Our flagship FAM Program is a discretionary investment management strategy in which we actively manage assets on your behalf. Each portfolio is uniquely designed and continuously overseen to support your core investment needs and long‑term objectives. Our focus is on long‑term investing, not short‑term trading, allowing portfolios to compound over time.
We invest directly in the equity and debt of corporations, municipalities, and governments with which we have developed deep familiarity and conviction. We generally avoid pooled vehicles such as mutual funds and complex structured products, employing exchange‑traded funds only when they represent the most efficient way to gain exposure to a specific theme or asset class.
This direct‑ownership approach eliminates layers of embedded fees and enhances transparency. Because we understand each holding at a granular level, we can clearly articulate the rationale behind every investment in a client’s portfolio. Owning individual securities also provides greater flexibility to implement tax‑efficient strategies such as gifting, tax‑loss harvesting, and thoughtful position management.
Our portfolios are intentionally concentrated. Approximately 95% of equity assets are invested across a core group of roughly thirty companies, a level of diversification we believe effectively manages risk without introducing the inefficiencies of over‑diversification. We conduct independent research and due diligence, supported by Oppenheimer’s research platform and its deep capabilities, and draw on both fundamental and technical analysis. We frequently engage directly with company management teams through meetings, site visits, and ongoing dialogue.
Our investment process follows a top‑down framework. By assessing global economic conditions, demographic trends, and geopolitical developments, we identify long‑term secular themes that guide allocation decisions across asset classes, industries, and individual securities. This approach reflects a long‑term mindset and emphasizes patience, low portfolio turnover, and tax efficiency.
Portfolios are constructed with resilience in mind and are designed to withstand periods of market stress such as the technology bubble, the global financial crisis, and the COVID‑19 pandemic. Our approach to diversification incorporates thoughtful “shock absorbers” intended to help mitigate volatility, while maintaining exposure to long‑term growth. We believe a well‑balanced portfolio requires careful attention to industry exposure, geographic diversification, company size and maturity, management quality, and overall risk.