Investment Process

Kennondale has a focused approach and manages exclusively value equity portfolios. The portfolios exhibit low turnover, high concentration, and high active share.

We apply a unique, repeatable, long-term investment process in selecting and owning businesses. Central to our process is a valuation discipline that seeks to identify companies where we see a compelling and realistic path to success over the next five years and beyond. This comprises our investment thesis, which impacts our valuation. From this, we hold portfolios where our estimates of the intrinsic values of our holdings differ materially from the market capitalizations of those businesses. We rely on our intrinsic value calculations being better, on a dollar-weighted basis, than the market’s perception of the value of those businesses.

Past performance does not guarantee future returns. An investor’s principal, when redeemed, may be worth more or less than the original investment. This website should not be construed as an offer or solicitation of an offer to buy or sell securities.