Keep pulling the thread on Mike Trigg and Sanjay Ayer.
WCM Investment Management has expanded its investment strategy to include private markets, beginning its active investment in 2022.
WCM Investment Management's first private market investment was in Anduril, and WCM was the first crossover fund to invest in the company.
WCM Investment Management has made late-stage private investments by co-leading two funding rounds for Databricks and participating in a funding round for Anthropic.
As part of its portfolio repositioning, WCM Investment Management sold positions in companies like Louis Vuitton and Costco and initiated positions in Rolls-Royce and Siemens Energy.
According to WCM's internal "frozen portfolio" analysis, its actively repositioned portfolio has drastically outperformed what its older, unchanged portfolio would have.
WCM Investment Management exited its position in Costco due to its high valuation, which reached a P/E multiple in the 50s.
WCM Investment Management invested in 3i Group to gain exposure to its portfolio company Action, a European retailer WCM views as an early-stage Costco.
WCM Investment Management is building proprietary AI models to codify its "moat trajectory" and "culture" investment frameworks.
WCM's proprietary AI model analyzes SEC filings, transcripts, and reports to flag material changes in a company's "moat trajectory" over an 18-month period.
WCM Investment Management has structured its private markets investment team to be fully integrated with its public markets team, rather than operating as a separate silo.
WCM Investment Management believes its private market investments provide essential visibility into the AI landscape, particularly regarding emerging use cases and the culture of AI-native companies.
WCM Investment Management is evolving its framework for analyzing corporate culture to focus more on the "social mechanisms that reinforce behaviors," a concept captured in an internal paper titled "Putting the Cult Back in Culture."