Q1 2023 All Cap Value Commentary
The Snow All Cap Value strategy trailed the benchmark during the quarter, returning -0.75% gross of fees (-0.92% net of fees), while the Russell 3000 Value index returned 0.91%.
Learn MoreOur All Cap Value Strategy provides exposure across the value equity market capitalization spectrum through a fundamental, contrarian, bottom-up investment process. The portfolio consists of 35-40 of our best investment ideas across all market caps.
Aims to provide long-term capital appreciation through a concentrated portfolio of value equity securities across all market capitalizations.
Co-Portfolio Managers Richard Snow and Josh Schachter have an average of 30 years of value equity experience and are supported by a seven-person investment team.
The portfolio consists of stocks across the market capitalization spectrum, as any stock meeting our investment criteria with a market cap greater than $1B may be included.
Investment philosophy is consistent with modern behavioral finance research and aims to take advantage of investor overreactions to negative surprises.
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.
The Snow All Cap Value strategy trailed the benchmark during the quarter, returning -0.75% gross of fees (-0.92% net of fees), while the Russell 3000 Value index returned 0.91%.
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