Upslope's core investment approach is a concentrated, long/short equity strategy, focused on mid-cap businesses. Upslope also manages a long-only version of the strategy.
Upslope is a Colorado registered investment adviser and manages client capital through a separately managed account (SMA) format.
Upslope's strategy is "alternative" in a few ways. First, the strategy involves significant short equity exposure. Second, Upslope's long portfolio is far more concentrated than typical long-only equity strategies. And finally, while we admire and agree with much of the traditional value investing approach, our portfolio looks anything but a traditional "value" portfolio.
Upslope's approach to "value" investing is fundamentals-focused, disciplined, and price-sensitive. But, we aim to be pragmatic - rather than academic - in making investment decisions. We are not wedded to "low-multiple" stocks and generally seek businesses with the highest level of long-term durability for the lowest price.
Our approach results in a concentrated portfolio of approximately 10 long and 10-15 short positions (with individual long positions generally being significantly larger than shorts). This concentration is a necessary outcome of a disciplined investment process. For us, it is the only way to construct a differentiated and uncorrelated portfolio.
Conservative assumptions & valuation discipline
Focus on fundamentals; be patient
Optically “cheap” stocks often cheap for a good reason
Invest where other professional investors aren't
Portfolio concentration is a positive result of discipline