Our philosophy and culture directly impact our approach toward managing investment portfolios. In managing a portfolio of publicly traded securities, we believe that you can only take what the market is willing to give you. For this reason, we emphasize a thorough, independent view of the inherent risks and opportunities in the economy and the capital markets.

We believe that building a portfolio by selecting securities that have been thoroughly researched combined with a disciplined portfolio structuring process produces superior risk-adjusted returns. We put an emphasis on doing our own research and valuation for each investment. We build our portfolios from the bottom, at the security level. However, we implement a top-down, thematic view of the marketplace in order to manage risk. We look for opportunities across all the major asset classes and thoughtfully diversify the portfolio.


As an SEC registered investment advisor, we have a fiduciary duty to put the interests of our clients first. Furthermore, we operate at the highest ethical standards as outlined by the CFA Institute. As such, we act as an advocate for our clients and provide educational resources for institutions, advisors and individuals.


To make sense of the economy and capital markets today, we have formulated the following core beliefs:

  • Democracy and Capitalism are forever linked.
  • Our form of Capitalism has evolved over the past decade and will continue to evolve.
  • Capitalism thrives with free markets and reasonable government regulation.
  • Capital Markets are a mechanism to price risk—our job is to identify the relative value inherent in the market.
  • Financial Markets are mostly efficient most of the time.
  • Relative value changes within markets—our asset allocation process should reflect the changes in relative value over time.
  • Asset Allocation of a portfolio should change over time.
  • Asset Allocation begins with Risk Allocation.
  • A stopped clock is right twice a day.
  • We need to be advocates for our clients, our firm and our industry—most of our elected officials in Washington DC do not fully understand capital markets, banks and their link to the economy.
  • Maintain low investment expenses.


Winthrop Capital Management manages both taxable and tax-exempt strategies as well as portfolios customized to meet specific client liabilities or unique circumstances. We build these portfolios from the bottom up, starting at the security level. The portfolios are managed to maximize income and generate strong risk-adjusted returns within the context of our proprietary macroeconomic and interest rate outlook.

We build our portfolios using propriety and independent credit research. We do not rely on the credit rating agencies as these ratings tend to be a lagging indicator of the health of an issuer. We delve deep into the financial statements, sources of payment, and risks to independently determine the strength of a creditor.


Winthrop Capital Management manages quality-focused large and mid-cap equity strategies. As part of our firm-wide investment process, our analysts value every part of the underlying capital structure of the companies in our investment universe. As a result, we have the potential to uncover opportunities in stocks overlooked by other investors.

Our view for equity management is that you need to value and “buy” your portfolio every day. A security is either undervalued or overvalued and we do not believe in “hold” ratings. We believe in independently valuing each equity security in our universe using propriety models and will use these metrics in conjunction with our outlook for the company and its industry to determine when to add to or sell a position.

Winthrop Capital Management