Small & Mid Cap Opportunities Strategy


Portfolio Highlights


A small- to mid-cap equity strategy. Investments are made opportunistically, on a risk-adjusted basis. Portfolio construction reflects the Portfolio Manager's views on macroeconomic trends and business cycles.


A valuation-aware process, but names across the spectrum are investigated: value, core, and growth. The resulting portfolio profile maps core. Approximately seventy-five percent of holdings are in the market capitalization of the Russell 2500 Index.


Macroeconomic framework developed and monitored by the Portfolio Managers broadly informs portfolio construction and risk profile.

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3-year audited track record across a variety of market cycles.

Where it Fits in Your Portfolio:

This can be an essential element of an equity allocation. The portfolio seeks to provide diversified equity exposure beyond large cap with reduced risk relative to the small-cap equity universe.

Portfolio Managers: Tom Maher, Alex Oxenham

Investment Vehicles: SMA and selected investment platforms.

“This process is bottom-up in nature...we start with ‘where are the great stock investment ideas we have identified?’”

Craig O'Neill
Chief Executive Officer
Craig ONeill
Investment Process

Investment Process

Idea Generation

  • Valuation screens
  • Manager Insights
  • Trends and Themes

Research and Vetting

  • Thorough investigation of the company
  • Why is it valued as it is?
  • Are there catalysts?
  • Risk/Reward calculation

Portfolio Considerations

  • Diversification and balance
  • Existing holdings
  • Consistency with market view

Ongoing Monitoring

  • Maintenance research
  • Risk/Reward changes
  • Market Considerations


  • Does the stock meet the risk/reward hurdle?
  • What level of conviction do we have in the thesis?
  • Position sizing

In their own words: Small & Mid Cap Opportunities

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The Small & Mid Cap Opportunities strategy is an actively managed small- to mid-cap equity portfolio focused on producing attractive long-term returns with reduced risk.

Individual securities are selected via a disciplined bottom-up process based on deep fundamental analysis and valuation considerations. Catalysts are identified to track each company’s improving prospects, along with their individual risk/reward profile to assess upside and downside potential. 

Diversification and balance versus the Russell 2500 are taken into account, though there are no “must own” stocks, industries, or sectors.

The firm’s six to 18-month outlook on economic trends, regional forecasts, and other macroeconomic signals informs overall portfolio strategy and sector weightings.

“We look to participate in up markets and protect the downside in more challenging periods. The ability to critically assess business models is essential to success over a whole market cycle.” 

Tom Maher
Portfolio Manager, Small & Mid Cap Opportunities
Thomas Maher

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