USSE Segall Bryant & Hamill Select Equity ETF

Segall Bryant & Hamill Select Equity ETF (USSE) currently reports 21 stock positions (subject to change), placing it in the concentrated range by holdings breadth. The top line-up is GOOG (7.43%), NVDA (6.79%), ATI (6.63%), with GOOG as the largest single weight at 7.43%. Together, the top three holdings account for 20.85%, which indicates that performance drivers are distributed more evenly across the broader basket. This architecture allows the fund to express a clear investment thesis at the top while relying on the broader basket to manage idiosyncratic volatility.

From a capital efficiency perspective, ROIC is 40.64%, WACC is 9.83%, and the economic spread is 30.81%. On balance, the portfolio's holdings exhibit an exceptional economic spread, compounding intrinsic value at a rate few funds can match. Supporting metrics show ROE at 37.31% and ROA at 12.84%, a combination that helps frame whether profitability strength is broad enough to hold through different market conditions. Taken together, the return profile suggests a portfolio with credible compounding capacity if current operating execution persists.

Multiple analysis puts the portfolio at trailing P/E of 26.70, forward P/E of 21.26, PEG of 7.51. Trailing P/E sits modestly above forward P/E, a spread that is consistent with steady earnings progress and limited near-term re-rating potential. Growth-adjusted, the portfolio is priced at a premium — a level that demands consistent execution and limits the potential for multiple expansion from here. At 1.92, the aggregate current ratio indicates adequate but not exceptional balance sheet coverage. The combined valuation and liquidity profile points to a portfolio where current prices embed meaningful growth expectations, and where delivery against those expectations will drive the return outcome.

On the margin front: gross margin sits at 49.33%, operating margin at 22.65%, and free cash flow margin at 21.18%. At this level, the portfolio reflects reasonable cost discipline and adequate pricing leverage at the production layer. Operating margins sit in a healthy range — not exceptional, but indicating reasonable operational efficiency. Strong free cash flow margins point to businesses with meaningful financial flexibility and limited dependence on external capital. The margin stack is not uniformly strong, which means the portfolio's earnings resilience under adverse conditions is less certain.

On the forward picture: TTM revenue growth of 16.85% reflecting consistent if unspectacular revenue expansion. Consensus EPS estimates point to 25.6% earnings growth over the next 12 months — a compelling near-term earnings catalyst that, if delivered, changes the valuation conversation materially. Analyst price targets suggest street expectations imply a constructive but measured return profile on a 12-month view. Revenue growth is grounded in reported results; price targets are forward projections that embed assumptions about multiple expansion, earnings delivery, and macro conditions. The key risk in both directions is whether the underlying businesses can maintain their operating trajectory as macro and sector conditions evolve. The estimated 12-month price change is a weighted composite of analyst price target estimates adjusted by each holding's ETF weight, sourced from publicly available data, and should not be interpreted as a reliable prediction of future performance.

Across the metrics reviewed, the evidence is consistently constructive — quality, growth, and valuation are pulling in the same direction.

The views expressed above are derived from quantitative data only and should not be relied upon as financial advice. Investment decisions should be based on your own research and risk tolerance.