DGHM is a boutique US value investment management firm, founded in 1982, with the goal of being a leading practitioner of quality value, which considers not only valuation, but also a company's profitability, capital efficiency, and balance sheet strength. A key differentiating characteristic of the firm includes its unique 8-member investment team, working together side by side on each of the firm's products. This Sector Specialist structure facilitates a fundamental research edge that has led to consistent alpha generation and risk management. The average tenure of the members of the investment team is over 30 years, while the years spent working together at DGHM totals 18 on average. DGHM believes that the continuity of the investment team, coupled with the consistent application of it's time tested investment process leads to consistent risk adjusted investment returns over full market cycles. Every employee of DGHM either owns equity, or is compensated with equity ownership interest so that the corporate culture is both collegial, and focused on the best interests of clients.