SGA builds high-conviction portfolios of sustainable growth companies from the bottom up without regard for benchmark composition. Each portfolio invests selectively in fundamentally strong businesses with steady long-term earnings prospects and attractive valuations. Portfolios typically differ materially from stock market indices in their composition, a hallmark of our management style.
| Portfolio | Holdings | Positions | Domiciled Companies |
|---|---|---|---|
| U.S. Large Cap Growth | 25-30 | 2-6% | 80-100% U.S. Domiciled Companies |
| Global Growth | 25-35 | 2-6% | 35-65% Non-U.S. Domiciled Companies |
| International Growth | 25-35 | 2-6% | 90-100% Non-U.S. Domiciled Companies |
| Emerging Markets Growth | 25-35 | 2-6% | Over 50% Emerging Domiciled Companies |
| Global Mid Cap Growth | 25-35 | 2-6% | 35-65% Non-U.S. Domiciled Companies |
| Portfolio | Holdings | Positions |
|---|---|---|
| U.S. Focused Growth | 10-15 | 6-10% |
| Global Focused Growth | 10-20 | 5-10% |
SGA’s Emerging Markets Growth portfolio returned -13.1% (gross) and -13.2% (net) in Q2, compared to -11.4% and -12.0% for the MSCI EM and EM Growth Indices, respectively. Year-to-date the SGA Emerging Markets portfolio has returned -16.2% (gross) and -16.6% (net) compared to -17.6% and -21.1% for the MSCI EM and EM Growth Indices respectively.
The Global Growth portfolio returned -19.2% (gross) and -19.4% (net) in Q2 versus -15.7% for the MSCI ACWI and -20.2% for the MSCI ACWI Growth Index.
SGA’s International Growth portfolio returned -13.8% (gross) and -14.0% (net) in Q2 versus -13.7% for the MSCI ACWI ex USA Index and -15.7% for the MSCI ACWI Growth ex USA Index.
The U.S. Focused portfolio returned -19.7% (gross) and -19.9% (net) in Q2 versus -20.9% for the Russell 1000 Growth Index.
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