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Mid Cap Growth

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Institutional Strategy > Equity > Mid Cap Growth

Mid Cap Growth

A research-driven strategy that seeks growth companies with identifiable catalysts for appreciation

  • Research-driven process emphasizing qualitative, fundamental and valuation analysis that, while mindful of the current macro environment, focuses on bottom-up stock selection to drive alpha
  • Focus on identifying underappreciated catalysts in companies with compelling fundamentals and characteristics that we believe better position them to capitalize on new opportunities and deliver compelling results
  • Consistent approach lead by portfolio manager Kenneth Turek for the last decade with research efforts driven by three seasoned team-embedded analysts and complemented by Neuberger Berman’s centralized Global Equity Research Department


Investment Philosophy

A commitment to quality and long-term growth: We believe that earnings are the primary long-term driver of stock price appreciation and that fundamentals matter over the long-term


Investment Process

Active approach seeking companies with compelling and underappreciated catalysts that also offer higher qualitative and fundamental characteristics around which to develop a non-consensus buy-thesis

  • Positive and predictable unit growth
  • Ability to effectively leverage top-line growth through the P&L to deliver bottom-line expanding cash flow and earnings growth
  • Healthy balance sheet with low debt, improving margins and expanding ROE
  • Credible management with a clear mission and an operating strategy aligned with the interests of shareholders

Portfolio Construction

Market Capitalization

  • Initiate between $2 and $18 billion with a new idea “sweet spot” between $2 to $5 billion
  • Willingness to dip down below $2 billion for a high conviction name and also let winners run to a max of $30 billion

Position Parameters

  • Portfolio of typically around 100 names
  • Primarily focused on U.S. based companies, but can utilize up to a max of 20% ADRs and direct foreign investment for Non-US exposure
  • Portfolio Turnover typically between 40 – 75%

Sell Discipline

  • Act efficiently and dispassionately to address material negative triggers, while attempting to avoid knee-jerk reactions to short-term events, headwinds or anomalies

Risk Management

  • Continuous approach to monitoring risk, with our diversified approach to portfolio construction and sell discipline geared to temper volatility
  • Security selection is the primary driver of alpha and we expect that 90% of our “risk dollars” will be spent at that level


Kenneth Turek, CFA
Senior Portfolio Manager
36 Years of industry experience
17 Years with Neuberger Berman
Chad Bruso, CFA
Associate Portfolio Manager1
21 Years of industry experience
14 Years with Neuberger Berman
Trevor Moreno, CFA
Associate Portfolio Manager1
20 Years of industry experience
6 Years with Neuberger Berman