Kennedy Capital Management
Kennedy Capital Management is a St. Louis-based boutique investment firm founded in 1980 that manages U.S. micro-, small-, and mid-cap equity strategies for institutional investors and high-net-worth individuals through separately managed accounts and a proprietary mutual fund complex.
- Company typePrivate
- Founded1980
- HeadquartersSt Louis, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Kennedy Capital Management does
Kennedy Capital Management LLC (KCM) is a St. Louis-based boutique investment firm founded in 1980 that specializes in U.S. micro-, small-, and mid-cap domestic equity strategies. The firm serves institutional investors — including pension funds, endowments, foundations, and not-for-profit organizations — as well as high-net-worth individuals, through both separately managed accounts and a proprietary mutual fund complex (KVALX, KGROX, KESGX) distributed via IMST Distributors and subadvised channels such as the North Square Kennedy MicroCap Fund.
KCM's product platform is organized into four families: Value (Small Cap Value, SMID Cap Value, Mid Cap Value, All Cap Value), Core (Micro Cap, Micro Cap Opportunities, Small Cap Select, Small Cap Select SRI, Small/Mid Cap Core, ESG SMID Cap), Growth (Small Cap Growth, SMID Cap Growth), and Sector (Bank Sector, Global Health Care Sector, Biotechnology Sector). Underlying these strategies is a centralized, bottom-up proprietary research process driven by a team of more than a dozen sector-specific analysts, with a proprietary ESG integration framework that does not rely on third-party rankings. The firm is registered with the SEC under the Investment Advisers Act of 1940 and reorganized from a corporation to a Missouri LLC in November 2022.
KCM monetizes primarily through recurring investment advisory fees on AUM, with performance-based compensation structures designed to align firm and client outcomes. Distribution is sales-led, executed through a dedicated Director of Consultant Relations and Institutional Sales, content marketing (quarterly commentaries, investment perspectives, ESG reports), and a strategic partnership with Azimut Group. The firm is privately held, has no parent company, and has not raised external venture or private equity funding.
Kennedy Capital Management firmographics
Firmographics- Name
- Kennedy Capital Management
- Legal name
- Kennedy Capital Management LLC
- Website
- https://kennedycapital.com
- Company type
- Private
- Founded year
- 1980
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Kennedy Capital Management is a St. Louis-based boutique investment firm founded in 1980 that manages U.S. micro-, small-, and mid-cap equity strategies for institutional investors and high-net-worth individuals through separately managed accounts and a proprietary mutual fund complex.
- Ownership category
- akta.pro rank
Kennedy Capital Management industry classification
Industry- Product category
- Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Small-Cap Equity (Active) (FSAAAIAC)
- akta.pro secondary industry
- SDG / Thematic Sustainable Investment Funds (FSANAJAN)
Keywords
Where Kennedy Capital Management is headquartered
LocationHeadquarters
- HQ city
- St Louis
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Kennedy Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D, Others
Revenue model
- Investment Advisory Fees (Separate Accounts): KCM earns investment advisory fees from separately managed accounts for institutional clients and high-net-worth individuals. Fees are based on assets under management with performance-based compensation structures that align firm interests with client outcomes.
- Mutual Fund Management Fees: KCM earns management fees from proprietary mutual funds including Small Cap Value Fund (KVALX), Small Cap Growth Fund (KGROX), and ESG SMID Cap Fund (KESGX). The ESG SMID Cap Fund has a management fee of 0.75% with expense ratios of 1.08% gross and 0.82% net (contractually capped until April 2027).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | ESG SMID Cap Fund (KESGX) - Institutional share class with $5,000 minimum initial investment |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Kennedy Capital Management product offering
Product offeringCore offering
Kennedy Capital Management (KCM) is a St. Louis-based boutique investment firm that provides separately managed account strategies and proprietary mutual funds focused on U.S. micro-, small-, and mid-cap domestic equities. The firm operates value, core, growth, and sector strategies for institutional clients and high-net-worth individuals, with all strategies powered by a centralized, bottom-up proprietary research team of sector-specific analysts. KCM also distributes three mutual funds — Small Cap Value Fund (KVALX), Small Cap Growth Fund (KGROX), and ESG SMID Cap Fund (KESGX) — through IMST Distributors.
Product overview
Kennedy Capital Management (KCM) is a boutique investment firm offering separately managed accounts and mutual funds focused on micro, small, and mid-cap domestic equity markets. The firm operates a multi-strategy platform organized into four categories: Value strategies (Small Cap Value, SMID Cap Value, Mid Cap Value, All Cap Value) targeting various market cap segments; Core strategies (Micro Cap, Micro Cap Opportunities, Small Cap Select, Small Cap Select SRI, Small/Mid Cap Core, ESG SMID Cap) providing diversified core exposure with different emphasis areas; Growth strategies (Small Cap Growth, SMID Cap Growth) focused on growth-oriented small/mid caps; and Sector strategies (Bank Sector, Global Health Care Sector, Biotechnology Sector) offering sector-specific expertise. The firm also offers three mutual funds: Small Cap Value Fund (KVALX), Small Cap Growth Fund (KGROX), and ESG SMID Cap Fund (KESGX). All strategies are powered by a centralized research team of sector-specific analysts using a bottom-up proprietary research process developed over more than 45 years of operation.
Differentiator
Problem solved
Functional benefit
Brands
- ESG SMID Cap Fund: ESG-focused SMID cap equity fund
- Small Cap Value Fund (KVALX)
- Small Cap Growth Fund (KGROX)
- North Square Kennedy MicroCap Fund
Products and services
- Small Cap Value Strategy Separately managed value-oriented strategy investing in small-cap domestic equity securities; offered to institutional clients and high-net-worth individuals.
- SMID Cap Value Strategy Separately managed value-oriented strategy focused on small- and mid-cap domestic equity securities.
- Mid Cap Value Strategy Separately managed value-oriented strategy focused on mid-cap domestic equity securities, managed by Frank Latuda Jr. as CIO/Portfolio Manager.
- All Cap Value Strategy Separately managed value-oriented strategy covering the full spectrum of domestic equity market capitalizations.
- Micro Cap Strategy Core separately managed strategy focused on micro-cap domestic equity securities.
- Micro Cap Opportunities Strategy Opportunistic separately managed strategy focused on micro-cap domestic equities with emphasis on alpha generation.
- Small Cap Select Strategy Core separately managed strategy focused on small-cap domestic equity securities.
- Small Cap Select SRI Strategy Separately managed small-cap strategy incorporating social responsibility investment criteria.
- Small/Mid Cap Core Strategy Core separately managed strategy covering both small- and mid-cap domestic equity securities.
- ESG SMID Cap Strategy ESG-integrated separately managed strategy focused on small- and mid-cap domestic equities, fossil fuel free with exclusionary screens.
- Small Cap Growth Strategy Separately managed growth-oriented strategy focused on small-cap domestic equity securities, managed by Jean Barnard and Ryan Dunnegan.
- SMID Cap Growth Strategy Separately managed growth-oriented strategy focused on small- and mid-cap domestic equity securities.
- Bank Sector Strategy Separately managed specialized strategy focused on domestic bank sector equities.
- Global Health Care Sector Strategy Separately managed specialized strategy focused on global health care sector equities.
- Biotechnology Sector Strategy Separately managed specialized strategy focused on biotechnology sector equities.
- Small Cap Value Fund (KVALX) Proprietary mutual fund investing in small-cap value domestic equity securities, benchmarked against the Russell 2000 Value Index.
- Small Cap Growth Fund (KGROX) Proprietary mutual fund investing in small-cap growth domestic equity securities, benchmarked against the Russell 2000 Growth Index.
- ESG SMID Cap Fund (KESGX) Fossil fuel free proprietary mutual fund investing in ESG-screened small- and mid-cap domestic equity securities, benchmarked against the Russell 2500 Index. Inception June 28, 2019. Gross expense ratio 1.08%, net 0.82%.
- North Square Kennedy MicroCap Fund Sub-advised mutual fund offered through North Square Investments, managed by KCM's 20-year portfolio manager veteran Sean McMahon. Reached $21.78 million AUM by May 31, 2025 and ranked first among 609 funds in Morningstar Small Blend category (top 1%) for the one-year period ending June 10, 2025.
Quantifiable outcome
- North Square Kennedy MicroCap Fund ranked first among 609 funds in Morningstar Small Blend category (top 1%) for one-year period ending June 10, 2025
- +2 more outcomes
Companies that use Kennedy Capital Management
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles3 records
Kennedy Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Kennedy Capital Management partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Azimut GroupcoreKennedy Capital Management and Azimut Group Form Strategic Partnership in 2022. The relationship is designed to benefit clients and strengthen both firms through strategic collaboration in the investment management space.
- North Square InvestmentscoreNorth Square Investments subadvises the North Square Kennedy MicroCap Fund, with KCM serving as the subadvisor. The 20-year portfolio manager veteran Sean McMahon is credited with the strong performance that resulted in top 1% ranking among Morningstar peers.
- IMST DistributorscoreIMST Distributors serves as the distributor for KCM's proprietary mutual funds including Small Cap Value Fund (KVALX), Small Cap Growth Fund (KGROX), and ESG SMID Cap Fund (KESGX).
- MorningstarminorMorningstar provides independent fund ratings for KCM's mutual funds including the Small Cap Value Fund and ESG SMID Cap Fund. KCM has paid standard fees to Morningstar for access to rankings data.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Kennedy Capital Management competitors and assessment
Company assessmentDirect peers
- Artisan Partners: Public U.S. mid-market asset manager with multiple small/mid-cap and sector equity strategies (e.g., Artisan Small Cap, Mid Cap Value). Comparable multi-strategy boutique model with similar institutional distribution and PM-team structure.
- Ariel Investments: Private Chicago-based boutique focused on U.S. small/mid-cap value equity for institutional and retail clients. Closely comparable to KCM's value-tilted micro/small-cap approach and similar institutional/HNW client mix.
- Westwood Holdings Group: Public U.S. boutique asset manager (~15B AUM) offering U.S. small-cap and SMID-cap equity strategies. Closely comparable to KCM in product mix (small/mid cap equity) and boutique institutional positioning, though Westwood is publicly traded and broader in scope.
- Dimensional Fund Advisors: Large systematic/active U.S. equity manager with substantial small/mid-cap strategies. Comparable on product category (U.S. small-cap equity) and institutional client base, though fundamentally different in research philosophy (systematic vs. fundamental bottom-up).
- Hodges Capital Management: Dallas-based boutique offering small/mid-cap equity strategies (value and growth) and mutual funds for retail and institutional clients. Directly comparable to KCM on small-cap mutual fund offerings (KVALX/KGROX) and separate account strategies.
- Wasatch Advisors: Salt Lake City-based boutique focused on U.S. small-cap and SMID-cap growth equities with a strong institutional and mutual fund presence. Directly comparable to KCM's growth-oriented small-cap strategies and ESG/sustainable product offerings.
- Royce Investment Partners: Specialist small-cap equity manager (publicly traded affiliates, multi-billion AUM) running both value and growth small-cap strategies. Directly comparable to KCM's small-cap value (KVALX) and growth (KGROX) mutual fund offerings and separate accounts.
- Tributary Capital Management: Boutique small-cap equity manager based in Nebraska, offering dedicated small-cap strategies to institutional clients. Closely comparable in size, niche focus (small-cap U.S. equities), and institutional separate account model.
Broad incumbents
- T. Rowe Price: Large global asset manager with broad small/mid-cap and SMID-cap equity offerings across value, growth, and ESG styles. Represents a major incumbent competitor for pension/consultant mandates that KCM targets, though at vastly greater scale.
- Invesco: Global asset manager with multiple small-cap and sector equity funds (e.g., Invesco Small Cap Value, sector strategies). Comparable in offering small-cap and sector-specific equity strategies, but at significantly greater scale and broader distribution than KCM.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Kennedy Capital Management social profiles
Digital presenceKennedy Capital Management compliance and trust
Trust signalCompliance2 records
Kennedy Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kennedy Capital Management leadership team
Management profileNumber of profiles
Profiles16 records
Kennedy Capital Management funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kennedy Capital Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kennedy Capital Management
What does Kennedy Capital Management do?
Kennedy Capital Management (KCM) is a St. Louis-based boutique investment firm that provides separately managed account strategies and proprietary mutual funds focused on U.S. micro-, small-, and mid-cap domestic equities. The firm operates value, core, growth, and sector strategies for institutional clients and high-net-worth individuals, with all strategies powered by a centralized, bottom-up proprietary research team of sector-specific analysts. KCM also distributes three mutual funds — Small Cap Value Fund (KVALX), Small Cap Growth Fund (KGROX), and ESG SMID Cap Fund (KESGX) — through IMST Distributors.
Is Kennedy Capital Management a public or private company?
Kennedy Capital Management is a private company. It is classified as management employee owned and is currently operating.
When was Kennedy Capital Management founded?
Kennedy Capital Management was founded in 1980. It employs 51 to 100 people.
Where is Kennedy Capital Management based?
Kennedy Capital Management is headquartered in St Louis, United States, in the North America region.
How does Kennedy Capital Management make money?
Two revenue lines are on record. Investment Advisory Fees (Separate Accounts) is the primary driver. The others are mutual Fund Management Fees.
Who are Kennedy Capital Management's main competitors?
Direct peers on record are Artisan Partners, Ariel Investments, Westwood Holdings Group, Dimensional Fund Advisors, Hodges Capital Management, Wasatch Advisors, Royce Investment Partners and Tributary Capital Management. Broad incumbents are T. Rowe Price and Invesco.
Does Kennedy Capital Management have an API?
No public API is recorded for Kennedy Capital Management.
What industry is Kennedy Capital Management in?
Kennedy Capital Management's product category is Investment Management. Its primary akta.pro industry code is FSAAAIAC, Small-Cap Equity (Active), with a secondary code of FSANAJAN, SDG / Thematic Sustainable Investment Funds. Its NAICS code is 523940 and its SIC code is 6282.