Institutional Strategies

Large Cap Growth

Strategy focuses on large capitalization U.S. growth-oriented companies believed to have dominant market positions and established competitive advantages. Through a primarily bottom up investment process, the portfolio manager adheres to a disciplined three step process to build a focused portfolio of only the securities with the highest conviction.

Investment Philosophy

Generic growth stock investing is inherently challenging

  • Failure rate of growth companies is very high
  • Risk is often underestimated
  • Most growth investors overpay for short-term earnings growth and underpay for enduring, structural earnings power

Significant, long-term excess returns can potentially be achieved by

  • Focusing on a smaller subset of unique business franchises, which the team feels can potentially increase the odds of success
  • Having a mindset geared to methodically avoiding common mistakes by emphasizing franchise power and earnings sustainability over earnings growth rates


Investment Process
Investment Process

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Key Features

Composite Performance History Since 1/1/1995
Benchmark Russell 1000 Growth Index
Security Concentration The portfolio typically holds 40–60 positions with concentration in the top 15 holdings of approximately 50%
Turnover range Typically 30–70%
Tracking Error Residual of the portfolio's investment approach – not actively managed, but has historically ranged from 400–700 basis points
Sector Ranges Limited to 2x the major sectors weight in the benchmark
Position Size Maximum position size is 5%, or 2% over the index weight, if greater.
Cash Allocation Typically below 5%
Investment Vehicles Institutional Separate Account
Collective Investment Trust
Variable Insurance Portfolio
U.S. Mutual Fund: Institutional Share Class
SMA Model Delivery