Ronin Strategies
US Factor Private Equity Proxy



Index Performance




US Factor Private Equity Proxy Index focuses on U.S. companies with market caps between 100 & 600 million, encompassing 85% of the distribution of traditional PE holding sizes. The US Factor Private Equity Proxy Index follows a simple rules based screener for potential Micro and Small cap public equities that mirror potential Private Equity investment exposures. On a rolling 3-5 year basis based on traditional PE exits, the index should outperform the Russell Microcap Index and the Russell 2000 Index. This index should be a guideline to an alterative to traditional private equity exposure, seeking fundamental value metrics of growth potential with increased liquidity.

  • TickerPEPXUS
  • Inception Date12/20/2023
  • WeightingEqual
  • # of holdings37
What's inside?


All holdings as of February 28, 2024
CSV download
Aris Water Solutions, Inc. (ARIS)3.42%$298.47M9.93%35.73%2.91
PlayAGS, Inc. (AGS)3.38%$358.86M14.21%48.89%2.24
Emerald Holding, Inc. (EEX)3.34%$408.17M16.19%52.14%2.67
Natural Gas Services Group, Inc. (NGS)3.29%$203.85M51.23%24.70%2.84
Semler Scientific, Inc. (SMLR)3.15%$329.57M16.15%93.19%2.13
Liberty TripAdvisor Holdings, Inc. (LTRPB)3.08%$137.29M19.84%71.53%1.55
i3 Verticals, Inc. (IIIV)3.06%$530.07M6.93%67.21%3.19
Summit Midstream Partners LP (SMLP)3.05%$200.68M36.66%30.65%4.30
Inspired Entertainment, Inc. (INSE)3.04%$250.92M12.76%58.21%2.30
FitLife Brands, Inc. (FTLF)2.99%$102.95M67.21%40.81%2.06
Everspin Technologies, Inc. (MRAM)2.93%$192.15M8.04%60.24%2.96
Vitru Ltd. (VTRU)2.92%$458.68M30.79%65.70%2.49
Alaska Power & Telephone Co. (APTL)2.92%$82.59M13.53%17.15%2.26
PropertyGuru Group Ltd. (PGRU)2.91%$564.97M17.22%18.94%3.39
Innovative Solutions & Support, Inc. (ISSC)2.86%$142.12M42.84%59.34%4.23
Sono-Tek Corp. (SOTK)2.85%$86.90M58.67%51.42%3.56
Daily Journal Corp. (DJCO)2.82%$450.29M30.01%15.01%2.89
Concrete Pumping Holdings, Inc. (BBCP)2.82%$436.43M10.20%35.50%1.82
Issuer Direct Corp. (ISDR)2.76%$57.77M43.35%66.65%2.67
Full House Resorts, Inc. (FLL)2.76%$174.67M72.84%46.76%2.71 Group Ltd. (GAMB)2.58%$332.00M19.39%88.78%4.94
Surmodics, Inc. (SRDX)2.57%$463.52M22.54%68.34%3.70
Innodata, Inc. (INOD)2.53%$216.76M9.84%36.06%2.63
Alimera Sciences, Inc. (ALIM)2.53%$175.07M71.82%74.67%2.31
Profire Energy, Inc. (PFIE)2.52%$69.00M15.59%49.44%2.19
RGC Resources, Inc. (RGCO)2.51%$191.38M-26.63%29.83%3.96
Paymentus Holdings, Inc. (PAY)2.47%$317.48M18.94%29.46%3.32
Riley Exploration Permian, Inc. (REPX)2.40%$472.66M22.96%75.71%2.86
Consolidated Water Co. Ltd. (CWCO)2.37%$458.57M99.00%33.33%2.65
AirSculpt Technologies, Inc. (AIRS)2.34%$347.40M16.07%56.99%2.63
Seacor Marine Holdings, Inc. (SMHI)2.31%$283.82M26.40%30.83%2.47
Xponential Fitness, Inc. (XPOF)2.27%$300.88M26.15%74.84%3.49
Tucows, Inc. (TCX)2.24%$204.61M5.67%19.65%N/A
Soho House & Co., Inc. (MCG)2.18%$311.67M13.12%18.69%3.07
OppFi, Inc. (OPFI)2.13%$59.03M43.78%95.88%2.01
SoundThinking, Inc. (SSTI)1.92%$222.74M14.46%56.99%3.44
Century Casinos, Inc. (CNTY)1.78%$87.74M43.20%35.56%2.12
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