Research driven
Deep fundamental work to uncover quality and durable value, not consensus narratives or short-term momentum.
Strategy
Precision and discipline in every allocation.
The Wholebrick Partners approach is built for investors who measure success in years, not quarters, with deep research, strict risk parameters, and patient implementation.
Our process is benchmark-aware but not benchmark-bound. Absolute return and capital preservation come first; relative performance against an index is a consequence of discipline, not the objective.
- 40+ yrs
- Disciplined value investing since 1984
- $4.2B
- Assets under advisement
- 25–35
- Core holdings in a typical mandate
- Absolute
- Return orientation, not index replication
Enduring capital is not chased. It is patiently compounded through research, restraint, and an unwavering regard for downside.
Risk aware
Protecting capital is foundational. Liquidity, leverage, and concentration are tested before and after every major decision.
Long-term focus
We think in decades. Patience in entry, sizing, and exit allows compounding to do its work across market cycles.
Process
Our four-stage research framework.
A repeatable, committee-governed process links idea generation to portfolio construction, with explicit checkpoints at each stage.
01 Identification Screening global equities and distressed credit for durable businesses trading below intrinsic value.
Identification
Screening global equities and distressed credit for durable businesses trading below intrinsic value.
Our analysts begin with a wide universe and narrow it through quality screens: balance-sheet strength, recurring cash generation, and franchises that can compound through cycles. We prioritize situations where market sentiment has created a gap between price and underlying business value, not momentum, narrative, or short-term earnings noise.
- Fundamental screens across developed and select emerging markets
- Distressed and special-situations review where catalysts are identifiable
- Initial position sizing reserved until valuation work is complete
02 Valuation Proprietary modeling of intrinsic value, free cash flow, and margins of safety.
Valuation
Proprietary modeling of intrinsic value, free cash flow, and margins of safety.
Every candidate passes through disciplined valuation work. We stress-test assumptions, compare management guidance to historical delivery, and require a meaningful discount to our estimate of private-market value before capital is committed. The goal is not precision for its own sake. It is a repeatable process that keeps us honest about what we are paying for.
- Discounted cash flow and asset-based cross-checks
- Scenario analysis across base, adverse, and recovery cases
- Explicit margin-of-safety threshold before Investment Committee review
03 Risk mitigation Stress testing against macroeconomic, regulatory, and structural industry shocks.
Risk mitigation
Stress testing against macroeconomic, regulatory, and structural industry shocks.
Risk is not an afterthought layered onto a finished portfolio. We evaluate liquidity, leverage, concentration, and correlation before approval, and we revisit those exposures as conditions change. Drawdowns are managed through position limits, cash reserves, and a willingness to act when the price of certainty rises.
- Macro and sector shock scenarios on every core holding
- Liquidity and leverage thresholds enforced at mandate level
- Ongoing monitoring of governance and balance-sheet drift
04 Execution Measured entry and exit scaling with disciplined position sizing across cycles.
Execution
Measured entry and exit scaling with disciplined position sizing across cycles.
Implementation is patient. We scale into conviction over time, avoid forcing liquidity in illiquid markets, and trim or exit when the thesis breaks or price exceeds value. Trading activity is a means to an end, not a source of edge in itself.
- Scaled entry to reduce timing and market-impact risk
- Documented exit criteria tied to valuation and thesis integrity
- Post-trade review fed back into research and committee process
Allocation
Strategic allocation & risk parameters.
Our allocation strategy is agnostic to traditional benchmarks. Sector weights reflect where we find margin of safety and understandable cash flows, not where an index happens to be concentrated today.
Limits below are illustrative guardrails for a typical global value mandate. Individual client portfolios may differ based on mandate, liquidity needs, and regulatory constraints.
Financials & Insurance
Overweight- Minimum
- 15%
- Maximum
- 35%
Healthcare (Value)
Neutral- Minimum
- 10%
- Maximum
- 30%
Industrials & Materials
Overweight- Minimum
- 5%
- Maximum
- 25%
Technology (Cash Flow)
Underweight- Minimum
- 0%
- Maximum
- 15%
Cash & Equivalents
Tactical build- Minimum
- 5%
- Maximum
- 40%
Risk discipline
How we protect permanent capital.
Risk management is embedded in mandate design, research standards, and ongoing oversight, not delegated to a separate function after positions are already live.
Concentration limits
Single-name exposure capped relative to liquidity and conviction tier. New positions scale in; outsized weights require committee approval.
Cash buffer
Tactical cash reserves maintained to fund redemptions, seize dislocations, and avoid forced selling in stressed markets.
Drawdown protocol
Predefined review triggers when portfolio or position-level drawdowns exceed internal thresholds, with documented response options.
Liquidity minimums
Holdings must meet minimum average daily volume and bid–ask standards before inclusion; illiquid names sized accordingly.
Next step
Discuss how our approach fits your mandate.
Institutional partners and private clients receive tailored portfolio commentary, policy documentation, and direct access to our investment team.
FAQ
Strategy & investment process
What is Wholebrick’s core investment philosophy?
We pursue value-driven ownership of durable businesses and credit, emphasizing intrinsic value, downside protection, and patient capital. Position sizing and liquidity are managed through a formal research and risk framework.
How does the four-stage research process work?
Ideas move through identification, valuation, risk assessment, and execution. Only opportunities that clear each stage and Investment Committee review progress to portfolio implementation.
How do you think about sector allocation?
Sector ranges are tactical and reviewed regularly. Overweights and underweights reflect relative value, cyclical risk, and liquidity, not short-term market narratives.
What types of mandates do you manage?
Capabilities span long-horizon equity, credit, and multi-asset solutions tailored for institutions and qualified private clients. Specific products and eligibility vary by jurisdiction and client type.
How is risk managed within the strategy?
Risk is addressed at idea selection, portfolio construction, and ongoing monitoring. That includes concentration, liquidity, credit quality, and scenario stress. Cash may be held tactically when opportunities are scarce.