The long-term approach has paid off handsomely for Mark Mulholland, the manager of Jenkintown’s Matthew 25 Fund, as the Montgomery County fund is one of the top-performing mutual funds for the fourth quarter of 2016, writes Tim Gray for The New York Times.

Mulholland tends to hold onto investments longer than his competitors, with his fund’s turnover ratios significantly under the average.

He usually only sells around a fifth of his fund’s portfolio annually, holding on to some stocks, such as Berkshire Hathaway, for over two decades.

He started focusing primarily on value, looking for stocks that were selling significantly under his estimate of their worth.

However, he soon concluded that the best companies were ones with the biggest potential for long term growth which investors often had to pay more for.

“You make money by buying the exceptional — an exceptional business, exceptional management or an exceptional price,” he said.

Twenty years on, Mulholland refers to himself as a “price-conscious” purchaser of both value and growth stocks. He runs his business from an office in Jenkintown, with him and his wife the largest shareholders.

“I invest for myself and whoever wants to ride along with me,” explained Mulholland.

Read more about Matthew 25 Fund at The New York Times by clicking here.