We focus on quality companies with strong balance sheets and strong cash flows. We conduct company and industry analyses, seeking companies with the following characteristics:
• Pay an attractive dividend
• Strong track record of and future ability to increase the dividend
• Proven history of predictable cash flows that increase over time
• Attractive protective barriers around the business
We then invest in companies that we believe offer the greatest value on a risk-adjusted basis, considering our estimate of a firm’s valuation, market expectations, and earnings growth prospects. We design our portfolios with 25 to 40 holdings across multiple economic sectors to diversify risk. Portfolio positions will be limited to maximum positions sizes of 7.5%. We review our sector weightings compared to the benchmark, and manage the portfolio with an eye to lower turnover rates to increase tax efficiency.
| Inception Date | August 1, 2017 |
| Assets Under Management (in millions) | $114.30 |
| Investment Style | Value |
| Benchmark | S&P Dividend Select Index |
| Concentrated Equity Income | S&P Dividend Select Index | |
|---|---|---|
| Average Market Capitalization ($ Bil) | $132.3 | - |
| Indicated Yield | 3.3% | - |
| Trailing P/E Ratio | 16.5x | - |
| Forward P/E Ratio | 15.5x | - |
| Price/Book Ratio | 3.1x | - |
| Concentrated Equity Income | |
|---|---|
| Consumer Discretionary | 5.60 |
| Consumer Staples | 10.80 |
| Energy | 15.90 |
| Financials | 4.80 |
| Healthcare | 20.30 |
| Industrials | 9.50 |
| Information Technology | 5.40 |
| Materials | 11.60 |
| Real Estate | 3.60 |
| Utilities | 10.00 |
| Cash & Cash Equivalents | 2.50 |
| ABBVIE INC | 5.2% |
| PHILLIPS 66 | 5.0% |
| MERCK & CO INC | 5.0% |
| DUKE ENERGY | 3.9% |
| PEPSICO | 3.9% |
| MSC INDUSTRIAL DIR | 3.9% |
| CARDINAL HEALTH, INC. | 3.8% |
| ONEOK INC. | 3.6% |
| STAG INDUSTRIAL, INC. | 3.6% |
| COCA-COLA CO | 3.6% |