The firm's $1.7 billion Large Cap Growth Fund , with some of the biggest technology names among its top holdings, lost 24.3% in 2022. 'Rigor and process' Kantor and Regenbaum have spent years managing the fund by taking a magnifying glass to the inner plumbing of some of the biggest growth stocks. Indeed, Morningstar says the fund's portfolio has a lower price-to-book-value than other large cap growth funds or Morningstar's benchmark index for the group, and faster book value growth. There were "crazy growth companies that went to the moon," Kantor said, "and then unfortunately at some point had to return to Earth." Investors are at an important moment given the Federal Reserve's campaign to rein in inflation by hiking interest rates, and the interest-rate sensitive nature of growth stocks.

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