Eagle Capital Management

Eagle Capital Management

Eagle Capital Management, LLC, founded in 1988 by Ravenel and Beth Curry, is an independent asset management firm headquartered in New York City. The firm focuses on a single strategy, the Eagle Equity Portfolio, which it has managed consistently under the same investment philosophy since its inception.

Key Personnel:

• Ravenel B. Curry III: Founder, Chairman, and Co-Chief Investment Officer (Co-CIO).

• Adrian V. Meli: Co-CIO, leading the investment team alongside Mr. Curry.

• Michael Falcon: Chief Executive Officer, overseeing the firm’s operations and strategic direction.

• Alec J. Henry: Managing Director, contributing to the firm’s investment decisions and management.

Investment Philosophy:

Eagle Capital Management employs a fundamental, bottom-up research approach to identify undervalued companies with unrecognized long-term growth potential. The firm focuses on large-cap equity securities, constructing a concentrated portfolio typically comprising 25 to 35 holdings. This low-turnover strategy reflects a long-term investment horizon, aiming to achieve superior returns through rigorous valuation discipline and original research.

Performance and Success Rate:

As of September 30, 2024, Eagle Capital Management’s portfolio was valued at approximately $26.92 billion, encompassing 48 holdings. The top five positions included Amazon.com Inc. (8.93% of the portfolio), Meta Platforms Inc. (6.59%), ConocoPhillips (5.95%), Microsoft Corp. (5.30%), and Aon PLC (5.12%).

The firm maintains a low turnover rate of 3%, underscoring its commitment to long-term investments.

Morningstar rates Eagle Capital Management’s investment culture as Above Average, highlighting its strong investment culture and minimal portfolio management turnover. However, the firm’s open-end and exchange-traded funds have an average overall Morningstar Rating of 2.3 stars, indicating room for improvement in risk-adjusted performance compared to competitors.

In summary, Eagle Capital Management is a well-established asset management firm with a disciplined, long-term investment approach. Led by experienced professionals, the firm focuses on identifying undervalued large-cap companies to construct a concentrated equity portfolio. While its investment culture is commendable, performance metrics suggest potential areas for enhancement.