Thrivent Small Cap Growth Fund Q2 2026 Portfolio Review

Thrivent Small Cap Growth Fund returned 25.54% during the quarter, modestly underperforming the Russell 2000 Growth Index return of 25.71%.

JFrog reported stronger than expected revenue growth, reinforcing the view that customers are consolidating around JFrog as software delivery and AI-assisted development become more complex.

Guidewire underperformed amid a valuation reset in higher-multiple software in addition to not raising its FY26 ARR guide due to timing of a few deals slipping to the subsequent quarter.

We exited GeneDx after the company’s first-quarter results reduced our confidence in the revenue and profitability trajectory.

JFrog Ltd. ( FROG ) – JFrog execution remained strong across its DevOps and software supply-chain security