Sandpiper Capital Management

Thomas Lukic, a CFA charterholder and the firm's founding partner, serves as Senior Portfolio Manager. He has held primary investment responsibility for more than $500 million in assets over his career. All investment decisions flow through his framework of identifying S&P 500 companies with durable margins and predictable cash flows.

No. The firm's mandate is exclusively public equity, limited to S&P 500 companies that meet strict profitability and cash-flow predictability screens. It does not pursue venture capital, private equity, real estate, or hedge fund allocations. Client portfolios are bifurcated into a Treasury bond ladder for near-term liabilities and a concentrated equity sleeve for long-term growth.

The firm believes that human error, impatience, and arrogance cause the largest gap between investor returns and the passive index. To counteract this, Sandpiper selects a concentrated portfolio of S&P 500 companies with high profit margins and predictable cash flows, then holds them for the long term. The strategy explicitly rejects frequent trading and market-timing predictions.

Each account is mapped against the client's future cash needs. The dollars required to meet those liabilities are invested in Treasury bonds that mature precisely when the cash is needed. Only capital in excess of those predetermined needs is invested in the firm's equity portfolio, creating a built-in liquidity buffer that reduces behavioral pressure to sell during market declines.

The firm uses Schwab Institutional for custody and execution, which enables commission-free trading and keeps turnover low. Combined investment advisory and custodial expenses vary with account size but generally fall between 0.30% and 0.50% per year, as detailed in client agreements. The firm cites cost efficiency as a direct outcome of its low-turnover, long-hold strategy.