TorrayResolute Concentrated Large Growth Strategy

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Our Investment Approach
Our approach is based on the belief that selective investments in diverse growth businesses with superior operating and financial characteristics generate excess returns with below-market risk over time. We believe risk is systematically mispriced and analysis targeting low-risk equities improves the probability of outperformance.

Our "Edge"
Our edge is a repeatable process that has produced a long-term record of consistent excess returns and effective risk management; we believe process is a better "bet" than a claim of information advantage or intuition. This process identifies the systematic mispricing of risk present though full market cycles.

Business Characteristics We Favor
  Durable competitive advantages
  bullet space High returns on, and efficient use of capital
  bullet space Demonstrated low volatility in financial and operating metrics
  bullet space Low exposure to cyclical trends
  bullet space Capital allocation discipline

Risk Management
We manage risk as a key component of our portfolio construction. We target low correlation among individual holdings and the portfolio; sector and position limits as well as loss limits are applied.

Portfolio Construction & Risk Management
We maintain a model to drive our asset allocation. Portfolios are fully invested and are composed of a diversified set of 25-30 large-cap stocks exhibiting the best risk/return outlook.

Sell Discipline
Positions are reduced or sold if:
  Valuations are excessive
  bullet space Sector or position limits are exceeded
  bullet space Business volatility increases
  bullet space Superior investments are identified
  bullet space Original investment thesis fails

 

 

 

 
 
Investment Team Nicholas C. Haffenreffer
Jeffrey D. Lent
James D. Bailey, CFA
John Gallagher, CFA

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Inception 3/31/1998
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Objective Seeks to achieve long-term growth of capital through consistent excess returns and effective risk management.
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Strategy To invest in a portfolio of predominantly large capitalization companies with proven records of increasing earnings on a consistent and sustainable basis.
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Min. Inv. $500,000
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GIPS®
Compliance

Torray LLC is an independent registered investment adviser. To receive a list of composite descriptions of Torray LLC and/or a compliant presentation, please contact Hugh Tawney at 855.753.8174 or email Tawney@Torray.com.

Registration as an investment adviser does not imply a certain level of skill or training.

Torray LLC claims compliance with the Global Investment Performance Standards (GIPS®).

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