OUR MISSION
To outperform a portfolio of stocks, bonds, and money markets over time and through cycles.
$1.4B
Assets Under Management
10 Years +
Average
Client Tenure
$1B +
Value Created
for Our Investors
Based on internal estimates for the convertible strategy; data is as of Sept 30, 2025, unaudited and AUM is rounded to the nearest $100 million. Client tenure reflects the top 20 outside investors in the strategy, with related accounts grouped by advisor or parent entity.
Specializing in convertible bond investing, we seek to construct portfolios with favorable, asymmetric risk/reward profiles. Employing fundamental research and our specialized knowledge of this niche investment sector, we identify undervalued securities with a studied eye towards compelling optionality and credit characteristics.
We favor simplicity over complexity in portfolio design, maintaining conservative portfolio parameters. In security selection, we prioritize companies with strong balance sheets and cash flow. Our approach has enabled us to deliver consistent results through changing market conditions, all while maintaining focus on mitigating downside risk.
Based in the Pacific Northwest, we have a distinct culture that values independence of thought and approach. Our commitment to disciplined, strategic investing, enduring client relationships, and alignment of incentives—by investing alongside our partners—defines who we are and how we operate.
Capital preservation in difficult markets has been key to our convertible bond strategy’s success. We have a demonstrated track record of generating superior risk-adjusted returns relative to traditional markets and protecting capital through equity and bond market drawdowns.
Past results are not necessarily indicative of future results.
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