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Palm Valley Capital Management reported that its fund gained 1.61% in the third quarter of 2026, a performance that outpaced the S&P SmallCap 600 Index, which fell 7.93%, and the Morningstar Small Cap Total Return Index, which decreased by 5.60%.
The firm attributed the positive results largely to positions in staffing companies, noting that Kelly Services, Inc. (NASDAQ: KELYA) was a leading contributor to the fund's return during the period.
In its investor letter, Palm Valley Capital stated that Kelly Services, ManpowerGroup (MAN), and Amdocs (DOX) were the three positions contributing most to the Fund's return.
The firm explained that demand for Kelly and Manpower shares rose as investors bet on a turnaround in the staffing industry.
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