“We employ a highly efficient and disciplined process designed to deliver superior long-term investment results.”

– Daren Heitman, CFA, Chief Investment Officer

Idea Generation

Ideas are generated 100% in-house


  • Proprietary database of 200+ companies that have been owned or extensively researched
  • Industries in cyclical downturns
  • Fundamental screens – focus on under-earning companies
  • Management meetings
Fundamental Research

Income Statement Assessment

  • Identify specific change (revenue, margins, earnings)
  • Financial modeling / Establish price target

Balance Sheet Assessment

  • Access to capital > Need for capital
  • Financial staying power

Long Term Qualitative Assessment

  • Competitive position/Business durability
  • Sustainable returns on capital/Business prospects
Buy Discipline
  • Idea meets the Four Cs criteria
  • Appreciation potential > Portfolio average (typically 50-70%)
  • Initial portfolio weight is typically between 4-6%