SPYGLASS CAPITAL MANAGEMENT, LLC

Thesis

The firm focuses on a concentrated, long-only portfolio of rapidly growing, small-to-mid-sized companies, identifying as an active ESG investor and a signatory to the Principles for Responsible Investing (PRI). Their investment philosophy, "Value Investors in Growth Companies," targets businesses in secular growth industries driven by megatrends like AI, genomics, cloud computing, digitization, robotics, automation, and the transition to electric and autonomous transportation. The strategy involves a concentrated portfolio of approximately 25 high-conviction stocks, with strict limits on single company (7%) and sub-industry (25%) exposure. Key drivers of alpha include original fundamental research, valuation discipline, and portfolio concentration. They prioritize companies with recurring revenues capable of self-funding operations. The firm manages the Spyglass Growth Strategy, benchmarked against the Bloomberg Midcap Growth Index, and provides portfolio management across various account types. As of June 30, 2026, AUM was approximately $1.9 billion, with recent ADV filings indicating around $2.02 billion.

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