U.S. Value Equity Strategy
The Lyrical Asset Management U.S. Value Equity strategy is a concentrated portfolio selected from the universe of the largest 1,000 stocks in the United States.
Overview
Strategy Description & Investment Objective
Like Lyrical’s other strategies, U.S. Value Equity is grounded in process. The portfolio normally includes 33 best ideas, diversified by sector and industry. The strategy is designed with a goal to diversify by industry with enough concentration to drive differentiated performance. Active Share is typically very high at 95% or higher. Tax efficiency has also been high, with average turnover of ~15% per annum.
Portfolio Managers
Andrew Wellington
Founder, Chief Investment Officer
Dan Kaskawits, CFA
Portfolio Manager
John Mullins
Portfolio Manager
Product Description
- ~33 U.S. listed stocks
- Selected from largest 1,000 U.S. stocks
- Pure bottom-up
Stock Selection
- Value
- Quality
- Analyzability
Strategy Accessibility
- Limited Partnership (Flagship EQ Strategy)
- Separately Managed Account (SMA)
- Mutual Fund
- UCITS
- UMA
Strategy Details
As of 06/30/2026
| Selection Universe | 1,000 largest stocks traded on a U.S. exchange |
|---|---|
| # of Holdings | Approximately 33 stocks |
| Portfolio Weighting | Capitalization-scaled product (modified equal-weight) |
| Targeted Outperformance | 500 bps (S&P 500) |
| Industry Constraints | Limit of three per industry |
| Country Constraints | N/A |
| Max Position Size | 5% at cost |
| Wtd. Avg. / Median Market Cap | $31.5B / $21.5B |
| Active Share | 98.5% vs. S&P 500 |
Holdings
Top 10 Holdings
As of 06/30/2026
| Name | Industry | Mkt Cap ($Bn) | Weight |
|---|---|---|---|
| Flex Ltd. (FLEX) | Electronic Production Equipment | $59.40 | 10.0% |
| AerCap Holdings NV (AER) | Finance/Rental/Leasing | $23.00 | 4.9% |
| NRG Energy, Inc. (NRG) | Electric Utilities | $30.80 | 4.7% |
| F5, Inc. (FFIV) | Packaged Software | $23.50 | 4.7% |
| Johnson Controls International plc (JCI) | Industrial Machinery | $90.40 | 4.1% |
| WESCO International, Inc. (WCC) | Wholesale Distributors | $16.80 | 4.0% |
| Affiliated Managers Group, Inc. (AMG) | Investment Managers | $8.90 | 3.9% |
| Arrow Electronics, Inc. (ARW) | Electronics Distributors | $10.90 | 3.8% |
| Expedia Group, Inc. (EXPE) | Other Consumer Services | $30.70 | 3.7% |
| TD SYNNEX Corporation (SNX) | Electronics Distributors | $21.50 | 3.5% |
Portfolio holdings are subject to change and should not be considered investment advice.
Weightings
As of 06/30/2026
- Consumer Discretionary
- Consumer Staples
- Energy
- Financials
- Health Care
- Industrials
- Information Technology
- Materials
- Communication Services
- Utilities