||12600 Hill Country Blvd
Austin, TX 78738
512-542-1083 [ P ]
512-542-1084 [ F ]
We are not currently hiring. You may send
us your resume and we
keep it on file,
however, we will not respond to inquiries
If a need arises, we
will contact qualified candidates.
specialize in managing concentrated portfolios of publicly traded
common stocks. Our clients are primarily institutions utilizing the
'endowment model', and we are often one of many investment
managers hired to run a specialized strategy. Our approach is
generally not suitable for individual investors unless they meet our
requirements for minimum account size, and more importantly,
understand our differentiated investment philosophy.
Our research process consists of qualitative and quantitative company-level research.
Our qualitative research focuses on the competitive aspects of the business under consideration and an evaluation of management capability. We prefer companies for our portfolio that are run by talented capital allocators who will maximize returns-on-invested-capital over long
periods of time by leveraging some durable competitive advantage. We attempt to selectively add these types of companies to our portfolio at times when price discounts present themselves in the public markets. Limiting our portfolio to a handful of businesses improves our depth of knowledge of each company and focuses our clients' capital in our very best ideas. By limiting the amount of capital that we accept from investors, we maintain investment flexibility in anticipation of growth of client assets over time.
Inquiries about our firm may be directed to:
Brian T. Bares, CFA or James S. Bradshaw, CFA
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