We seek a purer expression of quality companies. We focus on fundamental research, to identify companies with rare and exceptional characteristics that can compound shareholder value over the long term.
Our research seeks to identify companies that possess some of the following key attributes.
Hard-to-replicate enduring competitive advantages
Dominant market positions in stable growing industries
Low sensitivity to the economic and market cycle
Healthy balance sheets and low capital intensity
Sustainable cash generation and effective capital allocation
These exceptional qualities have enabled companies to deliver sustainably high returns on capital, and compound cash flows over the long term.