Dakota began working with Hamlin Capital Management in 2009 and assisted in the launch of their Equity Income mutual fund in March 2012.
We're grateful for our relationship with Hamlin, and for the opportunity to help grow their Equity Income strategy assets from $80 million in 2009 to over $4.2 billion today — including over $1.6 billion in their mutual fund (as of 3.31.2026).
Visit Hamlin's website for more information, or visit Hamlin on Dakota Pages to view 75+ current and historical documents.
Hamlin Capital Management is an Equity Income and High-Yield Municipal Bond manager based in New York City. Founded in 2001 by Mark Stitzer, who serves as Managing Partner, Hamlin is 100% employee-owned by its six partners with a distinct focus on generating substantial income.
Their goal is to compound that income at attractive rates over time by generally investing in high-yield, unrated tax-exempt municipal bonds and high dividend-yielding equities.
The firm manages $8.7 billion in assets, $4.2 billion of which is invested in the Equity Income Strategy. The strategy is available via mutual fund and separately managed accounts. The Equity Income Strategy is a concentrated portfolio of high-quality companies that pay a generous and growing dividend, trading at a discount to Hamlin's proprietary valuation assessment. Portfolio holdings are vetted through an intense, bottom-up research process. The strategy is managed by a team of two Portfolio Managers and three Analysts.
*As of March 31, 2026
Philosophically, Hamlin believes a well-constructed portfolio should run like a good business — and a good business generates cash flow. The Hamlin Equity Income Strategy is a concentrated portfolio of 25 companies that meet the investment team's strict criteria.
The process looks for stocks generating a high current level of yield (1.5x – 2x the S&P 500 yield at purchase), a growing dividend stream with manageable debt, ample free cash flow, and attractive returns on equity. After a detailed fundamental review of the business and management, the team employs an extensive valuation assessment to identify fair value.
Staying disciplined to investing in quality businesses that meet Hamlin's strict criteria — while trading at an attractive valuation — is why the strategy is concentrated, sector- and market-cap-agnostic. The end result is a high active-share, differentiated portfolio that yields over 3.3% (as of 3.31.2026) with a high single-digit dividend growth rate over time.
The Hamlin Equity Income strategy is often found in income-oriented portfolios, but investors also use Hamlin as a core value manager. The portfolio has historically exhibited strong downside protection as the dividend has historically smoothed investor returns in down markets.
Hamlin doesn't compromise in their search for durable income streams to compound investor returns. A majority of the partners' liquid net worths are invested alongside their clients.
Hamlin is clear on the types of businesses they want to own and the management teams with which they want to align client capital. They look across sectors and company sizes for quality, yield, growth, and valuation. The portfolio's concentration reflects the team's effort to focus on companies with the best combination of these characteristics.
While Hamlin is categorized within the Equity Income universe, the underlying holdings look very different than peers. "Traditional" equity income managers tend to favor defensive sectors like Utilities, REITs, and Staples. Hamlin is agnostic to sectors and market caps — flexibility within their mandate to execute their process.
Reach out to Dan DiDomenico to learn more about Hamlin and to set up a conversation with a member of the Hamlin team.
Dakota partners with a select group of boutique investment managers across long-only equity, private alternatives, and private placement.
