Mary L. Pierson is the Co-CEO and Portfolio Manager at Fairpointe Capital, LLC. She is part of the Mid-Cap Investment Team, serving as Co-Portfolio Manager for the midcap strategy, including the AMG Managers Fairpointe Mid Cap Fund, the Parvest Equity USA Mid Cap Fund, and institutional separate accounts. Prior to co-founding Fairpointe Capital, Ms. Pierson served for seven years as a member of the Mid-Cap Investment Team at a predecessor firm. She co-managed the Aston — now AMG — Mid Cap Fund, the Parvest Equity USA Mid Cap Fund and separately managed institutional accounts as well as providing research and analysis of existing and potential midcap equity holdings.
Marie L. Lorden is a Portfolio Manager and the Co-Founder of Fairpointe Capital, LLC. Ms. Lorden serves as a member of the Mid-Cap Investment Team and the firm’s executive team. Her responsibilities include serving as Co-Portfolio Manager for the midcap strategy, including the AMG Managers Fairpointe Mid Cap Fund, Parvest Equity USA Mid Cap Fund, and institutional and private client accounts. Prior to co-founding Fairpointe Capital, Ms. Lorden was, for eight years, a member of the Mid-Cap Investment Team at a predecessor firm. She co-managed the Aston — now AMG — Mid Cap Fund, the Parvest Equity USA Mid Cap Fund, and institutional and private client accounts, as well as providing research and analysis of existing and potential midcap equity holdings. Ms. Lorden held positions specializing in equity product analysis with Zurich Insurance Group, Driehaus Capital Management and The Burridge Group.
The two women own and manage the investment company. “We are 100% employee-owned and 100% female-owned at this time. We had $5.1 billion in assets under management at the end of October. We subadvise two mutual funds, the AMG Managers Fairpointe Mid Cap Fund as well as the Parvest Equity USA Mid Cap Fund, and we also manage a number of institutional relationships. There are 15 people at the firm. Our primary strategy is midcap. We have an 18.5-year track record. We are very interested in the midcap space and always have been. We think there is a lot of potential there. Midcaps are generally less risky and have a more mature capital structure than small caps, offer better liquidity.”
One of the top picks detailed in this exclusive interview with the Wall Street Transcript is “LKQ (NASDAQ:LKQ). I think we’ll talk about that. LKQ stands for like-kind quality. And they buy over 200,000 salvage vehicles a year. They repair and replace; they offer alternative and specialty parts for automobiles. So when a car gets in an accident and you need to repair something, you take it into the shop. Well, some of the parts can be from the OEMs — original equipment manufacturers — but oftentimes, what insurance will pay for is like-kind quality parts that are not OEM level. And what’s interesting about LKQ is they have a CRM or IT system that is second to none, where they can inventory parts they need, what prices they should pay. ”
To get more of the top picks from Marie Lorden and Mary Pierson of Fairpointe Capital, read the entire interview in the Wall Street Transcript.
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