Seeks above average long-term capital appreciation by investing in a select portfolio of exceptional businesses, purchased at attractive valuations and held for the long-term.

Investment Philosophy and Process

Following a repeatable, systematic process guides our investment decisions:

  • Focus exclusively on exceptional businesses
  • Purchase at an attractive discount to intrinsic business value
  • Pursue an unconstrained approach
  • Concentrate portfolio in the most compelling opportunities
  • Allow intrinsic value to compound over the long-term

Building a Compounding Machine Portfolio

Companies must possess certain elements to be considered a portfolio candidate:

  • Predictable revenues and cash flows in any economic cycle
  • Sustainably high cash flow returns on invested capital
  • Exceptional gross profit yield on total assets
  • Leader or improving in corporate ESG initiatives
  • Clear runway for long-term growth
  • Robust opportunities to reinvest at high rates of return


Approach: Active, bottom-up
Benchmark: MSCI World NR Index
Portfolio inception: February 2021


Fact Sheet


James A. Dunn, Jr.
25+ years industry experience

David Ruffini
5+ years industry experience

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