Guiding Philosophy: Merlin Asset Management develops and manages modern, institutional-style portfolios guided by the Merlin Growth Strategy. This strategy invests in what we believe are the most attractive, high-quality, and fast-growing companies, targeting 10-15% annualized returns over a full economic cycle.

Core Portfolio Characteristics: All strategies are concentrated, high-conviction, benchmark-agnostic, and designed for low turnover with a high active share.

Investment Strategies: The proprietary Merlin Investment Process (Merlin IP) is applied across the capitalization spectrum to build a curated suite of portfolios focused on US-traded companies. Strategies include: Large Cap Growth, SMID Cap Growth, and Small Cap Growth portfolios.

Merlin Focused Growth MO25M

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, large-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

Merlin Focus SMID Cap Growth MSMID25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, SMID-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

The Merlin Focus Small Cap Growth MSPECT25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, small-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

Merlin Focused Growth MO25M

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, large-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

Merlin Focus SMID Cap Growth MSMID25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, SMID-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

The Merlin Focus Small Cap Growth MSPECT25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, small-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

Merlin Focused Growth MO25M

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, large-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

Merlin Focus SMID Cap Growth MSMID25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, SMID-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.

The Merlin Focus Small Cap Growth MSPECT25

  • Investment Strategy: A concentrated and benchmark-agnostic portfolio of 25 high-conviction, small-cap growth stocks selected from the most attractive industries and sectors.
  • Investment Process: The Merlin Investment Process (Merlin IP) is a comprehensive, multivariate approach combining bottom-up analysis, thematic top-down evaluation, and quantitative screening. This structured process is designed to minimize cognitive biases.
  • Company Selection: The Merlin IP identifies companies with significant potential for profitability and earnings growth, sustainable competitive advantages, and attractive valuations relative to their expected growth. It also utilizes proprietary statistical analysis as an additional selection layer.
  • Investment Horizon: Stocks are selected with a long-term outlook of 3–5 years, which promotes low portfolio turnover.
  • Portfolio Construction: All holdings are initially equally weighted and are periodically rebalanced back to equal weights.
  • Sell Discipline: The sell process mirrors the buy process. A stock becomes a candidate for sale if it no longer meets the Merlin IP’s selection criteria.