Galibier™
Growth. At a Reasoned Price.™
Galibier™ Capital Management Ltd. is now operating as Galibier™, a portfolio management team within Guardian Capital LP. We remain committed to delivering the same high level of service Galibier™ clients have come to expect. For questions regarding this transition, please contact us at info@guardiancapital.com.
Our Philosophy
At Galibier™, we believe equity markets often misprice companies. Our approach is grounded in the conviction that:
- Every stock has an intrinsic value that can be calculated.
- Market prices frequently diverge from intrinsic value.
- Growth is a key component of value.
- At the right price, almost any stock can offer value.
- Risk is defined as the permanent loss of capital or failure to meet an acceptable return.
We apply a valuation-driven, bottom-up research process to uncover opportunities where stocks trade below their intrinsic worth.
Our Process
All Galibier™ strategies follow a disciplined, four-step investment process.
Step 1:
Define the Investable Universe
We screen more than 4,000 North American equities to identify companies that we believe exhibit:
- Durable competitive advantages
- Strong cash flow generation
- Shareholder-focused management
- Above-average long-term growth potential
- Prudent financial leverage
This results in an investable universe of approximately 400 companies, with a refined focus list of 100–200 names.
Step 2:
Value Target Companies
Our analysts and portfolio managers project 3–5 year earnings and cash flow potential*, assess balance sheet strength, and apply a required return hurdle (typically 12–15%) to determine intrinsic value.
Step 3:
Construct Portfolio
Portfolios typically hold 20–30 stocks, diversified across industries. Position sizes range from 3% to 7%, based on relative valuation. Investment decisions follow a collaborative “hub and spoke” model, balancing autonomy with accountability.
Step 4:
Manage Portfolio
We actively monitor market prices against intrinsic values, manage diversification across sectors and business models, and assess macro risks such as currency and interest rate exposure. The average holding period for securities in the portfolios has been 3–5 years.
Investment Strategies
Galibier™ offers two strategies for both institutional and individual investors**:
- Galibier™ Canadian Equity
- Galibier™ Global Equity
The strategies follow the same philosophy and process, and are comprised of 20–30 well diversified holdings.
Both strategies are available via a managed separate account or a private pooled fund with daily liquidity.
Meet the Galibier™ Investment Team
Joe Sirdevan, CFA, MBA
Investor and Head of Galibier™ Strategies – Guardian Capital LP
Colin Pearson, CFA
Investor – Guardian Capital LP
Hai Ho, CFA, M.Fin., MBA
Investor – Guardian Capital LP
Jun Chuah, CFA, MBA
Investor – Guardian Capital LP
Kelvin Wong, CFA
Investor – Guardian Capital LP
Client Service
Galibier™ is a portfolio management team with Guardian Capital LP, a registered portfolio manager. Guardian Capital LP services institutional clients invested in Galibier™ strategies, while our affiliate, Guardian Partners Inc., services private wealth clients invested in these strategies.
Contact Guardian Capital LP: institutional@guardiancapital.com
Contact Guardian Partners Inc.: GPInfo@guardiancapital.com
* Projections or forecasts of financial conditions, including earnings and cash flow growth, that are based on current market conditions, economic scenarios and expectations constitute our judgement and are subject to change without notice. Actual results could be significantly higher or lower than forecasted.
** The Galibier™ strategies offered as exempt private pooled funds are only available to qualified investors. Please consult the funds’ offering documents for further information.