The Bloomington-based firm dominated the PSN Small Cap Core Universe, securing the highest returns across the quarter, one-year, three-year, and ten-year periods. Chief Investment Officer Tim Madey attributed the success to a broad-based approach, noting that gains were driven by portfolio companies in semiconductors, optical communications, aerospace, energy, and healthcare. The strategy, which boasts a 26-year track record, is managed by a team including Madey, Mike Wallace, Charlie Bellows, and Randy Scherago.
White Pine Capital Small Cap Strategy Tops Q1 2026 PSN Rankings
Outperforming 695 products across 268 firms, White Pine Capital’s Small Cap strategy claimed the top spot in the PSN US Core Universe for the one-year period ending in March 2026. The recognition marks a significant milestone for the firm, which has now secured PSN Top Gun status fifteen times since 2018.
PSN Product Manager Nick Williams highlighted the difficulty of the period, citing geopolitical instability—specifically military action in Iran during February—and persistent inflation concerns as major market hurdles. According to Williams, top-performing managers like those at White Pine Capital distinguished themselves by effectively navigating these shocks and adjusting to shifting Federal Reserve expectations. The PSN Top Guns list, curated by Zephyr, remains a primary benchmark for institutional investors, utilizing proprietary screens to evaluate performance across more than 75 investment universes.
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