Equity

Select Concentrated Equity Strategy

The strategy aims to deliver alpha respective to the Russell 2000 Index and the S&P 500 Index through lower market correlation and higher active management.

Products offered
  • Separate Account
    • Select Concentrated Equity

Competitive advantages

Bottom-up research intensity

Through bottom-up research and a style-agnostic approach, the team seeks to invest in the highest-quality risk/reward opportunities in the equity market. 

Core approach provides more balanced returns

The team’s core approach seeks to eliminate the need to choose between growth and value and provide more balanced returns relative to style extremes.

Experienced investment team

The team has consistently applied its philosophy and process for over 30 years through multiple market cycles.

Investment approach

The team’s process seeks to exploit market emotion and capture long-term opportunities by purchasing companies at a discount to their PMV.

A proprietary framework helps uncover high-conviction investments.

The team conducts an in-depth PMV analysis of business models and key trends to help exploit market emotion and generate alpha.  

Extensive bottom-up research is a key component in analyzing a company’s PMV.

The team triangulates both quantitative and qualitative metrics in enumerating a PMV, which include competitive positioning, key trends, management quality, and a multitude of valuation types.

Disciplined portfolio construction results in strong risk management.

Risk management is pursued through efficient portfolio construction, adherence to the team’s disciplines, and measurable PMV entry and exit ranges. 

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Composite performance

Average annual returns

Average annual returns

(as of 3/31/2024)
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
2.46
6.74
6.74
21.47
5.98
11.47
8.86
14.79
Composite (Net)
2.40
6.53
6.53
20.41
5.04
10.46
7.83
13.68
Benchmark 1
3.58
5.18
5.18
19.71
-0.10
8.10
7.58
8.13
Benchmark 2
3.22
10.56
10.56
29.88
11.49
15.05
12.96
9.45

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Calendar year

Calendar year

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
18.81
-16.72
26.35
17.69
21.90
-9.80
13.07
18.74
-11.00
11.75
Benchmark
16.93
-20.44
14.82
19.96
25.52
-11.01
14.65
21.31
-4.41
4.89
Benchmark
26.29
-18.11
28.71
18.40
31.49
-4.38
21.83
11.96
1.38
13.69

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Our team
Meet the investment team

On a public stock exchange, a stock typically trades between 50% and 80% of its PMV.

The team’s process is geared toward buying in the lower half of the trading range and selling as it pushes the upper limit.

View Team
Jonathan

Jonathan Fox

Portfolio Manager
Christopher

Christopher Miller

Head of Select Equity
Contact Us

We look forward to helping you with your investment needs

 

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