Private Capital Management

While PCM’s stock selection process is built on bottom-up fundamental analysis, our portfolio construction process also incorporates a broader economic perspective. Our all capitalization approach allows us to pursue value wherever it is identified. PCM normally maintains core position weightings of between 2% and 5%, though in certain instances positions may comprise as much as 10% of assets. The 10 largest holdings may frequently exceed 40% of account assets. PCM does not seek to track a broader market index. Rather, we strive to allocate capital thoughtfully, and will frequently concentrate investments in areas where our research and world view identify significant opportunity.