Hood River Capital Management

What Hood River Capital Management does

Hood River Capital Management LLC is a 100% employee-owned, SEC-registered investment adviser founded in 2013 by Brian Smoluch and David Swank as a spinoff from Roxbury Capital Management. The firm operates as a boutique long-only equity manager focused on small-cap and mid-cap growth strategies across U.S., international, and emerging markets. Core products include four open-end mutual funds—the U.S. Small-Cap Growth Fund (HRSMX), New Opportunities Fund (HRNOX, inception 8/5/24), International Opportunity Fund (HRIOX, inception 9/28/21), and Emerging Markets Fund (inception 11/24/25)—alongside separately managed accounts, a Collective Investment Trust for tax-qualified pension plans (trustee: SEI Trust Company), and a newly launched Private Growth Strategy targeting late-stage pre-IPO investments with near-term liquidity paths. Distribution is led by three Directors of Sales and two Sales Representatives across institutional, HNW, and retail channels, with mutual funds distributed by Quasar Distributors, LLC.

The firm's investment process is built on proprietary fundamental research designed to identify information gaps between its earnings estimates and Wall Street consensus. Portfolios typically hold 60-120 positions benchmarked to Russell 2000 Growth, Russell 2500 Growth, MSCI ACWI ex USA Small Cap, or MSCI Emerging Markets indices, constructed around high-quality companies expected to grow earnings above-market rates at attractive valuations. The firm reports $8.47 billion in reportable U.S. equity AUM as of 9/30/2025 and has earned Morningstar 5-star ratings on both the Small-Cap Growth and International Opportunity institutional share classes, top 1-2% percentile peer rankings, and inclusion on Morningstar's Prospects List in August 2025.

Revenue is generated through investment management fees calculated as a percentage of assets under management, with institutional share class gross expense ratios around 1.07% for the flagship Small-Cap Growth Fund and higher gross ratios (1.60-2.36%) for smaller, newer vehicles. Customers span institutional investors (pension funds, endowments, foundations), high-net-worth individuals, retirement plan sponsors, and individual investors across three share class tiers (Institutional, Investor, Retirement). The firm is headquartered in Palm Beach Gardens, Florida, with operations also anchored in Minnetonka, Minnesota, and operates a lean team of portfolio managers, research analysts, sales, trading, and operations staff. No external parent company or private equity ownership is in place; equity remains concentrated equally among three principals.

Name

Hood River Capital Management

Legal name

Hood River Capital Management LLC

Website

https://hoodrivercapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Hood River Capital Management is a 100% employee-owned SEC-registered boutique investment adviser managing roughly $8.47 billion across U.S., international, and emerging markets small-cap and mid-cap growth equity mutual funds, SMAs, a CIT, and a new private growth strategy for institutional, retirement plan, HNW, and retail investors.

Ownership category

akta.pro rank

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Small-Cap Equity (Active) (FSAAAIAC)

akta.pro secondary industry

Mid-Cap Equity (Active) (FSAAAIAB)

Keywords

• Equity investment management
• Small-cap growth funds
• Separately managed accounts
• Collective investment trusts
• Fundamental equity research

Headquarters

HQ city

Palm Beach Gardens

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Investment Management Fees: Hood River Capital Management generates revenue through investment advisory fees charged as a percentage of assets under management (AUM). The firm manages multiple mutual funds and separately managed accounts, with fee structures varying by share class. Institutional share classes typically carry lower expense ratios (1.07% gross for HRSMX) compared to investor shares (1.32%). The firm also earns fees from its Collective Investment Trust (CIT) for tax-qualified pension plans.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Hood River Capital Management is an SEC Registered Investment Adviser that manages long-only equity portfolios focused on U.S. and international small-cap and mid-cap growth companies, plus a private growth strategy. The firm distributes its strategies via open-end mutual funds (U.S. Small-Cap Growth, New Opportunities, International Opportunity, Emerging Markets), separately managed accounts, collective investment trusts for pension plans, and a late-stage private growth strategy, applying a proprietary fundamental research process designed to identify information gaps and generate alpha.

Product overview

Hood River Capital Management is an SEC Registered Investment Adviser offering a suite of long-only equity investment products focused on small and mid-cap growth strategies. The firm manages four open-end mutual funds—the U.S. Small-Cap Growth Fund (HRSMX), New Opportunities Fund (HRNOX), International Opportunity Fund (HRIOX), and the recently launched Emerging Markets Fund—alongside separate managed accounts, a Collective Investment Trust (CIT), and a Private Growth strategy for late-stage pre-IPO investments. All strategies utilize a proprietary fundamental research process designed to identify information gaps between internal earnings estimates and market expectations.

Differentiator

Problem solved

Functional benefit

Brands

• Hood River Small Cap Growth Fund: A long-only portfolio of 60-120 U.S. small-cap growth stocks benchmarked to the Russell 2000 Growth Index, available via mutual fund and separately managed accounts.
• Hood River New Opportunities Fund
• Hood River International Opportunity Fund
• Hood River Emerging Markets Fund
• Hood River Private Growth Strategy

Quantifiable outcome

• Hood River Small-Cap Growth Fund (HRSMX) returned 53.72% over 1-year, 26.46% annualized over 3-years, and 13.90% annualized since inception (1/2/03), outperforming Russell 2000 Growth Index by 30.14%, 14.19%, and 3.99% respectively as of 3/31/26
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Wasatch Advisors: Employee-owned boutique manager specializing in U.S. small-cap and small/mid-cap growth equity strategies, directly comparable to Hood River's flagship approach of fundamental research in inefficient small-cap markets.
• Roxbury Capital Management: The firm from which Hood River's founders spun out in 2013, managing a small/mid-cap growth strategy with a fundamentally similar process and client base.
• Brown Capital Management: Employee-owned boutique specializing in small/mid-cap growth equity, with a multi-decade fundamental research process directly comparable to Hood River's edge in inefficient segments.
• Ariel Investments: Employee-owned boutique with deep small/mid-cap equity expertise, offering comparable fundamental active strategies to institutional and individual clients.
• Westwood Holdings: Active equity manager with significant small/mid-cap growth and value offerings, competing for institutional and intermediary distribution in the same fund categories.
• Mar Vista Investment Partners: West LA-based boutique with quality-focused U.S. and international small/mid-cap strategies, similar in profile and process orientation to Hood River.
• Royce Investment Partners: Specialist manager focused on small-cap and small/mid-cap equity strategies, addressing the same investor base seeking fundamental exposure to U.S. smaller-cap names.

Broad incumbents

• Eaton Vance: Large diversified active manager (now part of Morgan Stanley Investment Management) with active equity strategies spanning small-cap, international, and emerging markets, competing for similar institutional and intermediary mandates.
• TCW Group: Large active asset manager with equity, fixed income, and alternative strategies; offers U.S. small/mid-cap growth products that compete for similar institutional and intermediary distribution channels.
• Calvert Management: Established active equity manager with multi-cap strategies, including small/mid-cap growth exposure, serving institutional and intermediary clients in similar channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hood River Capital Management