Stewart Asset Management operates as an investment advisory management team within Ingalls & Snyder LLC, led by Chief Investment Officer Thomas M. Valenzuela and founder Bill Stewart. The team has maintained consistent investment philosophy and personnel through three organizational phases since 1974, starting as W.P. Stewart & Co., then operating as Stewart Asset Management LLC from 2014-2024, before integrating with Ingalls & Snyder in February 2024. The firm focuses on concentrated U.S. equity growth investing with a long-term approach, managing portfolios of approximately 15-20 high-quality companies. The team has received multiple industry recognitions including Forbes' 2024 America's Top RIA Firms and Financial Advisor Magazine's Top RIAs recognition.

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Stewart Asset Management's core philosophy centers on the principle that share prices follow earnings growth. The investment approach is built on four fundamental tenets: the power of compounding with high, steady, recurring growth; deep business understanding through thorough knowledge of portfolio companies; sound valuation methodologies for investment decisions; and a long-term investment approach. The strategy focuses on investing in approximately 15-20 high-quality companies with consistent earnings growth, strong management, and robust financials, targeting large, well-managed companies capable of growing earnings by 12-15% annually over at least five years. The guiding goal is to double clients' money every five years through this concentrated U.S. equity growth approach.

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