Why Stance?

Values-based investing has been around for hundreds of years and long before the terminology surrounding this practice got confusing. At its core the idea is a good one: use capital to exercise ethical preferences whether these be faith-based, worker-rights, environmental, or something else. The challenge has always been to do so without under-performing the market in the process, and historically speaking, practitioners have failed to generate competitive financial returns. As a result, values-based investing has struggled to become mainstream.

Things are changing. Stance Capital is at the forefront of a new generation of portfolio strategists that understand three things.

The first is that environmental, equality-based, and geo-political risks, to name a few, are also portfolio risks. Companies that aren’t good stewards of the environment and their communities are a threat to portfolio returns. Conversely, with proper portfolio construction, investors can mitigate material risks and at the same time out-perform their benchmarks.

Second, the act of doing will change corporate behavior for the better. CDP and Climate Accountability Institute recently released a report highlighting that just 100 companies worldwide are responsible for over 70% of global greenhouse gas emissions since 1988. Some investors will divest of these companies due to portfolio risk, and others will work with these companies to achieve positive change, but make no mistake, change will come and there will be winners and losers in the process.

Third, there’s a rapidly growing body of investors that get it, and they are institutions and families and individuals, with the compassion to do more with their money than just generate healthy financial returns. Instead, they see their capital as a means of creating change for the good.

So why Stance Capital? Because it’s time.

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Why it Matters

Taking a stance with capital is not just about negative screening. Instead, the idea is to invest in companies that both exhibit strong underlying fundamentals and at the same time, compared to industry group peers, are doing a better job at mitigating material performance risks. So why does this matter? Because it’s an opportunity to invest in better run companies.

3X the SP500

Clean Energy

20% higher than average of SP500

Women in Leadership

20-50% lower carbon profile

Low Carbon Fooprint

This is revenue tested

No Weapons


No Tobacco


No Thermal Coal

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Stance Equity ESG Large Cap Core

Stance Equity ESG Large Cap Core is a quantitative, actively managed, U.S. large cap strategy. Initially we identify companies that successfully manage sustainability‐related key performance indicators (KPIs) such as energy productivity, carbon intensity, water dependence, and waste profile. Additional KPIs relating to governance include capacity to innovate, unfunded pension fund liabilities, CEO/average worker pay, safety performance, employee turnover, leadership diversity, percentage tax paid, and % bonus linked to sustainability performance.

Excluded from consideration are companies engaged in weapons, tobacco, or thermal coal, as well as companies where women are not meaningfully employed in senior management and board positions.

The second process within Stance Equity tests fundamental financial and risk factors for statistical significance as generators of alpha. The factors compete for inclusion on an annual basis and are adjusted based on accumulated learning. The resulting portfolio represents the intersection of the first two processes. The final process optimizes the portfolio to maximize diversification and reduce correlation.

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Trailing Period Stance Equity (Net) S&P 500 Index S&P 500 Value Index
Inception Return (Annualized) 11.02% 11.22% 8.46%
Standard Deviation 8.72% 9.72% 9.97%
Beta 0.69 1.00 0.97
Alpha 3.24% 0.00% -2.11%

Performance as of 6/30/18


ESG Data Sources

Sourced through Corporate Knights Research

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In the News

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Who We Are

Stance Capital is a Massachusetts-based Registered Investment Advisor, and our clients are individuals, families, endowments, and institutions. We also build products for other investment firms under research and sub-advisory agreements.

Meet Our Team


Bill Davis

Prior to forming Stance Capital, LLC, Mr. Davis was co-founder and Managing Director of Empirical Asset Management, and Portfolio Manager on EAM Sustainable Equity, a strategy he launched in 2014.

Kyle Balkissoon

Mr. Balkissoon is an expert and practitioner in quantitative analysis, data science and portfolio management. He has experience spanning banking, energy and capital markets sectors.


Serena Fagan

Serena Fagan is responsible for developing, implementing and executing strategic marketing plans. Serena has experience in Sales and Marketing spanning energy, wealth management and venture capital.

Shivam Patel


Shivam is the Editorial Intern at Stance. A current high school junior with a passion for mathematical finance and socially responsible investing, Shivam has already proven himself as a. thought leader as a contributor at Wall Street Survivor and his financial research at Stanford University under Professor Fuhito Kojima. 

Dan Yamron

Mr. Yamron heads client relations and business development at Stance. Before joining the firm, he served in various capital markets roles on Wall Street for over 20 years.


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Contact Us

One Lewis Wharf, Suite 303 Boston, MA

(for GPS please use 34 Atlantic Ave, Boston MA)

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