Philosophy

Large cap, high quality.

Beese Fulmer Investment Management follows a quality equity strategy that invests in high-quality businesses with predictable growth, sustainable earnings, and disciplined capital allocation. Investments are held for more than five years with low portfolio turnover.

Track Record

Since

1988

Active Management

Active Share:

64.3%

Long-Term Investors

3-Yr. Avg. Portfolio Turnover

16.26%

Quality Equity

Strategy AUM:

$717.45 MM

Large Cap Investors

Weighted Average Market Cap

$524 B

Generate High Returns Across Market Cycles

For investors who seek superior returns over the long term.

Beese Fulmer systematically identifies quality stocks in long-term structural growth sectors with higher margins, lower volatility, lower sensitivity to economic cycles, and higher barriers to entry. This philosophy prefers large cap companies which are proven innovators with more financial resources, market power, diversification, and stability. These companies offer greater resilience and adaptability, while minimizing exposure to value traps and speculative growth.

A Quality strategy is rational strategy.

Rational doesn’t imply a wait-and-see attitude, but rather a rigorous, attentive approach that’s active and ongoing — an approach that has not changed in 40+ years as an institutional asset management firm.

Pillar 1

Profitability

Above-average profitability and operating returns

Beese Fulmer equates improving gross profit and free cash flow margins to the financial strength of a company. Pricing power and effective cost control typically characterize positive financial momentum for longer periods of time.

Pillar 2

Predictability

Growth visibility, recurring revenue, and mission-critical sales

The Beese Fulmer team chooses companies with durable economic moats, desired product portfolios, and well-established value chains.

Pillar 3

Captial Allocation

Intelligent reinvestment, growing dividends, and disciplined buybacks

It is preferred that a company have an asset-light business model with low reinvestment to sales ratios, such as CAPEX to sales or R&D to sales.

High-quality companies share commonalities.

Create a virtuous cycle of compounding growth and income for investors, by reinvesting into their core businesses or returning them to shareholders as dividends or share buybacks.
Provide consistent performance and superior downside protection over the long term with lower economic sensitivity and volatility.
Benefit from secular trends and long-term growth opportunities, while disrupting and challenging low-quality companies.