Since its 1976 founding, this growth-stock boutique has not strayed from its concentrated, low-turnover approach to quality-growth investing. DF Dent manages $8 billion as of June 2023, primarily in three growth strategies: All Cap, Mid Cap, and Small Cap. The firm has gradually grown its investment team to a small cadre of 14 analysts and portfolio managers, an adequate number considering the firm’s focused set of offerings. Meanwhile, the firm has turned down client requests for new products, preferring to concentrate on delivering superior performance in more-proven offerings.
Founder Dan Dent is still a portfolio manager on the firm's all-cap growth fund, but he has thought a lot about succession planning. His heir apparent is his son Matt Dent, who has compiled a strong record over the past decade as a portfolio manager on all three mutual funds and who now serves as firm president. Dan Dent has also been selling down his ownership stake in the firm to employees, 21 of whom were shareholders as of June 2023. Even before this, personnel turnover has been remarkably low, with only three investment professionals leaving in the past 40 years. Fund expenses are middling relative to the funds' peer groups but are not too bad for a firm of this size.