Decision-Making Process

Our bottom-up, utterly disciplined process creates well-diversified portfolios
that are fully invested in value-oriented U.S. equities.

The foundation of our work is a seasoned, suitable, liquid universe of U.S.-listed stocks. We evaluate companies relative to their industry peers using three categories — or pillars — of attractiveness: value, management, and momentum. Overarching this multi-factor valuation is a portfolio construction process that optimizes the tradeoff between expected return and multi-faceted risk. Actual, realized trading costs are used to guide us toward efficient implementation. The integration of research, portfolio management, and trading is the bedrock of our decision-making process.