The firm was founded in 2017 by three industry veterans: Thomas Cole, CFA (CEO and co-founder), Jay Beidler, CFA (co-founder), and Matthew Swanson, CFA (co-founder), all bringing decades of experience from major firms including Institutional Capital (ICAP), UBS Global Asset Management, and Brinson Partners. The firm is 100% employee-owned with partners significantly invested alongside their clients, ensuring strong alignment of interests. John M. Olsen III serves as Partner and Head of Client Relations, joining as a partner in September 2023 to focus on business development and client relations. The management team has successfully grown the firm to over $2.25 billion in assets under management while maintaining their disciplined investment approach and delivering superior risk-adjusted returns since the strategy's inception in 2019.

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Distillate Capital's investment philosophy centers on three core beliefs that distinguish their approach from traditional strategies. First, fundamentals matter - they analyze corporate fundamentals from a business owner's perspective to preserve capital and minimize downside risk rather than chasing momentum. Second, they employ a differentiated approach using unique valuation and quality measures that avoid accounting distortions plaguing traditional metrics in today's asset-light economy, focusing on cash-flow-based measures rather than book value or traditional earnings. Third, they implement rational design through a simple, intuitive, and disciplined process based on factual analysis rather than speculation. Their strategies specifically target companies with strong free cash flow generation, conservative balance sheets, and attractive normalized valuations while actively avoiding companies with high financial indebtedness and maintaining zero weight in companies with negative free cash flow.

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