$40.6 million

As of June 30, 2021

Inception Date

January 1, 2010




Typically 50-150%

Latest Commentary

Fact Sheet



The Special Situations Strategy (“the Strategy”) is designed to capitalize on stock market inefficiencies. We define “special situations” as opportunities that have uncommonly favorable risk/reward characteristics, including spinoffs, turnarounds, deep value, reorganizations, transformative acquisitions, overreactions, underfollowed securities, event-driven circumstances, and capital structure changes. These situations can arise for a variety of reasons and can create confusion about the true value of a particular stock.


Utilizing a bottom-up, fundamental approach, we search for catalyst or event-driven investments trading at attractive valuation levels. We believe the Strategy’s process is distinguished by three key attributes:

Opportunistic Approach

  • Seek to exploit pockets of inefficiency that generally occur when limited information is available
  • Seek catalyst- and/or event-driven anomalies
  • Utilize variable time horizons
  • Hold cash when opportunities are not abundant

Strong Contrarian View

  • Out-of-favor and/or misunderstood stories where our fundamental research gives us confidence to invest
  • Undervalued companies with significant upside potential that is mispriced by the market
  • Often underfollowed companies given their idiosyncratic profiles

Concentrated Portfolio

  • Reflects our deep conviction in holdings
  • Ensures our clients’ assets are focused in our best ideas
  • Enables us to conduct rigorous, fundamental research on every holding