Thrivent Small Cap Growth Fund generated a return of -0.76% during the quarter versus a -2.81% return for the Russell 2000 Growth Index.
Silicon Laboratories, a semiconductor company focused on wireless connectivity for internet of things, agreed to be acquired by Texas Instruments in February 2026 for a significant premium.
RBC Bearings Incorporated has benefited from continued strength in commercial aerospace and defense, along with an emerging inflection in industrial demand following a three-year downcycle.
Inspire Medical Systems, Inc. saw growth slow amid a national rollout of their new Inspire V product and intended to spend significantly more on marketing to drive growth.
J&J Snack Foods saw its growth decline primarily driven by weaker sales in frozen beverages and foodservice, influenced by softer traffic in the theater channel.
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Executive Summary
The Fund outperformed the Russell 2000 Growth Index during the first quarter of 2026. The primary driver of outperformance in the quarter was stock selection in the information technology sector.
