Overview
Assets
$697.2 million
As of December 31, 2023
Inception Date
April 1, 2005
Holdings
20-25
Turnover
Typically 25-40%
Body
Philosophy
The Core Equity Strategy (“the Strategy”) seeks quality growth companies trading at attractive valuation levels. The Strategy invests in companies of all sizes with a special focus on companies that we believe to have sustainable, long-term competitive advantages.
Process
Utilizing a bottom-up, fundamental approach, we search for quality growth companies trading at attractive valuation levels. We believe the Strategy’s process is distinguished by three key attributes:
High Quality
- Strong and sustainable business models
- Competitive advantages, barriers to entry and unique differentiation
- Strong returns on invested capital and high levels of free cash generation
Growth
- Emphasis on secular growth opportunities vs. cyclical
- Focus on organic growth
- Management teams with history of prudent capital allocation and an ability to adapt
Concentrated Portfolio
- Reflects our deep conviction in holdings
- Controls risk through diversification and appropriate position sizing
- Enables us to conduct rigorous, fundamental research on every holding
Commentary