# Bourne Lent Asset Management

Bourne Lent Asset Management is an Asset Manager based in United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** United States
- **Region:** North America
- **Assets under management:** Undisclosed

## Regulatory record

- **CRD number:** 111114
- **SEC file number:** 801-57773
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/111114

## About

BOURNE LENT ASSET MANAGEMENT, INC. is an SEC-registered investment adviser in PAWLING, NY, registered since 2000. The firm manages $344 million in assets, $342 million on a discretionary basis. It employs 4 staff and 3 investment advisers.

## Sectors

- Value Equities
- Small/Mid Cap

## Questions

### What is the investment philosophy at Bourne Lent?

The firm applies a classic value-oriented framework grounded in the principles of Graham and Dodd. This means bottom-up fundamental analysis to identify companies trading at a discount to intrinsic value, with particular attention to balance-sheet strength, competitive positioning, and management quality. The strategy does not pursue momentum, growth-at-any-price, or macro-driven allocation tilts.

### Who makes the investment decisions at the firm?

John Bourne and Paul Lent, the co-founders and namesakes of the firm, jointly manage portfolio decisions. The structure is a partnership model without a separate investment committee layer, and regulatory filings identify the pair as the key investment personnel. This keeps decision-making direct and unlayered, a deliberate contrast to committee-driven asset managers.

### How does Bourne Lent's structure align manager and client interests?

The most important alignment mechanism is the co-investment of the principals' own capital alongside external clients in the same concentrated small-cap positions. Because the strategy is inherently illiquid — small-cap value names can take years to re-rate — the managers' personal liquidity and net worth are subject to the same holding-period constraints and drawdown risk as their limited partners' capital.

## Related profiles

- [MRD](https://altss.com/profile/mrd-inc)

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Last updated: 2026-06-03T20:00:00.000Z

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