Easterly Asset Management (“Easterly”), home to investment teams providing investors with a portfolio of solutions across private markets, active equity, and active fixed income, marks the 20th anniversary of the Easterly Snow Small Cap Value Strategy. Launched in October 2006, the strategy has applied the same contrarian, valuation-driven approach through varying market cycles including the global financial crisis, a pandemic and the recent return of higher interest rates.

The Easterly Snow Small Cap Value Strategy ranks in the 10th percentile over the trailing three year period, 8th percentile over the trailing five and 10-year periods and the 11th percentile since inception among small cap value strategies with 20-year track records.* Joshua Schachter, CFA, Chief Investment Officer and Senior Portfolio Manager at Easterly Snow, has managed the strategy since its launch, bringing continuity to its process across two decades. Under his leadership, the team focuses on identifying companies it believes are high-quality but temporarily overlooked due to market dislocations and behavioral biases.

“Our investment philosophy has remained consistent through 20 years of changing markets, and we believe today’s environment highlights the value of that discipline,” said Schachter. “Market volatility because of a confluence of circumstances around midterm elections is creating a broad opportunity set for active managers. While passive vehicles hold more than half of equity assets, our focus on risk and reward can potentially offer investors a margin of safety with asymmetric upside.”

Since its inception, the strategy has returned 9.93% annualized net of fees, versus 8.85% for the Bloomberg US 2000 Value Index and 7.31% for the Russell 2000 Value Index. It also outperformed both indices in the third quarter of 2026, when Treasury yields reached their highest level since 2007 and weighed on smaller companies. This resilience reflects the team’s focus on individual companies rather than broad market trends, even in environments that have been challenging for small cap value investors.

The anniversary follows Easterly’s June 2026 acquisition of Olstein Capital Management’s mutual fund business, which added $43.42 million in assets to the Easterly Snow Small Cap Value Fund and $465.28 million to the Easterly Snow All Cap Value Fund.

“For two decades, the Snow team has navigated multiple market cycles with conviction and an independent point of view, building a legacy we look forward to supporting for years to come,” said Darrell Crate, Founder and Managing Principal of Easterly Asset Management. “Snow embodies what we look for across Easterly’s lineup of curated solutions: talented teams with a differentiated approach, focused on making portfolios better.”

Easterly Snow Small Cap Value Strategy Performance (%) as of September 30, 2026

 

QTD

YTD

1 Year

3 Year

5 Year

10 Year

Since

Inception

(October

31, 2006)

Composite, net

-2.80

11.81

19.68

20.53

12.38

12.35

9.93

Bloomberg US 2000 Value TR Index

-7.26

13.58

16.42

16.03

7.90

9.61

8.85

Russell 2000 Value TR Index

-4.91

16.96

20.77

17.91

7.80

9.40

7.31

Snow SCV strategy eVestment peer percentile rank*

—

—

27

10

8

8

11

Source: Performance shown is the Easterly Investment Partners LLC (“the Firm”) Snow Small Cap Value composite in USD. Past performance is not indicative of future results. Net performance results reflect the application of a model investment management fee which is higher than the actual average weighted management fee charged to accounts in the composite applied to gross performance results. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. Returns greater than one year are annualized. Easterly claims compliance with the GIPS® standards; GIPS® report available upon request.

*Source: eVestment, as of September 30, 2026. Universe: U.S. small cap value strategies in eVestment with 20-year track records, 123 observations for the 3-, 5-, and 10-year periods and 105 observations since inception. Rankings are based on Snow Small Cap Value composite returns net of fees; 1 represents the highest percentile. Peer returns may be reported gross of fees. Rankings are not indicative of future results.

About Easterly

Easterly Asset Management and its Strategic Partners provide private wealth and institutional investors with a portfolio of solutions across private markets, active equity and active fixed income. Founded in 2019, Easterly’s goal is to bring curated solutions to clients that make their portfolios better by partnering with trusted investment teams who have an established track record of delivering value to investors. Easterly enables high-performing managers to operate at scale by delivering best-in-class resources, risk management, operational support, infrastructure and an institutional and wealth distribution team. For more information, visit easterlyam.com.

IMPORTANT DISCLOSURES

Investors should carefully consider the investment objectives, risks, charges and expenses of the Easterly Funds. This and other important information about the Fund is contained in the prospectus which should be read carefully before investing. To obtain a prospectus or summary prospectus which contains this and other information, visit funds.easterlyam.com or call Easterly Securities at 888-814-8180.

© 2026. Easterly Asset Management. All rights reserved.

The Easterly funds are distributed by Easterly Securities LLC, member FINRA/SIPC. Easterly Investment Partners LLC is an affiliate of Easterly Securities LLC. Orange Investment Advisers, LLC and EAB Investment Group, LLC are not affiliated with Easterly Securities LLC.

Easterly Snow and Easterly Ranger are investment teams of Easterly Investment Partners LLC, an SEC-registered investment adviser. EAB Investment Group LLC (d/b/a Easterly EAB), Orange Investment Advisors LLC (d/b/a Easterly Orange), and Lateral Investment Management are separate SEC-registered investment advisers that are strategic partners of Easterly. Each investment adviser’s Form ADV is available at www.sec.gov. Registration does not imply and should not be interpreted to imply any particular level of skill or expertise.

Not FDIC Insured–No Bank Guarantee–May Lose Value.

IMPORTANT RISK INFORMATION

Investments in small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies.

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