Rising Stars

Atlanticus is a financial technology company established in Georgia, USA, by David G Hanna in 1996 and is headquartered in Atlanta. The company leverage data, analytics, and innovative technology to provide financial solutions to millions of people in America. Over the 25-year period, Atlanticus have serviced 18 million consumers and provided $26 billion loans. The company’s predictive platform is built on years of investment in data, people, and technology. The products offered by Atlanticus include retail credit and general-purpose credit cards which are marketed through the omnichannel platform consisting of retail point of sale, direct mail solicitation, Internet-based marketing, and partnerships with third parties. Atlanticus through its CAR subsidiary provides multiple financing and service programs to automotive dealers and automotive non-prime financial organizations. The credit card segment has serviced over $27 billion in consumer loans over the 25-year period. Atlanticus manages investments in receivables using well-developed proprietary risk evaluation systems over a period of 25 years. The auto segment adopts the strategy of implementation of dealer-specific loss reserve accounts to manage credit quality and loss mitigation at the portfolio level. The Atlanticus stock has given a total return of over 2400% in total during the 5-year investment period 2016–2021. The average growth rate of revenues is 39% during the period 2018–2021. The average net profit margin was 21.16% during the period 2018–2021.

Riley Financial, Inc. is a diversified financial services company which provides a full range of investment banking, corporate finance research, sales and trading, advisory, valuation, and wealth management services. Over a period of 25 years, the company has created a competitive diversified financial service platform by offering a diverse suite of business capabilities beyond the traditional financial service offerings. The company has $30 billion client assets under administration and approximately 650 registered representatives. The company engaged in about 500 average advisory matters per year. The total cumulative stock returns for Riley stock during the 5-year period (June 22, 2017, to June 22, 2022) was approximately 188%. The 3-year growth rate in total revenues and total assets during the period 2019–2021 was 62% and 51%, respectively.

The Joint Corp was incorporated in the year 2010 and is headquartered in Scottsdale, Arizona. The Joint Corp was originally founded in the year 1999 by a doctor of chiropractic. The joint was refounded with the acquisition of the original eight franchised clinics. The company operates through direct ownership, management arrangements, franchising, and regional developers. By March 2022, the company has 700 plus clinics located across 37 states in the United States. The company has also executed 38 letters of intent for 38 future clinic licenses. The company has revolutionized the chiropractic care via a model to make the treatment affordable and accessible. This franchisor and operator of chiropractic clinics uses a private pay, on-insurance, cash-based model. This model facilitates Joint Corp to price services below most competitors’ pricing for similar services and below most insurance co-payment levels. During the year 2021, the franchise system has registered approximately 10.9 million patient visits and generated system-wide sales of $36.1 million. Joint Corp has a community of more than 1700 fully licensed chiropractic doctors. The 5-year (2017–2021) monthly return analysis for Joint Corp company reveals that the total monthly cumulative return for Joint Corp stock was 225%, while that of the Nasdaq Composite index was approximately 70%.

PennyMac Financial Services, Inc. (PFSI) is a specialty financial service firm with a comprehensive mortgage platform with focus on the production and servicing of US mortgage loans and management of investments related to the US mortgage market. The company has synergistic partnership with PennyMac Mortgage Investment Trust which is a publicly traded mortgage real estate investment trust (REIT). The operating subsidiaries of the company was founded in year 2008. The company was publicly listed in the year 2013. The company had over 6900 employees as of the end of fiscal year 2021. PennyMac Financial had registered a strong performance with revenue and net income of $3.2 billion and $1.0 billion, respectively, in 2021. The diluted EPS was $14.87 in the period. In 2021, approximately 25% of PennyMac Financial Services originated in the higher margin consumer and broker direct lending channels. The market value of PFSI as of June 24, 2022, was $2436.26 million. PFSI operates and controls all the business operations of Private National Mortgage Acceptance Company, LLC (PNMAC) and its subsidiaries. The loan production segment sources new prime credit quality first lien residential conventional and government-insured or guaranteed mortgage loans through the three channels of correspondent production, consumer direct lending, and broker direct lending. The total cumulative monthly return for PFSI stock was 133% during the period June 2017 to June 2022.

Etsy operates two-sided online marketplaces termed “House of Brands” which connect millions of passionate and creative buyers and sellers around the world. Etsy.com , the marketplace, is the global destination for unique and creative goods made by independent sellers. The Etsy marketplace connects creative artisans and entrepreneurs to consumers and provides tens of millions of buyers with a range of seller tools and services. The House of Brands, in addition to the main Etsy marketplace, consists of Reverb Holdings, Inc., Depop Limited, and Elo7 Serviços de Informática S.A. Reverb Holdings, Inc.is the musical instrument marketplace which was acquired in year 2019. Depop Limited (Depop) is the fashion resale marketplace. Depop deal was valued at $1.493 billion. Elo7 Serviços de Informática S.A is the Brazil-based marketplace for handmade and unique items. Depop and Elo7 were acquired in year 2021. The institutional holding of the company is 97.75%The main essence of Etsy.com ’s competitive advantage is its sellers’ collection of millions of unique items. Etsy group focusses on three elements – search and discovery, human connections, and trusted brand – to provide a best-in-class marketplace experience. The average book value of Etsy was only 5% of the market value during the period 2018–2021. The 3-year period (2019–2021) growth rate in total assets on average was 62%. The total revenues and net income grew by 60% and 110%, respectively, during the above period..

The Trade Desk, Inc. is a global technology industry leading media-buying platform for data-driven marketers. The self-service cloud-based platform offered by the Trade Desk supports advertisement buyers to create, manage, and optimize expressive data-driven digital advertising campaigns across different advertising formats and channels which include display, video, and audio on devices such as computers, mobile devices, and connected TV. Trade Desk’s platforms are integrated with major inventory, publisher, and data partners and enable advertisement (ad) buyers to reach the scale and develop effective decision-making capabilities. The enterprise application programming interfaces (APIs) offer competitive benefits for the ad buyers. The Trade Desk is a Delaware corporation which was established in Ventura, California, in the year 2009. In 2011, the company had officially launched the platform. The clients of the company are basically the advertising agencies and other service providers. Trade Desk enters into continuous master service agreements (“MSAs”) with the clients. Trade Desk charges the client a platform fee which is estimated on the basis of a percentage of a client’s total spend on advertising. The other sources of revenue are obtained by means of providing data and other value-added services and platform features. Trade Desk invoices their clients for the cost of advertising inventory purchased, plus data, and any add-on features purchased through the platform. The company had a total holding period return of 3211.9% during the 5-year period, Dec 31, 2016, to Dec 31, 2021. The total revenues and total assets increased by 36% and 48% on an average basis during the period 2019–2021.

Quidel Corporation was incorporated in the year 1979 as monoclonal antibodies. The company is a California-based leading diagnostic healthcare manufacturer which has expanded its product base through internal development and acquisition with a focus on developing and manufacturing innovative technologies to enhance the performance of diagnostic testing. QuidelOrtho was created in business combination of Quidel and Ortho Clinical Diagnostics in 2022. QuidelOrtho is ranked among the world’s largest in vitro (IVD) providers in the world. In 1987 the company was reincorporated as Quidel Corporation. Quidel Corporation is involved in the mission to advance diagnostics to improve human health. Quidel holds leadership position in the development, manufacturing, and marketing of rapid diagnostic testing solutions. The company sells its products directly to end users and distributors. In 1983, the company introduced its first products, dipstick-based pregnancy tests. The products are targeted towards professional end users in physician offices, hospitals, clinical and reference laboratories, urgent care clinics, leading universities, retail clinics, pharmacies, and wellness screening centers. The diagnostic solutions offered by the company are utilized for the detection and diagnosis of critical diseases which include infectious diseases, cardiovascular diseases, gastrointestinal diseases, and autoimmune and thyroid diseases. Quidel’s portfolio of products are categorized into four product categories: rapid immunoassay, cardiometabolic immunoassay, molecular diagnostic solutions, and specialized diagnostic solutions. The products are directly sold by the company to end users and distributors for professional use in physician offices, hospitals, clinical laboratories, urgent care clinics, retail clinics, pharmacies, and wellness screening centers. In 2021, the company had an income of $1.69 billion. Quidel focuses on the delivery of a chain of diagnostic solutions from advanced lateral flow and direct fluorescent antibody to molecular diagnostic tests to improve the quality of healthcare. The 5-year holding period return for Quidel stock was 530%.The total revenues grew by 72% on an average basis during the 3-year period 2019–2021.

ACM Research was established in the year 1998 in Silicon Valley. ACM Research Inc. develops wet processing technology and products for the semiconductor industry. In September 2006, ACM expanded its operations into Asia and established the subsidiary ACM Research (Shanghai). ACM Research provides advanced wafer cleaning and wet processing equipment for semiconductor manufacturing. In the year 2003, the company began to design an innovative new single-wafer cleaning equipment which was aimed at the emerging generations of IC chips. The company is headquartered in Fremont, California, and employs more than 875 employees in different regions. Since 2009, ACM has delivered more than 225 wet cleaning and other front-end processing tools. The company focusses on building a strategic portfolio of intellectual property to support its key innovations. The CAGR for revenues during the period 2017–2021 was 63%. The 5-year stock return analysis for ACM research suggests that on average the returns generated by the stock during the 5-year period were 77%.

Victory Capital is a diversified global asset management firm with $159.1 billion in asset management as of August 31, 2022. The company is headquartered in San Antonio. The company employs approximately 450 employees across 13 offices in the United States and abroad. The operations of the company are based on a next-generation business model which is characterized by boutique investment qualities along with the benefits of a fully integrated, centralized operating and distribution platform. Victory Capital Holdings was named as one of the top fastest-growing companies in Fortune list 2021.Victory Capital consists of 12 autonomous investment franchises which focusses on independent investment approach. Victory Capital Holdings was formed in the year 2013 by acquiring Victory Capital Management and Victory Capital Services from KeyCorp. Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. Victory Capital offers a diverse array of investment vehicles to manage actively managed mutual funds, rule-based ETFs, separately managed accounts, rule-based ETFs, private funds, and a 529 Education Savings Plan. The employees have personal investments valued at $250 million in the company’s investment products. By December 31, 2021, Victory Capital’s franchises and solutions platform collectively managed a diversified set of 130 investment strategies for a wide range of institutional and retail clients and direct investors. The company has grown organically by distributing a diverse product platform through a variety of business channels and inorganically through acquisitions. An investment of $10,000 in the Victory stock during February 2018 would have grown to $ 21,974 by October 2022. The total revenues and net income grew by 30% and 69%, respectively, on an average basis during the period 2019–2021.

Advanced Micro Devices (AMD) was founded in the year 1969 as a Silicon Valley startup. It became a publicly held company in the year 1972. The common stock is currently listed on the Nasdaq Global Select Market (Nasdaq) under the symbol “AMD.” AMD is a global semiconductor company which services the computing and graphics market with CPU, GPU, APU, system on chip, and chipset product offerings. AMD offers one of the broadest portfolios of high-performance and adaptive processor technologies and leadership computing platforms for cloud, edge, and end devices. The AMD strategy is to create and deliver the world's leading high-performance CPUs and GPUs and to integrate them with hardware and software to build differentiated solutions. The company also invests in high-performance GPUs and software for markets such as gaming, compute, artificial intelligence, cloud gaming, and virtual and augmented reality. The major focus of the R&D strategy is to develop the next generation of CPU and GPU IP. The major aim is to design IP into the SoCs for the next generation of products with the intent to improve system performance. The focus of AMD is on creation of the next generation of products to benefit society and the planet. The mission of AMD is to promote environmental sustainability across its businesses and ensure safe and responsible workplaces in its global supply chain. The average book value as percent of market value of AMD was 5.4% during the period 2018–2021. The AMD stock had a cumulative monthly return of 250% during the 5-year period 2018–2022. The average growth rate of total assets and revenues during the period 2018–2021 was approximately 40%.

AppFolio was founded in the year 2006. AppFolio is the leading provider of cloud business management solutions for the real estate industry. AppFolio solutions are designed for the ecosystem of users such as property managers, property owners, real estate, and investment managers. The solution provided by AppFolio facilitates customers to digitally transform their businesses, automate, and streamline critical business operations. The solutions provide services related to real estate life cycle, screening potential tenants, sending and receiving payments, and insurance-based risk mitigation services. The intuitive interface coupled with streamlined and automated workflows helps customers to eliminate redundant and manual processes. The platforms and mobile-optimized solutions offered by AppFolio can be used across multiple devices and operating systems. By 2021 end, the company had 1600 employees of which approximately 45% were women. The company focuses on product innovation and new customer acquisition for long-term success. The products offered by AppFolio are powered by a highly scalable computing platform and are designed with a strong focus on data security and availability. By 2021, AppFolio had 17,215 property management customers. The average book value of equity as a percent of market value was approximately 5% during the period 2018–2021. On an average basis, the total assets, total equity, and total revenue grew by 34%, 55%, and 24%, respectively, during the period 2018–2021.

Kinsale Capital Group was founded in the year 2009. The company is a property and casualty specialty insurance company that is focused on the excess and surplus (E&S) market in the United States. The company offers underwriting expertise to cover small business risks and personal lines risks. These insurance products are sold throughout the United States through a network of independent insurance brokers. The company has delivered attractive underwriting profits and has leveraged its proprietary technology platform to gain entrepreneurial efficiency. The commercial lines offerings by the company included small business, construction, commercial property, allied health, products liability, life sciences, general casualty, professional and management liability, inland marine, and commercial insurance. The company's competitive strength lies in its proprietary technology platform which helps the company to analyse trends across different functions in the business operations. The company has a fully integrated claims management system. The total monthly cumulative returns for Kinsale Capital during the period Nov 2017 to Oct 2022 was approximately 225%. The average total revenue and net income grew by 42% and 67%, respectively, during the period 2018–2021.

Freedom Holding Corp. (FRHC) is a corporation originally incorporated in the State of Utah in the United States in the year 1981. FRHC is a holding company that owns and operates diversified financial services businesses through its various subsidiaries. The subsidiaries undertake operations related to securities dealing, market making, retail securities brokerage, investment research, investment banking, and underwriting services. In 2022, FRHC completed the acquisition of two insurance companies operating in Kazakhstan. FRHC provides a comprehensive range of securities brokerage services to individuals, businesses, and financial institutions. The brokerage services offered include securities trading, margin lending, investment research, and investor education tools. The securities brokerages segment also involve in proprietary investment activities, and facilitates repurchase and reverse repurchase agreements. With respect to retail brokerage, FRHC offers full-service brokerage services which cover investment alternates such as exchange traded, over-the-counter equity and debt securities, money market instruments, options and futures contracts, government bonds, and mutual funds. The total revenue and net income grew by 104% and 259% on average basis during the period 2018–2021. The 5-year holding period return for Freedom Holding was exponential at 18,972% while for S&P 500 and S&P diversified financials, the 5-year holding period was 110% and 106%, respectively.

STAAR designs, develops, manufactures, and markets implantable lenses for eyes with companion delivery systems. These lenses eliminate the reliance on glasses or contact lenses for patients. These lenses are foldable and facilitate surgical placement in the eye through a small incision. The company has been operational in the field of ophthalmic surgery for over 30 years. The company is the exclusive manufacturer of the proprietary EVO Visian® Family of Implantable Collamer® Lenses (EVO ICL) used worldwide to correct refractive errors. The company’s goal is to improve its leadership position in the segment of refractive lenses meant as the primary solution for patients with preference for not using eyeglasses or contact lenses. The company also makes lenses for use in surgery which treats cataracts. The products of STAAR are sold in more than 75 countries. Approximately 96% of total sales of the company in the year 2021 were accounted from outside the United States. The global administrative offices and principal manufacturing facility of STAAR are located in Monrovia, California. The operational and administrative facilities of STAAR are located in the United States, Switzerland, and Japan. The Visian implantable Collamer lens product family, preloaded silicone cataract intraocular lenses, and injector systems are developed in the Monrovia manufacturing facility. The technology center of the company located in Tustin, California houses its Research and Development team. All of the company’s sales are generated from the ophthalmic surgical product segment. Most of the raw materials and components used for the production process are sourced from external suppliers. By December 2021, the company owned approximately 65 United States and foreign patents and had 27 patent applications. The proprietary technology is protected in part through confidentiality and non-disclosure agreements with employees, consultants, and other involved stakeholders. The company focuses on enhancing the technological advancements in the ophthalmic industry through the development of innovative premium ophthalmic products such as lenses, materials, and designs. The company has an active research agenda for the development of presbyopia corrective ophthalmic medical devices and preloaded injector systems. The holding period return for STAAR Surgical was 741% compared to 205% for the Nasdaq Composite and 126% for the peer group companies during the period 2016–2021.

Neurocrine Biosciences is a neuroscience-focused, biopharmaceutical company that focusses on development of novel mechanisms to treat intractable diseases related to neurological, neuroendocrine, and neuropsychiatric disorders. The diverse portfolio of the company includes FDA-approved treatments for tardive dyskinesia (TD), Parkinson’s disease, endometriosis, uterine fibroids, and late-stage clinical programs in multiple therapeutic areas of neurology, neuroendocrinology, and neuropsychiatry. The company is also focusing on research trials related to schizophrenia and major depressive disorders. Neurocrine Biosciences has marketed INGREZZA® (valbenazine) as the first FDA-approved drug for the treatment of tardive dyskinesia in the United States since 2017. There is a significant opportunity for growth for the company as the estimation suggests that there are 500,000 undiagnosed and untreated patients with Tardive Dyskinesia in the United States. The strategy of the company involves commercialization of the product portfolio, research efforts toward discoveries related to segments such as neurology, neuroendocrinology, and neuropsychiatry along with acquiring rights for commercial products and drug development molecules. The company takes a portfolio-based approach to manage its pipeline of molecules. For technical and commercial success, the company also focuses on internal resources for development of innovative therapies. As a part of its Diversity, Equity, and Inclusion Initiatives, Neurocrine Biosciences hired its first Director of Diversity, Equity, and Inclusion. The percentage of women on board is 33%. The 5-year return analysis during the period Jan 2018–Oct 2022 shows that stock had a total monthly cumulative return of 81% compared to 31% accounted by the NASDAQ biotechnology index.

Fortinet is a global leader in cybersecurity and networking solutions which provides services for enterprises, communication and security service providers, government organizations, and small businesses. Fortinet was founded in the year 2000 by Ken Xie, the former president and CEO of NetScreen. The company is headquartered in Sunnyvale, California. For over 20 years, Fortinet has been the driving force in the evolution of cybersecurity, networking, and security convergence. The network security solutions of the company are the most deployed, patented, and validated in the industry. The proprietary FortiOS operating system provides the foundation for the operation of FortiGate network security appliances. In 2002, Fortinet established the FortiGuard Labs as the elite cybersecurity threat intelligence and research segment of the company. FortiGuard labs maintain real-time threat intelligence and innovative prevention tactics and tools across the Fortinet Security Fabric. The company is ranked one in terms of the most security appliances shipped worldwide with more than 615,000 customers. Each day Fortinet FortiGuard Labs uses proven Artificial Intelligence (AI) and Machine Learning (ML) systems to process and analyze more than 100 billion events daily related to real-time intelligence for customers. Majority of the Fortune 500 companies are customers of Fortinet. It is the only cybersecurity company that is included in the NASDAQ 100 and S&P500. The company has nearly 3X times more patents than comparable network security companies. The company focusses on providing sustainable security technologies, diversifying cybersecurity talent, and aims to promotion of sustainable business across the value chain. Fortinet is a founding member of the Cyber Threat Alliance (CTA) and the World Economic Forum (WEF) Center for Cybersecurity. Fortinet have developed product and services which analyze millions of malware samples per day and provide intelligent threat detection. The total monthly cumulative returns for the Fortinet stock during the period 2018–2022 was approximately 209% compared to the 75% return generated by market index NASDAQ Computer Index.

Jefferies is a major independent US headquartered global full-service integrated investment banking and securities firm. Jefferies Group LLC (“Jefferies Group”), the largest subsidiary, was established in 1962. The year 2022 marked Jefferies Group’s 60th anniversary. The company own a legacy portfolio of businesses and investments. Jefferies is involved in the business of investment banking, capital markets, and asset management. Jefferies is ranked eighth globally and seventh in the United States across all investment banking product. The company is ranked seventh globally in equity underwriting and eighth globally in equities cash trading. Jefferies is ranked No. 1 in market share in 2021 for secondary market trading of Investment Companies. In 2021, the company registered $4.4 billion record in investment banking net revenues which marked an 84% increase compared to the previous year. The average growth rate of total assets, revenues, and net income was 9%, 22%, and 186%, respectively during the period 2018–2021.

Medpace Holdings is a global full-service clinical contract research organization (CRO), which offers all phases of clinical development services to the biotechnology, pharmaceutical, and medical device industries. Medpace is involved in the mission of development of safe and effective medical therapeutics across major segments such as oncology, cardiology, metabolic disease, endocrinology, central nervous system, and antiviral. Medpace is headquartered in Cincinnati, Ohio. By September 2022, the company employed about 5000 people across 40 countries. The company is one of the world’s leading clinical contract research organizations by revenue. The company offers an operating model of full-service Phase I–IV clinical development services. CROs provide a comprehensive range of product development services for Phase I–IV clinical trials. The company generate fees through the performance of services specified in the customer contracts. The contract scope and pricing are based on either a fixed fee or unit of service model which includes services offered by third parties. The company conduct clinical trials across all major therapeutic areas such as Oncology, Metabolic Disease, Cardiology, Antiviral and Anti-infective (AVAI), and Central Nervous System (CNS). The average growth rate of revenues and net income was 18% and 36% during the period 2018–2021.

Green Brick is a diversified homebuilding and land development company which operates in the US states of Texas, Georgia, and Florida. Green Brick Partners Inc. is Fortune Magazine’s 2021 fastest growing public homebuilder and land developer in the United States. The company commenced operations as a publicly held homebuilding company in year 2014. Green Brick encompasses eight homebuilder brands across four states in the United States. This publicly traded company is listed on NYSE. The core markets of the company are located in the high growth US metropolitan areas of Dallas Forth Worth (DFW), Texas and Atlanta, Georgia, treasure coast area in Florida. Green Brick also own a non-controlling interest stake in a builder in Colorado Springs. The company is involved in all the aspects of the homebuilding process which includes land acquisition and development, entitlements, design, construction, title and mortgage services, marketing and sales, and the creation of brand images at residential neighborhoods and master planned communities. The company manage land risk through underwriting. The subsidiary homebuilders are provided with centralized state of the art operational support. By December 2021, Green Brick Partners owned or controlled approximately 28,600 home sites in high growth submarkets in DFW, Atlanta metropolitan areas and Treasure Coast, in Florida. The homebuilding projects offered by Green Brick include town homes, patio homes, single family homes, and luxury homes. The company focuses on growth through acquisitions of builders and organic growth. The current strategy focusses on disciplined investment strategy with the prudent use of leverage for investment in land acquisition, development, and homebuilding businesses. Green Brick Partners gives importance for creating sustainable products and enhancement of green features in its home portfolio. With a goal to reduce carbon emissions, the company-initiated action plan to benchmark its homes against the Home Energy Rating System (HERS) index. The market capitalization and enterprise value increased by 64% and 56% during the period 2018–2021.

JD.com is a major supply chain-based technology and service provider which provides products and services to consumers, third-party merchants, suppliers, and other business partners through its subsidiaries, consolidated variable interest entities (VIEs) and consolidated VIEs subsidiaries. The Group basically operates e-commerce business which include online retail and online market place through its retail mobile apps and www.jd.com website (collectively, JD Platform). JD.com offers services to consumers through online retail for product selection, price, and convenience. The company also facilitate third-party merchants to sell their products on JD Platform. The third-party merchants can fulfill the orders either by themselves or through the Group’s logistics services. The Group provides a variety of marketing services to business partners through its proprietary advertisement technology platform. The JD Group also offers integrated supply chain solutions and logistics services which include warehousing and distribution services, express and freight services and other value added services to third parties. These value added services are offered to both third-party merchants and suppliers on JD Platform and other business partners through the company’s logistics subsidiary JD Logistics. The company generated total net revenues of RMB576.9 billion, RMB745.8 billion, and RMB951.6 billion (US$149.3 billion) in 2019, 2020, and 2021, respectively. The JD company have a network of 1300 warehouses with an aggregate gross floor area of 24 million square meters. By December 2021, the company had a strength of 298,717 warehouse and delivery personnel. The research and development expenses amounted to US$ 2.563 million in year 2021. The company aims to strengthen its market leadership in e-commerce business by enhancing its supply chain-based technology service capabilities along the principles of sustainable and quality growth. The growth objectives are propelled through investments in logistics infrastructure and supply chain platforms. The total cumulative monthly return for JD stock during the 5-year period Dec 1, 2017–Nov 1, 2022, was 77%.

Kornit Digital was incorporated under the laws of the State of Israel in the year 2002. In 2015, the company had its IPO and shares traded on the Nasdaq Global Select Market under the symbol “KRNT.” Kornit is the leading player in the fast-growing, industrial and mass production, digital direct-to-garment industry. The company has operations in six countries. The company develops, designs, and markets innovative digital printing solutions for the global printed textile industry. The major aim of the company is to become the operating system for on-demand sustainable fashion-the theme for self-expression through textiles in terms of anyone, anywhere, and anytime. The solutions offered by the company are complemented by additional layers of product and services offerings to serve fulfillers and demand generators with the focus on fashion, apparel, and home décor segments of the industry. The company’s business models are based on digital methods of garment, apparel, and home décor finished goods production and decoration. Kornit Digital connect demand generators such as fashion brands, e-commerce platforms, marketplaces, designers, and licensors to the most advanced production capabilities through its operating system for on demand, sustainable fashionX. By December 31, 2021, the company had approximately 1200 active customers around the world. By the year 2026, it is estimated that Kornit’s technology will leverage the production of approximately 2.5 billion apparel items in an environmentally sustainable manner. By the end of December 31, 2021, Kornit owned 37 issued patents in the United States and 43 provisional or pending US patent applications. The company also had 29 patents issued in non-US jurisdictions. Inorganic growth is a part of the growth strategy of Kornit Digital. The average book value of equity as percent of market value was only 20.8% during the 5-year period 2017–2021.

Medifast Inc. is one of the fastest growing global company which offers health and wellness services for communities. The holistic approach of the company focusses on offering Lifelong Transformation, One Healthy Habit at a Time. The company offers services through its direct-to-consumer business model. The OPTAVIA brand of the company offers effective lifestyle solution which focusses on innovative healthy habits through smaller, foundational changes called micro habits. The company have facilitated over 2 million clients to achieve their health goals through a network of approximately 59,800 independent OPTAVIA Coaches who themselves were associated with Medifast initially as clients. Medifast also develop and market products for weight loss. The 5-year holding period return for Medifast stock was 477% whereas for S&P 500 stock and for peer group the holding period return was 133% and 52% respectively during the period 2016–2021.

Vertex Pharmaceuticals is a global biotechnology company which focuses on specialty markets to create innovative medicines for treating serious diseases like cystic fibrosis. Vertex have a pipeline of investigational therapies to find cure for diseases like sickle cell disease, beta thalassemia, APOL1-mediated kidney disease, type 1 diabetes, pain, alpha-1 antitrypsin deficiency, and muscular dystrophies. The four medicines TRIKAFTA/KAFTRIO, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO are used to treat over 83,000 people for cystic fibrosis in regions of North America, Europe, and Australia. As of December 31, 2021, the company had approximately 3900 employees. The common stock of Vertex is traded on Nasdaq Global Select Market under the symbol “VRTX.” The company has headquarters in Boston and London. Vertex focuses on investment in R&D to discover and develop innovative medicines by combining transformative advances in the field of human diseases and the science of therapeutics. Vertex focuses on strategic alliances and M&A as a part of its growth strategy. An investment of $100 in the Vertex Pharma stock on July 24,1991 would have led to the invested amount accumulated to $7141.56 by December 3, 2022, reflecting a return of 7041.56%. The total cumulative monthly return for Vertex stock was 82.6% during the period 2018–2022.

Enstar is a major global reinsurance group which provides innovative insurance solutions through its network of group companies. The company was founded in Bermuda in the year 1993. Through acquisitions, the company became the largest stand-alone run-off consolidator in the year 2013.In the same year, the company diversified by investments in leading specialty insurance companies. The company also have made high-quality strategic investments. Enstar’s diversified portfolio of companies is positioned across major insurance hubs spanning different regions like Bermuda, the United States, London, Continental Europe, and Australia. Enstar manages (re)insurance companies and portfolios of (re) insurance and other liability business in run off for portfolio returns. The company have made over 110 acquisition transactions since it was established.

EPAM is one of the most important global digital transformation service providers which delivers end-to-end value to customers through its advanced software engineering and consultancy expertise. The company focusses on advanced technology software solutions, intelligent enterprise services, and digital engagement. The service offerings of the company focus on providing customized integrated solutions to customers. EPAM also provides services for business consulting, design and physical product development, artificial intelligence, robotics, and virtual reality. EPAM focuses on building enterprise technologies which improve business processes, offer smarter analytics, and achieve operational excellence through requirement analysis, platform selection, cross-platform migration, implementation, and integration. EPAM provides services for global investment banks, commercial and retail lending institutions, credit card and payment solution companies, and insurance companies. The company offers a range of platforms, applications, and solutions to travel and hospitality sectors like airlines, global hotel chains, and online travel agencies. The 5-year holding period return for EPAM systems stock was 939% while the holding period return for the Peer Group Index and S&P 500 index was 104% and 133%, respectively during the period 2016–2021.

Veeva is a major global provider of industry-specific cloud-based software solutions for the life sciences industry. The solutions provided by Veeva support pharmaceutical and life sciences firms to implement cloud-based architectures and mobile applications for its most important business functions. The solutions span cloud software, data, and business consulting which involve strategic business functions such as research and development to commercialization. The commercial solutions offered by the company facilitate life science companies to have better engagement with healthcare professionals and healthcare organizations across different communication channels. The R&D solutions for clinical, regulatory, and safety solutions facilitate life sciences firms to streamline their end-to-end product development processes to improve operational efficiency and maintain regulatory compliance in the product life system. The company also provides content and data management solutions to customers in the consumer products and chemical industries. The 5-year holding period return for Veeva Systems was 459% while the S&P 500 and S&P 1500 Application Software Index had holding period returns of 117% and 253%, respectively during the period 2017–2022.

Logitech is a world leader in designing, manufacturing, and marketing products and facilitates people to connect to digital and cloud experiences. Logitech is a multi-brand and multi-category company. The Logitech brands include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones, and Ultimate Ears. Logitech designs, manufactures, and markets products that facilitate people to connect through computing, gaming, video, music, and other digital platforms. Logitech offers a variety of pointing devices, corded and cordless keyboards, and living room keyboards. The PC Webcams offered by Logitech primarily is aimed at video conferencing users. The total revenues and net income increased by 24% and 44%, respectively, during the period 2018–2022.

PJT Partners was formed by merger and spin-off transactions between PJT Partners and Blackstone Inc. The combined business was distributed to Blackstone’s unitholders to create PJT Partners Inc. as a stand-alone independent publicly traded company. PJT Partners is a premier global advisory-focused investment bank. The firm offers strategic advisory, capital markets advisory, restructuring services, shareholder advisory services to corporations, financial sponsors, and institutional investors. PJT Partners Inc. is a holding company. The company offers private fund advisory services for private equity, real estate, hedge funds, and private credit. The company started trading on the New York Stock Exchange under the symbol PJT on October 1, 2015. The company advises clients on transactions which include mergers and acquisitions, spin-offs, joint ventures, minority investments, and divestitures. The company provides advisory services related to debt financings, acquisition financings, structured product offerings, IPO, and private capital related to early-stage financing. PJT Park Hill is the leading global alternative asset advisory and fundraising business which provides private fund advisory and fundraising services for a diverse range of investment strategies. PJT Park Hill’s secondary advisory business is the leading advisor to global alternative asset managers. PJT also provides advisory services related to liquidity and structured solutions. By December 31, 2021, the company employed 833 individuals. The company has 10 offices in five countries with 105 global partners and clients across 58 countries. The company focuses on providing clients with creative solutions for complex strategic problems. The cumulative monthly return for the PJT stock during the 5-year period Jan 2018–Dec 2022 was 61.2% while for the Nasdaq Composite index, the total monthly return was 44%. The total assets, cash, and total equity grew by 17%, 21%, and 11%, respectively, on average basis during the period 2017–2021.

MVB Financial Corp is a financial holding company incorporated in the year 2003 and operates principally through its wholly owned subsidiary MVB Bank. The consolidated subsidiaries of the bank include MVB Insurance LLC and MVB Community Development Corporation. MVB Financial Corporation is involved in a range of commercial and retail (CoRe) banking services and Fintech banking. The products and services offered to customers under CoRe banking include different demand deposits, savings account, money market accounts, certificates of deposits, commercial, consumer and real estate mortgage loans, and lines of credit. Debit cards, cashier’s checks, and safe deposit rental facilities are also offered. The bank provides client services for payments, digital savings, cryptocurrency, crowdfunding, and gaming industries. The growth strategy of MVB focusses on strategic components such as building fintech, strategic acquisition, resource allocation, efficient capital structure, and introduction of new business lines. The 5-year holding period (2016–2021) return for MVB Financial Corp stock was 234% whereas for KBW Bank index and Russell 2000, the returns amounted to 44% and 65%, respectively.

Amazon is the leading online retailer and one of the highest-grossing e-commerce aggregators positioning as the e-commerce leader. Retail-related revenues comprise approximately 80% of the total revenues. Amazon through Amazon Web Services (AWS) is also a market leader in public cloud services. Amazon stores are designed to offer millions of unique products to consumers which are sold by Amazon and third parties across dozens of product categories. Customers can access the offerings through websites, mobile apps, Alexa, devices, streaming, and physical visits to its stores. The company also manufactures and sells electronic devices such as Kindle, Fire tablet, Fire TV, Echo, and Ring. Amazon also develops and produces media content. Amazon offers subscription services such as Amazon Prime whose membership program facilitates fast free shipping on millions of items, access to award winning movies and series.Amazon works with more than 2 million independent partners in the United States which include sellers, developers, content and delivery providers. Amazon has a presence in more than 130 countries around the world. The company has more than 3000 independent delivery service partners. Amazon has delivered more than 2.2 billion packages and has generated over $12 billion in revenues. The company focusses on its strategy to offer customers low prices, fast and free delivery, and timely customer service. There are more than 100 aircraft in the Amazon air cargo fleet. The delivery network consists of 260,000 drivers worldwide. Amazon is the world’s largest corporate buyer of renewable energy with over 247 projects globally. The average book value of equity as percent of market value of equity was 6.3% during the period 2017–2021.

The company Scotts Miracle-Gro (SMG) was established in the year 1968 when its founder O M Scott opened a storefront in Marysville, Ohio. SMG is the leading manufacturer and marketer of branded consumer lawn and garden products in North America. SMG also has a presence in similar branded consumer products in China. SMG is also the exclusive agent of the Monsanto company, the subsidiary of Bayer AG for the marketing and distribution of certain Monsanto’s consumer Roundup®1 branded products within the USA and certain other specified countries. The company has an equity interest in Bonnie Plants, a joint venture with Alabama Farmers’ Cooperative, Inc. which is involved in planting, growing, and selling live plants. The US Consumer segment consists of consumer lawn and garden business in the USA. The Hawthorne segment consists of indoor and hydroponic gardening business. The other segment consists of consumer lawn and garden business outside of the USA.

Virtu Financials is a leading provider of financial service and products. Virtu had been in the market making business for more than 15 years. The company conducts its business through Virtu Financial LLC and its subsidiaries. In 2015, the company had its IPO listing. Virtu offers a robust suite of product offerings related to execution, liquidity, sourcing, analytics, and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings enable clients to trade on hundreds of venues across 50 plus countries in multiple asset classes like global equities, ETFs, foreign currencies, fixed income, and other commodities. Virtu’s integrated multi-asset analytics platform offers a range of pre- and post-trade services, data products, and compliance tools. Virtu offers market making in spot, forward, and futures currency market in over 80 currencies. Virtu Financials Inc. has developed a scalable and modular proprietary, multi-asset, multi-currency technology platform which is integrated with exchanges, liquidity centers, and clients. The 5-year holding period return for Virtu Financials during the period 2016–2021 was 118%.

Repligen Corporation is a global life science company which develops and commercializes highly innovative bioprocessing technologies and systems which facilitate the manufacturing of biological drugs. Repligen was founded in the year 1981 by two distinguished scientists Prof Alexander Rich and Prof Paul Schimmel who pioneered breakthrough advances in the field of molecular biology. Repligen offers a comprehensive suite of products in its bioprocessing business which are used for upstream and downstream processes in biological drug manufacturing. The product portfolio offered by Repligen consists of filtration, chromatography, process analytics, and proteins. The proteins business focuses on affinity ligands and growth factor solutions. The growth strategy basically aims for expansion of geographic scope, customer base, and application of technologies. An amount of $1000 invested in Repligen share in 2003 would have amounted to $58,270 by 2023 representing total return of 5728%. The total revenues and net income grew by 49% and 70% respectively during the period 2017–2021.

The company was established by Joseph J. Jacobs in the year 1947. The company is publicly traded as a Fortune 500 company. This American international technical professional services firm provides a full spectrum of professional services which includes consulting, technical, scientific, and project delivery for government and private sector. The company had approximately $15 billion in revenues during the year 2021. Jacobs Group has a talent force of approximately 60,000 people worldwide. In 2022, the company repurchased $281.9 million in shares. The major business lines of the company are Critical Mission Solutions (CMS), People & Places Solutions (P&PS), and investment in PA Consulting (PA). The company is also in the process of creating a new enabling platform Divergent Solutions (DVS) to support its lines of businesses to develop and deliver innovative, next-generation cloud, cyber, data, and digital technologies. In March 2022, Jacobs launched a new 3-year strategy to focus on three growth accelerators of climate response, consulting and advisory, and data solutions. Jacobs pursues acquisitions, divestitures, and strategic investments to create long-term value. The average yearly return for Jacobs and market indexes S&P 500 and S&P 1500 IT Consulting were 16.39%, 10.30%, and 7.27% during the period 2018–2022.

National Mortgage Insurance Corporation (National MI) is an approved primary mortgage insurance company which offers private mortgage insurance to low down payment borrowers and protects lenders and investors against losses related to defaulters. NMI Holdings Inc. was incorporated in May 2011. The company provides mortgage insurance through the wholly owned insurance subsidiaries, National Mortgage Insurance Corporation (NMIC) and National Mortgage Reinsurance Inc One. NMIC is the primary insurance subsidiary which is approved as an NMI provider by the GSEs and has license to write MI coverage in all the states in the USA. Re One provides reinsurance coverage to NMIC. NMI Services Inc. (NMIS) provides outsourced loan review services to mortgage loan originators. By December 2021, the NMI had issued master policies for 1732 clients consisting of mortgage banks, credit unions, community banks, builder-owned mortgage lenders, credit unions, and community banks. By year-end 2021, National MI had $153.6 billion of total insurance-in-force (IIF). The average growth rate of revenue and net income was 29% and 121%, respectively. The average growth rate of total assets, short-term investments, and total equity during the period 2017–2021 was 30%, 65%, and 33%, respectively.

The company was established by Robert Pera in the year 2005. The company is headquartered in New York. Ubiquiti Inc. sells equipment and its related software platforms through a network of over 100 distributors, online retailers, and customers directly through its webstores. The company specializes in providing networking infrastructure in over 200 countries globally. These networking products are driven by UISP and UniFi OS software platforms to facilitate high-capacity distributed internet access and unified information technology management for consumer electronics. The solutions can be categorized into high-performance networking technology for corporates, service providers, and consumers. The company focuses on enterprise and service provider markets through its Ubiquiti community consisting of service providers, distributors, value-added resellers, webstores, system integrators, and IT professionals. The consumers are basically targeted through digital marketing efforts. The company also offers a portfolio of networking products and solutions for operator-owners of wireless internet services (WISP) and smart homes. Carrier class infrastructure for wireless broadband, wireless backhaul systems, and routing are provided by operator-owner-service-provider to control, track, and bill their respective customers. For simplified user software interface, Ubiquiti’s enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and door access systems. By 2022, the company had employed 1377 full-time equivalent employees. By December 2021, the NMI had issued master policies for 1732 clients consisting of mortgage banks, credit unions, community banks, builder-owned mortgage lenders, credit unions, and community banks. By year-end 2021, National MI had $153.6 billion of total insurance-in-force (IIF). The average growth rate of revenue and net income was 29% and 121%, respectively. The average growth rate of total assets, short-term investments, and total equity during the period 2017–2021 was 30%, 65%, and 33%, respectively. The total cumulative monthly return for Ubiquiti stock was 201% during the 5-year period 2018–2022.

Salesforce founded in the year 1999 is the largest customer relationship management (CRM) platform in the world which offers CRM applications for sales, services, and marketing. The CRM platform of Salesforce is used by more than 150,000 companies globally. This American cloud-based software company is headquartered in San Francisco. Approximately 90% of the Fortune 500 are Salesforce customers. Salesforce is the fastest growing among the top five enterprise software companies in the world. Salesforce empowers companies around the world to adopt technologies such as cloud, mobile, social, blockchain, and artificial intelligence to connect customers in the digital world. The Customer 360 platform enables digital transformation for companies by means of connecting customer data across systems, apps, and devices to facilitate companies sell, service, market, and conduct commerce from anywhere in the world. Customer 360 service offerings are configured easily and can be integrated with other platforms and enterprise applications. Through direct sales and partners, the company sells the products primarily on a subscription basis. Salesforce also allows third parties to use its platform and developer tools to create additional functionality and new applications which can be run on salesforce platform. Free streaming service, Salesforce+, is empowering millions of people around the world with live, on-demand content. An amount of $1000 invested on December 22, 2014, in the stock would have grown to an amount of $2215 by December 30, 2022. The total revenues increased by 58% on an average basis during the period 2018–2022.

Newmont Corporation is primarily a gold producer with operations and assets spread out in different countries such as the USA, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. By December 2020, Newmont had attributable proven and probable gold reserves of 94.2 million ounces. The company also possessed an aggregate land position of approximately 58,900 square kilometers. The company is also involved in the production of copper, silver, lead, and zinc. Newmont Corporation was incorporated in the year 1920 and completed its 100th year in 2021. Newmont is among the top 10% of S&P 500 large cap dividend payers. The company is the only gold producer listed in the S&P 500 Index. Newmont has the largest market share of approximately 6% of the estimated total worldwide mined gold production. The total cumulative monthly return for the Newmont stock was 59% while the returns for S&P 500 index were 48% during the period 2018–2022.

HarborOne Bancorp is a bank holding company and the parent of HarborOne Bank, the state-chartered savings bank. HarborOne Bank is headquartered in Massachusetts. The bank has 31 branches in eastern Massachusetts and Rhode Island with commercial lending offices in Boston and Providence. The bank was established in the year 1917 as a state-chartered credit union which was converted to a state-chartered cooperative bank during 2013. HarborOne became a state-chartered savings bank on March 17, 2020. The bank provides a variety of financial services to individuals and businesses online through its 30 full service branches located in Massachusetts and Rhode Island. The bank also provides a range of educational services through “HarborOneU” with classes on small business and financial literacy. HarborOne Mortgage LLC, the wholly owned subsidiary of the bank, is a residential mortgage company headquartered in New Hampshire with offices in Massachusetts, Rhode Island, and New Hampshire. By December 31, 2021, the company had 635 full-time equivalent employees. In 2021, the bank made a record in terms of $3.6 billion in new loans and approximately $900 million in commercial originations.

Netflix Inc., the American subscription video on-demand over-the-top streaming service and production company, is based in Los Gatos, California. The company was founded by Reed Hastings and Marc Randolph. Netflix offers a film and television series library through distribution deals as well as through its own production known as Netflix Originals. Netflix Inc. is one of the world’s major entertainment service companies with approximately 222 million paid subscribers in over 190 countries. Netflix provides programs such as TV series, documentaries, feature films, and mobile games in different genres and languages. The company has focused on adding programming mix of new content over the years for the delivery of streaming entertainment. Netflix has reduced or avoided more than 14,000 MT of greenhouse gas emissions. The total monthly cumulative return for Netflix stock and market index Nasdaq Composite was 73% and 58% during the period 2018–2022. The average book value of equity as percent of market value of equity was 7.2% during the period 2018–2022.

CapStar Financial Holdings Inc., a Tennessee corporation, is a bank holding company headquartered in Nashville, Tennessee, USA. The company operates primarily through its wholly owned subsidiary, CapStar Bank. CapStar Bank was incorporated in the State of Tennessee in the year 2007 and acquired a state charter in the year 2008. The products and services offered by the bank include commercial and industrial loans to small and medium-sized companies, mortgage banking products and services, private banking and wealth management services, correspondent banking services, retail and consumer products, etc. By December 2021, the bank had total assets of $3.1 billion and total deposits and total net loans of $2.7 billion and $1.9 billion, respectively. As of December 31, 2021, the company had employed 397 employees. CapStar offers a broad range of commercial lending products to small and medium-sized businesses and high net worth individuals. The commercial and industrial lending products consist of commercial loans, business term loans, equipment financing, and lines of credit targeted for both small and medium-sized business firms. First mortgage loans are the major consumer lending products which are typically thereafter sold on the secondary market. CapStar offers second mortgage home equity mortgage loans and consumer-related loans such as loans for automobiles. The four strategic pillars of growth for the company are based on enhancement of profitability and earning consistency, organic growth, sound risk management, and disciplined capital allocation. During the 5-year period 2018–2022, the average growth rate of total assets, cash investments, and deposits were 14%, 39%, and 16%, respectively.

Teradyne, Inc., is a major global supplier of automation equipment for test and industrial applications. The company was established in the year 1960. Teradyne is involved in the designing, developing, manufacture, and sale of automatic test systems which are used to test semiconductors, data storage, and complex electronic systems. The products of Teradyne are used in different industrial sectors such as consumer electronics, wireless, automotive, industrial, computing, communications, aerospace, and defense industries. The industrial automation products offered by the company include collaborative robotic arms, autonomous mobile robots, and advanced robotic control software. These automation products are used by global manufacturing, logistics, and light industry sector firms to enhance manufacturing and material handling efficiency and to lower manufacturing and logistics costs. The automatic test equipment and industrial automation products and services offered by Teradyne consist of semiconductor test systems, storage, system level test systems, defense/aerospace test instrumentation and systems, circuit board test and inspection systems, wireless test systems, and industrial automation products. The industrial automation segment of Teradyne consists of Universal Robots which is a leading supplier of collaborative robotic arms. Mobile Industrial Robots is a leading manufacturer of autonomous mobile robots (AMRs) for industrial automation. AutoGuide LLC is a manufacturer of high payload AMRs. The corporate strategy of the company focuses on expanding the market share in the test businesses through the introduction of differentiated products in the industrial automation business segment. An investment of $1000 made in Teradyne stock on January 3, 1975, would have led to wealth creation of $ 265,230.78 by January 29, 2023.The average growth rate of total revenue and net income were 16% and 44%, respectively during the period 2017–2021.

Century Communities was incorporated in the year 2002. The company is the ninth largest homebuilder in the USA. The company went public in the year 2014. The company is the number one fastest growing public builder during the period 2017–2019. The common shares are traded on New York Stock Exchange under the symbol “CCS.” By 2021, the company has operations in 17 states of the USA and in over 40 markets. The company is involved in different aspects of homebuilding such as acquisition, entitlement, and development of land, construction, and sale of quality houses for different range of home buyers. The subsidiaries of the company such as Parkway Title, IHL Insurance Agency, and Inspire Home Loan subsidiaries offer financial services like insurance and lending services. Inspire originates mortgage loans primarily for the homebuilding customers of Century. The company made 9452 new home deliveries in the year 2020. In 2021, Century delivered 10,805 homes and the net new home contracts were a record 12,017 contracts. Approximately 75% of the deliveries were made to entry-level home buyers and 87% of the homes delivered were built as move-in ready homes. Century Communities have consistently made profits for the past 18 years. The company made $3.2 billion in total revenues in the year 2020. Century’s main focus is on the development and sale of single-family homes along with the construction of townhomes, condominiums, and multifamily housing. The land pipeline of the company amounted to approximately 80,000 lots by 2021. Since 2013, Century has expanded geographically through the acquisitions of other homebuilders and organically grown through entry into new markets. The company focuses on diversified product strategy to offer an extensive product offering to entry-level to first- and second-time move-up buyers and lifestyle home buyers.

SSR Mining Inc. is a leading precious metals mining company with four producing assets located in the USA, Turkey, Canada, and Argentina. SSR Mining Inc. was incorporated in British Columbia, Canada, in the year 2005. The predecessor companies have been incorporated in year 1946. SSR Mining produces gold ore as well as copper, silver, lead, and zinc concentrates. In the year 2021, the company’s produced 794,000 gold equivalent ounces. The company has a strong balance sheet with over $ 1 billion in cash and cash equivalents by December 31, 2021. SSR Mining Inc. is listed under the ticker symbol SSRM on the Nasdaq Capital Market and Toronto Stock Exchange and SSR on the Australian Stock Exchange. The operations of the company are based in four operating mine sites—Çöpler Gold Mine, Turkey, Marigold Mine, located in Nevada, USA, Seabee Gold Operations, Canada, and Puna Operations, Argentina. By December 31, 2021, the company has employed approximately 2429 full-time employees and 1608 contract employees. The holding period return for SSR Mining Inc. is 101%, while the holding period return for S&P/TSX Global Gold Index and S&P 500 Gold (Sub Ind) is 50% and 87%, respectively during the period 2016–2021. The total revenue and net income grew by 40% and 66% during 2017–2021 period.

Merchants Bancorp is a diversified bank holding company headquartered in Indiana, USA. The company was founded in 1990 as a mortgage banking company which provides financing for multifamily housing and senior living properties. Merchants Bancorp operates different lines of business such as Federal Housing Administration, multifamily housing, healthcare facility financing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending, and community banking. Merchants Bank is also a syndicator of low-income housing tax credit and debt funds. The strategy of the bank is to create a diversified financial services company at national level through mortgage banking and related services and locally through community bank. The bank focuses on organic growth.

The Boston Beer Company along with its subsidiaries is involved in the production and selling of alcoholic beverages mainly in the USA and in select international markets. The Boston Beer operates under different trade names such as “the Boston Beer Company®,” “Twisted Tea Brewing Company®,” “Hard Seltzer Beverage Company,” “Angry Orchard® Cider Company,” “Dogfish Head® Craft Brewery,” “Dogfish Head Distilling Co.,” “Angel City® Brewing Company,” “Coney Island® Brewing Company,” and “Bevy Long Drink Co.” The company produces alcoholic beverages such as hard seltzer, malt beverages, and hard cider. These products are produced in company-owned breweries and its cidery and through contract arrangements at other brewery locations. The company’s four primary owned breweries are located in Boston, Massachusetts, Ohio, Delaware, and Pennsylvania. The company also produces distilled spirits and spirits based ready-to-drink beverages in small quantity. The company also owns five smaller local breweries which focuses on brewing and packaging beers for retail sales. Boston Beer’s hard seltzers, beers, and hard ciders are basically positioned as high-end category characterized by higher price, quality, image, and taste compared to regular domestic beer. Boston Beer is one of the largest suppliers in the high-end category in the USA. The market share of high-end category is approximately 38% in the beer market, and the company has 11% market share in the high-end category. The value chain of Boston Beer expands from a network of 150 suppliers to millions of consumers around the world. The network of distributors includes more than 400 US wholesalers and group of foreign wholesalers who sell the products to retailers. The company has more than 70 third-party logistics partners which transport the products to retail customers through road, rail, and intermodal transport methods. The company also has contract manufacturing agreements with third-party breweries and packaging facilities. The total cumulative monthly return for Boston Beer stock was 131% compared to the cumulative returns of 41% for market index S&P 500 Beverages Index during the period March 2018–Jan 2023.

Emergent BioSolutions is a global life sciences company involved in providing innovative and responsive solutions for public health threats for nearly 25 years. Emergent BioSolutions manufactures a pipeline of innovative vaccines and therapeutics worldwide. Emergent was established as a private company with a single product and a single location. Over the years, Emergent has transformed itself into a flourishing global company. The portfolio of solutions provided by Emergent consists of a product portfolio, product development portfolio, and CDMO services portfolio. The public health threats addressed by Emergent can be categorized into five categories of (1) chemical, biological, radiological, nuclear, and explosives (CBRNE), (2) emerging infectious diseases (EID), (3) travel health, (4) public health crisis, and (5) acute, emergency, and community care. Emergent BioSolutions focuses on building leadership position in the management of public health threats by strengthening the portfolios of MCMs, travel health, and CDMO services. The company has undertaken a number of mergers and acquisition to expand into new markets and provide a differentiated R&D pipeline.

Alarm.com was established in the year 2000. It is a leading platform for intelligently connected property which offers a complete suite of cloud-based solutions for smart residential and commercial properties consisting of interactive security, video monitoring, intelligent automation, access control, energy management, and wellness solutions. In 2021, the Alarm.com platforms processed more than 200 billion data points which were generated by over 100 million connected devices. The solutions offered by Alarm.com are delivered through a well-established network of over 10,900 trusted service providers. The company receives license revenue from service provider partners for its Software-as-a-Service or Saas. These service partners resell these services and pay Alarm.com monthly fees. The company also receives revenues through the sale of its hardware products such as video cameras, video recorders, gunshot detection sensors, gateway modules, and smart thermostats. The interactive security system is used by smart home and business subscribers. Alarm.com provides indoor and outdoor video cameras for residential and commercial properties. The company also offers video management software and cameras for enterprise commercial applications through its OpenEye business. The cloud-based platforms provided by Alarm.com provide subscribers with a single point of integrated control across a diverse ecosystem of IoT devices. The total cumulative monthly returns for Alarm stock were 82%, while for the market index Nasdaq Composite, the cumulative monthly return was 64% during the 5-year period March 2018–February 2023.

StoneX is a global financial services network company which provides digital platforms, end-to-end clearing, and execution services for connecting companies, traders, and investors to the global market ecosystem. The subsidiaries of StoneX connect clients to the global markets' ecosystem with institutional grade market access, end-to-end clearing, and execution. The company offers vertically integrated product suite. The company is involved in the entire lifecycle of a trade which starts from market expertise and on-the-ground intelligence to best execution and the final stage involves post-trade clearing, custody, and settlement services. The company serves more than 54,000 commercial, institutional, and global payment clients and over 400,000 retail accounts located in more than 180 countries. The company is involved in making markets in over 16,000 equities on the NYSE, NASDAQ, OTC markets, and exchange traded funds and over 7000 ADRs, GDRs, and foreign securities. StoneX is one among the eight Category One ring dealing members of the London Metals Exchange.The company has built a scalable platform to provide end-to-end global payment solutions to banks and commercial businesses, charities, NGOs, and government institutions. The company offers payment services in over 140 currencies. The company focuses on technology and digitization as strategic objectives for growth. StoneX has a disciplined focus on strategic acquisitions to complement organic growth. The total cumulative monthly returns for StoneX were 115% compared to 53% returns registered by the market index S&P 500 during the period March 2018–February 2023.

Cigna is a global health services company with more than 190 million customer and patient relationship and presence in 30 countries. The company is one of the oldest with a history of more than 225 years of existence. The company supports individuals to maintain, improve, or recover their physical or mental health through behavioral and lifestyle changes, affordable and effective medication options, and targeted medical and surgical interventions. The company has over 1000 health coaches to assist people to meet health goals and lifestyle changes. The differentiated set of pharmacy, medical, dental, and supplemental products and services is offered through two brands—Cigna and Evernorth. The company offers a broad portfolio of solutions and services, integrated behavioral, medical and pharmacy management solutions, specialty pharmacy, clinical and care management expertise and advanced analytics for engaging individuals, plan sponsors, and provider partners. The total revenues and net income increased by 58% and 37%, respectively, during the period 2018–2022.

Paylocity is a leading cloud-based provider of human capital management (HCM) and payroll software solutions. The comprehensive platform offered by the company facilitates companies to automate their HR and payroll processes. The company provided its software-as-a-service or SaaS solutions to approximately 33,000 clients across the United States which had an average of 100 employees. The platform offered by Paylocity is basically a single-employee system of record that supports the entire employee lifecycle comprising Talent, Payroll, Core HR, Workforce Management, and Benefits system. The platform centralizes payroll and HCM databases. The platform provides tools to communicate, connect to organizations, and facilitate career development and growth. The dashboards of the company use advanced Artificial Intelligence to improve efficiency and build a healthier workforce. The comprehensive software solutions offered by Paylocity are supplemented with an integrated implementation and client service organization. The software solutions of Paylocity offer clients automated data integration with hundreds of third-party partner systems such as 401(k), benefits, and insurance provider systems. Paylocity uses a direct sales force to market and sell its products. The company uses its extensive referral network of 401(k) advisors, benefits administrators, insurance brokers, third-party administrators, and HR consultants for sales lead generation. The total monthly cumulative return for Paylocity stock was 193% compared to 52% registered by the market index S&P 500 during the period March 2018–February 2023. The average book value of equity as a percent of market value of equity was 4.5% during the period 2018–2022.

SS&C Technologies Holdings is the world’s largest hedge fund and private equity administrator. The company is also the largest mutual fund transfer agent in the world. It was founded in the year 1986 and employs over 24,000 employees globally. The company has 125 offices in 94 cities. The company has over 20,000 clients which spans in the health and financial services industries. The unique model of the company combines end-to-end expertise across financial services operations with software and solutions to customers in the financial services and healthcare industries. SS&C supports the technology-enabled operations related to securities accounting, front-to-back office operations, performance and risk analytics, regulatory reporting, and healthcare information processes. SS&C Technologies provides a multitude of software-enabled outsourcing services and subscription based on demand cloud solutions for the global financial services industry. The proprietary software system offers comprehensive fund administration services to alternative and traditional asset managers such as fund manager services, transfer agency services, funds-of-funds services, tax processing, and accounting. Clients are offered the flexibility to choose from multiple software delivery options which include on-premise applications and hosted, multi-tenant, or dedicated applications. Clients are also offered targeted, blended solutions that are based on a combination of software and software-enabled services. The company also serves the healthcare industry through its SS&C Health services and technology-enabled business. The suite of solutions offered by SS&C basically pans across health plan operations. The options offering includes core claims processing, operational software, and high-value applications meant for value-based payment and total cost management. SS&C apply modern technology to medical and pharmacy claims processing, data, and analytics to its market segments consisting of health plans and pharmacy benefit manager. During the past 27 years, the company made approximately 59 acquisitions.

Hibbett is a leading athletic fashion retailer with approximately 1100 stores under the Hibbett and City Gear banners. The company was founded in the year 1945 and is headquartered in Birmingham, Alabama. Hibbett offers personalized customer service and access to footwear, apparel, and equipment from top brands such as Nike, Jordan, and Adidas. By January 2022, Hibbett owned approximately 1096 retail stores consisting of 900 Hibbett stores, 179 City Gear stores, and 17 Sports Additions athletic shoe stores. These stores are located in 35 states across the United States. By 2022, the store base of Hibbett consists of 833 stores located in strip centers, 32 free-standing stores, and 231 enclosed mall locations. Consumers can make new purchases, browse, and find new information through its website www.hibbett.com . The purchases can be made online or by visiting the nearest store of the company. By January 2022, Hibbett employed approximately 11,000 team members of which 3600 were full-time team members. Over 92% of the total population work in retail locations. None of the team members were represented by a labor union. The Moonan family has owned the Hibbert and its predecessors since the 1930s. The stores of Hibbett offer a core merchandising mix of premium athletic branded footwear, accessories, and team sports equipment which are designed for GEN-Z customers within each market. The focus of the company is on meeting the fashion and technical demands of its customers. The company targets the underserved markets with branded products and gives special attention in terms of providing a high level of customer service.

LGI Homes, Inc. is a Delaware corporation incorporated in the year 2013. LGI Homes is involved in the design, construction, and sale of new homes in different markets in the United States. The management team of the company has been in the residential land development business from the mid-1990s onward. The company commenced homebuilding operations in the year 2003. Over the past two decades, LGI Homes has constructed and closed over 50,000 homes. By 2021, the company has made 10,442 home closings. LGI Homes had its initial public offering in the year 2013. Over the past decade, the company has expanded its presence from nine markets in four states to 35 markets in 19 states in the United States. The company focusses on geographical expansion as a part of its growth strategy. LGI Homes has a diversified multiple entry-level product offerings such as attached and detached homes, active adult offerings. The active adult offerings are sold under the LGI Homes brand. The luxury series homes are sold under the Terrata Homes brand. The wholesale business unit builds and sells houses to corporates who are looking to acquire multiple homes for rental purposes through bulk sales agreements. LGI Mortgage Solutions facilitates sources of finances for the customers. By 2021, 93 active communities possessed the LGI Homes brand. Eight communities had the Terrata Homes brand. In 2021, the LGI Homes had closed 183 Terrata Homes with an average sales price per home of $482,410. By December 31, 2021, the company employed 952 people. LGI Homes focusses on a flexible land acquisition strategy of either purchasing/optioning finished lots at attractive prices or purchase of raw land for residential development. The total monthly cumulative returns for the LGI Homes stock was 113% compared to 52% for the market index S&P 500 during the period March 2018–February 2023.

Align Technology is a global medical device company, which is involved in the design, manufacture, and marketing of Invisalign® clear aligners, iTero® intraoral scanners and services for dentistry, and exocad® computer-aided design and computer-aided manufacturing (“CAD/CAM”) software for dental laboratories and dental practitioners. Consumer products that are complementary to principal products prescribed by doctors are also sold by the company mainly under the Invisalign brand. The consumer products sold by Align Technology include retainers, aligner cases (clamshells), teeth whitening products, and cleaning solutions. The company is focused on positioning itself as the main treatment provider preferred by orthodontists and general dental practitioners. The products are sold through a specialized sales force to its customers consisting of orthodontists, general practitioner dentists, aesthetic dentists, oral surgeons, and dental laboratories. The products are also sold to Dental Support Organizations. The manufacturing facilities for aligner fabrication and distribution are located in Mexico and China. The digital treatment planning facilities are located globally in regions which includes Costa Rica, China, Germany, Spain, and Japan. By December 2021, the company had approximately 22,540 employees. The company has made its presence in more than 100 countries either selling directly or through authorized distributors. By the end of December 2021, Align Technologies had 642 active US patents, 724 active foreign patents, and 736 pending global patent applications. The total cumulative monthly return for Align Technology stock was 91% compared to the cumulative monthly return of 52% registered by the market index S&P 500 Healthcare Equipment and Supplies Index during the 5-year period March 2018–February 2023. The average book value of equity as percent of market value of equity was 7.8% during the period 2018–2022.

Adobe is involved in the game-changing innovations for enhancing digital experiences by adding millions of new customers, delivering billions of experiences across screens, and processing trillions of data transactions online. Adobe is in the Fortune’s Best Companies to Work in list for the past 21 years. Adobe was founded by Charles Geschke and John Warnock in the year 1982. Adobe is one of the largest and most diversified software companies in the world. Adobe offers a line of products and services which are used by professionals like photographers, video editors, designers and game developers, content creators, and knowledge workers. Adobe licenses its products to end users through its own app stores and own website at www.adobe.com. Adobe offers many products via a Software-as-a-Service (SaaS) model or managed services model which could be through hosted or cloud-based through term subscription and pay-per-use models. Over 90% of the world’s creative professionals use Adobe Photoshoot. Adobe Stock offers over 320 million assets. These assets include over 195 million photos, 98 million vectors and illustrations, 24 million videos, 70,000 music tracks, 5.1 million premium assets, and over 850,000 plus free photos, vectors, videos, and templates. Within the Adobe Document Cloud business, Adobe Acrobat had a strong leadership in document-intensive industries such as government, financial services, pharmaceutical, legal, aerospace, insurance, and technical publishing. In 2021, it was estimated that more than 400 billion PDFs were opened in Adobe products. Over 8 billion electronic and digital signature transactions were processed through Adobe Document Cloud in the year 2021. Most Fortune 100 companies rely on Adobe Sign for fast and secure e-signatures. The average book value of equity as percent of the market value of equity was 5.4% during the period 2018–2022.

Business First Bancshares is the financial holding company and the parent company of Business First Bank (b1BANK), a state banking association and community-based financial institution which provides a full array of banking products and services. The b1 Bank is a commercial bank chartered under the laws of the State of Louisiana and was established in the year 2006 to support entrepreneurs and small community businesses. By December 31, 2021, Business First had total assets of $4.7 billion, total loans of $3.2 billion and total deposits of $4.1 billion. The company is listed on the Nasdaq Global Select Market under the symbol BFST. As of December 31, 2021, Business First had 648 full-time and 18 part-time employees. Business First Bank offers products such as checking, savings and money market accounts, certificates of deposit, commercial and consumer loans, mortgage loans, real estate loans, and term loans. b1Bank also offers wealth management products, drive-through banking facilities, automated teller machines, night depository, credit and debit cards, Internet banking, electronic funds transfers through ACH services, domestic and foreign wire transfers, cash management, vault services, loan and deposit sweep accounts, and lock box services. The total monthly cumulative return for Business First stock was 12.2% compared to the market index S&P 500 returns of 49% during the period March 2018–February 2023.

Take Two Interactive Software is a global leading developer, publisher, and marketer of interactive entertainment for consumers. The company develops and publishes products basically through Rockstar Games, 2 K, Private Division, and T2 Mobile games. The products offered are designed for console gaming systems for Sony PlayStation®4 (“PS4”) and PlayStation5 of Sony Computer Entertainment Inc. and for Xbox One® (“Xbox One”) and Xbox Series X|S (“Xbox Series X|S”), and Nintendo’s Switch (Switch) of Microsoft. The products are also designed for personal computers, mobile, smartphones, and tablets. The products are offered through physical retail, digital download, online platforms, and cloud streaming services. The company derives revenues mainly from the sales of internally developed software titles and software titles developed by third parties. The company has internal development studios located in Australia, Canada, China, the Czech Republic, Hungary, India, Serbia, South Korea, Spain, the United Kingdom, and the United States. Agreements with third-party developers give the company exclusive publishing and marketing rights and the company makes development payments and pays royalties based on product sales. The company has entered into license agreements with Sony and Microsoft to develop and publish software in Asia, Australia, Europe, North America, and certain Latin American, Middle Eastern, and African countries. By March 2022, the company employed 7799 employees of which 3812 were employed outside of the United States. The company has adopted differentiation strategy to offer products that combine advanced technology with unique gameplay experiences for consumers. The average growth rate in revenues and net income were 19% and 33% during the period 2018–2022.

MarineMax is the world’s largest recreational boat and yacht retailer which sells new and used recreational boats, yachts, and marine-related products and services which include yachts, yacht concierge, and superyacht services. MarineMax was incorporated in January 1998. The company commenced operations with the acquisition of five independent recreational boat dealers on March 1st, 1998. The company is located globally with operations in more than 125 locations. The company has 78 dealerships and 57 marinas. The integrated business division of the company operates luxury marinas in yachting and sport fishing destinations around the world. MarineMax is the largest superyacht service provider with brands such as Fraser Yachts and Northrop & Johnson. Cruiser Yachts is involved in the manufacturing of boats and yachts and sells the products through retail dealership locations and independent dealers. Powerboats are manufactured by Intrepid Powerboats and are sold through a direct-to-consumer model. The wholly owned subsidiaries of MarineMax provide finance and insurance services. The company also owns Boatyard, a well-known digital product company. SkipperBud’s is one of the largest boat sales, brokerage, service, and marina/storage groups in the United States. The Retail Operations segment sells new and used recreational boats which includes pleasure and fishing boats with a focus on premium brands. The company also sells related marine products which include engine trailers, parts, and accessories. The company also provides repair, maintenance, and slip and storage services. MarineMax facilitates boat financing, insurance, and extended service contracts along with boat and yacht brokerage sales and yacht charter services. The Product Manufacturing segment includes wholly owned subsidiaries such as Cruisers Yachts and Intrepid Powerboats. Cruisers Yachts is one the world’s premier manufacturers of premium sport yachts and yachts. Intrepid Powerboats is a producer of customized boats with a focus on innovation and high-quality craftsmanship. The company is also the largest retailer of Se Ray and Boston Whaler recreational boats which are manufactured by Brunswick Corporation. By September 2022, the company had 3410 employees of which 933 were employed in the yacht manufacturing operations. In the year 2021, the US recreational boating industry had revenues of $56.7 billion in retail sales. The company has never declared or paid cash dividends on its common stock. The company has adopted differentiation strategy to offer products that combine advanced technology with unique gameplay experiences for consumers. The average growth rate in revenues and net income were 19% and 33% during the period 2018–2022. The total monthly cumulative return for the stock was 98% compared to 37% returns registered by market index Russell 2000 during the period April 2018–March 2023.

Fox Factory Holding Corp. incorporated in Delaware in 2007 is the holding company of Fox Factory which designs and manufactures products and systems that are used on bicycles, trucks all-terrain vehicles (ATVs), snowmobiles, Specialty vehicles, motorcycles, and commercial trucks. Fox Factory, Inc., the operating subsidiary, was incorporated in California in 1978. Some of the products are specifically designed for leading cycling and powered vehicle original equipment manufacturers and the rest of the products are distributed to consumers through a global network of dealers and distributors. The stock is traded on the Nasdaq Global Select Market under the symbol “FOXF.” Fox Factory operates in over 20 global locations with state-of-the-art manufacturing facilities, R&D technology centers, administrative offices, and customer support centers. The products of the company are technologically advanced products and offer innovative design, performance, durability, and reliability. The OEM customers of the company include Giant, Merida, Orbea, Kemstone Metal, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles under Specialty Sports segment. In the Powered Vehicles segment BRP, Ford, Polaris, Toyota, 4 Wheel Parts, Kawasaki, Yamaha, and Honda are the major customers of the company. Fox’s products for bicycles are basically used for mountain bikes, road bikes, and e-bikes. The products for powered vehicles are used side by side, on-road and off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles, military vehicles, motorcycles, and commercial trucks. The company offers premium-priced products which are well-designed and performance-focused equipment. By December 2021, the company had employed approximately 4100 employees in the United States, Canada, Europe, Taiwan, and Australia. The total cumulative monthly return for Fox stock was 197% compared to 51% returns accounted for the market index S&P 500 during the 5-year period April 2018–March 2023.

Charles River Lab is a non-clinical Contract Research Organization headquartered in Wilmington, Massachusetts and provides a full suite of products and services that span from target identification and discovery through non-clinical drug development and manufacturing. Charles River Laboratories was founded in the year 1947. The company was incorporated in the year 1994 and completed its IPO in the year 2000. In 2021, Charles River was added to the Standard and Poor’s 500 Stock Index (S&P 500). The stock is traded on the New York Stock Exchange under the symbol CRL. The company is also included in the Dow Jones US Health Care Index, the New York Stock Exchange (NYSE) Arca Biotechnology Index, the NYSE, and Russell indexes. The clients of the company include leading pharmaceutical, biotechnology, agricultural and industrial chemical, life science, veterinary medicine, medical device, diagnostic and consumer product companies, contract research and contract manufacturing organizations, commercial entities, leading hospitals, and government agencies. The company has operations in 100 plus locations in over 20 countries. The average growth rate of revenues and net income were 15% and 22% during the period 2018–2022.

Spirit of Texas Bancshares, Inc. is a registered banking holding corporation with headquarters in Texas. The corporation offers a wide range of commercial and retail banking services through the wholly owned bank subsidiary, Spirit of Texas Bank SSB. The Corporation has operations in 38 locations in Houston, Dallas/Fort Worth, Bryan/College Station, San Antonio-New Braunfels, Corpus Christi, Tyler, Austin metropolitan areas, and North Central Texas. Spirit of Texas offers relationship-driven financial services to small and medium-sized businesses with annual revenues in the range of $3 million to $30 million. The bank offers a wide range of commercial products such as term loans, operating lines of credit to commercial and industrial firms, commercial real estate loans, construction and development loans, SBA loans, commercial deposit accounts, and treasury management services. The retail offerings of the bank include consumer loans, 1–4 single-family residential real estate loans, and retail deposits. Spirit of Texas Bank is the sole banking subsidiary of Bancshares Corporation. The total assets, gross loans, and deposits increased by 32%, 31%, and 35%, respectively, during the period 2018–2021.

DuPont de Nemours, Inc. is a publicly traded premier global multi-industrial innovation leader with technology-based materials, solutions, and expertise. The company delivers essential innovations in key markets such as electronics, transportation, construction, water, healthcare, and worker safety. In June 2019, DowDuPont Inc. changed its registered name to DuPont de Nemours, Inc. (“DuPont”). In 2015, Dow Chemicals and DuPont merged to form Dow DuPont. In 2019, the Company completed the separation of the materials science business through the spin-off of Dow Inc. The combination of the highly complementary portfolios of Dow and DuPont was intended to create a leadership position for the combined company. By December end of 2022, the Dupont company owned about 14,000 patents and patent applications globally. The company has subsidiaries in over 60 countries and manufacturing operations in 25 countries. By 2021, DuPont worked with over 100,000 suppliers worldwide and had spent approximately $11.9 billion on supplier front. The major product lines of Electronics and Industrial segment are classified into Semiconductor Technologies, Interconnect Solutions, and Industrial Solutions. The major product lines of Water & Protection segment include Safety Solutions, Shelter Solutions, and Water Solutions.

M/I Homes is one of the leading builders of single-family homes in the USA. The company initiated home building activities in the year 1976. The company has sold over 143,400 homes over these years since its establishment. The operations of the company consist of homebuilding and financial services. The home building operations constituted approximately 98% of the consolidated revenues in the year 2021 and 2022, respectively. The financial services segment offers mortgage loans and title services to the customers of the home building operations. M/I Homes design, market, construct, and sell single-family homes and attached townhomes to first time, move up, empty nester and luxury buyers. The company focusses on construction of homes in planned development and mixed-use communities. M/I Homes offer homes for sale in 196 communities within 17 markets which are located in ten states in the USA. The average sales prices of homes delivered by the company in year 2022 was $479,000. The company’s financial services operation segment generates revenues basically from origination and sales of mortgages and collection of fees for title insurance and closing services. The company offers mortgage banking services to home buyers through 100% owned subsidiary, M/I Financial, LLC. By December 2022, the company employed 1663 people in home building operations. On average basis, the total revenues and net income increased by 16% and 49%, respectively during the period 2018–2022.

SLM Corporation known as Sallie Mae is a premier education solutions company which caters to the needs of students in higher education sector. The company provides tools, resources, and information to facilitate students and families make informed decisions and support college completion through its scholarship programs and financing options. The company has been in existence for more than 50 years. The company which operates as Sallie Mae was formed in late 2013. The wholly owned subsidiary Sallie Mae, an industrial bank was established in year 2005. During April 2014, SLM got legally separated through spin off from Navient Corporation which is in the education loan management, servicing, asset recovery and consolidation loan business. The 5-year holding period return for the SLM stock was 56% while for S&P Supercomposite and S&400 Regional Bank Sub-Industry index, the holding period returns were 26% and 22%, respectively.

MYR Group’s oldest subsidiary The L E Myers Co was established in the year 1891. The company has been an industry leader for more than 130 years. Throughout the early 1900s, L E Myers had played an instrumental role in building the national’s electrical infrastructure. In the year 1953, L E Myers had built US’s first 345 Kv transmission lines for the Ohio Valley Electric Corporation. During the 1990s, L E Myers acquired Sturgeon Electric and Harlan Electric. In 1995, MYR Group Inc. was established as the holding company of L E Myers, Sturgeon Electric and Harlan Electric. MYR Group became one of the largest holding companies of specialty electrical contractors in the USA and Canada. The company went public in year 2008 and began trading on NASDAQ under the symbol MYRG. Through the subsidiaries, the company cater to the needs of electric utility infrastructure, commercial and industrial construction markets. The operations of the company are conducted through wholly owned subsidiaries. Electrical construction services are provided through network of local offices which are established in the USA and Canada. The company provides a wide range of services such as design, engineering, procurement, construction, upgrade along with maintenance and repair services. By December 31, 2022, the company employed 8500 people. The company is among the top five engineering special electrical contractors in the USA for the past 25 years in a row. The primary business of SLM is to originate and service high quality private education loans. These education loans are provided to students and families who are not insured or guaranteed by any state or federal government. SLM also offers range of deposit products which are insured by the Federal Deposit Insurance Corporation. The company originated $6 billion of private education loans in the year 2022. By December 31, 2022, SLM had $19 billion of private education loans as part of its investment portfolio. SLM focuses basically on students who are enrolled for public and private not-for-profit 4-year degree granting institutions. The 5-year holding period return for MYR Group stock was 158% compared to holding period return of 57%, 22%, and 101% for S&P500, Russell 2000, and Peer Group during 2017–2022.

IES Holdings Inc. was established in year 1997 and headquartered in Houston, Texas. The company designs and installs integrated electrical and technology systems and provides infrastructure products and services to end markets such as data centers, residential housing, and commercial and industrial facilities. By September 2022, the company had 8078 employees. The communication segment is a major provider for network infrastructure solutions for data centers and missions involving critical environment. The company offers services such as design, installation, and maintenance of network infrastructure for leading Fortune 100 and 500 firms. The residential segment provides electrical installation services for single family houses, multi-family apartment complexes. The Infrastructure Solutions segment offers electromechanical solutions for industrial operations. The Commercial and Industrial segment provides electrical and mechanical design, service and construction services to commercial and industrial markets. The 5-year holding period return for IES stock was 60% compared to the holding period returns of 19% and 93% for Russell 2000 and the Peer Group during 2017–2022.

Veritex is a state banking organization based in Texas. Veritex Holding is the parent holding company of Veritex Community bank. The bank commenced banking operations in the year 2010. The bank offers a wide range of banking services which include commercial and retail lending, checking and savings deposit products to individual and corporate customers. The current primary market for the bank includes Dallas-Fort Worth metroplex and the Houston metropolitan area. Community banking is the reportable segment of the company and generates revenues basically from interest income on loans, customer service and loan fees, gains on sale of government guaranteed loans and mortgage loans, and interest income from securities investment. The customers of the company include small- and medium-sized businesses with annual revenues of less than $30 million. The company has its IPO in the year 2014. Vertex bank is one among the ten largest banks headquartered in Texas. By December 2022, the bank had 763 full-time employees. The 7-year holding period return for Veritex Holding Inc. was 101% while for the peer group and Nasdaq Bank Index, the 7-year holding period return were 84% and 66%, respectively.

The First Bancshares Inc., founded in year 1996, is the parent company of The First, A National Banking Association. The First Bancshares operations are based in Mississippi, Louisiana, Alabama, Georgia, and Florida. The company’s stock is traded on NASDAQ Global market under the symbol FBMS. As of December 31, 2022, the First had operations in 90 locations which are based in Mississippi, Alabama, Florida, Georgia, and Louisiana. The First is a community-based financial institution which offers a full spectrum of financial services to individuals, businesses, municipal establishments, and nonprofit organizations. The services offered include consumer and commercial loans, deposit accounts, and safe deposit services. In Jan 2022, the First converted from a national banking association to a Mississippi state-chartered bank and changed its name to The First Bank. By December 2022, the First Bank employed 870 employees in five states of the USA. The company focuses on strong asset quality metrics and has a well-disciplined underwriting and credit culture. The average growth rate of total assets, gross loans, and deposits were 22%, 17%, and 23%, respectively, during the period 2018–2022.

Brooks Automation is a global provider of semiconductor manufacturing and laboratory automation solutions. The company was established in the year 1978. Brooks provides precision vacuum robotics, integrated automation systems, contamination control solutions, and collaborative robots to global semiconductor chip makers and lab automation equipment manufacturers. Brooks Automation has operations in North America, Europe, and Asia. Brooks is the leading global provider of life science sample exploration and management solutions for the life sciences market. Brooks offers a broad portfolio of products and services which represents procurement and sourcing, automated storage platforms, genomic services, range of consumables, informatics, and data software along with sample management solutions. The life sciences division of the company has sales operations in more than 80 countries. This division employs 2900 people globally. In 2021, the company entered into a definitive agreement to sell its semiconductor automation business to Thomas H Lee Partners for approximately $3 billion. The remaining business consisting of Life Science products and Life Science Services were to be rebranded under a single unified brand Azenta Life Sciences during the first half of fiscal year 2022. In this segment the company serves over 8700 customers globally in the pharmaceutical and biotechnology industry. The 5-year holding period return for Brooks Automation was 697% while for Nasdaq Composite and Peer group, the holding period return were 100% and 260%, respectively during the period 2016–2021.

SVB Financial Group is a diversified financial services company which is also a bank holding and financial holding company. SVB Financial was incorporated in the year 1999. The Group offers diverse set of banking and financial products and services to clients across the United States and other markets. The company offers commercial and private banking products and services through its principal subsidiary Silicon Valley Bank. The California-based Silicon Valley Bank is a chartered bank founded in the year 1983. SVB Financial group also offers asset management, private wealth management, and other investment services. By December 2022, the SVB Financial group had total assets of $211.8 billion and total investment securities of $120.1 billion. The products and services are provided by the bank and its subsidiaries to clients in sectors such as technology and life science, healthcare industries, global private equity, and venture capital. The deposits are obtained from commercial clients within the technology, life science, healthcare, private equity, and venture capital industry sector. By December 31, 2022, the company employed 8553 people.

Alphabet functions as a collection of business with Google being the leading business of the company. Alphabet was created through the restructuring of Google during October 2015 and became the parent company of Google and other Google subsidiaries. The American multinational technology company specializes in internet-related services and products. Google's products and services include online advertising technologies, search, cloud computing, and software. Google consists of two segments—Google Services and Google Cloud. All non-Google businesses are collectively termed as Other Bets. Google is continuously engaged in innovation and introduction of new products and features. The company has invested more than $100 billion in research and development in the last 5 years. As of December 31, 2022, Alphabet had 190,234 employees. Google Search facilitates people to have trillions of searches on Google every year. YouTube provides entertainment, information, and opportunities about new insights. Google Cloud facilitates customers to solve business challenges and problems. Artificial Intelligence powers Google's core products. AI facilitates Google App to search in new languages. Google products such as Lens and Translate are built using artificial intelligence technologies such as optical character recognition and machine learning. It is estimated that 4 billion photos are encrypted by Google photos daily. YouTube Shorts have over 15 billion each day globally. There are over 1 billion shopping sessions per day across Google. Google has invested over $ 7 billion in data centers and offices across the USA. Acquisition is an important strategy of growth for Alphabet. The cumulative total monthly stock returns for Alphabet was 84% compared to the returns of 61% for the Nasdaq Composite during the period May 2018–April 2023. The total revenues and net income increased by 21% and 24% on average basis during the period 2018–2022.

Malibu Boats is the major designer, manufacturer, and marketer of wide range of recreational powerboats consisting of eight Brands—Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt. The product portfolio of premium brands of Malibu is used for a broad range of recreational boating activities which include water sports, general recreational boating, and fishing. In the performance sport boat category, the Malibu and Axis brands have number one market share position in the USA. The company also has leading market share positions in the fiberglass outboard fishing boat market. The premium brands of the company are used for a range of recreational boating activities which include water sports such as water skiing, wakeboarding, wake surfing, etc. Axis boats are identified with affordable performance sport boat product category. By 2022, the distribution channel consisted of over 400 dealer locations globally. Malibu has seven manufacturing facilities located in five US states and Australia. By July 2022, the company employed 3015 employees worldwide. The total cumulative monthly return for Malibu stock was 86% during the period May 2018–April 2023.

PayPal Holdings, Inc. is a leading technology platform for digital payments for merchants and consumers worldwide. The basic aim of the company is to enable merchants and consumers to manage and make money transactions anywhere in the world in the markets, anytime, on any platform using any device while sending payments or getting paid which includes person to person (P2P) payments. The company offers services which enable customers to use their PayPal or Venmo accounts to purchase and receive payments for goods and services and provide other services such as the ability to transfer and withdraw funds. PayPal enables consumers to exchange funds with merchants using different funding sources such as bank account, PayPal or Venmo account balance, PayPal and Venmo branded credit products which include installment products, credit card, debit card, cryptocurrencies, and products such as gift cards and eligible rewards. PayPal, Venmo, and Xoom products facilitate people to transfer funds to each other. PayPal is at the forefront of digital payment revolution for over 20 years. The PayPal platform facilitates millions of people and businesses across the globe to deal with financial transactions with over 430 million active accounts composed of 392 million active consumer accounts and 34 million active merchant accounts in more than 200 markets. PayPal aims to be a trusted everyday app for consumers and an essential tool to help small- and medium-sized businesses (SMBs). In 2022, PayPal processed 22.3 billion payment transactions and $1.36 trillion in total payment volume across its platform. The company returned over $4.2 billion to stockholders through share repurchases in the year 2022 which represented 80% of its free cash flow. In 2022, PayPal processed 22.3 billion payment transactions and $1.36 trillion in total payment volume across the platforms. The company had provided access to more than $4 billion in capital through its merchant lending services. PayPal had launched PayPal Rewards and Honey extension to consumers to save money on everyday purchases. The company has enabled secure passwordless login to PayPal accounts across platforms and devices with passkeys. PayPal earns revenues primarily by charging fees for payment transactions by customers and other payment related services. Revenues are also generated from customers through fees charged for foreign currency conversion, instant transfers from their PayPal or Venmo account to their bank account or debit card. Revenues are also earned through partnerships, interest and fees from merchant and consumer credit products, interest earned on certain assets signifying customer balances, referral fees, subscription fees, and gateway services.

Mid Penn Bancorp, Inc. is a financial holding company incorporated in August 1991 and consists of the wholly owned bank and non-bank subsidiaries. In 1991, the Bank became a wholly owned subsidiary of Mid Penn. In 2020, Mid Penn established two additional non-bank subsidiaries of MPB Wealth Management LLC and MPB Risk Services LLC. By December 2022, Mid Penn had total consolidated assets of $4.5 billion, total deposits of $3.8 billion, and total shareholders’ equity of $512 million. Mid Penn’s core business consists of attracting deposits and loans from its network of community banking offices. The bank provides full service commercial banking and trust business. The bank offers wide range of financial services which include mortgage and home equity loans, secured and unsecured commercial and consumer loans, lines of credit, construction financing, farm loans, community development, and different types of time and demand deposits. During the period 2018–2022, the total assets, gross loans, and deposits increased by 24%, 22%, and 24%, respectively.

Strategic Education Inc. is an education services holding company which focuses on providing education for working adults. This education services company provides high quality education through campus-based and online post-secondary education offerings through programs for developing job ready skills. The company operates through its wholly owned subsidiaries Strayer University, Capella University in the USA and Torrens University in Australia. These subsidiaries are accredited post-secondary institutions of higher education. Education Technology Services segment offers industry relevant training, certificate, and degree programs. By December 2022, Strategic Education had employed 3907 employees globally. The strategic priorities of the company revolve around the central pillars of student success improvement, enhancement of student experience, and affordability of programs for students. During the period 2018–2022, the average growth rate of total assets, short-term investments, and total equity were 7.55%, 18%, and 37%, respectively.

Monolithic Power Systems, Inc. is a global fabless company which provides semiconductor-based power electronic solutions. The company was established in the year 1997. The mission of the company is to reduce energy and material consumption. The company offers compact and monolithic solutions for storage and computing, enterprise data, automotive, industrial, communications, and consumer applications. The company focuses on the analog and mixed signal IC market. The storage and computing market constituted the largest portion of the revenue for the company in the year 2022. The company sells its products through third party distributors, value-added resellers, original equipment manufacturers (OEMs), Original Design Manufacturers (ODMs), Electronic Manufacturing Service (EMS) providers, and other end customers. The products of the company are strategically positioned to have lower power loss and significant reductions in circuit board space. By December 2022, the company had 1557 patents/applications issued or pending. During the 5-year period, May 2018–April 2023, the average yearly return for the stock was 33% compared to the average yearly return of 13% for the Nasdaq Composite index. The average book value of equity as percent of market value of equity was 7.4% during the period 2018–2022.

Waterstone Financial, Inc. is the holding company of WaterStone Bank SSB and its subsidiaries. WaterStone Bank is a community bank which was established in the year 1921. WaterStone Bank also has an active mortgage banking subsidiary, Waterstone Mortgage Corporation, with 78 offices in 26 states in the United States. The major lending activity of WaterStone Bank involves origination of one to four family, multifamily residential, and commercial real estate loans. WaterStone Bank also offers home equity loans and lines of credit, construction and land loans, commercial business loans, and consumer loans. The sources of funds for WaterStone Bank are primarily retail deposits and home loan bank advances. The deposit offerings consist of certificates of deposits, money market savings accounts, transaction deposit accounts, non-interest-bearing demand accounts, and individual retirement accounts. The investment securities portfolio of Waterstone Financial consists of mortgage-backed securities, collateralized mortgage obligations, government-sponsored enterprise bonds, private label enterprise bonds, and other debt securities. Waterstone Mortgage Corporation originates single-family residential real estate loans for sale into the secondary market. The 5-year holding period return for Waterstone Financial, Inc. was 40% compared to 6% and 22% return for S&P Composite 1500 Thrifts & Mortgage Finance Index and Russell 2000 Index, respectively.

Willi-Food International Ltd. (Willi-Food) was incorporated in Israel in year 1994 and is a public company which is traded on the Nasdaq and Tel Aviv Stock Exchange. Willi-Food is one of the fastest-growing companies in the Israeli food and beverage market. The company specializes in high-quality kosher food products. It is one of the largest import companies in Israel. The company focusses on export, import, marketing, and distribution of more than 600 dry, chilled, and frozen food products from 30 categories which are distributed to 5000 points of sale in the retail and professional markets across Israel and Palestinian Authority. In 2018, Willi-Food established a new subsidiary, Euro Dairies. The new subsidiary imports superior-quality dairy products such as specialty cheese, semihard cheese, feta cheese, and yogurts from leading manufacturers in Europe. The company basically imports its products and produces private labels for the leading grocery retailers in Israel and importers throughout the world. These products are then distributed and marketed in the local markets. The products distributed by the company are kosher and are produced under the supervision of different kashrut institutions in Israel and abroad which included “Badatz.” In 2022, 99% of the revenues were generated in Israel. The company purchases food products from over 150 suppliers in Israel and other regions which include the Far East, Eastern Europe, South America, United States, Canada, and Southern Europe. The products of the company are marketed and sold to approximately 1500 customers and 3000 selling points in Israel. Most of the products are sold under the brand name “Willi-Food” and certain chilled and frozen products are sold under the brand name “Euro European Dairies.” The food market in Israel is very price sensitive and the company faces direct competition from local manufacturers and importers of food products. The total cumulative monthly returns for the Willi-Food stock were 85% compared to the total cumulative monthly returns of 61% for the market index Nasdaq Composite during the period June 2018 to May 2023.

KLA is a global technology leader which provides leading-edge technology and devices using advanced inspection tools, metrology systems, and computational analytics. The company provides advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards, and flat-panel displays. KLA was established as KLA-Tencor in April 1997 through the merger of KLA Instruments Corporation and Tencor Instruments. In 2019, KLA acquired Orbotech Ltd., a global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronic products. As of Jan 2023, the company has employed 14,000 people globally. During the 5-year period 2017–2022, the holding period return for KLA stock was 285% compared to the returns of 71% and 168% for the S&P 500 and PHLX Semiconductor Index, respectively. The average book value of equity as percent of market value of equity was 7% during the period 2018–2022.

Lululemon Athletica is a designer, distributor, and retailer of technical athletic apparel, footwear, and accessories. The company aims to create transformative products and experiences which offer meaningful connections. The company offers a comprehensive portfolio of products consisting of performance apparel, footwear, and accessories which are marketed under the lululemon brand. The apparel assortment portfolio offers pants, shorts, tops, and jackets which are basically designed for athletic activities such as yoga, training, and sport activities. The company also offers apparels which are designed as fitness-inspired accessories. The design and development team sources technically advanced fabrics with innovative functional features. As a part of its vertical retail strategy, the company incorporates unique performance and fashion needs into its design process. The company offers in-home connected fitness and associated content subscriptions through lululemon Studio. By end 2022, the company operated 655 stores in 18 countries across the globe. The total monthly cumulative return for lululemon stock was 146% compared to the total monthly cumulative return of 50% for the market index S&P 500 during the period June 2018 to May 2023. The average book value as percent of market value of equity was just 6.9% during the period Jan 2019 to Jan 2023.

PerkinElmer, Inc. is a leading provider of products, services, and solutions for the diagnostics, life sciences, and applied markets. The modern PerkinElmer (Revvity, Inc.) is focused in the business areas of diagnostics, life science research, food, and environmental and industrial testing. The company is headquartered in Massachusetts. The products and services are marketed in more than 190 countries. By Jan 2023, the company has employed approximately 16,700 employees. The stock is listed on the New York Stock Exchange. The company is included in the S&P 500 Index. PerkinElmer is a global leader in analytical testing which offers a comprehensive portfolio of complete solutions consisting of systems, software, consumables, and on-site and online services. This diagnostics and life sciences company addresses critical issues through advanced technologies and differentiated solutions. The life sciences segment consists of automation and liquid handling solutions and analysis and characterization. Automation and liquid handling solutions consists of integrated laboratory automation, liquid handling solution, and OEM solutions. Analysis and characterization consists of atomic spectroscopy, chromatography, and molecular spectroscopy. The diagnostic segment develops diagnostics, tools, and applications related to reproductive health, immunodiagnostics, and applied genomics markets. The total cumulative monthly returns for PerkinElmer were 73% for Perkin stock compared to 30% return given by the market index Nasdaq Biotechnology during the 5-year period June 2018 to May 2023.

MarketAxess, the innovative leader in electronic trading was founded in the year 2000. The company is involved in connecting a robust network of market participants through the full trading lifecycle which includes automated trading solutions, intelligent data products and a wide variety of post trade services. MarketAxess Holdings Inc. operates leading electronic trading platforms. The patented trading technology of MarketAxess is used by over 2000 institutional investor and broker dealer firms to trade US high yield bonds, emerging market debt, Eurobonds, municipal bonds, US government bonds and other fixed income securities. The company offers a diverse set of trading protocols which includes request-for-quote, live order books, session-based trading and portfolio trading solutions. MarketAxess offer all-to-all trading (“Open Trading”) and automated trading solutions for majority of its products. The cumulative total monthly return for the MarketAxess stock was 73% compared to the cumulative total monthly return of 61% for the market index Nasdaq Composite during the 5-year period June 2018–May 2023. The average book value of equity as percent of market value of equity was 5.9% during the period 2018–2022.

Ameris Bancorp is a financial holding company whose business is primarily conducted through the wholly owned banking subsidiary Ameris Bank. Ameris Bank offers a full range of banking services to its retail and commercial customers in select markets in Georgia, Alabama, Florida, North Carolina, and South Carolina. The bank operates 164 full-service domestic banking offices. By December 2022, the bank had approximately $25.05 billion in total assets, $20.25 billion in total loans, and $19.46 billion in total deposits. By December 2022, the bank had employed 2847 full-time equivalent employees.

Shyft is a US-based niche market leader in speciality vehicle manufacturing and assembly for the commercial vehicle and recreational vehicle industries. The products offered by the company include walk-in vans, truck bodies, cargo vans, pickup truck upfits which are used in e-commerce/parcel delivery, etc. Products such as upfit equipment which are used in the mobile, retail, and utility trades are offered by the company. The company also offers contract manufacturing and assembly services. Shyft also supplies replacement parts and offers repair, maintenance, field service, and refurbishment services for the vehicles manufactured by the company. The operating activities are conducted through wholly owned operating subsidiary, The Shyft Group, USA. The vehicles, parts, and services of the company are targeted for commercial users, original equipment manufacturers (OEMs), dealers, and government institutions. This innovative organization consists of nine brands in the last mile delivery and other specialty vocations which focus on building chassis and bodies and offers upfit services. The total monthly cumulative return for Shyft was 127% compared to the total monthly cumulative return of 61% for market index Nasdaq Composite during the period June 2018 to May 2023.

The Progressive Corporation is an insurance holding company based in the United States with subsidiaries and affiliates. The insurance subsidiaries of the company offer personal and commercial auto insurance, personal residential and commercial property insurance, and workers’ compensation insurance basically for transport sector. The insurance services are also provided to business-related general liability insurance and other specialty property casualty insurance and related services. The noninsurance subsidiaries offer support services for insurance and investment activities. On account of the nature of insurance, legal and regulatory requirements, the insurance and claims organizations are generally managed on a state by state basis. The investment portfolio of the company consisting of fixed maturity securities, short-term investments, and equities are valued at $53.5 billion by December 2022. By December 2022, the company employed 55,100 employees. The Progressive stock had cumulative total monthly returns of 89% compared to the negative returns registered by market index Nasdaq Financial 100 during the recent 5-year period June 2018–May 2023.

SmartFinancial was established in the year 1934. The company has over 70,000 members. SmartFinancial is a bank holding company which is registered under the Bank Holding Company Act of 1956. SmartFinancial owns and operates SmartBank. The bank is federally insured by NCUA and is an equal housing lender. The Tennessee-based chartered bank was established in the year 2007. The bank attracts deposits from general public and offers commercial loans, commercial and residential real estate loans, leases, consumer loans, and residential and commercial construction loans. The major source of income for the bank is interest and fees collected on loans and leases, fees collected on deposit accounts, and interest and dividends collected on other investments. The principal expenses of the bank include interest paid on deposits, employee compensation, benefits, office expenses, and other overhead expenses. As of March 2023, SmartBank has 41 full-service bank branches and 1 loan production office. By December 31, 2022, the bank employed 583 full-time and 13 part-time associates.

Superior Group of Companies (SGC) was established in 1920. The three business segments of Superior are branded products, healthcare apparel, and contact centers. The branded product segment, through its signature marketing brands BAMKO® and HPI®, produces and sells customized merchandising solutions, promotional products, and branded uniform programs. The branded products are manufactured in house or through third parties. These products are targeted toward customers in a range of industries such as retail, hotel, food service, entertainment, technology, and transportation. The sales offices of the segment are located in the United States, Canada, Brazil, the United Kingdom, and Colombia. The segment has support services in China and India. Superior’s healthcare apparel segment through its signature marketing brands such as Fashion SealHealthcare® and WonderWink® manufactures and sells a wide range of healthcare apparel such as scrubs, lab coats, protective apparel, and patient gowns. The healthcare segment sells healthcare service apparel to healthcare laundries, dealers, and physical and e-commerce retailers in the United States. SGC’s contact centers segment through multiple The Office Gurus® entities provides outsourced nearshore business process outsourcing contact and call center support services to North American customers. The branded product segment offers customized products to support branded marketing programs, branded uniform programs, corporate awards, incentives and recognition programs, event promotions, and specialty packaging and displays.

Meta Financial Group Inc. is a registered bank holding company which was incorporated in the year 1993. The group includes Pathward Financial and the Bank along with the subsidiaries of Pathward Financial. MetaBank, the wholly owned full-service banking subsidiary of Pathward Financial operates through the segments of consumer, commercial, and corporate services. MetaBank collaborates with partners through the BaaS business line to provide solutions to attract low-cost deposits and generate fee income. The low-cost deposits are primarily invested into loan and lease products offered through the commercial finance business line. The bank also sells loans such as consumer credit product loans, refund advance loans, and government guaranteed loans to third-party buyers. The bank also sells and purchases loan participations as well as mortgage-backed securities. The consumer segment which include the BaaS business line offers prepaid cards and deposit accounts to payment processing and consumer lending. The company offers innovative solutions such as payment, issuing, credit, and tax. The payment solutions process payments for all customers’ personal and business needs. Pathward is one of the leading debit and prepaid card issuer in the United States. Tax solutions offer electronic refund advances and refund transfers with some of the largest tax companies in the world. Pathward’s commercial finance business line offers different products through its working capital, equipment finance, structured finance, and insurance premium finance lending solutions. The company’s BaaS business line offers its consumer credit products and Emerald Advance products through its credit solutions. The average return on assets, return on equity, and net interest margin were 14.12%, 1.76%, and 4.97%, respectively, during the period 2018–2022.

On October 28, 2021, Facebook, Inc. changed its name to Meta. Meta was incorporated in Delaware in July 2004, and completed its initial public offering in May 2012, and its common stock is currently listed on the Nasdaq Global Select Market under the symbol META. Meta Platform’s primary objective is to foster a closer connection between communities and the world. With a focus on bringing the metaverse to life, the company offers a range of innovative products and apps that support this vision. Through cutting-edge technology, Meta Platform facilitates seamless connections, empowering people to discover and engage with diverse communities while also nurturing the growth of businesses. Meta Products connect more than 3 billion people around the world. Beyond conventional 2D screens, Meta Platform is leading the charge toward immersive experiences in the realm of social technology, such as augmented and virtual reality. By embracing these transformative technologies, Meta enables individuals to share their experiences, ideas, photos, and videos in unprecedented and captivating ways. The company’s dedication to pushing the boundaries of connectivity and interaction opens up exciting new possibilities for the future of social engagement and virtual exploration. The family products of Apps of Meta include Facebook, Instagram, Messenger, WhatsApp. The Reality Labs products of Meta Platform are aimed at exploring new technologies such as neural interfaces using electromyography which facilitates people control their devices using neuromuscular signals and innovations in artificial intelligence and hardware to build next-generation interfaces. The company employs nearly 72,000 people across 80 cities. Facebook has acquired 66 companies. The total monthly cumulative return for Meta was 95% during the 5-year period August 2018–July 2023 compared to the total monthly cumulative return of 69% for market index Nasdaq Composite. The average book value of equity as percent of market value of equity was 26.8% during the period 2018–2022.

The technology company Mercury Systems Inc. is a technology-intensive company related to global aerospace and defense industry. The company is headquartered in Andover, Massachusetts. The end-to-end processing platform of the company offers broad range of aerospace and defense programs. The processing technologies of the platform consist of signal solutions, display, software applications, networking, storage, and secure processing. The innovative solutions provided by the company are software defined, open, and modular to meet high-tech needs of customers. The company is the lead manufacturer of essential components, products, modules, and subsystems. The products of the company are sold to defense prime contractors, the US government, and original equipment manufacturers (OEM) commercial aerospace companies. Mercury Systems’ comprehensive range of products and solutions has been successfully implemented in over 300 programs, which cater to the needs of more than 25 diverse defense prime contractors and commercial aviation customers. At the forefront of innovation, Mercury is spearheading the advancement and integration of commercial technology into aerospace and defense solutions. The company’s expertise spans from chip-scale to system-scale and encompasses diverse data domains, including radio frequency (“RF”) and digital up to decision-making levels. The customers of the company rely on its mission-critical solutions for a wide range of applications, including command, control, communications, computers, intelligence, surveillance, and reconnaissance (“C4ISR”). Additionally, the firm’s expertise extends to electronic intelligence, mission computing avionics, electro-optical/infrared (“EO/IR”) systems, electronic warfare, weapons and missile defense, hypersonic, and radar technologies. In fiscal 2022, the company made revenues of $988.2 million. By 2022, the company employed a total of 2386 people.

National Bank Holdings Corporation (NBHC) is a Denver-based bank holding company which provides community banking services. National Bank Holdings through its bank subsidiaries NBH Bank and Bank of Jackson Hole Trust operates a network of over 95 banking centers to serve individual consumers, businesses, and government institutions. NBH Bank operates through brands such as Community Banks of Colorado, Community Banks Mortgage, Bank Midwest, Bank Midwest Mortgage, Hillcrest Bank Mortgage, Bank of Jackson Hole, etc. The banking centers are located primarily in Colorado, greater Kansas City region, Utah, Wyoming, Texas, New Mexico, and Idaho. By December 31, 2022, NBHC held $9.6 billion in assets, 7.2 billion in loans, $7.9 billion in deposits, $1.1 billion in shareholders’ equity, and $0.8 billion of trust and wealth management assets under management. The Commercial and Specialty Banking division focus on small- and medium-sized businesses and commercial real estate investors and developers. The 5-year holding period return for NBHC was 44% compared to 19% and 22% holding period returns accounted by market indices KBW Regional Banking Index and Russell 2000 Index. During the period 2018–2022, the average growth rate of total assets, gross loans, deposits, and total equity were 14%, 17%, 15%, and 12%, respectively.

Addus HomeCare is a leading provider of comprehensive home care and support services which focuses on innovative patient services. The company has been in 40 plus years of service. Addus focuses on home care services which include personal care services that assist with activities of daily living along with hospice and home health services. Addus’ consumers are persons who are at risk of hospitalization or institutionalization such as the elderly, chronically ill, and disabled. The payor clients of Addus include federal, state, and local governmental agencies, managed care organizations, commercial insurers, and private individuals. Currently Addus offers home care services to approximately 44,000 consumers through 212 locations across 22 states in the United States. In 2021 and 2022, Addus Home served 67,000 and 66,000 discrete consumers. The company provides all three levels of care, personal care, home health, and hospice services in Ohio, Illinois, and New Mexico. The cumulative monthly return for Addus stock was 55% compared to cumulative monthly returns of 29% for the market index Russell 2000 during the 5-year period September 2018–August 2023.

LHC Group is a post-acute healthcare service provider. By the year 2022, the company had 920 service providers in 37 states in the United States. LHC provides services in five segments – home health services, hospice services, home- and community-based services, facility-based services, and healthcare innovations. The facility-based services are primarily offered through its long-term acute care hospitals (LTACHs). The home health services offer a broad range of services such as skilled nursing, medically oriented social services, and physical, occupational, and speech therapy. Home health agencies facilitate nurses, home health aides, and therapists to design and implement individualized treatment plan for patients in accordance with a physician-prescribed plan of care. In 2022, LHC operated 527 home health service locations. The hospice segment offers end-of-life care to patients with terminal illnesses through the services of interdisciplinary teams consisting of physicians, nurses, home health aides, counselors, and volunteers. The hospice segment offers wide range of services which include pain and symptom management, emotional and spiritual support, homemaker services, and counseling. By the year end 2022, the company offered 159 hospice locations. The home- and community-based segment offers services related to activities of daily living to elderly, chronically ill, and disabled patients. This segment had operations in 128 locations. The LTACH location offers services primarily to patients with complex medical conditions who have been transitioned out of a hospital intensive care unit. By 2022, the LTACH had 367 licensed beds. The healthcare innovation (HCI) segment, comprised of Imperium Health Management, LLC; Long Term Solutions, Inc.; and Advance Care House Calls, aims to enhance the provision of services in other segments to benefit patients and payors, offering accountable care organization enablement, in-home assessments for the long-term care insurance industry, and primary medical care for patients with chronic and acute illnesses who struggle to visit a doctor’s office. In the year 2022, LHC Group Inc. and UnitedHealth Group entered into an agreement and plan of merger with UnitedHealth Group and its subsidiary Lightning Merger Sub Inc. As a result of the merger plan, LHC Group was delisted from the Nasdaq stock market. The company employs approximately 30,000 employees in 37 states of the United States. The 5-year holding period return for LHC Group Inc stock was 164% during the period 2017–2022.

The Metropolitan Commercial Bank (MCB) is the subsidiary of Metropolitan Bank Holding Corporation. MCB offers a wide range of business, commercial, and retail banking products and services to small and middle market businesses and public entities in the New York metropolitan area. The bank is basically a solution-oriented relationship bank which focuses on middle market companies and real estate entrepreneurs. The bank has merged the advanced technological service and community-oriented approach of a local bank along with a comprehensive range of financial solutions and offerings. The bank also offers corporate cash management and retail banking services. The bank holds a prominent position in BaaS via its Global Payments Group delivering worldwide payment infrastructure and acting as an issuing bank for third-party debit card programs, while also offering financial infrastructure such as cash settlement and custodian deposit services. The company operates in a diverse economic region, characteristic of urban hubs, where services, wholesale/retail trade, finance/insurance/real estate, technology firms, and construction constitute the primary sources of employment. The bank issues prepaid cards for nationwide card programs which are managed by third-party program managers. The bank operates six banking centers strategically located within close proximity to target clients. The company competes with regional and national banks within its markets, along with nationwide nonbank commercial finance firms, for competition spanning lending, fund attraction, and merchant processing services, facing challenges from commercial banks, savings associations, credit unions, consumer finance firms, pension trusts, mutual funds, insurance companies, and mortgage-related entities. By December 31, 2022, the bank had assets, loans, and deposits totaled $6.3 billion, $4.8 billion, and $5.3 billion, respectively. By December 31, 2022, the bank employed 239 full-time employees. During the period 2018–2022, the total assets, gross loans, and deposits grew by 34%, 27%, and 39% on average basis.

Lennar was established in the year 1954 as a local Miami homebuilder. Over the years, the company has built over 1 million new homes in the United States of America. Lennar serves different communities in terms of lifestyles and family dynamics. In terms of deliveries, revenues, and net earnings, Lennar is the second largest homebuilder in the United States. Lennar is an originator of residential and commercial mortgage loans, provider of title insurance and closing services, and developer of multifamily rental properties. The company is also the sponsor and manager of funds and joint ventures which focuses on the development and ownership of multifamily rental properties. The Lennar stock had cumulative monthly returns of 132% compared to cumulative monthly return of 68% accounted by market index Nasdaq Composite during the 5-year period September 2018–August 2023.

1-800-Flowers.com, Inc. and its affiliated companies offer a wide array of gifts crafted to facilitate customers in conveying their sentiments, forging connections, and commemorating special occasions. The company began operations in the year 1976. The firm started off with the acquisition of a single retail florist and later on expanded to a 14-store chain. The company took advantage of the rapid emergence of toll-free calling. The company acquired the right to use the toll-free telephone number 1-800-FLOWERS and established it as its corporate brand. The star family of brands of the company include 1-800-Flowers.com®, 1-800-Baskets.com®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Vital Choice®, Stock Yards®, and Simply Chocolate®. The company operates BloomNet®, a global floral and gift industry service provider. It also oversees Napco℠, specializing in floral gifts and seasonal décor; DesignPac Gifts, LLC, a gift basket and tower manufacturer; and Alice’s Table®, a nationwide digital livestreaming platform which offers floral, culinary, and lifestyle experiences. By July 2022, the company employed approximately 4700 full-time and part-time employees in the United States. 1-800-Flowers.com is one of the most recognized brands in the floral and gift industry. The superior power of its brand has enabled the company to extend its product offerings from floral category into complementary products such as gourmet popcorn, cookies and related baked and snack food products, premium chocolate and confections, wine gifts, gourmet gift baskets, fruit bouquet arrangements, gift-quality fruit baskets, dipped berries, as well as steaks, chops, and prepared meals.

FS Bancorp was established as the holding company of the First Security Bank. The First Security Bank is a relationship-driven community bank which delivers banking and financial services to local families, local and regional businesses, and industry niches. Initially the bank was chartered as a credit union to serve various select employment groups. The banks have headquartered office, an administrative office, 20 full-service bank branches, and 10 home loan production offices. By December 31, 2022, the company had consolidated total assets of $2.63 billion, total deposits of $2.13 billion, and stockholder’s equity of $231.7 million. The bank is a diversified lending institution which focuses on the issuance of loans for commercial real estate, single- to four-family residences, and home equity. Its lending portfolio encompasses consumer loans which include various indirect home improvement loans secured by fixtures as well as marine loans and commercial business loans. Fixture-secured loans represented the largest portion of the company’s loan portfolio. The company also focuses on real estate lending products such as one- to four-family and commercial real estate loans which include speculative residential construction and commercial business loans. The company also focuses on residential mortgage loans. The bank aims to leverage its strength in indirect consumer lending. The bank primarily focuses on the origination of consumer loans, one- to four-family residential first mortgages, and second mortgage/home equity loan products. The total cumulative monthly return for FS Bancorp stock was 46% compared to total cumulative monthly return of 5.85% for Nasdaq Bank index during the recent 5-year period Oct 2018–September 2023.

Arch Capital Group Ltd. (ACGL) is a publicly listed company which is a part of the S&P 500 Index. Arch Capital was established in September 2000. Arch Capital offers insurance, reinsurance, and mortgage insurance through its wholly owned subsidiaries. The company is recognized as a leading global financial services company in the world. Standard and Poor’s rating was A+ for the company in year 2022. The company has a global presence with 5800 plus employees. Arch’s Global Mortgage Group is a global leader in aggregating, managing, and syndicating mortgage credit risk. The company offers a range of property, casualty, and mortgage insurance and reinsurance lines along with the focus on writing specialty lines of insurance and reinsurance. The mortgage operations of Arch Capital included the United States and international mortgage insurance and reinsurance operations as well as participation in government-sponsored enterprise (GSE) credit risk sharing transaction. The cumulative total monthly return for Arch Capital during the recent 5-year period October 2018–September 2023 was approximately 121% compared to 58% total cumulative returns of S&P 500 market index.

First Horizon Bank had its origin in the year 1864 when First National Bank of Memphis was established by Frank S Davis. First Horizon Corp is a leading regional financial services company headquartered in Memphis, Tennessee. First Horizon operates in 12 states across the southern United States. The bank and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage services. The loans and deposits offered by the bank are basically in the regional banking and specialty banking segments. The principal lines of business in the specialty banking segment are fixed income/capital markets, professional commercial real estate, mortgage warehouse lending, asset-based lending, franchise finance, equipment finance, corporate banking, correspondent banking, and mortgage origination. The total cumulative monthly return for First Horizon stock was 20% for the recent 5-year period October 2018–September 2023 compared to the total cumulative monthly return of 5.85% for the market index Nasdaq Bank index. The total assets, gross loans, and deposits increased by 24%, 25%, and 27%, respectively, on average basis during the period 2018–2022.