Round Table (May 2026)
In this May 2026 Manifest Investing Roundtable, Ken Kavula, Mark Robertson, and Cy Lynch discussed the performance of their investment portfolio and conducted an in-depth analysis of UFP Technologies (USPT). The speakers highlighted that their roundtable portfolio has achieved a 16.4% annualized return over 15+ years, significantly outperforming the broader market. They emphasized the importance of tracking against equally-weighted indices like RSP rather than cap-weighted indices to better reflect small and mid-cap stock selection strategies. The discussion included insights on market concentration risks from the "Mag 7" mega-cap stocks and how small-cap stocks have recently begun to recover. Ken Kavula presented a detailed fundamental analysis of UFP Technologies, a vertically integrated medical device supplier headquartered in Massachusetts, highlighting its exclusive contract with Intuitive Surgical for surgical drapes and its focus on high-growth market segments (10%+ annually) within the medical technology sector.