Cullen Capital Management, LLC, doing business as Schafer Cullen Capital Management, Inc. (SCCM), has released its third quarter investor letter “SCCM Small Cap Value Equity Strategy.” A copy of the letter can be downloaded here. The US stock market continued its recovery in the third quarter, with the Russell 2000 returning 12.4% and the Russell 2000 Value rising 12.6%. The Small Cap Value Equity strategy returned 14.4% (gross of fees) and 14.2% (net of fees) for the quarter. Small caps delivered strong results in the quarter, boosted by Federal Reserve rate cuts, broad-based economic resilience and investors’ renewed appetite for risk. Additionally, you can check out the fund’s top five holdings to determine your best picks for 2025.
In its Q3 2025 investor letter, SCCM Small Cap Value Equity Strategy highlighted stocks like Quaker Chemical Corporation (NYSE:KWR). Quaker Chemical Corporation (NYSE:KWR) provides industrial process fluids for steel, aluminum, automotive, aerospace, offshore, cans, mining and metallurgy companies. Quaker Chemical Corporation (NYSE:KWR)’s monthly performance was 2.48% and its shares lost 13.72% of its value in the last 52 weeks. On November 24, 2025, Quaker Chemical Corporation (NYSE:KWR) stock closed at $136.15 per share, with a market capitalization of $2.368 billion.
SCCM Small Cap Value Equity Strategy stated the following regarding Quaker Chemical Corporation (NYSE:KWR) in its Q3 2025 investor letter:
“Quaker Chemical Corporation (NYSE:KWR) is a global leader in industrial process fluids, lubricants and specialty chemicals serving the metals, steel, automotive, aerospace and general manufacturing industries. The company offers mission-critical products that improve process efficiency, extend equipment life, and support sustainability initiatives across diverse industrial supply chains. Quaker Houghton has built a resilient business model characterized by high customer retention, strong pricing power and disciplined execution through economic cycles. Its management team continues to effectively navigate commodity volatility while expanding margins through operational efficiencies and innovation-driven product differentiation. The company’s exposure to industrial production, infrastructure investment and reshoring trends should position it to benefit from a sustained recovery in global manufacturing. Continued penetration into international markets, particularly emerging economies, together with prudent capital allocation and ongoing sustainability initiatives, support durable earnings growth and attractive long-term capitalization potential. With a strong balance sheet, strong free cash flow generation and expanding strategic partnerships, Quaker Houghton represents a high-quality franchise poised to outperform in the next phase of the cycle.”
