We employ a "Value with a Catalyst" research process to support our core investment products. Investments generally comprised of at least three of our seven “alpha generators.”
The US Large Cap Value strategy employs an actively managed, high active share approach, focusing on long-term "buy-and-hold" investments in well-established companies within our “circle of competence”. The strategy employs both quantitative and qualitative screening methodologies coupled with stock selection informed by independent fundamental analysis. The strategy seeks to generate returns by concentrating investments in public businesses with strong cash-flow generation as the discount to our model of a company's "intrinsic value" widens.
All of our concentrated investments exhibit the following tenets:
US Large Cap Value generally invests in securities with a market capitalization greater than $5 billion. There are typically 25 - 40 holdings with portfolio turnover of 25 - 40%. New positions generally begin at 1 - 2% of the portfolio; however, the highest conviction ideas can grow beyond 5%.