Capital Management

UAS was founded on the premise that although investment advice is ubiquitous, investors would embrace a human-scale firm that placed the highest priority on excellence in performance and service.

We strive for superior performance by adhering to our core investment principles through up- and down-market cycles. UAS has consistently pursued high quality investments, favoring companies that are likely to increase their intrinsic value over time.

To ensure that we provide uncommon service, we do not engage in competing lines of business that would place the interests of the firm at odds with those of clients. Our service is personal, and we work as a team to build close relationships.

Members of the firm have considerable business operating and management consulting experience. As a result of continuing direct exposure to a variety of businesses, we are able to complement general research and analysis of publicly traded companies with practical insights.

Our primary service is managing concentrated equity portfolios. We invest predominantly in large capitalization equities based in the U.S., and our portfolios average 15 to 20 stocks. We seek stocks having strong fundamentals that are undervalued in relation to our assessment of their intrinsic value. Our evaluation is based on future earnings and cash flow potential, balance sheet analysis, strength of management and industry position. In addition, we supplement these analyses with our evaluation of relevant political, economic and regulatory considerations. Investments are generally long-term and portfolio turnover is relatively low.