Will Muggia
President, Chief Executive Officer & Chief Investment Officer
Sector Focus
Sustainable Growth Equity
Inception Date:
January 1, 2016
Strategy AUM:
$101M
BENCHMARK:
Russell 1000® Growth Index
Status:
Open to new investors
Vehicles:
Separate Account
Mutual Fund
Strategy Overview
A high-conviction, low-turnover large-cap growth strategy combining deep research and independent ESG analysis to identify high-quality businesses with durable growth, sustainable advantages, and attractive valuations.
Investment Approach
Sustainable Growth combines deep fundamental research with independent ESG analysis to identify high-quality large-cap growth companies with the potential to outperform over time. We focus on businesses with durable earnings power, strong balance sheets, and sustainable competitive advantages—believing these attributes are essential to long-term value creation. A proprietary ESG rating process is applied to every company under consideration, enhancing our understanding of risk and opportunity, particularly where sustainability dynamics may shape future outcomes.
The result is a high-conviction, low-turnover portfolio of fundamentally strong, sustainability-minded companies trading at compelling valuations. Sector exposure is balanced, and position sizes are guided by conviction, quality, and risk profile—ensuring the portfolio remains focused, disciplined, and forward-looking.
Key attributes of our approach include:
- Bottom-up research with a focus on growth, quality, and sustainability
- Proprietary ESG evaluation to assess company behavior and long-term risk
- Balanced exposure across sectors, with 35-40 holdings
- Disciplined risk framework guiding portfolio construction
Performance and Exposures
Investment Performance
Preliminary Rates of Return (%) - Periods Ending September 30, 2025
Composite - Gross:
QTD
8.21
YTD
18.30
1-Year
25.80
3-Year
29.83
5-Year
15.53
10-Year
--
SI (JAN-16)
17.70
Composite - Net:
QTD
8.05
YTD
17.77
1-Year
25.06
3-Year
29.05
5-Year
14.81
10-Year
--
SI (JAN-16)
16.92
Russell 1000® Growth:
QTD
10.51
YTD
17.24
1-Year
25.53
3-Year
31.61
5-Year
17.58
10-Year
18.83
SI (JAN-16)
18.50
Key Characteristics
As of September 30, 2025
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Characteristic | Portfolio | Benchmark |
|---|---|---|---|---|---|---|---|
| 15 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Number of Holdings | 33 | 388 |
| 16 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Active Share | 46% | -- |
| 17 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | 1-Year Asset Turnover | 38% | -- |
| 18 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Wtd. Avg. Market Cap ($M) | $1,814,999 | $1,924,703 |
| 19 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Cal Yr P/E 2025 ¹ | 34.4x | 33.3x |
| 20 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Forward EPS Growth 2025 ¹ | 21.7% | 18.5% |
| 21 | nhoyt | 10/10/2025 04:43 PM | nhoyt | 10/10/2025 04:43 PM | Tracking Error (5 Yr gross) ² | 3.47% | -- |
Top 10 Active Weights
As of September 30, 2025
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Security | Active Weight (%) | GICS Sector |
|---|---|---|---|---|---|---|---|
| 21 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Ascendis Pharma A/S Sponsored ADR | 3.83 | Health Care |
| 22 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | TransDigm Group Incorporated | 3.02 | Industrials |
| 23 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Axon Enterprise Inc | 2.39 | Industrials |
| 24 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | ServiceNow, Inc. | 1.82 | Info. Tech. |
| 25 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Taiwan Semiconductor Manufacturing Co. | 1.75 | Info. Tech. |
| 26 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Visa Inc. Class A | 1.71 | Financials |
| 27 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Amazon.com, Inc. | 1.68 | Cons. Disc. |
| 28 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Alnylam Pharmaceuticals, Inc | 1.66 | Health Care |
| 29 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | GE Vernova Inc. | 1.65 | Industrials |
| 30 | nhoyt | 10/10/2025 04:44 PM | nhoyt | 10/10/2025 04:44 PM | Comfort Systems USA, Inc. | 1.59 | Industrials |
Sector Exposure
As of September 30, 2025
Source: FactSet. Representative Portfolio data shown as of 9/25/25 unless otherwise stated. Past performance is not indicative of future results - Please click here for GIPS® Compliant Presentation. Returns are annualized for periods greater than one year. Any third party data contained herein has been obtained from sources believed to be reliable, but the accuracy of the information cannot be guaranteed. ¹Cal Yr P/E 2025 and EPS Growth (2025 est.) for the portfolio is sourced from FactSet Street estimates for the current portfolio holdings and is subject to change. ²Strategy Composite data gross of fees. Active weights represent the top 10 active longs relative to the benchmark. Dual share classes are combined when calculating active weights. The holdings and percentages may not represent the current or future portfolio composition. Due to rounding and cash, sector weights may not sum to 100%. Portfolio characteristics may differ depending on specific client guidelines and restrictions.
Meet The Team
Our Investment Team
