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Brown Capital Management, an investment management company, released its “The Brown Capital Management Small Company Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The Small Company Fund returned -6.57%, underperforming the Russell 2000 Growth index’s 2.92% decline. Fundamental and macroeconomic factors drove the underperformance of the fund in the quarter. The fund aims to identify and invest in Exceptional Growth Companies (EGCs) that focus on products and services their customers cannot live without. In addition, check the fund’s top five holdings to know its best picks in 2024.
Brown Capital Management Small Company Fund highlighted stocks like Cryoport, Inc. (NASDAQ:CYRX) in the second quarter 2024 investor letter. Cryoport, Inc. (NASDAQ:CYRX) is a temperature-controlled supply chain solutions provider. The one-month return of Cryoport, Inc. (NASDAQ:CYRX) was 4.34%, and its shares lost 34.80% of their value over the last 52 weeks. On September 6, 2024, Cryoport, Inc. (NASDAQ:CYRX) stock closed at $8.17 per share with a market capitalization of $403.698 million.
Brown Capital Management Small Company Fund stated the following regarding Cryoport, Inc. (NASDAQ:CYRX) in its Q2 2024 investor letter:
"Cryoport, Inc. (NASDAQ:CYRX) is a cold-chain logistics company focused primarily on the rapidly growing cell- and gene-therapy industry. Cryoport uses proprietary packaging, shippers, informatics technology, and continuous tracking and monitoring to provide temperature-controlled transport and logistics to pharmaceutical companies and biotechs. Tissue samples or pharmaceutical treatments can be maintained during transport at cryogenic temperatures (-94 degrees Celsius) for 10 days or more. Cryoport also sells products including cryogenic and other types of freezers and shippers to pharmaceutical companies, research laboratories, governments and academic institutions.