The Small Cap Value approach targets high-quality, catalyst-rich firms with expected earnings growth in the next 12-24 months. YTD, the Signia Small Cap Value Strategy returned 27.82% (net), compared with the Russell 2000 Value Index's 23.00%. In its Q2 2026 investor letter, Signia Small Cap Value Strategy highlighted Liberty Energy Inc. (NYSE:LBRT). On August 11, 2026, Liberty Energy Inc. (NYSE:LBRT) closed at $21.48 per share, reflecting a market capitalization of $3.50 billion. Signia Small Cap Value Strategy stated the following regarding Liberty Energy Inc. (NYSE:LBRT) in its Q2 2026 investor letter: