The Most Important Decision

What companies are deserving of our time and attention is the most important decision we make.

We strive to invest in the great companies of tomorrow ― those that will continue to be successful in their efforts to gain, and maintain, a competitive advantage.

Beyond the detailed financial models we create for each investment, we endeavor to understand the companies extremely well ― what drives management, critical success factors, competitive advantages, and the focus on value creation.

Once a company is fully vetted and added to the portfolio, we expect to own the position for a very long time.

Our Investment Process

Searching for the very best companies in North America
  • High-quality management teams
  • Intelligent, understandable businesses
  • Sustainable competitive advantage

Our deep-dive fundamental process uncovers the highest quality companies to invest in:


We look to own the optimal amount of every security.

The weight we hold in a specific security is directly proportional to four key factors:

  1. Market capitalization (liquidity)
  2. Attractiveness (valuation)
  3. Conviction on the business model
  4. Correlation to other investments