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Deep Value Orientation: We capitalize on pricing anomalies created by investors’ irrational response to near-term events.
Our portfolio generally contains 40 – 60 investments. We typically weight individual securities equally at the time of their inclusion into the portfolio with position sizes averaging between 2% and 3%. In no instance will an individual security comprise more that 5% of the portfolio at purchase.
Capitalization Range: $1 billion – $7 billion
Buy Discipline:
- Understandable business model
- Understandable and realistic route to improvement
- Compelling valuation
Portfolio Turnover: 25% – 30% per year
Could we see a Dramatic Snapback?
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| CHARACTERISTICS |
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EAM |
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| Market Capitalization (mm) |
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| Weighted Average |
$1,650 |
| Median |
$1,010 |
| Number of Holdings |
40 |
| P/E (ex. negative earnings) |
11.9x |
| P/B |
0.9x |
| Dividend Yield |
2.6% |
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| SECTOR WEIGHTS |
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As of 06/30/08
Source: BNY Mellon Analytical Solutions and Evercore Asset Management, LLC
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