ANTONE ASSET MANAGEMENT

The firm runs a concentrated, fundamental value strategy focused on US public equities. The portfolio typically holds 20 to 30 names, with sector weightings that shift based on where the managers see the widest discount to intrinsic value. Cash positions can rise materially—often above 20 percent—during periods the team views as overvalued.

No. The firm has deliberately avoided pooled-vehicle structures and instead manages separate accounts tailored to individual and institutional clients. This structure allows the strategy to tolerate concentrated positions and variable cash weightings without being constrained by daily liquidity requirements or benchmark tracking error limits.

The firm has not publicly disclosed the identity or background of its key investment decision-makers in readily available regulatory filings or marketing materials. As a small registered investment adviser based in Pleasanton, California, investment management is likely conducted by the firm's principal(s), but no named portfolio manager has been verified through primary sources.

Based on the firm's long-only fundamental value strategy and separate-account structure, the use of leverage or derivatives appears absent or minimal. Public filings and available communications have not indicated any engagement with options, futures, swaps, or margin-lending strategies as part of the core mandate.

Idea generation is proprietary, relying on internal screening and direct management engagement rather than sell-side research or third-party platforms. The firm focuses on identifying durable cash-flow generators trading below their estimate of intrinsic value, and its compact portfolio size permits a high bar for inclusion—many screened candidates are rejected before reaching the portfolio.