Hart's investing strategy has been virtually unchanged in her 15 years managing the $21.9 billion JPMorgan Equity Income Fund.
She has always screened prospects for three main attributes: quality companies with a reasonable valuation that pay at least a 2% dividend yield.
Her refusal to waver on these three requirements has been met with pushback over the years — and she has stood by each of them even when the market demanded otherwise.
The defense for quality is almost a no-brainer: If a company is on track to go bankrupt, that's not a stock she wants to own.
On valuation, she looks for cheap stocks, but not the cheapest.
"I was investing during the tech bubble, the telecom bubble after, and the financial crisis," Hart told Business Insider. "I have seen cheap get cheaper, and cheap can get to zero if things go away."
She has also resisted pressure to increase the 2% yield requirement because doing so would raise the risk of buying overvalued stocks. Even when Apple prepared to announce its highly anticipated dividend in 2012, she did not buy the stock until she could confirm the yield met her requirement. While waiting, investors sold Apple shares to fund Facebook's initial public offering. It turned out to be a double win: a cheaper price and a satisfactory dividend yield.
Financial services companies make up the largest chunk of her portfolio, and they include a smorgasbord of asset managers, insurers, and regional banks.
1-year return: 5.47%
Biggest company holdings (as of 3/31): Merck, Chevron, Bank of America, Microsoft, and CME Group.
Investing advice: "Find the smart people, work with the smart people," Hart said.
She continued: "Don't be afraid of the people who tell you things you don't want to hear about your stocks. You want to talk to those people.
"For women, I think this industry is a good fit because if someone wants to be biased against you, it's harder if you really have a track record, you have numbers, you have performance, and you can show you know what you're doing," Hart said.