Objective
Aims to provide long-term capital appreciation through a concentrated, high-conviction portfolio of small and mid-sized capitalization value equity securities.
Why This Strategy?
People
Co-Portfolio Managers Josh Schachter and Philip Greenblatt have extensive experience in value investing.
Portfolio
The conviction-weighted portfolio consists of 50 to 70 small and mid-cap stocks. 40 to 60 names range in market cap from $100m to $3b, while the remaining 7 to 10 stocks are mid cap, which can be up to $3b at purchase.
Philosophy
Investment philosophy that is consistent with modern behavioral finance research and aims to take advantage of investor overreactions to negative surprises.
Process
Fundamental research process focuses on identifying out-of-favor stocks that are in sound financial condition and should experience an upward rerating in their P/E ratio with a positive shift in investor sentiment.
