Portfolio Construction

Positions are initially built at 0.5-1% of portfolio market value. Opportunistic or secondary positions are held at 1-2%. Core positions can grow to 2-4%, but appreciating stocks are usually trimmed so as to not exceed 5% of the portfolio at market. Century is an incremental buyer and seller, typically building or reducing positions over 4-10 trading days. We are not index-huggers.  Sector weights can be as much as twice the weight of the benchmark. Most trading is accomplished on an agency/cents per share basis. Trades are allocated for best net execution and traditional research assistance from Street sell-side analysts. We  also utilize ATS and ECN electronic marketplaces to lower transaction costs for our clients.

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