Objective
Aims to provide long-term capital appreciation through a concentrated, high-conviction portfolio of small capitalization value equity securities.
Why This Strategy?
People
Co-Portfolio Managers Josh Schachter and Philip Greenblatt have an average of 18 years of value investing experience and are supported by a five-person investment team.
Portfolio
The conviction-weighted portfolio consists of 40 to 60 of our best small-cap value investment ideas. With a market cap profile similar to the index, the portfolio is diversified by sector and provides high active share.
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.
