INVESTMENT STRATEGY

North Value Partners is a value-focused investment firm that manages a concentrated investment portfolio with a strong focus on capital preservation. We are Absolute Return investors who strive to outperform the market over our long-term investment horizon.

Our Classic Value investing strategy has been used by many of the great investors of the last century and is rooted in the following five timeless investment principles:
 

PRESERVE CAPITAL

Our disciplined process and investment strategy of owning high-quality businesses priced at discounts to intrinsic valuing supports our objective of preserving capital.  Additionally, we seek investment opportunities that, from our analysis, provide asymmetric outcomes – attractive returns when we are correct, limited loss of capital if we are wrong.

 
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"The first rule of investment is don’t lose money. And the second rule of investment is don’t forget the first rule. And that’s all the rules there are."
— WARREN BUFFETT

OWN HIGH-QUALITY BUSINESSES

Our portfolio is comprised of high-quality businesses with attractive returns on capital.   High-quality businesses possess unique attributes that enable them to be more durable through economic cycles, maintain competitive advantages for long periods of time, and grow intrinsic value faster over the long-term.  
 

 
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"We’ve really made the money out of high-quality businesses... And most of the other people who’ve made a lot of money have done so in high-quality businesses."
— CHARLIE MUNGER

INVEST WITH A LONG-TERM PERSPECTIVE

We make investment decisions based on long-term business fundamentals and acquire positions we intend to hold for three to five years or longer. 

By focusing on long-term business opportunities, not simply months or quarters, we are able to capture the long-term value creation opportunity of the high-quality businesses we own.  It also allows for greater tax efficiency of our investments.

 
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"The single greatest edge an investor can have is a long-term orientation."
— SETH KLARMAN

APPLY A DISCIPLINED PROCESS TO BUY, MONITOR, AND SELL INVESTMENTS

Our disciplined process insures that we know the businesses we own well, are finding compelling investment opportunities, and work to limit our mistakes. 
  
Our process starts by identifying high-quality businesses.  We then apply in-depth research with rigorous valuation analysis to determine the value of these businesses. Next, we utilize patience and wait to buy high-quality businesses when they are attractively priced related to our appraisal of value.  Finally, we monitor our investments on an ongoing basis and look to allocate capital within our portfolio to the most compelling opportunities.

 
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"Know what you own, and know why you own it."
— PETER LYNCH

Concentrate Capital IN OUR BEST IDEAS

Managing a concentrated portfolio enables us to achieve our dual goals of superior investment returns with reduced risk over the long-term.  Great investment opportunities are rare, and a concentrated portfolio enables us to invest more of our capital in our best ideas, while also forcing us to have greater conviction and knowledge of our investments. 

 
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"The number of securities that should be owned to reduce portfolio risk is not great; as few as ten to fifteen holdings usually suffice."
— SETH KLARMAN