Ranger Investment Management

Yes. Ranger has historically valued capacity discipline and has soft-closed its strategy to new investors in prior market cycles when asset growth threatened to limit the team's ability to build meaningful positions in its target market-cap range. This approach aligns with the firm's long-standing view that small-cap alpha generation requires the ability to invest opportunistically in sub-$2 billion companies.

H.H. 'Hoot' Gibson founded Ranger in 2000 and serves as Managing Partner. The investment team includes portfolio managers and analysts who average over 15 years of industry experience. The senior team has worked together through multiple market cycles, with partners like John Rettig sharing portfolio management responsibilities under a collaborative, research-driven structure.

Ranger avoids highly cyclical, capital-intensive industries where competitive advantages are difficult to sustain and recurring revenue models are rare. The team has historically been underweight or excluded commodity-driven energy, traditional heavy industrials, and speculative biotechnology platforms without clear revenue trajectories. The focus remains on companies with demonstrable recurring revenue streams and organic growth drivers.