23 years of investment experience, serves as a Portfolio Manager, Managing Director, and Executive Chairman of the Advisory Research Partner Group. Prior to joining the firm in 2005, Matthew worked in the assurance and business advisory group at PricewaterhouseCoopers LLP. Matthew holds a BS in accounting and business administration from the University of Kansas and an MBA from the Kelley School of Business at Indiana University. Matthew is a Chartered Financial Analyst (CFA®) charterholder and has passed the Uniform CPA Examination.
Matthew Swaim, CFA
- Chairman of Advisory Research, led the management buyout in 2019
- Portfolio Manager, 25 years of investment experience
- CFA Charterholder, MBA from Kelly School, Indiana University
“The market gives the opportunity on a daily basis to be an owner of a business. We want to be owners of businesses that have competitive moats, high return reinvestment opportunities, and management teams with aligned incentives. Incentives drive outcomes.”
Andrew Cupps
- 31 years of investment experience, AB from Harvard University
- Founder and portfolio manager of U.S. Growth Strategies
- Former hedge fund manager at Strong Capital Management
“I adore the process of trying to understand and assess what drives a stock up or down, and after over 30 years of managing growth portfolios, we have built an extensive process focused on the powerful combination of company specific developments and external thematic forces.”
Christopher Harvey, CFA
- 24 years of investment experience, MBA from the University of Chicago
- U.S. Value Portfolio Manager since 2015
- Former Director of Research at Zuckerman Investment Group
“Our focus is on understanding businesses and identifying market inefficiencies. We believe our odds of long-term market outperformance increase as we spend years with company management teams, in their stores and factories, and use short-term market volatility to our advantage.”
Adam Steffanus, CFA
- 25 years of investment experience, MBA from University of Chicago
- Co-Lead Portfolio Manager – ARI Global Select since 2011
- Former head of US Investment Strategy at Credit Suisse
“I have always believed in a ‘go-anywhere’ investment style. Good portfolio managers perform best when they are unconstrained by arbitrary rules on position size, sector, or geographic location.”
Michael Valentinas
- 25 years of investment experience
- Co-Lead Portfolio Manager – ARI Global Select since 2011
- Founding member of HOLT/Volaris Advantage, Credit Suisse’s first actively managed equity buy/write strategy
“Options are underutilized by equity investors. Options can monetize every buy, sell and hold decision, adding to portfolio total return and lowering market correlation.”
Bruce Zessar, JD, CFA
- 21 years of investment experience; J.D. from Stanford University
- U.S. Value Portfolio Manager since 2009
- Former partner at Sidley Austin LLP
“A lot that goes on in the markets is counterintuitive. It’s always prudent to be skeptical of consensus and arrive at your own decision on the facts and circumstances. Just because it’s said in The New York Times or The Wall Street Journal doesn’t make it so. And the best investment opportunities often present themselves when the herd is running scared.”
William Florida, CFA
- 20 years of investment experience; public policy degrees from the University of Chicago and Harvard University.
- U.S. Value equity analyst since 2007. Past private company board member.
- Prior experience in international banking and pharmaceuticals. Fluent in Japanese and German.
“The niche for investing in overlooked small public companies is increasingly pronounced. As trillions of dollars flow to private equity and ETFs, we find frequently that “no one is home” in small cap public equities. I have observed that this is a terrific opportunity for active investors who can engage with management teams as they achieve results.”
