How we differ
The investment strategy we follow has been proven to work, not just by us, but by many well-known investors over decades.
We tilt the odds further in our clients’ favour by having:
- Complete focus: We have a single portfolio of stocks.
- No emotion: We are committed to a rigorous, objective and repeatable investment process.
- High conviction: We limit the number of companies that we invest in at any time to 20 to 25.
- Flexibility: Although our strategy is tightly focused, we don’t limit ourselves by geography, industry or company size.
- Predictability: We have a preference for relatively predictable businesses and sectors, avoiding, for example, commodity producers.
- Alignment: Everyone at Longview is invested in the Longview Portfolio alongside our clients, owning the same stocks in the same weightings.
We dislike tax.
We recognize that most of our clients live in an after-tax world. We are stingy about taxes and are dedicated to maximizing their after-tax returns:
- Capital gains: The Longview Portfolio has a relatively low turnover of holdings, to defer capital gains tax and maximize the impact of compounding capital on a before-tax basis.
- Dividends: For taxable clients, we allocate shares thoughtfully between tax-sheltered and taxable accounts, to minimize taxes on dividends.
We take the trust placed in us by our clients very seriously. We are closely connected with them, building strong relationships. That means we take on no more clients than we can service well.
The people at Longview who manage client relationships are also members of our Investment Committee. We ensure that our clients speak directly with the people responsible for making our investment decisions.
We are nothing without our clients. We put them first, in everything we do.