Our process looks to understand the confluence of internal and external factors that drive long-term business value, from capital allocation to embedded expectations to global impact considerations.

We invest in companies like owners, understanding that true business value can be realized as the time horizon is extended.

With conviction in the long-term fundamentals, we tend to invest in companies during periods when expectations drive price dislocations to improve long-term, risk-adjusted return potential.

Our flexible mandate provides the ability to invest across investment styles, security types, industries, sectors, and market capitalizations to identify the best sources of value.

We are rooted in the understanding that the value of a business is the present value of its future free cash flows, which we attempt to assess and weight under a variety of scenarios.

Our portfolio construction technique yields a highly differentiated, concentrated portfolio, with high active share.