Krouse Stureman & Associates

The firm runs a concentrated, long-only US equity strategy focused on high-quality businesses trading at discounts to intrinsic value. Portfolios typically hold fewer than 30 names, and the firm is comfortable holding elevated cash when valuations are stretched. The strategy operates exclusively through separately managed accounts, not pooled vehicles.

Eric Stureman acts as the lead portfolio manager and is the named principal driving investment decisions. The firm is a lean operation without a large analyst team, which reinforces the concentrated, high-conviction nature of the portfolio. No additional named decision-makers have been publicly identified.

The firm operates under an implicit capacity constraint due to its concentrated strategy and a stated preference for preserving strategy integrity over asset growth. While not formally soft-closed, its low public profile and absence of intermediary distribution suggest it only accepts capital on a highly controlled basis, often through direct referral.

No. Krouse Stureman does not offer commingled retail vehicles like mutual funds or ETFs. All client assets are managed via individually tailored separately managed accounts, giving clients direct ownership of the underlying common stocks and full transparency into individual positions.

As a registered investment advisor, the firm earns a fee based on a percentage of assets under management, a standard structure for SMAs. The exact fee schedule is not public, but as a capacity-constrained manager, fees are likely higher than those for mass-market retail products. Performance-based fees have not been disclosed.