Focused Growth Strategy
A concentrated actively managed equity strategy built on a simple but proven investment philosophy: over the long term, stock prices follow earnings growth.
HOLDINGS
18–25
TIME HORIZON
3–5 YRS
POSITION SIZE
2–10%
STRUCTURE
SMA
Our Criteria
The Businesses We Look For
Every position starts as a business, not a ticker. We evaluate each company on its own merits against four durable characteristics.
High Quality
Strong fortress-like balance sheets.
Structural Disruption
Businesses displacing existing and sometimes sluggish incumbent models.
Network Effects
Businesses with network characteristics that are very difficult, if not impossible, to replicate.
Recurring Revenue
Predictable cash flow and recurring revenue streams.
Focused Growth Strategy
How the Strategy Works.
Concentrated Portfolio
18–25 stocks with initial weightings typically ranging from 2% to 10%.
Long-Term Focus
Investments based on projected risk-adjusted returns over a three to five year time frame.
Tax Efficiency
Low turnover serves to reduce tax liability over time.
Composite Performance
Results.
Focused Growth Composite vs.
S&P 500 Total Return Index
Second Quarter 2026
A strong rebound from a weak first quarter. We cover the shift in the AI narrative, what renewed focus on corporate earnings means for our holdings, and where we added and trimmed during the quarter.
