As the year draws to a close, the holiday season offers a special opportunity to reflect on the values that guide us and to express our gratitude for the trust and relationships we hold dear. At Ironwood Investment Management LLC, this “Season of Gratitude” is more than just a festive moment – it’s a time to reaffirm the principles that define who we are and how we operate as a firm.
Rooted in Integrity and Purpose
Ironwood was founded on the belief that investment management could be about much more than financial returns. Our firm’s foundation is based on the alignment of our actions with a deeper purpose. Just as the Ironwood tree symbolizes strength and resilience, our firm is rooted in ethical values as we strive for growth, durability and utility in the investment industry. Read more about our Investment Philosophy here. This ethos resonates especially during the holiday season, a time to celebrate enduring relationships and shared successes.
The investment philosophy of the Ironwood Small Cap Core Strategy (SCC) mirrors the holiday spirit in its focus on thoughtful, sustainable practices. The Ironwood SCC strategy prioritizes high-quality investments that balance performance with ethical responsibility, ensuring that our work contributes positively to both our clients and the broader community. By integrating Environmental, Social, and Governance (ESG) considerations into our Small Cap Core strategy, we reinforce our commitment to creating a better world—one decision at a time.
Gratitude for Our Clients and Partners
This season, we want to express our heartfelt appreciation to our clients, partners, and stakeholders who have entrusted us to help achieve their financial goals. Your confidence inspires us to innovate, adapt, and strive for excellence. We are grateful for the opportunity to walk alongside you on this journey, building value together with resilience and foresight.
Looking Ahead with Optimism
The holiday season is not just a time to reflect on the past but to look forward with optimism. As we prepare for a new year, we remain steadfast in our goal of helping our clients achieve their financial objectives, while staying true to our core values. Whether it’s navigating evolving market conditions or identifying new opportunities, we are excited to continue building on the strong foundation we’ve established together. We strive to make a positive impact that extends beyond the balance sheet.
Wishing You a Warm and Joyful Season
From all of us at Ironwood Investment Management, we wish you a 4th quarter holiday season filled with warmth, joy, and gratitude. May the coming year bring new opportunities, shared successes, and lasting prosperity. Thank you for being an integral part of our journey – your trust and partnership are the greatest gifts we could ask for.
PERFORMANCE DATA AND DISCLOSURES
Performance Statistics as of 9/30/2024
Ironwood Investment Management®, LLC (Ironwood) is an independently managed investment advisory firm providing investment advisory services to institutional clients, mutual funds and high-net-worth clients. The firm is a registered investment adviser with the Securities and Exchange Commission. SEC Registration does not imply a certain level of skill or training. Accounts in the Small Cap Core composite include separately managed, fully discretionary, fee-paying portfolios. Portfolios are invested in undervalued securities, the majority of which will have market capitalizations under $2.5 billion at cost, including securities with growth and/or value characteristics. Securities are considered undervalued when management believes the current share price does not accurately reflect the long-term economic value of the underlying company. Ironwood Investment Management, LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Ironwood Investment Management, LLC has been independently verified for the periods January 1, 1999 through December 31, 2021. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. The Small Cap Core composite has had a performance examination for the periods July 1, 2002 to December 31, 2021. The verification and performance examination reports are available upon request. GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. The creation date of the composite: July 2002. Performance inception date of the composite: January 1, 1999. Prior to July 2002, portfolios were included in the composite when at least 75% of the portfolio was invested in equity securities and when at least 75% of the portfolio was invested according to the investment style of the composite. Subsequent to July, 2002, portfolios are included in the composite after the first full month of being fully invested. Returns are presented gross and net of management fees and include the reinvestment of all income. Net returns are calculated based on the highest fee of 1.00%. Investment management fees are 1.00% on the first $25 million, 0.90% on the next $25 million, 0.80% on the next $50 million, and 0.75% over $100 million on an annual basis and a client’s return will be reduced by these and other related expenses. The actual fee charged to an individual portfolio may vary by size and type of portfolio and may be negotiated. Actual investment advisory fees incurred by clients may vary. The Russell 2000 Index consists of the 2000 smallest stocks in the Russell 3000 Index that represents approximately 8% of the U.S. equity market capitalization. The indices have been reconstituted annually since 1989. Ironwood returns and Index performance reflect reinvested interest income and dividends, in U.S. dollars. A list of composite descriptions and a list of limited distribution pooled fund descriptions are available upon request. Past performance is not indicative of future results. Policies for valuing investments, calculating performance and preparing GIPS Reports are available upon request. Prior to May 2006, the Firm was known as Ironwood Capital Management, LLC.