Fiduciary Management Inc. (FMI) adopts a distinct investment philosophy, prioritizing businesses with enduring strengths and capable leadership, acquired at a discount to their intrinsic worth. This strategy guides the construction of a diverse portfolio, typically comprising 25-40 companies, spanning multiple sectors to mitigate risk and capture growth opportunities.
A significant development in the third quarter of 2025 was the strategic addition of Fluidra S.A. to the portfolio, representing a 1.7% stake. Fluidra S.A. stands out as a global leader in the pool equipment manufacturing industry, aligning with FMI's criteria for durable business franchises. This investment underscores FMI's commitment to identifying companies with strong market positions and growth potential.
FMI's approach is rooted in a thorough, business-owner-like investigation into the economic fundamentals and management quality of each potential investment. This diligent process ensures that every company added to the portfolio is well-vetted, reflecting the firm's dedication to long-term value creation and disciplined investment principles.
By focusing on intrinsic value and robust business models, FMI aims to generate sustainable returns for its investors. The inclusion of companies like Fluidra S.A. exemplifies this philosophy, demonstrating a forward-looking perspective combined with a solid foundation in fundamental analysis. This methodical approach not only seeks financial prosperity but also fosters a culture of integrity and informed decision-making.
