SMA Inception Date: 1/1/1991
Objective: Seeks long-term capital appreciation through concentrated equity exposure

Why Choose This SMA?

  • For a more focused approach to US equity exposure.
  • As an actively managed, value-oriented, concentrated US equity holding.

Investment Strategy

  • Strict, value-oriented approach that seeks out substantially underpriced companies with strong business fundamentals and proven shareholder-oriented management teams.
  • Bottom-up selection process leads to approximately 20 portfolio holdings with market capitalizations of $1 billion or more at time of purchase.
  • There are no specific sector targets, as allocations are determined entirely through the stock selection process.
  • However, exposure to a single industry typically does not exceed 25%.
  • Position sizes are generally restricted to 10% at the time of initial purchase.

Portfolio Manager


Tony Coniaris, CFA®

Partner, Co-Chairman and Portfolio Manager