Public Equity

Building durable portfolios to generate attractive absolute and relative returns over time 

Partnering with you to help preserve and grow your capital over the long term

We are committed to generating attractive risk-adjusted returns over full economic cycles in alignment with your goals. As active managers, we build concentrated portfolios with high active shares and low turnover, and have a long-term ownership mentality.

Our approach is founded on four key insights:

  • Market prices can materially diverge from underlying business value, providing us with significant opportunities.
  • Owning exceptionally high-quality, durable, growing businesses allows for disciplined decision-making in the face of economic challenges.
  • Equity investing is business ownership, in our view, reflecting the compounding of underlying business value over long periods of time.
  • We view risk as the permanent loss of capital and seek to invest in companies with both the fundamentals to manage downside risk, and that offer a margin of safety in terms of valuation.1

  • $16.2 Billion

    Equity AUM
    (as of 06/30/2024)

  • >30 Years

    Average experience of our portfolio management team
    (as of 06/30/2024)

  • 14 Years

    Average tenure of client relationship
    (as of 06/30/2024)

We are guided by a set of core principles consistently and rigorously applied across all equity strategies:

  • Active Management: We take a bottom-up, fundamentally driven, value-oriented approach to equity selection.
  • Durability: We focus on cash-generative businesses that are leading providers of essential products and services, can prosper in varying economic conditions, and are positioned to grow shareholder value over time.
  • High Conviction: We achieve reasonable diversification while ensuring meaningful concentration in our highest-conviction ideas.
  • Long-Term Perspective: We invest in businesses that we expect to be materially stronger and more valuable five years from now.
  • Discipline and Patience: We let our criteria drive our investment process and do not compromise on quality, which we believe enables us to achieve our shared investment and business objectives.

1. Identify the Opportunity Set: Narrow the broad universe to the most qualified companies that meet our demanding set of qualitative and quantitative investment criteria.

 

2. Conduct Deep Fundamental Research: Analyze the competitive advantages, industry structure, management excellence, ESG risks/opportunities, and financial profile of targeted businesses.

 

3. Invest with Patience and Discipline: Wait for purchase opportunities at attractive discounts to our intrinsic value estimates.

How it’s done matters.

  • Our deep fundamental and actionable research is not predicated on making macroeconomic projections.
  • Extensive industry and company due diligence form the foundation of our investment process.
  • We foster independent thinking and innovate every day for the long term.
  • We deliver excellence with humility and act with unwavering integrity.

Equity Portfolio Attributes

We take a bottom-up approach and emphasize building concentrated portfolios of high-quality businesses, so that you and your portfolio are positioned for long-term success. Our equity portfolio attributes include:

  • Durable and resilient businesses
  • High-quality companies in concentrated, highly differentiated portfolios
  • Long-term ownership perspective
  • Benchmark aware
  • Focus on generating attractive absolute and relative returns over full market cycles

Public Equity Strategies

  • U.S. Large Cap Equity | Brown Brothers Harriman | BBH

  • Mid Cap Equity | Brown Brothers Harriman | BBH

  • Concentrated Small Cap Equity | Brown Brothers Harriman | BBH

How to Invest

Our investment strategies can be accessed through separately managed accounts (SMAs), mutual funds, UCITS funds, and private funds. To learn more please contact a member of our institutional relationship management team. 

Visit the BBH Funds website and the BBH Luxembourg Funds website for more information about our public fund offerings.

Equity Portfolio Managers

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1 A margin of safety exists when we believe there is a significant discount to intrinsic value at the time of the purchase. Intrinsic value is an estimate of the present value of the cash that a business can generate over its remaining life. 

This communication is for informational purposes only and does not constitute an offer or a solicitation to buy or sell any particular security or to adopt any specific investment strategy. The information herein has not been based on a consideration of any individual investor’s circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. Any views and opinions are subject to change at any time.

This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.

The Public Equity strategies may assume large positions in a small number of issuers which can increase the potential for greater price fluctuation.

There is no assurance the strategies will achieve their investment objective or that the strategies will work under all market conditions. Each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market.

The value of the portfolios can be affected by changes in interest rates, general market conditions and other political, social and economic developments.

Investment Advisory Products and Services:

NOT FDIC INSURED   NO BANK GUARANTEE    MAY LOSE VALUE

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Important Information for Non-U.S. Residents

You are required to read the following important information, which, in conjunction with the Terms and Conditions, governs your use of this website. Your use of this website and its contents constitute your acceptance of this information and those Terms and Conditions. If you do not agree with this information and the Terms and Conditions, you should immediately cease use of this website. The contents of this website have not been prepared for the benefit of investors outside of the United States. This website is not intended as a solicitation of the purchase or sale of any security or other financial instrument or any investment management services for any investor who resides in a jurisdiction other than the United States1. As a general matter, Brown Brothers Harriman & Co. and its subsidiaries (“BBH”) is not licensed or registered to solicit prospective investors and offer investment advisory services in jurisdictions outside of the United States. The information on this website is not intended to be distributed to, directed at or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Persons in respect of whom such prohibitions apply must not access the website.  Under certain circumstances, BBH may provide services to investors located outside of the United States in accordance with applicable law. The conditions under which such services may be provided will be analyzed on a case-by-case basis by BBH. BBH will only accept investors from such jurisdictions or countries where it has made a determination that such an arrangement or relationship is permissible under the laws of that jurisdiction or country. The existence of this website is not intended to be a substitute for the type of analysis described above and is not intended as a solicitation of or recommendation to any prospective investor, including those located outside of the United States. Certain BBH products or services may not be available in certain jurisdictions. By choosing to access this website from any location other than the United States, you accept full responsibility for compliance with all local laws. The website contains content that has been obtained from sources that BBH believes to be reliable as of the date presented; however, BBH cannot guarantee the accuracy of such content, assure its completeness, or warrant that such information will not be changed. The content contained herein is current as of the date of issuance and is subject to change without notice. The website’s content does not constitute investment advice and should not be used as the basis for any investment decision. There is no guarantee that any investment objectives, expectations, targets described in this website or the  performance or profitability of any investment will be achieved. You understand that investing in securities and other financial instruments involves risks that may affect the value of the securities and may result in losses, including the potential loss of the principal invested, and you assume and are able to bear all such risks.  In no event shall BBH or any other affiliated party be liable for any direct, incidental, special, consequential, indirect, lost profits, loss of business or data, or punitive damages arising out of your use of this website. By clicking accept, you confirm that you accept  to the above Important Information along with Terms and Conditions.

 
1BBH sponsors UCITS Funds registered in Luxembourg, in certain jurisdictions. For information on those funds, please see bbhluxembourgfunds.com



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