Primecap Management Co

PRIMECAP Management Company is an independent investment advisory firm established in 1983 in Pasadena, California. The firm's goal is to provide superior long-term investment results tailored to meet clients' specific requirements and objectives. PRIMECAP focuses on managing equity portfolios for a select number of clients, including employee benefit and pension plans, endowments, foundations, and mutual funds for the Vanguard Group. The firm's investment philosophy revolves around fundamental research and bottom-up stock picking, with a focus on long-term value creation. PRIMECAP manages assets totaling $117,232,900,412 as of December 31, 2022, all on a discretionary basis. For separately managed accounts, PRIMECAP charges a management fee based on a percentage of assets under management, with fees calculated on a tiered scale. The firm also charges asset-based fees for managing the Vanguard Funds and PRIMECAP Odyssey Funds. PRIMECAP does not charge performance-based fees and primarily serves institutional clients with a minimum initial account size of $250 million. The PRIMECAP Odyssey Funds have a minimum investment requirement of $2,000 for regular accounts, $1,000 for IRA accounts, and $100 for additional investments. PRIMECAP acts as a fiduciary, providing investment discretion to make decisions on behalf of clients. The firm's investment strategies focus on equity securities, and it does not engage in short sales, margin transactions, or investments in derivatives or currency hedging. Clients have the option to impose reasonable limitations and restrictions on their investments, provided they are clearly stated in writing.