Bernzott Capital Remains Attracted in Compass Minerals (CMP) Despite Disappointing Q4 Results

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio rose 4.2% (gross) slightly underperforming the Russell 2000 Value’s advance of 4.3%, and somewhat less than the Russell 2500 Value’s gain of 6.3%. Industrials, the sector with the largest allocation at 35.2% of the portfolio, was the largest positive contributor to returns led by capital goods...