Nicholson Meyer Capital Management, Inc.

Nicholson Meyer Capital Management, Inc. is a wealth-management firm allocating client money, running a $130.4M US long book across 43 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years.

Over the last 5 quarters its long book ran on average 0.7pp per quarter behind the S&P 500, beating the index in 2 of 5 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.