OUR HISTORY

Who We Are

Stewart Asset Management’s core philosophy is that share prices follow earnings growth.

Our group's philosophy has always been simple: share prices follow earnings growth and through assiduous research, we can construct portfolios whose constituent companies are growing far faster than the typical publicly traded company. The goal is to double our clients’ capital every five years, net of fees. A goal which has consistently been exceeded throughout our history.

This philosophy was originated by Bill Stewart when he founded the original W.P. Stewart & Co. in 1974. W.P. Stewart grew rapidly and in December 2000 became a publicly traded asset management firm on the New York Stock Exchange. At that time, the company had approximately $13 billion in assets under management.
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At year-end 2013, W.P. Stewart & Co. Ltd was acquired by Alliance-Bernstein, a large global asset management firm. About a year after this transaction, Bill Stewart founded Stewart Asset Management, LLC. At founding, Bill Stewart was joined by Steve Powers, now senior portfolio manager, and later by Tom Valenzuela as CIO, a role he also had at our predecessor firm. Sam Colleran joined several years ago and has advanced to become a portfolio manager. The present team has been working together for more than half a decade and we continue to focus on investing in world-class, exceptional companies whose earnings power grows consistently and rapidly.
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In February of 2024, Stewart Asset Management, LLC's investment team moved to Ingalls & Snyder LLC, a registered investment adviser with approximately $8.5 billion in assets. Ingalls was founded in 1924 and remains an asset management firm owned and operated by its sixteen partners. More information about Ingalls & Snyder can be found here.

Though we have evolved in both name and organization, Stewart Asset Management continues to employ the same concentrated growth stock strategy and process that had been a hallmark of W.P. Stewart since inception.

2014

Stewart Asset Management, LLC Founded

15.92%*

Average Annual Returns Since Inception, Net of Fees

Stewart’s Investment Services

We offer one service, our concentrated U.S. growth strategy, which was started at our predecessor firm, W.P. Stewart & Co., Ltd, over fifty years ago.

Our strategy invests in publicly traded companies whose market capitalizations vary in size but we generally favor mid-to-large capitalization companies whose shares are highly liquid. Our clients’ portfolio investments generally mirror closely the holdings and weightings in our strategy's model portfolio.

Client service is a priority for Stewart Asset Management. In this function Stewart is ably supported by Ingalls & Snyder, founded in 1924. The members of our team make themselves available to clients on a quarterly basis, or whenever needed.

* Performance Disclosures The return provided is the performance of an account (“Flagship Portfolio”) that the Firm believes fairly represents the performance of the Stewart Asset Management Team’s (“SAM”) strategy (“Strategy”). The “net” returns presented are after the deduction of management fees as well as other expenses, including costs associated with brokerage. The “gross” annualized returns without the deduction of management fees and any other expenses, including trading costs are 16.98%, and are provided as supplemental information to net returns. Annualized returns are based on performance of the Flagship Portfolio starting from October 13, 2014 (“Inception Date”) to October 31, 2024. Performance returns reflect the average annual rates of return. Performance from Inception Date to March 14, 2024, reflects SAM’s investment performance as a team at Stewart Asset Management, LLC, which was a period prior to SAM’s move to and continued management of the Strategy at Ingalls & Snyder, LLC (“Ingalls”). Generally, the Strategy maintains an allocation ranging from 1% to 4% in cash.

In addition to the annualized returns provided for a 10-year period, the Flagship Portfolio’s performance for a 1-year period from November 1, 2023 to October 31, 2024 is 44.47% , net of fees, and the performance for a 5-year period from November 1, 2019 to October 31, 2024 is 16.83%, net of fees.
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Ingalls believes that the stated performance is an accurate representation of SAM's prior performance. The Flagship Portfolio represents how SAM generally implements its investment process under normal market conditions. Past performance is not an indication of future results. The performance of each client’s managed account may differ due to specific investment guidelines, restrictions and time period which the account has been open and under the management of SAM. Accordingly, individual results will vary.
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Additional Disclosures This Strategy are subject to market risk, which is the possibility that the market values of securities owned in an account will decline. Accordingly, you can lose money investing in this Strategy. Please be aware that this Strategy may be subject to certain additional risks. In general, equity securities' values also fluctuate in response to activities specific to a company. Investments in foreign markets entail special risks such as currency, political, economic, and market risks. American Depositary Receipts (ADRs) represent an ownership interest in securities of foreign companies and involve many of the same risks as those associated with direct investment in foreign securities, including currency, political, economic and market risks. The Strategy may, from time to time, invest in stocks of small- and medium-capitalization companies which entail special risks, such as limited product lines, markets and financial resources, and greater market volatility than securities of larger, more established companies.

The Flagship Portfolio has employed the investment strategy in a similar manner to that employed in the SAM’s separately managed accounts (“SMAs”). However, portfolio management decisions made for the Flagship Portfolio may differ. The holdings and portfolio activity in the Flagship Portfolio may not be representative of some SMAs managed under this Strategy due to differing investment guidelines, client restrictions, and the time period the account was opened and managed by SAM.

There is no guarantee that any investment strategy will work under all market conditions, and each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. Please consider the investment objectives, risks and fees of the Strategy carefully before investing.

Any third-party data has been obtained from sources that we believe to be reliable, but we do not guarantee its accuracy, completeness or timeliness. Third party data providers make no warranties or representations relating to the accuracy, completeness or timeliness of the data they provide and are not liable for any damages relating to this data.

Ingalls & Snyder, LLC is a SEC registered investment adviser and FINRA member broker dealer. For important information about the investment manager, please refer to Form ADV Part 2 and Form CRS which are located here.

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Stewart Asset Management is an investment advisory management team at Ingalls & Snyder, LLC, an investment advisor registered with the U.S. Securities & Exchange Commission and a FINRA member broker dealer. The content in this website is for informational purposes only and is not intended to be a general guide to investing, or as a source of any specific investment recommendation and makes no implied or express recommendation concerning the manner in which any account should be handled. Any investment program involves certain risks, including loss of principal, and no assurance can be given that any specific objective will be achieved. None of the content provided herein should be deemed tax or legal advice. Each individual’s tax and financial situation is unique. Therefore, you should consult a professional legal and tax advisor before taking action.