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Sycamore Small Cap Value Equity

Gary Miller, Chief Investment Officer – Sycamore CapitalFilename

Investment Approach

The Sycamore Small Cap Value strategy employs an opportunistic approach focused on investing in high quality yet undervalued businesses with above-average financial strength that the team believes are currently mispriced by the market, generally due to temporary earnings challenges, negative investor sentiment or cyclical pressures. The team utilizes elements of both deep and relative value in order to exploit the inefficiencies inherent in the small cap asset class as well as the short-term nature of many market participants.

Philosophy & Process

The strategy employs a bottom-up investment process to build a diversified portfolio of small cap companies that the investment team believes are undervalued and offer above-average total return potential. In building portfolios, the team identifies companies that it believes to possess each of the following attributes - undervaluation, above-average financial strength and the prospect for improving fundamentals. A bottom-up, value approach to investing in better businesses offers the clearest path to excess return.

Strategy assets include both discretionary and non-discretionary assets under management that are managed in a similar style.

Gary Miller is the Chief Investment Officer and lead portfolio manager of Sycamore Capital’s Small Cap Value Equity and Mid Cap Value Equity strategies. The Victory Small Cap Value Equity and Mid Cap Value Equity team was renamed Sycamore Capital on April 1, 2015. Sycamore Capital is a Victory Capital investment franchise.

He joined Victory Capital in 1987. Prior to his tenure as portfolio manager, Mr. Miller served as an equity research analyst for the Small Cap Value and Mid Cap Value Equity strategies.

Mr. Miller holds a Bachelor of Business Administration in accounting from the University of Cincinnati and a Master of Business Administration from Xavier University.

Greg Conners is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in 1999 with four years prior investment experience as a small cap research analyst with Carillon Advisers in Cincinnati. Prior to his tenure as portfolio manager, Mr. Conners served as a research analyst for the Small Cap Value Equity strategy.

Mr. Conners holds a Bachelor of Science in economics from College of Mount St. Joseph and a Master of Business Administration from Xavier University.

Jeffrey Graff is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in 2001 with six years prior investment experience. Previously, Mr. Graff was employed as an equity analyst with A.G. Edwards & Sons in St. Louis, Missouri. He began his career in the investment industry as an equity research associate for Roulston & Company in Cleveland, Ohio.

Mr. Graff holds a Bachelor of Business Administration from Cleveland State University and a Master of Finance from St. Louis University. Additionally, he is a CFA® charterholder.

Michael Rodarte is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in 2006. Previously, Mr. Rodarte worked as an analyst with Keybanc Capital Markets in their corporate and investment banking groups.

Mr. Rodarte earned his Bachelor of Business Administration in finance, economics, and international business from Ohio University. Additionally, he is a CFA® charterholder.

James Albers is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in 2005. Previously, Mr. Albers worked as a consultant with Accenture and IBM Global Services.

Mr. Albers earned a Bachelor of Science in economics and computer science and a Master of Science in finance from University of Wisconsin. Additionally, he is a CFA® charterholder.

Jason Brown is a senior research analyst for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in June 2011 with five years prior investment experience. Previously, Mr. Brown worked as a research associate with KeyBanc Capital Markets covering the packaging and construction materials sector and as a market research associate at FTN Midwest Securities.

Mr. Brown received his Bachelor of Science in finance from Fisher College of Business at The Ohio State University. Additionally, he is a CFA® charterholder.

Abigayle Ashcraft is a research analyst for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

She joined Victory Capital in May 2011. She has prior experience in business analytics at Booz Allen Hamilton in Dayton, Ohio and in leveraged currency portfolio management with a student-run proprietary trading group.

Ms. Ashcraft holds a Bachelor of Science in Business Administration from The University of Dayton where she was a participant in the John W Berry, Sr. Scholars Program and a member of the Beta Gamma Sigma International Honor Society. Additionally, she is a CFA® charterholder.

Mr. Nabhan is a senior portfolio specialist for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

He joined Victory Capital in January 2015. Prior to joining the firm, Mr. Nabhan held positions with Metropolitan West Capital Management, LLC.,Capital Research and Management Co. and State Street Bank.

Mr. Nabhan graduated from Cal State University, Fullerton with a Bachelor of Arts in business administration with a concentration in finance and a Bachelor of Arts in economics and minor in international politics. He received his Master of Arts degree at Cal State University, San Bernardino.

View Entire Investment Team

At a Glance (As of {{product.as_of | date:"M/dd/yy"}})

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View Mutual Funds

Strategy assets include both discretionary and non-discretionary assets under management that are managed in a similar style.

Greg Conners

Portfolio Manager

Jeffrey Graff, CFA

Portfolio Manager

Jeffrey Graff is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

Michael Rodarte, CFA

Portfolio Manager

Michael Rodarte is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

James Albers, CFA

Portfolio Manager

James Albers is a portfolio manager for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

Jason Brown, CFA

Senior Research Analyst

Jason Brown is a senior research analyst for the Sycamore Capital Small Cap Value Equity and Mid Cap Value Equity strategies.

Mr. Brown received his Bachelor of Science in finance from Fisher College of Business at The Ohio State University. Additionally, he is a CFA® charterholder.