LARGE CAP VALUE

The Large Cap Value Portfolio is an all-equity portfolio seeking long-term capital appreciation by investing in quality businesses at discounted prices. Primarly focused on companies with market capitalizations greater than $10 billion, equities are selected with a systematic investment discipline based on attractive valuations relative to intrinsic business value.

Typically, the Large Cap Value Portfolio will include 25 companies with market capitalization greater than $10 billion. We search the universe of stocks within this sector and evaluate them on the following:

  • Valuation advantages;
  • Superior profit growth;
  • Great economic model; and
  • Strategic fit for the portfolio.

Portfolio managers: Charlie Mahar and David Neal

The Investment Process:

  1. Valuation: Discounted valuations have demonstrated superior long term results.
  2. Profitability: Return on Equity and Free Cash Flow margins provide for intrinsic value.
  3. Strategic Analysis: A sustainable, competitive advantage provides on-going opportunities for growth.
  4. Qualitative Judgement: Quality of management coupled with industry bias can also provide growth opportunities.
  5. Portfolio Management: Regular monitoring of each portfolio position as to expectations, catalysts, and results.