Congress SMID Growth ETF
CSMD
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- Congress SMID Growth ETF (CSMD) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing primarily in equity securities of small- and mid-capitalization U.S. companies exhibiting earnings growth potential; it defines SMid-capitalization consistent with the Russell 2500 Growth Index and employs a bottom-up, fundamentals-driven approach emphasizing established profitability, positive free cash flow, prudent leverage, and strong competitive positions in expanding industries. The fund offers exposure to a diversified portfolio of approximately 40-45 growth-oriented stocks across sectors such as industrials, technology, healthcare, and consumer discretionary, with top holdings including Comfort Systems USA Inc., Curtiss-Wright Corp., CyberArk Software Ltd., and Sterling Infrastructure Inc.; it maintains a net expense ratio of 0.68%, trades on the NYSE Arca exchange under ticker CSMD, and had total net assets exceeding $350 million as of late 2025. Geographically, CSMD focuses on U.S.-domiciled equities with minor non-U.S. exposure (around 3%), targeting institutional and retail investors seeking mid-cap growth opportunities. CSMD was launched on August 21, 2023, and is managed by Congress Asset Management Company, LLP, a Boston-based, privately owned investment adviser founded in 1985 with its headquarters at 2 Seaport Lane, Boston, Massachusetts; the firm oversees the Investment Policy Committee, including co-chairs Nancy Huynh and Daniel Lagan, CFA, applying its growth-style expertise across equity strategies. The ETF is distributed by Quasar Distributors, LLC, and operates as an open-ended investment company without front-end or deferred loads. In recent developments, Congress Asset Management grew its assets under management to approximately $23 billion firm-wide by late 2025, supported by technology modernization initiatives such as adopting the Ridgeline cloud-native platform for investment and trade lifecycle management in November 2025; while no direct acquisitions or partnerships specific to CSMD were reported in 2024-2025, the firm expanded positions in select holdings and maintained steady AUM growth for the ETF amid volatile small- and mid-cap markets.