Oak’s All-Cap Core Growth strategy seeks to maximize returns over a full market cycle by investing in the firm’s best ideas, maintaining low turnover and making decisions with a long-term mindset.

The All-Cap Core Growth portfolio is fully invested and typically holds 25-40 stocks.  The portfolio is unconstrained by market capitalization, investing in best ideas of any size.   The All-Cap Core Growth strategy is managed by Mark Oelschlager, CFA; he is assisted by the firm’s Investment Team.

Oak employs a top-down and bottom-up investment approach:

Top-down macroeconomic analysis comprises about 60% of the process, which includes consideration of inflation, wage pressures, leading economic indicators and global short term rates.  Additionally, the team evaluates market sentiment indicators, such as investor surveys, valuation spreads, stock correlations and fund flows.  This top-down analysis is what leads the team to the most attractive sectors.  The team then evaluates the specific sectors, considering relative valuation, stage in the economic cycle and capacity within the sector.  From there, the bottom-up process begins, applying empirically based qualitative and quantitative criteria in order to narrow the investable universe to the buy candidate.  A typical Oak holding is one with attractive valuation, high free cash flow yield, high earnings quality and sustainable competitive advantage.

Investments are made with a long-term orientation, generally involving purchases of securities held for three to five years, which results in relatively low portfolio turnover. Investment style tends to be contrarian, seeking out-of¬-favor situations at attractive prices.

All-Cap Core Growth Strategy
Oak Associates, ltd.
3875 Embassy Parkway - Suite 250, Akron, Ohio 44333
Main Tel: 330-668-1234 Fax: 330-668-2901
Institutional Strategies