A San Francisco-based investment firm focused on resilient businesses with competitive moats and disciplined management.
Lobos Creek is the last natural, free-flowing water source in San Francisco. This resilience inspires our investment philosophy: identify and invest in businesses that we believe possess uniquely powerful competitive positions.
We prioritize independent research and intellectual rigor over comfortable consensus. By investing in essential businesses, we construct portfolios that we believe are designed to weather economic cycles and compound capital over decades.
Matthew Gordon, Founder
Our goal is to compound capital through disciplined concentration, targeting rare investments that we believe offer both high returns and low risk of permanent loss.
We invest exclusively in what we believe are competitively advantaged businesses. We seek wide economic moats—driven by network effects, high switching costs, or efficient scale—that protect consistently high returns on invested capital.
Recognizing that long-term returns typically follow expanding fundamentals, we target companies that we believe are positioned to compound intrinsic value and earnings per share over decades.
We believe poor capital allocation can permanently impair shareholder value. We work to identify management teams that have demonstrated operational excellence and a track record of prudent capital deployment.
Even an exceptional business can become a poor investment at the wrong price. We require a margin of safety, investing only when an asset trades at a discount to our assessment of its intrinsic value.
We define risk not as short-term volatility, but rather the probability of permanent loss. We try to mitigate this risk through concentration in exceptional businesses, rigorous analysis of overlapping exposures, and strict avoidance of both portfolio-level leverage and highly indebted operating companies.
We are building a firm grounded in independent thinking, deep fundamental research, and a long-term perspective.
Founder, Analyst & Portfolio Manager
Matthew directs the firm’s investment strategy, drawing on over two decades of industry experience. Prior to founding Lobos Creek Investors LLC, he served as a Senior Equity Analyst and Portfolio Manager at Summitry LLC, where he was a member of the investment committee and launched the firm's concentrated equity strategy. He holds an MBA from Columbia Business School and a BA in Computer Science from Amherst College.
We are focused on building lasting relationships with individuals, families, institutional investors, and family offices. To explore our investment options or discuss potential partnership opportunities, please contact us directly.
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