Small-Mid Cap Growth Equity

Investment Philosophy and Process:

  • Invest in companies with recurring revenue business models, defined as having products and services with <2 year life span
  • Utilize a fundamental, bottom-up approach to identify high quality growing companies with good growth prospects, strong cash flow and good balance sheets
  • Purchase securities at attractive valuations as determined by AMI’s proprietary models
  • Concentrated portfolio of 30-35 names with turnover of approximately 35-45%
  • Target in-line participation in up markets, with significant downside protection
  • Total Strategy Assets: $64 Million*

*As of  September 30, 2017

 

Click on the images below to see larger versions.

 

 

 

 

TOP TEN HOLDINGS

 

1.       Ligand Pharmaceuticals

          (LGND)

 

4.33%

2.       Merit Medical Systems

          (MMSI)

 

4.17%

3.       INC Research

          (INCR)

 

3.85%

4.       ServiceMaster

          (SERV)

 

3.84%

5.       Blackhawk Network

          (HAWK)

 

3.77%

6.       Broadridge Financial

          (BR)

 

3.73%

7.       Aramark

          (ARMK)

 

3.52%

8.       Anika Therapeutics

          (AKRX)

 

3.48%

9.       Avery Dennison

          (AVY)

 

3.46%

 

10.    Broadsoft

          (BSFT)

 

3.41%
As of 9-30-17. Holdings are subject to change.  The securities identified and described above do not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable.  A complete list of all buy and sell recommendations for this strategy within the last 12 months is available upon request.  AMI Asset and/or one or more of its employee may have a position in these securities and may purchase and sell such securities from time to time.

 

 

PORTFOLIO CHARACTERISTICS
  AMI SMID Cap Growth Russell 2500 Growth
P/E 21.6x 27.2x
Price to book value 3.6x 5.5x
EPS LTG Estimate 12.8% 8.9%
Dividend Yield 0.4% 0.8%
Dollar Weighted Market Cap. (Bil) $4.3 $3.2
Median Market Cap. (Bil) $2.9 $1.3
Positions 35 1,436

As of 9-30-17.  Source – AMI, Russell. The above information is based on a representative account and clients accounts may vary.  The portfolio characteristics information is being presented as supplemental information to the AMI Domestic Small-Mid Cap Growth Composite.  *AMI internal estimate.

 

 

 

AMI 3rd Quarter 2017 Small-Mid Cap Growth Factsheet