We generally invest in a limited number of long equity positions seeking to achieve long-term superior returns over a market cycle while minimizing the risk of permanent loss of capital.
We focus primarily on investing in a limited number of generally undervalued and special situation opportunities. On occasion, we may employ activist investing strategies, which may involve more active participation in the affairs of a portfolio company than that generally assumed by an investor.
Portfolios of our Core Strategy are constructed with the following framework:
- Long-only U.S. listed equities
- Typically 10-15 positions
- Typically 5-12% position sizes
- Max position size typically 12% of portfolio value (at the time an investment is made)
- No sector or market cap restrictions
- Superior long-term absolute return targets
We strongly discourage prospective clients from investing capital that cannot be committed for at least three years and ideally more than five years.