Equity

Special U.S. Mid Cap Value Equity Strategy

The strategy aims to deliver long-term capital appreciation by investing primarily in mid-cap companies by using a disciplined, consistent valuation process that evaluates each stock’s upside reward relative to its downside risk.

Competitive advantages

CPA-based investment process

Through disciplined execution of its unique process, the team seeks to consistently outperform benchmarks and peers while maintaining a low-risk profile.

Rigorous bottom-up research

The bottom-up research process focuses on companies with durable competitive advantages, free-cash-flow generation, and balance sheet flexibility.

Disciplined valuation

The team appraises company reward/risk profiles, investing where this ratio is most favorable and not necessarily where upside is the greatest.

Investment approach

CPA-based approach helps find differentiated sources of alpha.

Accounting expertise and processes guide the team’s decision-making.

The team analyzes companies through a CPA lens to identify meaningful appreciation potential and limited loss of capital in its downside scenarios.

A differentiated approach to security selection can enable long-term capital appreciation.

The team uses a rigorous fundamental approach to identify companies with durable competitive advantages, strong free cash flow, and flexible balance sheets.

Portfolio construction allows security selection to drive compelling returns through a cycle.

Weightings are driven by the best reward/risk opportunities with a culture of risk awareness, reducing downside impacts and minimizing unintended style factor exposures. 

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Composite performance

Average annual returns

Average annual returns

(as of 9/30/2026)
5/1/2001
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
-4.69
-3.42
9.58
10.42
13.14
9.10
10.60
11.30
Composite (Net)
-4.74
-3.58
9.00
9.65
12.34
8.30
9.73
10.30
Benchmark
-4.96
-1.98
15.25
16.89
17.50
9.26
9.93
9.76

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Calendar year

Calendar year

2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Composite (Gross)
6.94
12.84
10.35
-3.83
29.73
4.08
36.62
-12.39
12.13
22.69
Composite (Net)
6.19
12.05
9.50
-4.60
28.72
3.24
35.50
-13.14
11.19
21.66
Benchmark
11.05
13.07
12.71
-12.03
28.34
4.96
27.06
-12.29
13.34
20.00

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Our team

Meet the investment team

The team follows a fundamental approach of identifying companies with competitive advantages, sustainable free cash flow, and flexible balance sheets, helping deliver long-term capital appreciation.

View Team
James

James Tringas

Co-Head of Special Global Equity
Bryant

Bryant VanCronkhite

Co-Head of Special Global Equity

Key risks

Market risk: Security markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments with different sectors of the market and different security types reacting differently to such developments.

Equity securities risk: Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic, and political conditions.

Small-cap securities risk: If a strategy invests in the securities of smaller-capitalization companies, these securities tend to be more volatile and less liquid than those of larger companies.

Foreign securities risk: If a strategy invests in the securities of non-U.S. issuers, these investments may be subject to lower liquidity, greater price volatility, and risks related to adverse political, regulatory, market, or economic developments and may be affected by changes in foreign currency exchange rates.

Alternative investment risk: Alternative investment strategies, which may include, but are not limited to, investing in nontraditional investments such as commodities, or following risk premia, managed futures, merger arbitrage, global multi-asset, long-short, market-neutral, systematic, or other tactical investment strategies, may involve complex security types or transactions and extensive short positions and/or focus on narrow segments of the market, which may increase and/or magnify the overall risks and volatility associated with the strategies.

Investors should know that this strategy deployed may be subject to additional investment risks. For important information about the investment manager, please refer to Form ADV Part 2.

Contact us

We look forward to helping you with your investment needs

 

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