SMid Cap

Focused on investing across the growth/value spectrum



  • A research-intensive approach is used to build diversified portfolios with stocks in a variety of different industries and sectors
  • The team seeks to uncover companies that have attractive valuations and should experience solid earnings growth on an intermediate-term basis
  • The underlying philosophy is to buy businesses rather than just stocks



Composite Inception: 5/31/04
Strategy AUM: $1.3 Billion as of 3/31/20
Benchmark: Russell 2500TM Index
No. of Holdings: Typically 110 – 135
Avg. Position Size: <2.5%
Turnover: 40– 60% under normal market conditions
Active Share: Approximately 90%
Cash: <5%
Available Vehicles:
  • Institutional Separate Account
  • Mutual Fund
  • Managed Account (SMA)


Jason M. Swiatek, CFA

Jason M. Swiatek, CFA

Managing Director

Jason M. Swiatek, CFA

Managing Director

Jonathan M. Shapiro

Jonathan M. Shapiro

Managing Director

Jonathan M. Shapiro

Managing Director


Our SMid Cap team includes two portfolio managers and three research professionals. The investment universe is divided by sectors and/or industries, with individual team members having responsibility within their areas of expertise. Portfolio managers and analysts continually discuss the merits and risks of each security, reviewing the fundamental outlook and stock valuation. This interactive process leverages the knowledge and skill of the entire investment team.

Meet The Team


As of March 31, 2020Qtr1 Year3 Year5 Year10 YearSince Inception
SMid Cap Core Equity Composite - Gross-35.3-27.8-5.9-
SMid Cap Core Equity Composite - Net*-35.4-28.4-6.7-
Russell 2500 Index-29.7-22.5-

*Beginning 1/1/10, net of fees performance shown reflects the deduction of a model fee.
Source: Jennison/Mellon Analytical Solutions. Source for Russell® Index data: Mellon Analytical Solutions. Past performance does not guarantee future results. Performance results are calculated in US dollars and reflect reinvestment of dividends and other earnings. Inception of SMid Cap Core Equity Composite: 5/31/04. Periods greater than one year are annualized. Please refer to the GIPS presentation for additional details, important performance information and disclosures.

This website is intended for Institutional and Professional Investors only. All investments involve risk, including the possible loss of capital.

Important Disclosures

Jennison Associates is a registered investment advisor and a Prudential Financial company. Jennison Associates LLC has not been licensed or registered to provide investment services in any jurisdiction outside the United States. Certain investment vehicles are distributed or offered through Prudential Investment Management Services LLC (also a Prudential Financial Company) or other affiliated entities. Additionally, vehicles may not be registered or available for investment in all jurisdictions.

Please click on this disclosure link for important information, including information on non-US jurisdictions.

This web site is not intended as an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services. It does not constitute investment advice, should not be used as the basis for any investment decision, and does not purport to provide any legal, tax or accounting advice. This is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

Your investment objectives, risk tolerance, and liquidity needs must be reviewed before suitable programs can be recommended. Asset allocation and diversification strategies do not assure a profit or protect against loss in declining markets. Investors should consult with their attorney, accountant, and/or tax professional for advice concerning their particular situation.

Please remember that there are inherent risks involved with investing in the markets, and your investments may be worth more or less than your initial investment upon redemption. There is no guarantee that the investment managers’ objectives will be achieved. Further, there is no assurance that any strategies, methods, sectors, or any investment programs herein were or will prove to be profitable, or that any investment recommendations or decisions we make in the future will be profitable for any investor or client. Professional money management is not suitable for all investors.

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