The Multi-Cap Core strategy is managed by Rob MacDonald, CFA, and Connor Browne, CFA, who collectively bring extensive institutional investment experience having previously managed over $35 billion in assets. Rob MacDonald brings experience from Thornburg Investment Management and Putnam Investments, holding an MBA from The University of Chicago Booth School of Business and a BA in Economics and Computer Science from Amherst College. Connor Browne serves as Founder & CEO of City Different Investments. The management team demonstrates expertise in fundamental analysis and long-term value investing, with a track record of detailed investment research and commentary. Their approach emphasizes conviction-based investing with willingness to take concentrated positions in situations where fundamental analysis supports significant upside potential. The team maintains transparency through detailed quarterly letters and direct client communication, embodying their partnership-oriented philosophy. Since the strategy's inception on June 1, 2021, the managers have demonstrated their commitment to long-term investing while navigating various market conditions.

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City Different Investments emphasizes a long-term investment approach focused on generating strong risk-adjusted returns through a concentrated portfolio of stocks invested across the business life cycle. The firm operates under four core principles: treating clients as partners with direct access to portfolio managers, maintaining a culture of respect and collaboration, embracing freedom and responsibility, and committing to long-term value creation. The Multi-Cap Core strategy takes a longer view, enabled by strong client partnerships, focusing on long-term business fundamentals rather than short-term market noise. Portfolios typically hold 20-35 positions with no single position exceeding 10% at purchase, balanced across emerging, established, and mature businesses to minimize factor bets while maintaining diversification. The approach allows for international exposure up to 25% of assets and emphasizes fundamental analysis over short-term trading opportunities.

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