CULTURE

We place the interests of the University above our own. We value integrity, reliability, openness, and candor. We operate as a team. We nurture collaborative working relationships with our colleagues and help each other achieve their best. We are intellectually curious and dedicated to continuous improvement.

PHILOSOPHY

We follow a fundamental value investment philosophy with an emphasis on long-term returns and alignment of interests. We observe that market prices for investment securities sometimes deviate materially from reasonable estimates of their intrinsic value. Because such mispricing often persists and grows for long periods, we recognize that consistently exceeding the return of
investment markets over short-term periods is unlikely. Nonetheless, we are convinced that a fundamental value discipline provides the opportunity for superior long-term returns.

Enabled by the University’s perpetual time horizon, we form lasting partnerships with exceptional fundamental investors.  Just as we value our own integrity, we never compromise on our partners’ integrity, including the fiduciary practice of placing clients’ interests first. Ownership, fees, terms, and asset size are important signals of such fiduciary responsibility.