Managed account · Global · Equity
Global Brands Equity
Investing in cash flow generating global sustainable innovations. High quality companies with dominant market positions, underpinned by powerful intangible assets.
Before anything else
We take stewardship of your capital
Nine commitments govern how this strategy is run: partnership, transparency, bad news first, and no agreement whose incentives are misaligned with yours.
Investment objective
Long-term growth
Objective
Long-term growth of your investment.
The investment team believes that high quality companies with dominant market positions, underpinned by powerful intangible assets, can generate attractive returns over the long term.
Approach
We invest in businesses, not a ticker. The largest potential value sits in cash-flow-generating, innovation-driven businesses making the earth a more sustainable place for future generations.
We also believe in responsible capitalism: capitalism in which stakeholder interests are largely aligned with shareholder interests, and profit maximisation is directly proportional to human value maximisation.
We broadly follow a natural ESG framework and avoid sin stocks.
Saptarshi Das, CFA · Portfolio Manager
Investment approach
Investment philosophy
Global brands focus
We invest with a global remit in companies which have cash flow generating innovative businesses and a significant moat in what they do.
Companies in our portfolio are typically market leaders in their respective niches with a long runway left in their innovation cycle.
Dominant market positions underpinned by powerful intangible assets, whether brands, networks or intellectual property, can compound value over decades.
Strategy synthesis
GreatBear is a long-only investor. Market irrationality about the price of a business may have no upper bound, and we do not like that exposure.
We look at a business with a private equity approach. Buying stock is an opportunity to grow with the fortunes of a company. Our time frame for analysis is never less than five years.
Effort to be broadly correct rather than precisely wrong.
Capital allocation is our main job.
Performance
Track record
Portfolio
Holdings and allocation
Top positions
| # | Company | Weight |
|---|---|---|
| 1 | NVIDIA | 11.08% |
| 2 | Apple | 11.01% |
| 3 | Micron Technology | 9.24% |
| 4 | Berkshire Hathaway B | 9.01% |
| 5 | Alphabet C | 8.95% |
| 6 | Taiwan Semiconductor | 7.20% |
| 7 | Tesla | 7.02% |
| 8 | Eli Lilly | 5.22% |
| 9 | Mastercard | 5.17% |
Sector allocation
| Sector | Weight |
|---|---|
| Technology | 41.10% |
| Semiconductor | 16.44% |
| Financials | 15.09% |
| Diversified | 9.01% |
| Industrials | 7.02% |
| Pharmaceuticals | 5.22% |
| Real Estate | 5.01% |
The portfolio is concentrated and conviction driven, spanning technology, semiconductors, diversified holdings, financials and pharmaceuticals.
Holdings are unified by dominant market positions, powerful intangible assets, strong free cash flow generation, and long innovation runways.
Leadership
Portfolio manager
Saptarshi Das, CFA
Director, GreatBear Capital
GreatBear Capital. Private wealth management for HNI entrepreneurs and family offices. Discretionary fund advisory across India equity and global strategies.
Octopus Investments ($7 Bn AUM), FQS Capital, Visiongain Global, London. Portfolio management of a $75 Mn absolute return fund, overseeing $300–500 Mn allocation to emerging and Asian markets.
Masters in Management, Imperial College London.
Mechanical Engineering, Gujarat University, India.
Terms
Structure and terms
Held in a segregated Interactive Brokers managed account. You always own the underlying holdings directly.
Individual
Institutional
The terms behind the terms
The Stewardship Code
Fees and minimums are the commercial terms. The code is the one that matters: how we behave when a thesis breaks, when news is bad, and when there is nothing worth buying.
Get in touch
Reach out for a meaningful conversation.
Saptarshi Das, CFA · Ahmedabad, India
Stock investments are subject to market risks. Please read the IPS information and other related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing an advisor, or designing a portfolio that suits your needs. The value of investments can go down as well as up, so you could get back less than you invest.