Rewey Asset Management, an investment management firm, released its “RAM Smid Composite” investor letter for the fourth quarter of 2025. A copy of the letter can be downloaded here. In Q4 2025, the composite returned 3.58%, exceeding the Russell 2500 Value Total Return index’s 3.15% gain. YTD, the composite delivered a return of 13.09% vs. 12.73% for the Index. In 2025, equities experienced another solid year. This year, large-cap stocks dominated due to AI and technology, but momentum shifted late in the year. The Russell 2000 Value and Russell 2500 Value both outperformed the...
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