This Strategy is closed to new investors

The All Cap Value strategy uses a disciplined, value-oriented investment process to construct a concentrated portfolio of securities representing what we believe to possess attractive risk reward characteristics. Through our independent research, we own investments that we believe are undervalued relative to their tangible assets, sustainable cash flow and potential for improving business performance. Our portfolios seek to own companies, regardless of market capitalization, that offer the best combination of value and potential for price appreciation. Our portfolios may also own preferred stock, fixed income securities or other investments that we feel offer unique opportunities in the marketplace.

Generally holds fewer securities and more concentrated positions than other portfolios Exploits market inefficiencies caused by investor behavior Invests across the market spectrum without regard to benchmark