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Investment Discipline
J.M. Hartwell Limited Partnership ("Hartwell") applies a fundamental, bottom-up
approach to investing in growth companies. The firm uses a rigorous and
disciplined stock selection process to identify companies with strong business
and financial characteristics. Stocks selected for the portfolio possess strong
fundamental growth characteristics that the portfolio managers believe will
lead them to participate in long-term secular trends. Most portfolios are
concentrated and hold approximately 25 to 30 stocks. Typically, no more than 5%
of the portfolio will be in any one stock and 20% in any one industry at time
of purchase. The firm tends to be fully-invested; cash rarely exceeds 10%.
Portfolio holding periods average three years or longer.
The Firm
Founded in 1961, Hartwell's key clients include large private foundations and
high net worth individuals. The company's distribution channels for delivery of
its products include separate accounts and wrap programs. The management team
is led by William C. Miller IV who, prior to joining Hartwell in 1984, served
as portfolio manager for Eberstadt Asset Management where he managed over $1
billion in private accounts. Adrian Dawes, who was head of U.S. research for
Ivory & Sime PLC, is also a Portfolio Manager and senior member
of the investment team. Jordan Press, who was an officer at LaSalle
Bank N.A. in Chicago is also Portfolio Manager and Head Trader.
Contact Information
515 Madison Avenue
Suite 3100
New York, NY 10022-5495
(212) 308-3355
www.jmhartwell.com/
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