Vision Capital’s large cap equity strategy is approximately a 35-40 position approach to growth investing. We seek to own companies with innovative and disruptive business models with the potential to produce long-term above-average returns on invested capital. While we believe the growth phase of the corporate life cycle offers the highest probability of new present value creation, we’re disciplined in investing where valuations are credible and underappreciated.
Our research process begins with a proprietary quantitative screen that defines companies relative to each other across the entire universe of U.S. stocks. Companies with above-average merits are assessed for fundamental sustainability and valued on an individual basis. Overall portfolio construction takes into account our desire (or lack thereof) to be over or underexposed to certain economic sectors and industries, as well as the strategy’s relative posture to other types of equity market factors. We actively manage positions in anticipation of future events and when opportunities to take profit or invest additional capital emerge.
