By adhering to a “one stock in, one stock out” philosophy, CWW curates a high-conviction portfolio, helping ensure each holding contributes meaningfully to the portfolio’s long-term performance.
CWW’s strategy is deeply informed by the belief that companies capable of navigating through centuries — witnessing economic changes, technological advancements, and global conflicts —offer potential for sustained growth.
A thematic approach to top-down analysis
The strategy, grounded in a thematic approach enables them to identify long-term growth opportunities in international markets. Using a thematic approach rather than macroeconomic trends allow for a more stable investment horizon, with current focuses including the reshoring of manufacturing and the implications of geopolitical shifts. By understanding macroeconomic forces, demographic changes, and technological advancements, CWW positions its portfolio to benefit from the waves of change shaping the global economy.
Knudsen says, “Thematic tailwinds, while not overly complex, represent the foundational shifts driving ongoing change, aligning well with our investment horizon and enhancing our process by encouraging a longer-term perspective. For instance, one significant theme influencing the global landscape is geopolitics, particularly the trend of reshoring.
“This massive shift, driven by companies seeking to diversify their production away from China to various other geographies, is expected to have a lasting impact, potentially spanning decades. We believe this represents a more reliable basis for investment strategy than short-term economic indicators, as it’s likely to shape the market for at least the next decade.”
