Global Equity
Philosophy
Every client’s needs are different, but ultimate goal the same: to achieve the best performance possible. The global equity strategy seeks to find a balance between each client’s investing profile and our views of market trends to achieve that goal.
Process
At Mitchell Capital Management, we do our own research and our portfolio managers are directly involved in the security selection process. We do not outsource to a separate analyst team, the people our clients meet do the research daily. It is because of this that we can more fully connect our clients needs with the products we offer.
Among other aspects, we use each client’s return objectives, risk profile, time horizon, tax situation, legal status, and liquidity condition alongside our market views when proposing a constantly evolving asset allocation framework.
Our market views form the top of the top-down analysis structure and result from a daily monitoring of relevant data, from interest rate forecasts to consumer spending habits.
In addition to meeting a necessary level of diversification, the global strategy captures the maximum amount of value we provide.
We invest in all market cap sizes as this allows us to take advantage of inefficiencies across the full market. Given our high convictions, we typically run a concentrated portfolio that is more heavily weighted to those companies identified as having larger upside.
We complement our intensive use of fundamental analysis by implementing technical analysis to optimize our entry and exit points. Because market conditions are constantly changing and companies will fall in and out of favor, we monitor holdings on a daily basis in effort to preempt any weakness in the portfolio.
Global Equity Strategy: March 31, 2024
Top Ten Domestic Holdings
| Position | Allocation % |
|---|---|
| MICROSOFT CORP. | 4.8 |
| NVIDIA CORP | 3.7 |
| APPLE INC | 3.5 |
| ALPHABET INC-CL C | 3.0 |
| AMAZON.COM INC | 2.6 |
| JPMORGAN CHASE & CO | 2.5 |
| BERKSHIRE HATHAWAY INC-CL B | 2.4 |
| VISTRA CORP | 2.1 |
| OCCIDENTAL PETROLEUM CORP | 1.8 |
| META PLATFORMS INC-CLASS A | 1.8 |
Top Ten International Holdings
| Position | Allocation % |
|---|---|
| TAIWAN SEMICONDUCTOR-SP ADR | 1.5 |
| UBS GROUP AG-REG | 1.3 |
| NOVO-NORDISK A/S-SPONS ADR | 1.1 |
| ICON PLC | 1.0 |
| CRH PLC | 1.0 |
| LVMH MOET HENNESSY-UNSP ADR | 1.0 |
| SCHNEIDER ELECT SE-UNSP ADR | 0.9 |
| LINDE PLC | 0.9 |
| ZURICH INSURANCE GROUP-ADR | 0.9 |
| AIRBUS SE – UNSP ADR | 0.9 |
The information above is intended solely to provide insight into how the manager analyzes securities, and are not a recommendation for any particular security or strategy. There is no assurance securities will remain in the portfolio or that they were or will be profitable. This is a list of top ten holdings based on a percent of the total and is not a full list of securities.
Strategy Characteristics
| Characteristic | Portfolio |
|---|---|
| Forward Price to Earnings (P/E) Ratio | 28.2x |
| Free Cash Flow Yield | 2.5% |
| Net Debt to EBITDA | 0.6x |
| Median Market Cap ($Billion) | 106.9 |
Sector Weightings
| Sector | Portfolio % |
|---|---|
| Information Technology | 22.5 |
| Financials | 13.7 |
| Consumer Discretionary | 12.1 |
| Health Care | 11.7 |
| Industrials | 10.4 |
| Cash | 7.0 |
| Communication Services | 6.5 |
| Consumer Staples | 5.3 |
| Energy | 4.6 |
| Materials | 2.9 |
| Utilities | 2.2 |
| Real Estate | 1.1 |
About Mitchell Capital Management
Mitchell Capital Management (MCM) was founded in 1987 and is an SEC Registered Investment Advisor. The firm manages portfolios and provides investment solutions for an array of investors nationwide, including individuals, foundations, union pension plans, retirement plans, endowments and associations. MCM has always been employee owned and intends to stay that way. Our fiduciary culture means our clients are the first priority in each decision we make.
Disclosure: https://mitchcap1.wpengine.com/disclosure/
