The Hennesy Focus Fund (HFCIX) seeks to own companies that are competitively advantaged, exceptionally managed businesses with large growth opportunities and the potential to create outsized value over the next decade or longer. "Markel Corporation (MKL) has generated returns in the low to mid-teens for many decades because of their strong and disciplined underwriting culture and excellent and private and public equity returns," says David Rainey. Next, he discusses Encore Capital Group (ECPG) and states that the company has one of the strongest balance sheets in the industry, low borrowing costs, and one of the most efficient collections platforms.