Public Equity

Building durable portfolios where we seek to deliver excellent returns

About BBH Public Equity

Our mission is to be the best at preserving and growing our clients’ capital over long periods of time. We seek to invest in durable, high-quality, businesses that we believe have strong secular growth opportunities with both an operating and valuation margin of safety for equityClose
Margin of Safety

With respect to equity investments, a margin of safety exists when we believe there is a significant discount to intrinsic value at the time of purchase.

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. Our objective is to generate attractive risk-adjusted results for our clients over full economic cycles.
 
Our approach is grounded in three key insights:
  • Market prices can materially diverge from underlying business value, providing us with significant opportunities.
  • Owning exceptionally high quality, durable, and growing businesses before economic challenges arise allows for disciplined decision making throughout economic cycles.
  • We view equity investing as business ownership, reflecting the compounding of underlying business value over long periods of time.

A business ownership perspective drives our approach to equity investing.



Michael Keller Partner and Portfolio Manager

We are guided by a set of core principles that are applied across all equity strategies: 


  • Active Management: Bottom-up, fundamentally-driven, value-oriented approach to equity selection.

  • Durability: Focus on cash-generative businesses that are leading providers of essential products and services, can prosper in varying economic conditions and are positioned to grow shareholder value over time. 

  • High Conviction: Achieve reasonable diversification while still ensuring meaningful concentration in our highest-conviction ideas.

  • Long-term Perspective: We believe in the benefits of compounding, by investing in businesses that we expect to be materially stronger and more valuable 5 and 10 years from now.

  • Discipline and Patience: Adhere to strict investment criteria awaiting attractive valuation opportunities.

1. Identify the Opportunity Set: Narrow the broad universe to the most qualified companies that meet our demanding set of qualitative and quantitative investment criteria.

 

2. Conduct Deep Fundamental Research: Analyze the competitive advantages, industry structure, management excellence, ESG risks/opportunities, and financial profile of targeted businesses.

 

3. Invest with Patience and Discipline: Wait for purchase opportunities at attractive discounts to our intrinsic value estimates.

  • Our bottom-up investment process is not predicated on making macroeconomic projections.

  • Extensive industry and company due diligence form the foundation of our investment process.

  • We foster independent thinking among our team of analysts and portfolio managers to promote diversity of ideas and perspectives.

  • We promote a culture of humility, collaboration, constant learning, and peer review.

Our Equity Portfolio Attributes include: durable and resilient businesses, concentrated portfolios, long-term ownership perspective, benchmark "agnostic" portfolio construction, and absolute return focus.

Equity Portfolio Attributes

Through our bottom-up approach, we build concentrated portfolios of high-quality businesses that are positioned to generate attractive absolute returns over full economic cycles.

We seek resilient businesses and capable management teams.



Regina Lombardi MD and Portfolio Manager

Public Equity Strategies

How to Invest

Our investment strategies can be accessed through separately managed accounts (SMAs), mutual funds, UCITS funds, and private funds. To learn more please contact a member of our institutional relationship management team

Visit the BBH Funds website and the BBH Luxembourg Funds website for more information about our public fund offerings.

Niamh Bonus

Senior Vice President
New York City, NY | USA

Niamh Bonus is the Equity Investment Specialist at BBH and a Senior Institutional Relationship Manager. In this role, Niamh is responsible for overseeing many of the firm’s institutional equity and…  Learn More

Equity Portfolio Managers

Our Latest Insights

This communication is for informational purposes only and does not constitute an offer or a solicitation to buy or sell any particular security or to adopt any specific investment strategy. The information herein has not been based on a consideration of any individual investor’s circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. Any views and opinions are subject to change at any time.

This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.

The Public Equity strategies may assume large positions in a small number of issuers which can increase the potential for greater price fluctuation.

There is no assurance the strategies will achieve their investment objective or that the strategies will work under all market conditions. Each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market.

The value of the portfolios can be affected by changes in interest rates, general market conditions and other political, social and economic developments.


NOT FDIC INSURED ● NO BANK GUARANTEE ● MAY LOSE VALUE

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1BBH sponsors UCITS Funds registered in Luxembourg, in certain jurisdictions. For information on those funds, please see bbhluxembourgfunds.com


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