The TCM Partners Strategy

The TCM Partners strategy was born with the reorganization of our company in 2017. It is our most concentrated strategy, investing in a “best ideas” portfolio of high-quality companies that present improving fundamentals and reasonable valuations. Investment decisions reflect our long-term point of view, which enables us to focus on the true drivers of economic growth rather than short term distractions.

We view candidates for investment in much the same way a strategic investor considers an acquisition target, asking: Does this company have the potential to grow for a long time? Does company management have deep ownership and an independent mindset? Would we want to own the entire company and merge it into our enterprise?

The TCM Partners Strategy Characteristics

Concentration

12-20 all-cap companies, our highest conviction ideas

Concentration

High Active Share

The portfolio is consistently ~85% different from the market

High Active Share

Quality Growth Focus

Well managed companies that can compound growth of our clients’ investment capital over time

Quality Growth Focus

Long Term Orientation

Looking beyond the market consensus view toward true contributors to long term shareholder value creation

Long Term Orientation

Tax Efficiency

Managing for attractive after-tax returns

Tax Efficiency

Capacity Constrained

Seeking to ensure agility thus improving opportunity for superior risk-adjusted return

Capacity Constrained

Benchmark Aware

Managed for risk-adjusted returns without regard to tracking error. Mindful of sector and country weightings but focused on best ideas

Benchmark Aware

Risk Managed

Continuous portfolio and company monitoring with proprietary “moat trajectory” analysis

Risk Managed

The TCM Partners Strategy Portfolio
(As of 3/31/2021)

The Partners Strategy portfolio is constructed from the bottom up, based on discovery and analysis conducted with a long-term, fundamentals-based perspective.

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Communications Services
Consumer Discretionary
Consumer Discretionary
Healthcare
Healthcare
Healthcare
Information Technology
Healthcare
Consumer Discretionary
Materials
Information Technology
Information Technology
Information Technology
Information Technology
Information Technology
Materials
Industrials
Communications Services
Communications Services
Financials

Current and future portfolio holdings are subject to change and risk. References to these companies are not a solicitation or a recommendation to buy, hold or sell any securities. The holdings presented are classified using Global Industry Classification Standards (GICS).

The TCM Partners Strategy Document Request

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