Strategy Overview

Investment Approach

We are fundamental bottom-up stock pickers who invest for the long term. We believe that the best strategy for investment success is investing in high-quality, well-managed small-cap companies that are trading below their intrinsic value.

We look for companies with:

  • Outstanding management teams
  • Sustainable competitive advantage
  • Strong operating cash flows
  • High returns on capital
  • Stock trading below intrinsic value
  • Consistent long-term growth prospects
Our biggest advantage is the depth of knowledge we develop on our investments.
About the Portfolio
Investment Style Core
Process Fundamental Bottom-up
Turnover 15% to 25%
Minimum Initial Investment $250K
Reasons to Invest
  • Experienced investment team with unique and focused expertise in small cap strategies
  • Higher return and lower volatility versus the benchmark
  • Rigorous investment process with a hands-on approach to research
  • Superior knowledge of portfolio companies and strong access and relationships with their management team
  • ESG factors analyzed as part of core research process
  • 100% owned by its employees, aligning our interests with those of our clients
Strategy Profile
Global Fact Sheet 2023 Q4

Key Characteristics

Sector Allocation (%)
Top Five Stocks (%)
Security Sector Weight
Marlowe Plc. Industrials 3.7
Federal Signal Corp. Industrials 3.5
SES Imagotag Information Technology 3.4
Ensign Group Inc. Health Care 3.0
Houlihan Lokey Inc. Financials 2.9
Key Financial Characteristics
Market Cap (weighted average) $5,291 M
FY1 P/E (median) 19.6 x
ROE (TR 12M, median) 12.3%

Performance (%) in Canadian dollars, as at December 31, 2023
Period Van Berkom MSCI ACWI Small Cap Index Value Added
3 months 13.09 9.65 3.44
1 Year 15.00 14.66 0.34
SI 12.48 11.83 0.65

Past performance is not a guarantee or indicator of future results. Inherent in any investment is the risk of loss.
Composite returns are calculated using the time-weighted method and presented gross of management and trustee fees and withholding taxes.
SI = Since inception

Portfolio Management Team

Team Member* Role In the Industry Since
Zhuo Ling* Senior Portfolio Manager 2010
Melissa Gasser* Senior Analyst 2010
Karim Haddad* Senior Analyst 2007
Alexander Tiscione Analyst 2016

* These team members are also Van Berkom and Associates Inc. shareholders.

Learn more about our investment approach



Van Berkom and Associates Inc. (“Van Berkom”) is registered in Canada with the Autorité des marchés financiers (“AMF”), the Ontario, Alberta, British Columbia and Manitoba Securities Commissions as Portfolio Manager and as Investment Fund Manager. In the United States, Van Berkom is defined as a Securities Exchange Commission (“SEC”) registered independent investment advisor. The information provided herein is for informational purposes only and is not intended to provide professional advice and should not be relied upon in that regard. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results. Performance is presented gross of all management fees. Van Berkom claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Important information about Van Berkom, including a GIPS® Composite Report and additional information regarding policies for calculating and reporting returns, may be obtained from Van Berkom by communicating with Andy Kong, Senior Director, Institutional Markets at

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