Lakeshore's portfolio generally consists of 20-25 stocks. Companies are usually equal weighted, and no one position is greater than 10% of the portfolio. There are no sector/industry limitations. Securities are typically held for several years and new securities are added only when the fundamentals and price match our criteria. Securities have been sold mainly as a result of acquisition, large relative performance, or a fundamental impairment of the company’s business. The portfolio is constantly monitored.

Lakeshore does not market time nor use any type of derivative instrument to simulate performance. We strive to be fully invested with a target cash balance of 5%.