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Our philosophy
Market inefficiencies driven by fear and greed create attractive opportunities for the disciplined investor. Our proprietary research process and active risk management has proven itself through many market cycles and transitions.
philosophy
Research, relationships, results
Proprietary Research
- Experienced team of portfolio managers use proprietary research to build high-quality, actively managed portfolios
- Disciplined and repeatable process creates consistent results
- Depth and scope of analysis spans “top-down” and “bottom-up” considerations
Solid Relationships
- Clients first
- Separately managed accounts and mandates
- Continuity of team
Consistent Results
- A 34+ year legacy of client satisfaction
- Proven long-term upside/downside capture
- A history of providing solid risk-adjusted returns
Research Process: Identifying “Best Ideas”
1
Top-Down Thematic Insight
- Sourcing ideas from an experienced investment team
- Identify themes and stocks that are out of favor and/or the headlines
Industry Factors:
- Macro environment
- Consolidation
- Demand growth
- Capacity constraints
- New Regulation
Visualizing impact of fundamental change(s); revisiting what could go wrong.
2
Bottom-Up Thesis Analysis
- Sustainable competitive advantages
- Solid balance sheets (quality); rising earnings; growing market share
- Attractive returns on capital
- Free cash-flow generation
- Growing Revenue, EPS
- Industry-specific factors
- Investment thesis differs from consensus
3
Portfolio Construction
Key Themes:
- Silicon Carbide
- Semiconductors
- Digital Platforms
- Energy
50—70 holdings actively managed
Thematic ideas, security selection, and risk management to drive long-term success.
4
Risk Management
- Mandate compliance
- Actively managed position sizing
- Automatic review of stock thesis with a 15% price decline from cost
- Sell discipline
Translating Research Insights into Alpha
1
Research Prioritization
250 stocks
- Benchmark constituents
- Thematic priorities
- Ongoing monitoring of focus list
- Earnings growth
- Valuation opportunity
- Catalyst recognition
- Growth sustainability
- Earnings surprise
- Industry cycle
- Product cycle
2
Fundamental Research
“Watch List” 100—120 stocks
Independent research conclusions company evaluation:
- Fundamentals/catalysts
- Financial strength
- Management/competitors
Brand/intellectual property proprietary sector-specific analysis:
- 2-year time horizon
- Ample margin for error
- Identify risk factor
3
Portfolio Construction
50—70 stocks
Differentiated insights
Active sector weight positions
Broad sector diversification
Trimming and adding to current positions as equally important to strategy as introducing or eliminating holdings
Risk management:
- Specific rules to manage downside risk (e.g. position and sector limits)
- Margin of safety
- Sell discipline
Insightful Research, Long-Term Success
Proven Investment Process and Results
- - Active management
- - Disciplined portfolio construction
- - Effective risk management demonstrated by upside/downside capture
- - Consistency of returns
- - Transparent process
Let’s talk.
Our leadership team is eager to understand the unique challenges you and the people you serve face to get to work developing a strategy to create lasting impact.
Let’s get started.