Steve Gorelik, CFA, serves as portfolio manager of the Firebird U.S. Value Fund and head of research at Firebird Management. He joined Firebird in 2005 and holds a significant ownership stake (25-50%) in the firm. Gorelik earned his BS from Carnegie Mellon University and holds the CFA charter. He has managed the value-focused investment strategy for over 11 years from 2012 to 2023, making 135 stock purchase decisions with holding periods averaging around two years. His approach emphasizes rigorous thesis validation and long-term holding periods for successful investments.

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The Firebird US Value Fund focuses on purchasing high-quality U.S. equities with strong free cash flow yields and growth prospects. The strategy emphasizes fundamental value analysis from both macro and micro perspectives, analyzing country-level political and economic development, market infrastructure, sector prospects, and company-specific intrinsic value. The approach avoids leverage, derivatives, and short selling, instead relying on market inefficiencies and value opportunities to generate attractive returns. The fund targets companies approaching inflection points that will accelerate growth and expand profit margins, with particular attention to avoiding businesses with shrinking addressable markets.

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