Granahan manages approximately $3.0 Billion in U.S. Small Caps. In the Focused Growth strategy I invest in companies I'd take if "stranded on a desert island" for many years. These companies have open-ended opportunities, sound business models, sustainable competitive advantages, strong financials, and superior management. Our investment process combines this company analysis with a rigorous valuation discipline centered on risk/reward and expected return--with particular emphasis placed on minimizing downside risk. The net result is a portfolio of attractively priced stocks of some of the most exciting and innovative companies in the economy. Below are the quarterly Commentaries & Snapshots for the strategy since 2011.