Arrival Capital Management

Luis Hernandez is the sole managing member and portfolio manager. The firm's ADV filings and 13F disclosures list Hernandez as the primary decision-maker, running a concentrated book without a committee structure.

The firm runs a concentrated, long-only US equity strategy focused on large-cap companies with durable competitive advantages and strong free cash flow generation. The portfolio typically holds fewer than 15 positions, with top holdings like Altria Group maintained for well over a decade. The strategy emphasizes management quality and shareholder-friendly capital allocation.

According to public 13F filings, the portfolio is highly concentrated. Altria Group has historically represented a dominant weighting, often exceeding 40 percent of disclosed long holdings. Total holdings typically number between 8 and 15 names, with the top three positions representing a substantial majority of assets.

Arrival is registered with the SEC as an investment advisor and manages outside capital alongside what may include internal capital. Public filings do not specify the exact mix, but the firm operates as a traditional asset manager, not a single-family office.

The firm avoids businesses without durable economic moats, highly cyclical industrials, and capital-intensive companies with low returns on invested capital. Hernandez's public commentary emphasizes a preference for predictable cash flows over growth narratives, making pre-profit technology and speculative biotech absent from the portfolio.

Luis Hernandez founded Arrival Capital Management in 2004. His approach draws on the Graham-and-Doddsville tradition, filtering for businesses with tangible assets, pricing power, and long reinvestment runways, though specific prior institutional affiliations are not publicly detailed.

The firm files a quarterly 13F with the SEC, which discloses its long US-listed equity holdings on a 45-day lag. These filings show the firm's concentrated positions in names like Altria Group, Alphabet, and Berkshire Hathaway, though cash, fixed-income, and non-US positions are not captured in these reports.