Thrivent Small Cap Stock Fund Q1 2025 Commentary
Summary
- Thrivent Small Cap Stock Fund underperformed the Russell 2000 Index over the last quarter and the past year mainly due to security selection, somewhat offset by positive sector allocation.
- The largest detractors to the past quarter were in Consumer Staples and Materials, while the largest detractors to the year were in Consumer Staples and Industrials.
- New positions were initiated in multiple sectors, taking advantage of the volatility in stock prices.
- The focus remains on finding solid companies that are attractively priced with long runways for growth in sales, income, and free cash flow.
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Performance factors
During the past quarter, the Fund underperformed the benchmark mainly due to security selection. Negative security selection was led by the Consumer Staples and Materials sectors, while Industrials was the largest positive contributor. The largest detractor within Consumer Staples
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