Research & Strategies
Conviction you can trace to a person.
KCM's investment strategies are the output of a research process we own end to end. Every position in a client portfolio can be traced to an analyst here who built the case for it and continues to monitor it.
The process
Discovery. Investigation. Implementation.
Three stages that have governed how this firm invests since 1989.
- 01
Discovery
Ideas begin inside the firm. Analysts screen for businesses with durable economics, follow the industries they know, and draw on company relationships built over decades. We do not buy conviction from a sell-side desk.
- 02
Investigation
The analyst builds the model, reads the filings, tests the balance sheet, and speaks with management, customers, and competitors where possible. The thesis is then argued in front of the wider investment team, where it either survives or it does not.
- 03
Implementation
Portfolio managers translate surviving ideas into positions sized for the mandate at hand — a private client's income needs and an institution's policy statement produce different portfolios from the same research.
Strategies
One research engine, several mandates.
Strategies are available as customized separate accounts. Availability, minimums, and guidelines are discussed directly with the firm.
Growth equity
Businesses with reinvestment runway and identifiable long-term drivers.
Value & dividend equity
Cash-generative businesses purchased at a discount to intrinsic worth.
Small & mid capitalization
Under-followed companies where original research is most rewarded.
International equity
Developed and select emerging markets, researched to the same standard.
Investment grade fixed income
Duration, credit, and liquidity matched to the mandate.
Balanced & customized
Blended mandates built to client-specific guidelines and restrictions.
Strategy descriptions are general in nature and do not constitute a recommendation or an offer of any particular strategy. No performance data is presented on this website.
Research team
The analysts doing the work.
Frank Diebold, CFA
Research Analyst
Michael Grossman, CFA
Investment Research Analyst
Tim Jenkins, CFA
Equity Research Analyst
Tori Johnson, CFA
Equity Research Analyst
Grant LacKamp, CFA, CAIA
Research Analyst
Pat Srinivas
Equity Research Analyst