The TCM Multi-Cap Growth Strategy

The TCM Multi-Cap Growth strategy invests in a concentrated 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 Multi-Cap Growth Strategy Performance

(1) Past performance is not indicative of future results. The actual return and value of an account will fluctuate and at any point in time could be worth more or less than the amount initially invested. Performance is provided as supplemental information and is based on the Multi-Cap Growth Equity Strategy Composite. Performance results reflect all income, gains and losses and the reinvestment of interest and other income. All rates of return are reported “NET” of fees. Additional information regarding the policies for calculating and reporting returns is available upon request.

(2) The S&P 500® is an unmanaged stock market index and is not available for direct investment. The S&P 500® Index represents the stocks of 500 leading U.S. publicly-traded companies from a broad range of industries. The performance of an unmanaged index reflects no deductions for fees, expenses or taxes which would affect performance of actively managed assets. The volatility of the S&P 500® Index may be greater or less than the volatility of the portfolios in the composite. PSN All Cap Core Universe is provided by Informa Investment Solutions, Inc.(PSN) and is not available for direct investment. The holdings presented represent the model portfolio and are classified using Global Industry Classification Standards (GICS).

The TCM Multi-Cap Growth Strategy Characteristics

Concentration

20-25 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

Not Benchmark Driven

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

Not Benchmark Driven

Risk Managed

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

Risk Managed

The TCM Multi-Cap Growth Strategy Portfolio
(As of 9/30/2024)

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

There are no assets in this category.
Information Technology
Financials
Communications Services
Consumer Discretionary
Healthcare
Financials
Healthcare
Consumer Discretionary
Information Technology
Consumer Discretionary
Industrials
Information Technology
Information Technology
Healthcare
Materials
Information Technology
Information Technology
Consumer Discretionary
Information Technology
Information Technology
Information Technology
Communications Services
Information Technology
Materials
Energy
Information Technology
Communications Services
Healthcare
Healthcare

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).