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Large Cap. Growth Equity

To view the Product Profile in PDF format, please click here:  Large Cap. Growth. 

Philosophy

Seeks to achieve growth of principal value, by investing in a diversified list of companies of excellent quality, that are growing at superior and sustainable rates, and achieving high returns on equity. Our investments most often will be leading companies in attractive and growing industries, which have the resources in management, technology or finances to fully participate in the growth characteristics of their industries.

Investment Process

The Investment Policy Committee (IPC) is the central-decision making body of the firm. All investment decisions are made using this team of experienced managers. The selection process begins with all listed & OTC securities whose market capitalization is above $1 billion. Analysis is done to select companies who deliver consistent, above average earnings growth. Determining factors include strong financials, industry domination, shareholder-oriented management and positive cash flow generation. Significantly, we do not time markets. We remain fully invested, with portfolio cash of 5% or less.

Sell Discipline

Stocks are sold for four reasons:

Four or more quarters of disappointing financial results, relative to our expectations at time of purchase.

Fundamental deterioration of the security.

Significant over-achievement, especially over a short period of time, this results in the stock becoming greater than 5% of the assets in the portfolio. In cases like this, a reduction rather than an outright sale is completed.

Upon comparative analysis, a new security is judged significantly more attractive while maintaining portfolio diversification.

Structure

Each account is separately managed. Portfolios consist of 35-45 securities, diversified across industry sectors. However, no more than 15% is in any one industry, and no more than 5% in any one security.