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The Saga Portfolio is a fundamental, long-only, public equity investment strategy. Its goal is to provide returns above the general market over the long-term. Saga takes a long-term horizon when investing, looking for high-quality companies selling below intrinsic value.


Companies are selected based on four main criteria:

1. Do we understand the company and will it be around and thriving in 10+ years?

2. Is the company building a durable competitive advantage?

3. Is management high caliber and aligned with shareholders?

4. Does the current price provide an attractive return if the company is owned for 10+ years?


Good opportunities are difficult to find, so if a company meets all four criteria, the Portfolio will take fairly concentrated positions in its highest conviction ideas, typically holding ~10 companies. 

The best way to learn more about the Saga Portfolio investment strategy is to read past quarterly investor letters.