Fact Sheets
October 20, 2026
2026
According to our preliminary results, the Small Capitalization Value Portfolio Composite was up 1.20%, net of fees, for the quarter, versus the 4.91% decline for the Russell 2000 Value Index and the 7.23% decline for the Russell 2000 Index. Year-to-date, the Portfolio is up 35.24%, net of fees, versus the 16.96% gain for the Russell 2000 Value Index and the 13.71% gain for the Russell 2000 Index. The portfolio remains ahead of the benchmark indices for the 1, 3, 5, 10-year and since-inception periods.
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October 12, 2026
2026
September lived up to its reputation as a challenging month for stocks. U.S. equity indexes delivered mixed but generally weaker results, as exceptionally strong corporate fundamentals and continued enthusiasm surrounding artificial intelligence (AI) competed with rising interest rates, stubborn inflation, and geopolitical uncertainty. Overall market breadth was weak during the month, with the headline returns of the major large-cap indexes masking considerably greater weakness beneath the surface.
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October 12, 2026
2026
Equity market returns were mixed for the third quarter, with market weighted large cap indexes up marginally, while the broader market declined. The S&P 500 rose +2.3%, the equal-weighted S&P 500 fell -1.9% while small caps fell -6% to -10%, depending on the benchmark. The primary factors impacting performance were a re-escalation in the Iran conflict, driving energy prices back up, and rising interest rates, particularly on the long end of the curve.
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September 10, 2026
2026
U.S. equities rebounded from a weak July to post modest gains in August, overcoming periodic volatility related to inflation, interest rates, and geopolitical developments. Corporate fundamentals remained exceptionally strong, with second-quarter earnings for S&P 500 companies increasing approximately 34% from the prior year - the strongest earnings growth since 2021. Encouragingly, earnings revisions were once again broadly positive across large, mid and small companies. The economic backdrop also remained supportive, as continued expansion in US manufacturing activity, healthy consumer spending and a resilient labor market reinforced confidence in the durability of the economic expansion.
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August 31, 2026
2026
Small capitalization stocks may now provide greater diversification and less valuation risk than many of the market’s largest ‘blue chip” companies. Moreover, it appears to us that we’re only in the beginning stages of a change in leadership, and it is possible small capitalization stocks could outperform large stocks for the next few years.
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Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
