Question 1

What is your investment approach?

Accepted Answer

Our investment philosophy is built on making high-conviction, benchmark-agnostic investments in a concentrated portfolio of 10-20 global technology companies. We employ a patient and disciplined research process rooted in first-principles thinking to identify durable, high-quality businesses that we believe are undervalued. Our focus is on a company's long-term growth duration and cash flow generation, rather than near-term market noise.

Question 2

What areas of technology do you focus on?

Accepted Answer

We invest across the global technology landscape, with a focus on mission-critical infrastructure. Our portfolio includes companies in sectors such as semiconductors, infrastructure software, enterprise hardware, internet platforms and apps, and fintech rails. We conduct deep, bottom-up fundamental analysis to find market leaders with enduring competitive advantages.

Question 3

How do you identify opportunities beyond mainstream technology trends?

Accepted Answer

Our process is designed to uncover value in the second-order effects of major secular trends, such as Artificial Intelligence. Rather than focusing only on the primary trend, we use first-principles thinking to ask, 'What new bottlenecks or opportunities does this create?' This leads us to investigate the critical, often overlooked, enablers that become more valuable as the main trend accelerates.

Question 4

How do you approach risk management?

Accepted Answer

We define risk as the permanent loss of capital. Our primary risk management tool is investing only in businesses we understand deeply. We manage a concentrated portfolio of our best ideas rather than overdiversifying, which allows for rigorous monitoring of each position. We seek a sufficient margin of safety in our valuations to protect capital, even in downside scenarios.

Question 5

Who is Shepherd Investment Management best suited for?

Accepted Answer

Our services are designed for long-term oriented, sophisticated investors who seek a focused exposure to the global technology sector and appreciate a partnership built on transparency, rigorous research, and a shared commitment to long-term value creation.

Question 6

What are the investment minimums?

Accepted Answer

Minimum investments are typically $1,000,000 for a Separately Managed Account (SMA). We encourage you to contact us, as we can discuss the investment approach best suited to your specific objectives.

Question 7

What is your fee structure?

Accepted Answer

We offer a transparent fee structure designed to align interests with clients; for Separately Managed Accounts, the standard advisory fee is 1.0% per year, calculated quarterly in arrears, with full terms provided in our Form ADV Part 2A.

Question 8

How often will I receive updates on my portfolio?

Accepted Answer

We provide clients with comprehensive performance reports on a quarterly basis. In addition to formal reporting, we maintain an open line of communication and provide periodic market commentary and updates on portfolio positioning.

Frequently Asked Questions