Hood River Small-Cap Growth Fund
Manager Directed Portfolios · 3 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Hood River Small-Cap Growth Fund is an actively managed U.S. equity fund. 52% of HRSMX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 87% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q4
The Hood River Small-Cap Growth Fund (the Small-Cap Growth Fund or the Fund) seeks long-term growth of capital.
The fund invests in common stocks of U.S. small-cap companies that Hood River Capital Management identifies through fundamental research as having strong growth characteristics or attractive valuation relative to profitability, with market capitalizations consistent with the S&P SmallCap 600 Index and Russell 2000 Growth Index. The portfolio typically holds 60–120 stocks and may include IPOs, SPACs, and PIPE investments. Because returns depend on Hood River's proprietary estimates and security selection, performance will diverge from small-cap indices and reflects the adviser's forecasting accuracy.
| Share class | Expense ratio |
|---|---|
| HRSMX | 1.07% |
| HRSRX | 1.32% |
| HRSIX | 0.97% |
Portfolio turnover 102.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.85% |
| Cash & short-term | 25.84% |
| Bonds | 0.10% |
These positions come to 122.79% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 23.4% |
| Industrials | 22.4% |
| Cash | 21.0% |
| Health Care | 16.3% |
| 10 smaller | 16.8% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +84.29% | +143.24% | +92.83% | 20.68% | -23.87% | |
| +83.82% | +141.44% | +90.67% | 20.67% | -23.96% | |
| +84.43% | +143.85% | +93.69% | 20.67% | -23.84% |
These classes hold the same portfolio, so the 3.02pp spread over 5 years is the cost difference between them — roughly 0.60pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Mount Vernon Liquid Assets Portfolio, LLC | 22.77% | — | $1.51B | — |
| APLD | Applied Digital CorpAPLD | 6.12% | $37.30 | $406.97M | 10.9M |
| DOCN | DigitalOcean Holdings IncDOCN | 4.92% | $157.03 | $327.23M | 2.1M |
| MTZ | MasTec IncMTZ | 3.87% | $416.06 | $257.02M | 617.7K |
| — | First American Treasury Obliga | 3.07% | — | $204.13M | — |
| BE | Bloom Energy CorpBE | 3.05% | $302.70 | $202.67M | 669.6K |
| DAVE | Dave IncDAVE | 2.96% | $372.59 | $196.50M | 527.4K |
| SMTC | Semtech CorpSMTC | 2.60% | $161.85 | $173.13M | 1.1M |
| FCFS | FirstCash Holdings IncFCFS | 1.92% | $216.32 | $127.37M | 588.8K |
| XPO | XPO IncXPO | 1.88% | $205.29 | $125.10M | 609.4K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 53.14% of net assets, top 25 76.11%, across 112 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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