For decades, the household names in stock-picking—Buffett, Munger, Terry Smith—have dominated the conversation. Meanwhile, a handful of low-profile money managers have been quietly compounding capital the old-fashioned way: by buying great businesses, holding them for years, and letting economics—not excitement—do the work. If you care about return on invested capital, moats, and management discipline, these five deserve a place on your radar.

François Rochon (Giverny Capital)

The artisan of compounding from Montréal

Giverny Capital's Rochon doesn’t run a celebrity fund; he writes long, thoughtful letters, collects art, and measures success in decades. His “Rochon Global Portfolio,” which serves as a model for client accounts, has compounded at roughly 15% annually since July 1993—beating a blended benchmark by more than five points a year—by owning durable, cash-rich franchises and refusing to overtrade. Rochon’s method is disarmingly simple: buy high-quality companies at sensible prices and keep them while intrinsic value grows. It isn’t flashy; it’s patient, exacting, and—judging by three decades of results—effective.

Seilern Investment Management

Quality growth, no compromises

Founded by the late Peter Seilern, this London firm has built an identity around a relentless, rules-based idea: only the best will do. Seilern focuses on OECD-listed companies with high and consistent returns on capital, low or no net debt, enduring competitive advantages and long visibility on earnings—then runs concentrated portfolios of 25–30 names. If a company’s quality slips, it’s gone; if the price is merely volatile, they sit on their hands. In an investing world obsessed with “what’s working now,” Seilern’s philosophy is a reminder that superior economics plus time is still the most powerful compounding engine.

Robert Vinall (RV Capital)

“Business owner” investing from the Alps

From a base near Lake Zurich, Robert Vinall runs an admirably concentrated strategy—around ten holdings—built on four deceptively tough questions: Will this company flourish a decade from now? Is its moat growing? Do managers set the right example? Is the price attractive? The result is a long-only fund that tries to own rarities: businesses you’d be comfortable holding if public markets closed for years. Vinall publishes frank, sometimes bracing letters and gathers portfolio CEOs and fellow investors each winter to talk shop in Engelberg. According to the latest factsheet, his Business Owner Fund has delivered mid-teens annualized returns since 2008—proof that “owner-operator” investing can travel well across sectors and cycles.

Pat Dorsey (Dorsey Asset Management)

The moat-measurement specialist

Before starting his Chicago firm in 2014, Pat Dorsey helped formalize “economic moat” analysis at Morningstar and wrote the go-to book on the subject. Today he runs a concentrated global portfolio—typically 10–15 positions—aimed at competitively advantaged businesses with long reinvestment runways and rational capital allocators at the helm. You won’t find a sprawling watchlist or rapid turnover here; you’ll find deep primary research and a bias toward letting compounding happen. Recent firm materials put assets around $1.3 billion and reiterate the same three pillars Dorsey has preached for years: moats, reinvestment, and capital allocation. If you like your quality investing with a ruler and a blueprint, this is it.

Richard Lawrence (Overlook Investments)

Quiet excellence across Asia

Hong Kong-based Overlook has done something many claim and few achieve: it has compounded capital at roughly mid-teens rates for three decades by buying high-quality Asian franchises, backing honest, competent managers, and keeping portfolios focused. Founder Richard Lawrence runs a refreshingly simple playbook—superior businesses, clean balance sheets, and long holding periods—and lets the numbers speak. Independent profiles and interviews peg Overlook’s long-run compounding at about 14% a year over 30 years, with several billions under management. In a region where governance screens and cycles can trip up even the best, that consistency is the story.

What they share—and why it matters

Strip away geography and branding and you’ll notice the same habits repeating. These managers prefer businesses with high and defendable returns on capital. They stay concentrated enough to matter, yet diversified enough to survive. They obsess over management integrity and capital allocation. They communicate in essays, not sound bites. And they treat “quality” as a cash-flow engine, not a marketing label.

That approach won’t always be in style. When rates jump or memes roar, performance can lag. But markets eventually reward the quiet math of compounding. If you’re building your own process, you could do worse than to borrow from this playbook: raise your bar on business quality, lengthen your holding period, and make capital allocation a first-class research topic—not an afterthought.

Disclosure: This article is for information only and not investment advice. Past performance is not indicative of future results.