the Chief Executive Officer and Chief Investment Officer at SouthernSun responsible for all portfolio management activities for the firm. In his over 30 years of experience as a research analyst and portfolio manager, Mr. Cook has developed a unique investment philosophy and process which serves as the core of the firm’s U.S. and Global Equity strategies. Prior to founding SouthernSun in 1989, Mr. Cook was a portfolio manager/analyst at Front Street Capital Management from 1986 to 1988, and was an account executive at Merrill Lynch from 1985 to 1986. Throughout his career, he has been featured and quoted in The Wall Street Journal, Barron’s, and Bloomberg Markets Magazine and has been a speaker on CNBC, Fox Business News, and Bloomberg TV. Mr. Cook attended Covenant College and the OCCA Business Programme, Wycliffe Hall, University of Oxford, and is a member of the CFA Institute.

Frank Latuda


Start Date

Tenure

Tenure Rank

Sep 10, 2010

11.73

11.7%

FRANK LATUDA, JR., CFA®, Chief Investment Officer and Portfolio Manager for the Small Cap Value, SMID Cap Value, Mid Cap Value, and All Cap Value strategies. Frank also serves as a member of the Board of Directors. As CIO, Mr. Latuda also serves as the Chairman of the Investment Policy Committee. Frank began his investment career in 1992 and prior to joining Kennedy Capital, he was an analyst with Burns, Pauli, Mahoney Company. Mr. Latuda joined Kennedy Capital as an equity analyst in 1997 and served as Director of Research from 1998 until 2000.  Frank has been a PM since October of 2000 when he took over the Small Cap Value strategy. Mr. Latuda earned a B.S. in Electrical Engineering from the University of Notre Dame, as well as an M.S. in Electrical Engineering and an M.B.A. from the University of Illinois.

Marc Shapiro


Start Date

Tenure

Tenure Rank

Mar 07, 2012

10.24

10.2%

Mr. Shapiro serves as the Senior Portfolio Manager for Palisade’s Small Cap Core Equity strategy and is a member of the Firm’s Investment Policy Committee. Prior to his promotion to Senior Portfolio Manager in March 2012, Marc was Associate Portfolio Manager and Senior Vice President of Research for the strategy, with lead research responsibility for a number of sectors, including Information Technology and Telecom Services. Prior to joining Palisade in March 2004, Mr. Shapiro was a Senior Equity Analyst at Awad Asset Management and a Small Cap Analyst at Schroders. Mr. Shapiro received his M.S. in Finance from Drexel University and his B.S. in Finance from the College of New Jersey.

Shawn McKay


Start Date

Tenure

Tenure Rank

Apr 12, 2019

3.14

3.1%

Shawn McKay, CFA, is a Vice President of SSGA and a member of the portfolio construction team within the Outsourced Chief Investment Officer (“OCIO”) business. In his role with OCIO, he has also worked as part of the manager research team where he conducted due diligence, and ongoing oversight on a variety of asset managers/strategies. Prior to this, Mr. McKay was a member of the Fiduciary Advisory Solutions group within SSGA where his responsibilities included daily operations, data gathering for manager research, trading, and client reporting. He has been with SSGA since 2007 and State Street since 1999. Prior to joining SSGA, he was an AVP and Senior Public Reporting Analyst in the Corporate Finance group responsible for capital adequacy reporting to the Federal Reserve, as well as being a part of the Basel II implementation project. Prior to this he held various positions in the Investor Services division of State Street Bank. Mr. McKay holds a Master of Science in Finance from Suffolk University and a Bachelor of Business Administration in Finance from the University of Massachusetts at Amherst. He has earned the Chartered Financial Analyst (CFA) designation, and is a member of the CFA Institute, Inc., and CFA Society Boston, Inc.

Carrie Peluso


Start Date

Tenure

Tenure Rank

Apr 06, 2021

1.15

1.2%

Carrie Peluso, CFA, is a Managing Director of the Adviser and the Head of Manager Research for the Global Fiduciary Solutions (GFS) group. She joined the Adviser in 2018.

Ross Johnson


Start Date

Tenure

Tenure Rank

Jul 01, 2021

0.92

0.9%

Ross Johnson joined Riverbridge in 2010. As a lead portfolio manager, Ross is responsible for portfolio construction, security selection, and conducting company and industry research across all industry sectors. He is also a member of the management team at Riverbridge, which is responsible for the strategic decision making and overall management of the firm. Prior to joining Riverbridge, Ross spent three years with Boston Scientific as a manufacturing operations supervisor and a financial analyst, and began his career working for the Rosemount Division of Emerson Process Management as an engineer. He earned his Bachelor of Science in Mechanical Engineering from the University of North Dakota and his MBA from the University of St. Thomas Opus College of Business. Ross is a holder of the right to use the Chartered Financial Analyst® designation. He is a member of the CFA Institute and the CFA Society of Minnesota. Ross is adventurous and spends a lot of time exploring outdoors, whether it be practicing his landscaping, golfing or fishing skills or enjoying a new hobby.

Mark Thompson


Start Date

Tenure

Tenure Rank

Jul 01, 2021

0.92

0.9%

Mark Thompson co-founded Riverbridge in 1987 to pursue his passionate belief in long-term investing. As Chief Manager, Mark is responsible for the strategic decision making and overall management of the firm. He is also Chairman of the Riverbridge Board of Governors. Mark serves as the Chief Investment Officer, where he is responsible for coordinating the efforts of the Investment Team and overall portfolio compliance to Riverbridge investment disciplines. Prior to founding Riverbridge, Mark spent several years at IDS Financial Corp. where he performed investment research and was an associate portfolio manager of the IDS New Dimensions Fund. Mark earned his Bachelor of Science in Business degree in Finance from the University of Minnesota Carlson School of Management and is a member of the CFA Institute and the CFA Society of Minnesota. Mark is also a member of the Board of Directors of Wiland Direct, Inc., TreeHouse, Opportunity International Nicaragua, and Pulse Outreach, as well as a Trustee of the LoCorr mutual funds and the Board of Investment – Converge Retirement Fund.

Phillip Cook


Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

Mr. Cook joined SouthernSun in 2006. He is responsible for coordination of research and communication within the Investment Team and is responsible for the research and analysis of existing portfolio companies as well as new ideas. He also provides input on portfolio management and construction. Prior to joining SouthernSun, Mr. Cook served as the Analyst to the Chairman and CEO of Trivest Partners, a Miami-based private equity firm focused on middle-market LBOs. He received his B.S. in International Business, summa cum laude, from Auburn University. Mr. Cook serves on the Board of Su Casa Family Ministries.

McAfee Burke


Start Date

Tenure

Tenure Rank

Jan 31, 2022

0.33

0.3%

MCAFEE BURKE, CFA®, Portfolio Manager for the Small Cap Value and SMID Cap Value strategies and Research Analyst. As a Research Analyst at KCM, Mr. Burke is responsible for selecting and monitoring securities within the consumer and industrials sectors of KCM’s universe.  McAfee joined Kennedy Capital in October 2015.  Mr. Burke began his investment career in 2005, and prior to joining KCM he worked as a portfolio manager and senior equity analyst for Delaware Investments for 8 years.  McAfee earned a B.A. in Economics and Spanish from Bowdoin College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 49.61 7.12 2.58