Investment Overview

The Eaton Vance Small/Mid-Cap Equity Strategy offers exposure to a broadly diversified portfolio of high quality, small- and mid-cap companies.

Investment Philosophy

We focus on three definable inputs - Quality, Valuation, and Time (QVT). Our focus on quality drives a preference for well-entrenched franchises with durable and scalable business models, typically benefitting from either structural growth (compounders) or structural change (improvers). We believe a disciplined combination of quality in a reward-to-risk framework with a long-term mindset can uncover sources of alpha in the broad and inefficient small cap universe.

Investment People

6 person team with an average of 14 years experience located in Boston
Supported by the broader Eaton Vance equity group with over 501 investment professionals
Analyst-driven process to maximize the impact of fundamental bottom-up stock selection
1Portfolio managers, analysts, and traders including US and Global/International Equity team members.


Structured to implement our philosophy in a disciplined and repeatable reward-to-risk framework
Designed to maximize the impact of fundamental bottom-up stock selection
Portfolio exercises ensure team ownership, encourage collaboration, and test biases
High levels of accountability, with distinct lines of responsibility
1000+ company meetings per annum

Portfolio Construction

50 – 100 holdings2
Quality/core bias
Expect resilience in down markets
Alpha driven by bottom-up stock selection
Clearly defined risk parameters
2The number of securities/holdings indicated is the current range typically associated with this type of account and will vary depending on account size, client parameters and market conditions prevailing at the time of investment.

Investment Team

Michael D. McLean, CFA
Portfolio manager, Consumer Discretionary & Consumer Staples
16 years of industry experience
16 years at Eaton Vance
BS, Providence College
J. Griffith Noble, CFA
Portfolio manager, Energy, Industrials & Materials
22 years of industry experience
6 years at Eaton Vance
BS, University of Vermont
MBA, Babson College
Brian Hertzog
19 years of industry experience
1 year at Eaton Vance
BA, Saint John's University
Prachi Samudra
11 years of industry experience
3 years at Eaton Vance
BS, Walchand College (India)
MBA, Duke University
Andrew Valk, CFA
Utilities, Industrials
12 years of industry experience
10 years at Eaton Vance
BS, Worcester State University
Ryan Cavanaugh, CFA
Health Care
5 years of industry experience
5 years at Eaton Vance
BS, Bentley University


Benchmark: Russell 2500™ Index