Your investment gains endurance when it is built on fundamentals that will outlast the market cycles. We look for the companies that are leading their markets with the solid building blocks we believe give your investment an enduring advantage.

our investment philosophy

We believe earnings power determines the value of a franchise.

We focus on companies that are building their earnings power and intrinsic value over long periods of time. We invest in high-quality growth companies that demonstrate the ability to sustain strong secular earnings growth, regardless of overall economic conditions. Our investment strategy bridges human insight with data analysis to identify whether a company demonstrates the building blocks of our philosophy—and to anticipate whether those building blocks will endure for sustainable high returns on invested capital.

  • sound culture & Management
  • strong unit growth
  • differentiated market position
  • internally financed
  • conservative accounting

our process

We subject every company to continual review. Every company in our portfolio is there because it meets our investment criteria and demonstrates an enduring advantage.


With personal relationships with hundreds of companies, we continually look for companies that stand out in their market. Whether through trade shows, conversation with industry leaders and competitors, or research into the products we see and use every day, we are always listening and searching for companies that meet our criteria.


When we have identified a company we think has potential, our next step is to examine the fundamentals. We take a careful look at the data—unit growth, market position, financials, and accounting practices. Then we get on a plane and meet the management face-to-face, listen to employees, peers, customers, and competitors, and experience the culture for ourselves. Only after thorough due diligence do we add a new company to the portfolio.

Continual Review

We don’t stop testing for endurance once a company has been added to our portfolio. We thoroughly review every company before we increase its position in the portfolio—and we continue to review its fundamental building blocks to ensure they remain sound over time.

See the enduring advantage of our portfolios.