# Silver Heights Capital Management Silver Heights Capital Management is a Bank / Wealth / Trust based in Toronto, Ontario, Canada. ## Overview - **Organization type:** Bank / Wealth / Trust - **Headquarters:** Toronto, Ontario, Canada - **Region:** North America - **Address:** Bay Adelaide Centre, West Tower, 333 Bay Street – Suite 1140, Toronto, ON Canada M5H 2R2 - **Founded:** 2006 - **Assets under management:** Undisclosed - **Website:** silverheights.com - **LinkedIn:** https://www.linkedin.com/company/silver-heights-capital-management ## Regulatory record - **CRD number:** 284757 - **SEC file number:** 801-108786 - **Registration status:** Registered - **Reports private funds:** No - **IAPD record:** https://adviserinfo.sec.gov/firm/summary/284757 ## About Silver Heights Capital Management opened in 2006 in Toronto, founded by Ming Lam and Kevin Kuebler. Lam's entire career has been in investment management; he traces the start of his professional path to O'Donnell Investment Management, where he worked after managing his own university portfolio. The firm operates as a registered investment adviser serving private individuals, affluent families, and select institutions, with no disclosure of underlying wealth origin from an operating business or single-family pool. The strategy is a concentrated, long-only public-equity approach built around a quality-and-valuation discipline. The firm runs a deliberately narrow book — management openly criticises the industry practice of owning 50 or more stocks — and instead selects a small group of high-conviction businesses acquired at a discount to intrinsic value. The mandate targets long-term absolute returns rather than quarterly relative performance, with capital preservation referred to as the first rule of investing. The firm has not published a named portfolio-company list, specific sector allocations, or identifiable co-investors. It markets to Canadian, US, and international investors through separate regulatory and contact pathways, signalling a cross-border client base that includes non-resident investors. The Toronto office on Bay Street is the firm's sole disclosed location. The public-facing team includes Lam, Kuebler, Yahphen Yvonne Chang, Trish Campbell, and Bert Powell. No headcount, AUM, aggregate deployment, philanthropic vehicle, or club affiliation has been published. No dated operational event from the last 24 months is verifiable through the firm's own disclosures. Silver Heights separates itself structurally by rejecting the diversified-mutual-fund model that dominates Canadian wealth management and instead operating as a concentrated separate-account manager with a Buffett-style quality-and-margin-of-safety mandate. The absence of a bank parent or platform affiliation means the firm can run a narrow portfolio without the dilution pressures that push larger advisory businesses toward over-diversification or closet indexing. ## People - Ming Lam — Co-Founder - Kevin Kuebler — Co-Founder - Yahphen Yvonne Chang — Team Member - Trish Campbell — Team Member - Bert Powell — Team Member ## Questions ### Who runs investment decisions at Silver Heights? Ming Lam, a co-founder, leads the investment effort. His professional career began at O'Donnell Investment Management, and he has managed portfolios since university. The firm does not separately publish a CIO title or an investment committee roster, but Lam is the named principal on the investment philosophy and client-contact materials. ### How does Silver Heights's 'Intelligent Concentration' approach differ from a typical diversified equity strategy? The firm deliberately limits the number of holdings to avoid diluting its best ideas, calling the industry convention of owning 50 to 100 stocks a mistake. It builds portfolios from a select group of high-quality companies purchased only when the stock price provides a margin of safety, and it targets absolute returns rather than relative benchmark performance. ### Does Silver Heights invest in private companies, funds, or alternatives, or is it strictly public equities? All disclosed materials describe a public-equity mandate. The firm's philosophy centers on buying businesses that are publicly traded at a discount to intrinsic value, with no mention of private placements, fund commitments, venture capital, or alternative assets on its website. ### What is Silver Heights's known posture on capital preservation and downside risk? Capital preservation is treated as the first rule. The firm's published investor materials emphasize the arithmetic of recovering from losses and structure their security selection and concentration around reducing the permanent impairment risk rather than tracking an index. ## Related profiles - [Silverhawk Capital Partners](https://altss.com/profile/silverhawk-capital-partners) - [Silver Lake](https://altss.com/profile/silver-lake-technology-management) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/silver-heights-capital-management-inc Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology