Overview
Firm Description
Provident Investment Management, Inc. is a money management firm founded
in 1981. We specialize in managing portfolios of individual securities that we
have researched ourselves. Our goal is the growth of client portfolios and
improved investment performance. We aim to “beat the market.” Investments
may include: growth equities (stocks), dividend equities, corporate debt
securities, municipal securities, mutual funds, exchange-traded funds (ETFs)
and U.S. government securities.
Growth stock portfolios are structured to emphasize companies with above-
average long-term earnings growth potential, while attempting to keep risk
commensurate with the overall stock market. Dividend equities prioritize return
of capital to shareholders through dividends, share buybacks, and debt
reduction. Fixed income investments are utilized as necessary to meet client
needs for income or a lower risk profile. Pursuing these goals limits the degree
to which a stock portfolio is tailored to each client.
Prospective clients of Provident Investment Management will be offered a
complimentary discussion and broad review of their personal circumstances in
order to understand whether our firm is an appropriate fit for them. Together
with the client, we will determine the investment objectives that govern the
assets we
are to manage. Upon establishing a new client relationship, we will
review the securities entrusted to our management and make such changes as
we deem appropriate in keeping with client objectives.
We review accounts on a continuous basis and make such changes as we judge
desirable on a discretionary basis, unless otherwise agreed to with the client.
Clients have the right to place reasonable restrictions on the management of
their accounts (e.g., no manufacturers of tobacco or alcohol).
We write articles and reports about investments that are featured in unaffiliated
publications. Provident is compensated for this work.
Provident recommends a large national brokerage firm as custodian of client
assets, but Provident itself does not act as custodian. Clients always maintain
control over their own accounts. Provident manages client portfolios under a
limited power of attorney that does not include the power to withdraw funds.
As of December 31, 2023, Provident Investment Management managed
approximately $1,088 billion in assets for 360 clients. Approximately $995
million is managed on a discretionary basis, and $93 million is managed on a
non-discretionary basis.
Principal Owners
Provident Investment Management, Inc. is organized as a Corporation. Scott
Horsburgh, Daniel Boyle, Miles Putnam, and James Skubik are its only
shareholders.