Cortland Associates limits the number of investments held in portfolio to a manageable number of carefully researched companies. This promotes high-quality, informed decision-making. Furthermore, the functions of research and the management of portfolios are combined. As a result, portfolio managers know precisely what they are buying and are acutely aware of the appropriateness of each security for the client objective. This not only assures an adherence to the philosophy of true value-oriented investing, but it enables managers to respond swiftly to significant business or economic change.