Overview
Form ADV Part 2A, Item 4
Cubic Asset Management is an independent firm offering separate account management to endowments,
foundations, retirement plans and high net worth individuals since November 1, 2007. The analysts/portfolio
managers have over s
eventy
years combined investment experience. We offer several products, all built
around a disciplined, bottom-up value investment strategy.
The firm is 100% owned by James L. Kaplan, who previously owned J.L. Kaplan Associates, LLC, another
registered investment advisor founded in 1976 which was sold to the Evergreen Investments division of
Wachovia Bank on November 1, 2002. Our only office is located in the Back Bay area of Boston.
Cubic Asset Management offers discretionary portfolio management services to both institutional and high-net
worth clients. Stock selection is based upon fundamental criteria typically associated with a “value” investment
style. We do not utilize market timing, technical or quantitative analysis.
We do not offer financial planning services. However, certain high-net worth clients do ask for assistance in
establishing asset allocation guidelines. We do not charge a fee for such consultation.
In general,
we tailor our advisory services to the individual needs of clients in one of two ways. The majority of
portfolios we manage consist of only equities, restricted to specific capitalizations (such as small-cap, smid-cap,
mid-cap or all-cap, for example). Additionally, some clients impose additional restrictions, such as the
requirement that we not purchase so-called sin stocks (like alcohol and tobacco), defense companies,
companies that utilize animal testing, or foreign securities, to name a few. A few clients request that we
purchase only dividend paying stocks.
In addition to tailoring portfolios by market-cap, some high net worth and retirement plan clients specify that
their portfolios be balanced between stocks and bonds, using targeted percentages. The equity portions of
such portfolios are selected using the same criteria we use for equity-only portfolios; the bond portions are
laddered. Clients frequently mandate minimum Moody’s or Standard and Poor’s ratings.
We participate in a single wrap fee program for Capital Management Associates.
We manage $679,278,029 of client assets on a discretionary basis as of December 31, 2023. We do not
manage any accounts on a non-discretionary basis.