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The Columbia Seligman Value Team believes that short-term market inefficiencies can create long-term investment opportunities. The Team seeks to invest in a concentrated portfolio of companies with improving fundamentals that they believe are undervalued. The belief is that, over time, the stock market rewards these types of companies.

Investment Approach

Bottom-up, fundamental investment process. Screens over 1,500 companies, focusing on financial analysis, management, valuation assessment, new products/product enhancements, and peer market analysis. Risk analysis focuses on market risk, company risk, and portfolio risk. Three criteria guide the sell process: changes in company fundamentals that alter the original investment thesis; full valuation; and ongoing research that reveals a better investment opportunity.

Distinguishing Features

Investment experience
  • Original team members have been together since 1992. Neil Eigen, the leader of the Value Team, has more than 40 years of investment industry experience.
Consistent application of our value philosophy
  • Our investment process is well-defined. We do not deviate from it.
Concentrated portfolio
  • The concentrated portfolio of 30- 40 names helps the team gain a comprehensive understanding of changes and activity occurring at companies and within industries

Investment Process

Fundamental research is key to our investment process
  • Qualitative analysis includes the early identification of catalysts that can accelerate the rate of earnings growth. This is the cornerstone of our process as the team believes accelerating earnings growth is an underpinning of exceptional stock price performance.
Opportunities for earnings acceleration
  • Drivers of earnings acceleration can include management changes, restructurings, business cycle changes and market activity
Portfolio construction goal
  • The Team's goal is to generate competitive returns over a three- to five-year time horizon while maintaining low turnover