Davenport-based publisher Lee Enterprises has been added as a member of the US small-cap Russell 2000 Index, effective as of the U.S. market’s opening today, June 29, as part of the 2026 Russell indexes reconstitution.
In a Monday news release, the company said membership remains in place for half a year and is based on membership in the broad-market Russell 3000 Index.
“Our inclusion in the Russell 2000 Index is a reflection of our team’s hard work, execution, and strong financial performance,” Josh Rinehults, Lee’s vice president and CFO, said in the release. “We expect this milestone to enhance our visibility within the investment community, increase trading liquidity, and broaden our institutional shareholder base as we continue to execute our long-term growth strategy and drive increased value for our shareholders.”
Lee is the parent company of these local newspapers and websites: the Quad City Times, Moline Dispatch/Rock Island Argus and Muscatine Journal. In addition, Lee provides local news and information along with a major subscription and advertising platform across its chain of daily and weekly newspapers and expanding digital products in 114 markets across 25 states.
In February, Lee closed on a $50 million strategic equity purchase by David Hoffman, whose investment included other existing Lee investors. The billionaire, who owns a majority stake in Lee, is the founder of the Hoffmann Family of Companies.
The release said Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2025, about $12.2 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.
Suite of Russell indexes
Fiona Bassett, chief executive officer of FTSE Russell, a London Stock Exchange Group business, comments, said “The Russell indexes have continuously adapted to the evolving dynamic U.S. economy, and it’s crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market. The transition to a semi-annual reconstitution frequency this year will ensure our indexes continue to represent the market and maintain the purpose of the index as a portfolio benchmark.”
For more information on the Russell 2000 Index and the Russell indexes reconstitution, visit the “Russell Reconstitution” section on the FTSE Russell website.
