Invest in great businesses.
Follow a disciplined process.

Opportunity deserves conviction. Risk deserves attention. 

Owning successful companies can create meaningful wealth. But even a strong business can become an unattractive investment at the wrong price or face challenges that change its prospects. 

We believe effective equity management requires both a reason to invest and a process for recognizing when that reason deserves another look. 

Our approach brings those responsibilities together: understand the business, evaluate the opportunity, and remain attentive to the risks of ownership. 

Fundamental research informs what we own 

We look for companies with compelling business prospects and the potential to grow in value over time. 

Our research examines how a company makes money, its competitive position, financial strength, management, and opportunities for growth. We assess valuation alongside those prospects to determine whether the investment offers an attractive opportunity. 

The goal is a portfolio of businesses we understand, supported by a clear investment thesis for each holding. 

Technical analysis informs when we act

A company’s fundamentals tell an important part of the story. Price trends and market behavior provide another perspective. 

We use technical analysis to help evaluate entry points, position changes, and emerging risks. Trends, relative strength, and volatility inform our judgment about when to commit more, exercise patience, or reduce exposure. 

This supports a long-term investment approach with the flexibility to respond as evidence changes. 

A focused portfolio with a purpose for every position

FortyOne U.S. Equity typically holds approximately 25–35 stocks, giving our strongest ideas the opportunity to contribute meaningfully to results. 

Position sizes reflect conviction, risk, and how each holding fits within the portfolio. We consider the combined exposures across companies, industries, and investment themes. 

Owning fewer companies makes thoughtful selection and ongoing oversight especially important. Every position must continue to earn its place. 

Your portfolio. Direct ownership. Professional management. 

FortyOne U.S. Equity is offered through a separately managed account, or SMA.
You own the individual securities directly in your account, and FortyOne manages them on your behalf. 

This structure brings several practical benefits of separately managed accounts:

1. See what you own 
You can view your individual holdings and account activity, giving you a clear picture of how your wealth is invested. 

2. Access your wealth without a lockup 
Your account has no lockup period or scheduled redemption windows. The strategy invests in publicly traded securities that can generally be sold on market trading days, giving you flexibility when your cash needs change. Access to proceeds is subject to trade settlement and transfer processing. 

3. Give taxes individual attention 
In taxable accounts, direct ownership allows us to consider your cost basis, unrealized gains and losses, and opportunities for tax-loss harvesting when appropriate. Tax considerations inform implementation alongside the strategy’s investment objectives and risk discipline.
 
4. Account for your circumstances
We can evaluate reasonable investment restrictions, existing holdings, and transition needs when determining how to implement the strategy for you. Any accommodations must remain consistent with our ability to manage the account effectively. 

Your account follows a defined investment strategy, with room to consider circumstances that matter to you. 

Risk management continues after we invest 

We monitor company developments, price behavior, and broader market conditions throughout the life of an investment. 

When a thesis weakens, a trend deteriorates, or portfolio risk becomes less attractive, we evaluate whether to reduce or exit a position. We also remain willing to hold cash when suitable opportunities are limited or conditions warrant caution. 

Our aim is to participate in long-term wealth creation while giving downside risk consistent attention. Equity investing involves losses, and risk management cannot eliminate them.

A dedicated strategy. A place within your broader portfolio.

FortyOne U.S. Equity may serve as your core U.S. stock allocation or complement investments managed elsewhere. 

For clients seeking complete portfolio management, we can combine the strategy with fixed income and complementary international exposures where appropriate. 

We consider your objectives, time horizon, liquidity needs, tax circumstances, and existing investments when evaluating how the strategy fits. 

Know the thinking behind your investments 

You should understand what the strategy is designed to accomplish, how we make decisions, and the risks involved. 

Our team provides clear communication about portfolio positioning and the reasoning behind meaningful changes, helping you maintain perspective through changing markets.