Strategies

Opportunistic Value

OPPORTUNISTIC VALUE seeks a long-term, above average absolute return by investing in a diversified portfolio of companies of any market capitalization at a discount to our estimate of intrinsic value. Our primary risk constraint is to minimize the potential for permanent loss of capital. The portfolio employs a diversified, risk-averse style of investment that invests across the entire market capitalization spectrum, typically holding 45-70 equity positions and cash positions of less than 10%, typically averaging 5%.

PORTFOLIO GUIDELINES:

• • Positions limited to 1% minimum and 4% maximum at purchase
• • Maximum position size typically 8%
• • Number of holdings ranges from 45 to 70
• • Cash is less than 10%, averaging 5%
• • Annual Portfolio Turnover 20-40%