Drexel Morgan & Co.
Drexel Morgan & Co. is a registered investment adviser and bank holding company headquartered in Radnor, Pennsylvania. The firm traces its origins back to the mid-1800s, with a storied lineage linked to Anthony J. Drexel and J.P. Morgan. The modern incarnation, led by George W. Connell, provides personalized investment management services, primarily serving high-net-worth individuals. With around $469 million in discretionary assets under management as of December 2024, the firm employs a small team of professionals and emphasizes a legacy approach rooted in client-focused wealth management.
Investment Strategy
Drexel Morgan & Co.'s core strategy, embodied in The Legacy Portfolio™, centers on fundamental analysis and the selection of large-capitalization, dividend-paying, primarily A+ rated U.S. stocks with strong balance sheets and a history of earnings growth. The firm prioritizes dividend growth as an indicator of long-term value, emphasizing consistent, high-quality companies. Their investment approach is individually tailored, with extensive consultations to understand each client's objectives, risk tolerance, and circumstances. Portfolio composition and asset allocation are determined accordingly, with investment strategies adapted to each client's needs. The firm highlights the inherent risks in securities investing, including market and foreign risk.
Top Holdings
Equity Positions (56)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
T T | AT&T INC | 21.19% | $119.3M | 4,123,320 | $19.38 | $28.94 | +$2.7M |
J JPM | JPMORGAN CHASE & CO. | 8.42% | $47.4M | 163,589 | $152.39 | $289.91 | +$19.6M |
C CLF | CLEVELAND-CLIFFS INC NEW | 7.42% | $41.8M | 5,499,075 | $11.41 | $7.60 | +$5.7M |
I IBM | INTERNATIONAL BUSINESS MACHS | 7.31% | $41.2M | 139,735 | $109.29 | $294.78 | +$6.4M |
J JNJ | JOHNSON & JOHNSON | 5.87% | $33.0M | 216,257 | $138.40 | $152.75 | -$2.8M |