Investment Approach

• Focus on achieving long-term capital appreciation while seeking lower volatility than broad equity markets through a flexible, multi-asset approach centered on US equities.
• Invest primarily in common stocks of established US companies with strong fundamentals, durable business models, and attractive valuations, complemented by allocations to high quality high yield bonds, leveraged loans, U.S. Treasuries, and cash.
• Value is primarily added through bottom-up security selection and dynamic asset allocation.
• Our process combines deep fundamental analysis and quantitative tools to identify and exploit durable market inefficiencies over time.
• The mandate is confidently contrarian, with an emphasis on identifying high quality securities with the potential for strong risk-adjusted returns over the intermediate- to long-term.
• Our portfolio maintains a long-term investment orientation, and our holdings are driven by a multi-year approach.
• Risk management is integrated throughout the process, with ongoing monitoring of exposure limits, position sizes, liquidity, credit quality, and overall portfolio volatility.
• ESG factors are evaluated as part of fundamental research where material, helping identify risks and ensure compensation for taking them, however ESG does not drive investment decisions.