By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.
Quantitative screening helps generate ideas, but all names that make it into the portfolio will be chosen only after rigid fundamental analysis
Valuation uses a conservative Discounted Cash Flow model along with other metrics as appropriate (sum of the parts, relative valuation, asset value, etc.)
Portfolio weights are derived by a combination of valuation, risk/reward potential, and business quality
Risk is defined as a permanent loss of capital for investments in the portfolio not volatility
The largest holdings in the portfolio will typically be held for 3-5 years or longer with sales being driven by a thesis change, price appreciation making valuation no longer attractive, or better opportunities to allocate capital elsewhere.
We will also opportunistically trade in the portfolio to take advantage of price dislocations in the market.
Yield Bucket
The typical investments here will include financials, REITs, energy pipelines, telecoms, healthcare, utilities, and staples.
The goal is to optimize the total portfolio yield while buying at attractive valuations.
We will tactically invest in the yield bucket to drive further appreciation beyond just the dividend yield
Total portfolio yield should be ~100bps+ that of the SPX
Quantitative screening helps generate ideas, but all names that make it into the portfolio will be chosen only after rigid fundamental analysis
Valuation uses a conservative Discounted Cash Flow model along with other metrics as appropriate (sum of the parts, relative valuation, asset value, etc.)
Portfolio weights are derived by a combination of valuation, risk/reward potential, and business quality
Risk is defined as a permanent loss of capital for investments in the portfolio not volatility
The largest holdings in the portfolio will typically be held for 3-5 years or longer with sales being driven by a thesis change, price appreciation making valuation no longer attractive, or better opportunities to allocate capital elsewhere.
We will also opportunistically trade in the portfolio to take advantage of price dislocations in the market.
Yield Bucket
The typical investments here will include financials, REITs, energy pipelines, telecoms, healthcare, utilities, and staples.
The goal is to optimize the total portfolio yield while buying at attractive valuations.
We will tactically invest in the yield bucket to drive further appreciation beyond just the dividend yield
Total portfolio yield should be ~100bps+ that of the SPX
