Lakehouse Capital focuses on competitively advantaged companies that are growing in attractive industries, led by talented and aligned management teams. Such opportunities tend to offer multiple ways for patient, long-term investors to achieve market outperformance. Meanwhile, we seek to limit our downside via a rigorous research process emphasising financial strength and attractive valuations, among other factors.
Few investments offer the compelling long-term outcomes we search for, as a result we hold large allocations to a concentrated portfolio of elite businesses. We view our stakes in businesses as strategic, long-term investments, not trading positions.
We are firm believers in the power of concentration. Both logic and empirical research support the philosophy of concentrating capital in one’s top ideas, and it well suits our long-term, business-focused, low-turnover, tax-considered approach.