River Road Asset Management, an investment management company released its “River Road Small Cap Value Fund” Q4 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, AMG River Road Small Cap Value Fund (Class N) returned 7.35% compared to -1.06% returns for the Russell 2000® Value Index. For the year 2024, the fund returned 14.07%, significantly outperforming Index return of 8.06%. Stocks rallied in November after a Republican victory but declined sharply following hawkish Fed comments. Shorter duration stocks, including small caps and value, lost most of their post-election gains by the end of December. Small caps lagged their large counter parts for eight consecutive years. For more information on the fund’s best picks in 2024, please check its top five holdings. In its fourth quarter 2024 investor letter, River Road Small Cap Value Fund emphasized stocks such as GXO Logistics, Inc. (NYSE:GXO). Incorporated in 2021, GXO Logistics, Inc. (NYSE:GXO) is a logistics services provider. The one-month return of GXO Logistics, Inc. (NYSE:GXO) was 2.36%, and its shares lost 23.11% of their value over the last 52 weeks. On April 1, 2025, GXO Logistics, Inc. (NYSE:GXO) stock closed at $39.39 per share with a market capitalization of $4.708 billion. River Road Small Cap Value Fund stated the following regarding GXO Logistics, Inc. (NYSE:GXO) in its Q4 2024 investor letter: