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The goal is capital appreciation by investing in companies that have sustainable, high returns on invested capital.
The MAI Focused Equity Strategy strives to identify companies that can sustain high returns on invested capital. The focus of our research is the sustainability of those returns over the longer term. To reduce risk and increase long-term returns, the strategy is designed to deploy capital in these investments at discounted entry prices.
The strict investment criteria of the MAI Focused Equity portfolio generally limits the number of potential investments, resulting in a concentrated portfolio of 20-30 investments with multi-year holding periods.
All investments are subject to risk, including the loss of principal. There is no guarantee that the investment strategy presented will achieve its intended result. Past Performance is not indicative of future results.
WHY FOCUSED EQUITY?
- Bottom-up research process focused on high returns on invested capital, purchased at a reasonable price
- Long-term, concentrated focus, with a 3-to-4-year investment horizon and 20-30 holdings
Chris Grisanti, JD, CFA
Chief Equity Strategist & Regional President, Senior Managing DirectorChris is the Chief Equity Strategist and Regional President at MAI. In this role he supervises the proprietary equity portfolios within MAI while also providing an outlook on the equity markets as a whole. In addition, Chris is the lead portfolio manager of the Focused Equity Portfolio, which is a concentrated portfolio of large capitalization U.S. equities. Prior to joining MAI in 2020, he was the owner and founder (in 1999) of Grisanti Capital Management (“GCM”). His analytical background led GCM to focus on concentrated, long-term investments, driven by extensive research. Prior to GCM, Chris practiced corporate law at the New York firm of Simpson Thacher & Bartlett before joining the investment company Spears Benzak Salomon & Farrell (SBSF) in 1994, where he was Director of Research, supervising a team of nine analysts.
Thomas Marra
Portfolio Manager, DirectorTom is a Focused Equity Portfolio Manager at MAI, based out of the New York City office. Prior to joining the firm, Tom was the Director of Research at Grisanti Capital Management (“GCM”), which was acquired by MAI in 2020. Prior to GCM, he served as a Research Associate covering oilfield services and offshore drilling at Clarkson Capital Markets.
Mike Pietzak
Portfolio Manager, Managing DirectorMike is a Regional Client Service Leader at MAI, based out of the New York City office. He joined the firm in 2020 with over 25 years of experience. At MAI, Mike is responsible for client service, reporting and trading in the New York office. Prior to MAI, for 15 years, Mike was the Chief Operating Officer at Grisanti Capital Management (“GCM”), which was acquired by MAI in 2020. Prior to GCM he was a Director at Victory SBSF Capital Management. He also previously worked for Equitable Capital Management, JP Morgan Chase and Reich & Tang. Mike graduated from SUNY College at Old Westbury with a BS in Accounting. He lives on Long Island with his wife and four children.
Erik Huss
Institutional Business Development Officer, Managing DirectorErik is an Institutional Business Development Officer at MAI, joining the firm in 2013. He is responsible for business development and distribution of the firm’s proprietary strategies to institutions. Prior to MAI, Erik was a Product Manager at PNC Investments where he was responsible for the launch of online trading & investing and structured products. Additionally, he was a Staff Sergeant in the Ohio Air National Guard where he worked in the Accounting Liaison Office. Erik earned his Associates in Applied Science from the Community College of the Air Force, his BA in Economics from Denison University and his MBA from Ashland University. He is actively involved in his community, serving on St. Augustine’s Associate Board.