Investment Themes

Thematic investing is
balanced (and better).

Our research team is organized around themes, not industries, sectors, or geographies. Our analysts develop a forward-looking lens into transformational shifts, investment ideas and companies on the leading edge of thematic tailwinds. Some recent themes are:

 

Molecular Biology Will Revolutionize Healthcare

Breakthroughs in genomic science are changing the practice of medicine. Genomic sequencing technology, clinical research, and data analytics are converging to deliver novel treatments and diagnostics that will improve medical outcomes and usher in a new era of healthcare.

 

Intellectual Capital, Data and User Networks Build New and Sustainable Moats

Traditionally hard to measure assets such as access to nonpublic consumer data, intellectual capital (including R&D and proprietary technology) and robust user networks have become increasingly valuable. These properties have led to sustainably high returns for a select group of pioneering companies.

 

Next Generation Automation is Extending Beyond Autos

Automation that was concentrated in automobile production in the developed world is now penetrating other industries such as retail, food service, and even healthcare. This will lead to improved productivity, dramatic shifts in supply chains and growing end markets for technology components and industrial equipment.

 

After a Hundred Year Migration to Suburbia, the U.S. is Urbanizing

Urbanization trends are occurring across the country influenced by demographics, changes in city planning, shifts in the housing market and new business models that leverage population density. Urban living has profound economic implications, changing behavior, spending and consumption patterns.

 

The U.S. Business Cycle Will End Before Others

With unemployment below 4.5% and potential fiscal stimulus, it is likely that the U.S. business cycle will end before cycles in other developed markets run their course. This may well end the five plus year stretch of U.S. outperformance and impact sector leadership in the second half of 2017 and beyond. This is an example of a cyclical trend where we believe its directional strength and impact make it appropriate to complement our secular themes in portfolio construction.