- Fundamental Research
to uncover truly great companies
- Valuation Discipline
to avoid paying too much for these companies
- A Long-term Investment Approach
to benefit from compounding
How We Construct Portfolios
- Individual client objectives and risk tolerance dictate the asset allocation mix of each portfolio.
- While we adhere to a policy of prudent diversifcation, we believe in concentrating capital in our best ideas, which typically leads to the construction of equity portfolios with 15-30 holdings.
- This approach allows for extensive research and understanding of our investments.
Our Research Process
- We utilize fundamental analysis to identify companies that we believe are undervalued relative to their normalized earnings power.
- Our research driven process focuses on companies with differentiated business models, proven shareholder-oriented management teams, and robust free-cash flow.
- These businesses typically have characteristics such as high returns on capital, organic growth, stable or expanding margins, and a demonstrated ability to consistently increase earnings and cash flow on a per-share basis.
- We view our clients as part-owners of these companies and believe in letting these exceptional businesses create value over time.