- Founded in 2005, track record back to 1996. CIO Steve Lemonides, Founder
- Employee Owned and Operated
- SEC – Registered Investment Advisor
- Roughly $150 mil million under supervision* as of 12/30/2019
- Strategies: SMAs Capital Appreciation, Balanced
Long Biased (Hedge LP Structure)
- New York, NY
- Contact: Steve Zell and Mario Delpozzo (212) 819-1818
Our name means a lot to us. We believe that value investing works because controlling quality assets at a discount to what they are worth earns attractive returns over time. This principle is the core of each investment decision we make.
Every security is a financial instrument that represents some type of claim against assets. It is the work of every value investor to understand what those assets are, what they are worth, and what price they are paying to control them when they buy a security.
We are value investors because we have conviction in the underlying logic of the approach. We have also had the benefit of testing this discipline through some extraordinary – and extraordinarily different – market periods.
Value investing is not always easy and is not always in fashion. It is a straightforward proposition, but it requires both a high level of expertise and steadfast discipline to use it adeptly in all sorts of economic and market climates.
At ValueWorks we have deployed this approach through periods of huge investor enthusiasm and euphoria, through periods of financial crisis and panic, and even through some moments of calm and investor ennui. Through it all, we have stayed with this discipline, and draw the simple conclusion that is in our name.
CAPITAL APPRECIATION STRATEGY
Capital Appreciation accounts offer diversified core equity exposure for long-term investors seeking disciplined value management. Portfolios contain primarily large capitalization U.S. equities, but may also include securities senior in the capital structure and/or smaller capitalization and foreign domiciled equities, to enhance return opportunities and mitigate risk. Typical portfolios have 25-35 individual investments allowing for in depth knowledge of and high conviction in each holding, while avoiding over diversification that may limit performance. We manage risk by limiting individual security and sector exposure.
Balanced accounts offer a complementary mix of holdings spread across the risk/return spectrum for more conservative investors seeking a blend of appreciation and income in a single managed vehicle. In addition to a percentage of the portfolio being dedicated to high quality corporate and government debt, portfolios also contain a high percentage of large capitalization U.S. equities. Investments may also consist of smaller capitalization and foreign domiciled equities to enhance return opportunities and mitigate risk. Typical portfolios have 30-35 individual investments allowing for in-depth knowledge of and high conviction in each holding, while avoiding over diversification that may limit performance. Income is generated by fixed income holdings and also from common and preferred dividends.