Equity Strategies

We invest in quality. Quality companies have sustainable competitive advantages that translate into superior financial performance. Over the long-term, that drives superior stock performance.

We are long-term investors. We have owned shares in many companies for well over a decade.

​We are style agnostic. We will invest in both growth and value stocks.
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Who we serve
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Venado manages equity investment strategies for individuals, families, endowments, foundations, and other entities. 
U.S. Small-Mid Cap Equity Strategy
The U.S. Small-Mid Cap Equity (“SMID”) strategy seeks to generate small cap returns but with large cap volatility. We believe this is possible because within the small cap universe, investors tend to be risk seeking and overlook less risk alternatives. Through a relatively focused strategy (typically 25-40 holdings), we invest in companies that possess the ability to grow over long time horizons by virtue of their durable competitive advantages. 
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additional SMALL-MID CAP equity QUARTERLY COMMENTARY

3Q2025
​Typically, during a powerful rally, a proverbial rising tide lifts all boats. Needless
to say, this was not the case. During the third quarter, the SMID strategy declined 1.1% while the Russell
2500 grew 9.0%.
2Q2025
The SMID portfolio returned 2.2%, gross of fees, during the quarter compared to the Russell 2500, which increased 8.6%. We outperformed in April but lagged in May and June as the rally off the recent bottom continued.
1Q2025 
​The SMID portfolio performed as we had hoped in Q1, declining 0.7% versus a decline of 7.5% by the Russell 2500. Our overweight to Consumer Staples and cash position of over 10% aided our results but otherwise stock selection drove our relative performance.​
4Q2024 
The Small-Mid Cap Strategy performed well. For the year ending December 31, 2024, the strategy was up 17.2% gross of fees, versus the benchmark, which was up 12.0%. Stock selection, particularly new purchases, drove our relative returns in Q4.

What makes venado different?

Quality is a Source of Alpha
Investors in small and mid-cap stocks tend to be risk seeking. As a result, they often overlook higher quality, less risky stocks.  
Style Agnostic
We hold investments across the growth/value spectrum.
Commitment to Boutique Status
We are not salespeople. We are financial professionals engaged in the practice of financial advice.