Unconstrained Equity

We believe that:

• A concentrated portfolio of high-conviction Growth and Value stocks should consistently outperform a blended index. 
  
• Well constructed portfolios of 20-25 positions may be less volatile than benchmarks with hundreds of holdings.
• Longitudinal diversification over a full market cycle offers advantages over static, incremental sector bets.

This strategy is:

• Designed to diversify and increase the risk-adjusted return of a core equity portfolio.
• Typically categorized as small or mid cap blend.
• Eclectic, benchmark agnostic, broadly dispersed, often style tilted.
• Intended to outperform broad market benchmarks (S&P 500, Russell 3000) by 200 basis points per year after fees with alpha of at least 300 basis points over most rolling 36-month and 60-month periods.
• Expected to provide very low correlation (R-squared below 0.60) to broad equity indices.

We want to own uniquely attractive Growth and Value stocks.