To capture the full benefit of stock selection skill, portfolios should be invested for the long-term, on a conviction-weighted basis, in a concentrated set of best idea investments.
We seek advantaged, wealth-creating businesses that benefit from long-term trends, possess the sustainable competitive advantages to exploit those trends and can be purchased at reasonable valuations.
We believe there is simply no better way to achieve long-term capital appreciation.
Key Pillars of our Investment Process
- Diverse perspectives foster understanding advantage
- Reduces risk by minimizing blind spots
Security Selection Drives Returns
- Long-term trend beneficiaries with sustainable competitive advantages
- Disciplined on valuation
- Low-turnover approach with an average holding period of five years
- Inherently tax efficient
Concentrated, Conviction-Weighted Portfolios
- Typically 30 (International), 40 (Global) holdings
- Thoughtful diversification at the security and sector level