Poplar Forest Capital

What Poplar Forest Capital does

Poplar Forest Capital is a private investment management firm headquartered in Pasadena, California, operating as a subsidiary of Tocqueville Asset Management following a 2019 acquisition that contributed $1.3 billion in assets under management. The firm runs two U.S.-focused mutual funds under the Poplar Forest Funds brand: the Poplar Forest Partners Fund (established December 31, 2009), a flagship contrarian value fund investing in under-appreciated large and medium-sized companies through a concentrated 25-35 stock portfolio built independently of S&P 500 sector weightings, and the Poplar Forest Cornerstone Fund (established December 31, 2014), a balanced fund of U.S. equity and debt securities targeting long-term capital growth with lower volatility than an all-equity portfolio. Both funds report a 97% Active Share score as of March 31, 2026, indicating high portfolio independence from benchmark indices.

The firm generates revenue through asset-based management fees on AUM. Tocqueville Asset Management, LLC serves as the investment adviser making portfolio decisions, while Quasar Distributors, LLC acts as the principal distributor handling broker-dealer and RIA channel relationships. Funds are offered only to U.S. residents via the poplarforestfunds.com website and intermediary networks, targeting long-term individual and institutional investors seeking differentiated active returns to complement core portfolio holdings. The core technology is the proprietary contrarian value investment methodology itself; there is no disclosed AI, software platform, or technology stack beyond standard fund operations and regulatory infrastructure.

Name

Poplar Forest Capital

Legal name

Poplar Forest Capital

Website

https://poplarforestllc.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Poplar Forest Capital is a private Pasadena-based investment management firm running two U.S.-focused mutual funds (Partners and Cornerstone) under a contrarian value strategy. It operates as a subsidiary of Tocqueville Asset Management, distributing through Quasar Distributors to long-term U.S. investors.

Ownership category

akta.pro rank

Product category

Active Mutual Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Open-End Investment Funds (52591)

SIC

Investment Advice (6282)

akta.pro primary industry

Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG)

Keywords

• Mutual fund management
• Contrarian value investing
• Active equity funds
• Asset management services
• Balanced fund products

Headquarters

HQ city

Pasadena

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Asset Management Fees: The funds generate revenue through asset-based management fees charged on total assets under management. Tocqueville Asset Management, LLC serves as the investment adviser to the Poplar Forest Funds.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Poplar Forest Capital manages two U.S.-focused mutual funds—the Poplar Forest Partners Fund (a concentrated, contrarian value equity fund of 25-35 stocks) and the Poplar Forest Cornerstone Fund (a balanced fund combining U.S. equities and debt securities). Both funds pursue long-term capital growth by investing in under-appreciated large and medium-sized companies, with each maintaining a 97% Active Share score indicating high portfolio independence from benchmarks. The funds are advised by Tocqueville Asset Management, LLC and distributed by Quasar Distributors, LLC.

Product overview

Poplar Forest Capital offers two mutual funds through its Poplar Forest Funds platform: the Poplar Forest Partners Fund (established December 31, 2009), a flagship U.S. focused contrarian value fund investing in under-appreciated large and medium-sized companies, and the Poplar Forest Cornerstone Fund (established December 31, 2014), a balanced fund combining U.S. equity and debt securities for capital growth and preservation. Both funds maintain high Active Share scores of 97%, indicating strong independence from benchmark index holdings. The funds are managed by Tocqueville Asset Management, LLC and distributed by Quasar Distributors, LLC.

Differentiator

Problem solved

Functional benefit

Products and services

• Poplar Forest Partners Fund A U.S. focused contrarian value mutual fund designed to complement a core portfolio holding for long-term investors. The fund seeks long-term growth of capital by investing primarily in equity securities of under-appreciated large and medium-sized companies and industries. It is a concentrated portfolio of 25 to 35 stocks built without regard to the market cap or sector weightings of the S&P 500.
• Poplar Forest Cornerstone Fund A balanced mutual fund of U.S. focused equity and debt securities suitable for long-term investors who seek a combination of both capital growth and preservation with less volatility than would generally be inherent in an all-equity account.

Quantifiable outcome

• 97% Active Share score indicates high portfolio independence from benchmark indices
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Quasar Distributors, LLCcoreChannel Partner/ Reseller/ DistributorQuasar Distributors, LLC distributes the Poplar Forest Funds as the principal underwriter and distributor. The firm handles all fund distribution activities through the broker-dealer network.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Tweedy, Browne Company: Tweedy, Browne is a long-tenured contrarian value investment manager offering mutual funds (Global Value, International Value, Value) focused on under-appreciated companies with a benchmark-agnostic approach. It mirrors Poplar Forest's contrarian value philosophy, U.S.-listed bias, and concentration in highest-conviction ideas.
• Yacktman Asset Management: Yacktman runs concentrated, contrarian, value-tilted U.S. equity mutual funds (Yacktman Focused, Yacktman Fund) with a long-term, low-turnover approach. Highly comparable to Poplar Forest's concentrated, benchmark-independent Partners strategy.
• Third Avenue Management: Third Avenue is a value-oriented mutual fund manager historically known for deep-value, concentrated equity strategies (Third Avenue Value, Focused). Directly comparable in approach to Poplar Forest's under-appreciated, concentrated contrarian value process.
• Ariel Investments: Ariel offers actively managed U.S. equity mutual funds (Ariel Fund, Ariel Appreciation) using a long-term, contrarian, value-oriented process targeting under-appreciated mid- and large-cap names. Closely aligned with Poplar Forest's contrarian U.S. value mandate and intermediary distribution model.
• Royce Investment Partners: Royce specializes in active small- and mid-cap value mutual funds distributed through advisors, with concentrated portfolios of out-of-favor names. Directly comparable to Poplar Forest in target market, vehicle type, and contrarian value methodology.
• Hennessy Funds: Hennessy Advisors manages a suite of U.S. equity mutual funds emphasizing value, dividend, and contrarian methodologies distributed via advisors. Comparable distribution model and active U.S. equity product set to Poplar Forest's two-fund lineup.
• Heartland Advisors: Heartland Advisors offers actively managed U.S. mid-cap value mutual funds (Heartland Value, Value Plus) distributed through intermediaries using a contrarian, fundamentals-driven process. Directly comparable active value fund family.

Broad incumbents

• Tocqueville Asset Management: Tocqueville is the parent investment adviser that absorbed Poplar Forest in 2019, adding $1.3B AUM. Tocqueville runs a broader suite of mutual funds and SMAs under its own brand. Comparable as the parent adviser with shared product type (active U.S. mutual funds) and overlapping distribution.
• Dimensional Fund Advisors: DFA is a large, established asset manager offering value-tilted, active (rules-based) U.S. and global funds distributed through advisors. Comparable advisor channel and value orientation, but at much greater scale and via an index-anchored approach rather than concentrated stock-picking.
• Calamos Asset Management: Calamos is an established, multi-product active manager offering U.S. equity, balanced, and convertible mutual funds distributed through intermediaries. Comparable active mutual fund product set and advisor distribution, with a broader product range and higher brand recognition than Poplar Forest.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/poplar-forest-capital-llc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Poplar Forest Capital