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US Equity

Our philosophy and process

At SJF, we have consistently applied an intrinsic value equity investment philosophy since our founding. We seek to buy ownership stakes in businesses trading for less than what they are worth and wait for that value to be realized over time.

Under our intrinsic value investment philosophy, we:

Treat every investment as a partial ownership interest in that company

Seek to always invest with a margin of safety

Possess a long-term investment temperament

Recognize that market price and intrinsic value tend to converge over a reasonable period of time

We believe the price that you pay for a business is critical. Great businesses do not in and of themselves make great investments — as Warren Buffett has pointed out, “Price is what you pay; value is what you get.” We only purchase shares when they are available at a sufficient discount to our assessment of the intrinsic value.

Learn more about our philosophy and process

US equity strategies

 
“Intrinsic value focused investing is not the only path to attractive investment returns, but its combination of risk aversion and enduring logic make it a particularly attractive option — one that has stood the test of time and produced some of the industry’s great track records.”

—Austin Hawley, CFA, Portfolio Manager

Strategy team discussion

Investment team highlights

  • We have an experienced centralized research team that supports our equity strategies.
  • Research analysts are industry experts, covering the entire market cap spectrum, which helps provide a thorough understanding of industry dynamics.
  • Our team interacts daily to ensure efficient decision making and to avoid silos of information, and the team meets regularly to discuss the market environment, company events and relevant news.
  • Our experienced equity research team is at the heart of our process, and the ideas our team generates are the foundation for building portfolios designed to outperform the market and peers over the long run.