Samuel Spencer Stewart Jr.
1942 - 2021
BORN
1942
DIED
2021
FUNERAL HOME
Larkin Mortuary - Salt Lake City
260 East South Temple
Salt Lake City, UT
Samuel Spencer Stewart Jr.

July 3, 1942 ~

November 23, 2021

Samuel Spencer Stewart, Jr. died the morning of November 23, as promised "at his desk" with a house full of family.

Sam was born in Salt Lake City, Utah on July 3, 1942, to Miriam Hardy and Samuel Spencer Stewart. His early childhood and summers were spent in Mount Pleasant, Utah. He attended Douglas Elementary, Roosevelt Jr High School, and East High School. He received a Bachelor of Science in Business Administration from Northwestern University as an Austin Scholar, served in the Central British Mission in England and Wales, and then went to Stanford University where he earned a combined MBA and PhD in Finance through the Sloan Program. He married Pamela Kimball in 1970 and was later divorced. In 1992 he married Diane Stewart and together they blended their families as well as having two of their own children, creating a large and beloved family. Diane has been his constant support and cheerleader, especially during his recent heart surgery, even as she has spent years urging him to slow down. They are known as an inseparable team within their community.

Sam was a professor of finance at Columbia University and a Financial Analyst at the SEC before returning to Utah to become a favorite professor of finance at the University of Utah until 2000. In 1975 he started his own company, Wasatch Advisors, and built it into a coveted employer locally, and a nationally recognized brand that put Salt Lake City on the map in the investment community. He was always a remarkably humble and kind leader. After 43 years he left Wasatch to partner with his sons, Josh, Spence, and son-in-law Eric, in founding Seven Canyons Advisors. Sam was widely respected in the investment and business community for his unique investment style, the intelligence he brought to research, his plainspokenness, and lifelong mentorship to young people who shared his passion. He valued and loved both the market and work in their own right, and felt blessed to feel indifferent to the money itself.

Together Diane and Sam became deeply invested in non-profit organizations and in supporting the arts in Utah. They have become giants in the community in a way that will forever change the landscape for organizations, museums, and artists.

Over the last 20 years Sam and Diane revived his childhood ranch in Mount Pleasant to full working order, including a beautiful home, grounds, and cabins. Working the land and structures became a passion they shared. Sam never tired of walking the landscape of his youth and bringing his family there to love the land too. One of his great joys was driving down to check on the water and meet brand new calves. He continued to walk the ditches, herd cattle, and move water up until last year.

Sam had a very personal and creative view of the stock market, politics, parenting, faith, and world events, and deeply enjoyed and encouraged that in others. His passion for his work was the throughline of his life and he wanted others to find that inner drive. He delighted when others excelled--especially in areas he felt were his weaknesses. He loved athletic prowess, music, a sense of humor, and the elegance and beauty Diane brought to their lives and homes.

Sam ran marathons into his 40's, played basketball into his 60's, boogie boarded into his 70's, and walked to work last week. He was a champion napper. He loved cities, central Utah sunrises, mild Palm Springs evenings, and the ocean. He loved good bread, chocolate cake, and almost burnt chocolate chip cookies and french fries. Above all he loved his family, taking great joy in his children and grandchildren. He was especially proud of Diane's work and accomplishments in the state and loved nothing more than to stand back and watch her shine. His happiness was easy and deep, he laughed heartily and lit up a room with his sparkling eyes and contagious smile.

Sam was actively working in his family company, checking in on his cattle, writing his personal history, endlessly working on his own personal and spiritual development, pushing forward in relationships, and traveling and exploring art and the world with his beloved wife. The energy of his emotional heart was boundless even as his physical heart wore down. It frustrated him each and every day that he could not do more. Yet, for us, his essence was as powerful as any of his many routines and activities.

Sam was preceded in death by his parents and his younger brothers, JB and Jim. He is survived by his wife Diane, his children Samantha (Justin Gallaher), Reagan, Jamie (Eric Moessing), Joshua (Caroline), Spencer, Clifton (LeAnn Harris), Andrew, Samuel Hardy, James Henry, and his grandchildren Audrey, Dan, Peter, Willy, Jack, Willa, Gigi, Sy, Clemmy, Lou, and Eleanor. He is also survived by his brother John Stewart. He would have also mentioned Zelma and Fariborz Naseri who have been as members of the family.

Sam's unfinished epilogue began: "Upon reflection, Mom was my hero. I wish I had realized that while she was still living and told her." He goes on to say that he picked up her "keep moving forward attitude and it has served me well." Amen. Our beloved Sam/dad/grandpa/partner/husband, we hope we told you and we will.

In lieu of flowers, please consider a donation to No Poor Among Us (npau.org) an organization the Stewart Family Foundation is committed to that supports education for disadvantaged women in Africa.

A memorial service will be held on Thursday, December 2, 2021, at Federal Heights Ward (1300 Fairfax Road, Salt Lake City, UT 84103). Visitation will begin at 12:00 pm. The service will begin at 1:00 pm. More information is available on the Larkin Mortuary website.

Published by The Salt Lake Tribune from Nov. 26 to Nov. 30, 2021.
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MEMORIAL EVENTS
Dec
2
Visitation
12:00p.m. - 1:00p.m.
Federal Heights Ward
1300 Fairfax Road, Salt Lake City, UT
Dec
2
Memorial service
1:00p.m.
Federal Heights Ward
1300 Fairfax Road, Salt Lake City, UT
Funeral services provided by:
Larkin Mortuary - Salt Lake City
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13 Entries
Marcy Brandenburg
Friend
January 3, 2022
Marcy Brandenburg
Friend
January 3, 2022
Marcy Brandenburg
Friend
January 3, 2022
I knew Sam and Jim since I was 17, Jim and I lived on the Ranch, growing hay, a small garden and bucking bales. He taught me how to work! After Jim passed in 1993, Sam always left his doors open for me and my family and friends to stay when we were in the area. Jim was a great historian and told me much about the Stewart Family. Joshua being killed in Viet Nam was never the plan and I know it broke Jim's heart on levels only another child can understand. Sam placed his parent's first one room house on the lower property and restored it like it had never been before. I'm sure Miriam would have giggled. Miriam loved all her boys, equally and without condition. Sam, Mt. Pleasant will live on forever in Jim's and Sam's, John's and JB's memory.
Marcy Brandenburg
Friend
January 3, 2022
Elsa and Dick Gary
December 1, 2021
I´ll be forever grateful that Sam asked me to work for him at Wasatch Advisors not once but two times. The first time was in 1978 when I was his student at the University of Utah. The second time was in 2002 when I called to ask him to be a reference after a 14-year maternity leave. Sam was an incredible employer. I was able to accomplish things I didn´t know I was capable of because Sam believed in me and thought I could. Thank you so much, Sam, for making Wasatch such a great place to work, learn, and retire from.
Cindy Boggess Firestone
Work
November 30, 2021
Earlier this month I could hear (what I thought) was Sam laughing in our office so I jumped from my desk to go track him down and see his big smile and hopefully capture the end of what I´m sure was a great story. Sadly it wasn´t him and even more sadly I didn´t reach out to tell him he was on my mind and that the thought of seeing him put a huge smile on my face. My deepest condolences go to the Stewart family; you were all kind enough to share your amazing father & husband with so many and I know that I am so blessed and will forever be grateful for the wisdom, kindness, friendship and mentoring that Sam shared with me the last 25+ years. I will always remember the moment he kindly and discreetly pulled me aside after a management meeting and told me that he could tell I had more to say. He told me I had a place at the table and that I had a voice; I was 22 and one of only a few females in the room. That moment changed the trajectory of my life & career and I will forever be grateful for the confidence he gave me at that moment. I´ll always remember his indifference to shoes, his inability to throw out moldy bread, his delight in burnt cookies & brownies, his love for being on the ranch and the pride he had in his family.
Amy Hone
Work
November 30, 2021
Sam was my dear friend from 1962. We shared many good times and lots of good heart to heart talks. My most sincere condolences to all his family loved ones. I shall miss him greatly.
Stan Smith:
Friend
November 29, 2021
Dear Sam & Family, I was lucky to cross path with Sam. He hired me at Wasatch. He gave me a chance even though I didn't have any experience and I had so many flaws. Sam became an incredible mentor to me and taught me so much. I remember he loved his Fresca + Pebble Ice, and when he played basketball with the young analysts they called him the 'brick wall'. He loved learning about new culture and had so much energy. Sam you will be truly missed and I owe you so much gratitude. Without your impact I wouldn't be where I am today. Thank you from the bottom of my heart. Thank you for giving some village girl out of now where a chance to learn and improve. You will forever be missed.
Amy S
Work
November 29, 2021
Your Utah Jazz Family
November 29, 2021
Dear Diane, Spencer, Josh, Reagan, and Family, it´s so sad for me to think that I´ll never be able to thank Sam for all that he did for me. My years working at Wasatch were wonderful and are treasured because of the culture and the team that Sam created. He positively impacted my life and the lives of so many. I can see him vividly now walking around the office smiling, in his stocking feet. I share in your sadness and I send my love and sympathy.
Amy R OReilly
Work
November 27, 2021
Dear Sam & Family, I can point to the distinct junctures in my life that were influenced by Sam & his family and say I've been the luckier/better person for Sam's influence. He always had a quick smile to share, a sincere interest in my well-being and a willingness to teach a new way to think to any who were fortunate enough to be around him. He was generous in so many ways, big and small. I once had a date fly me to Mt. Pleasant and we were going to walk to town for dinner. Sam had his pick up truck brought to the airport and made available so we didn't have to walk. Sam & Diane also made space for my mom to have a project after the passing of my stepdad (when she needed something to do). She was able to work with local artists and the art community to produce a lovely collection of art representing the Wasatch mountains. Thanks for the good times at Wasatch, the laughs in the hall and the passion for investing. You leave a big hole on the earth and look forward to hearing more stories in the days to come. All my gratitude, Amy J
Amy A Johnson
Work
November 26, 2021
I am so grateful for Sam. I remember my first week working at Wasatch when I met Sam he said, "I am Sam. I work in research." I didn't realize he was the head of the company! He was such a great employer and made sure that everyone was taken care of. He was very humble and very giving. Thank you so much for all you did for us Sam!
Katie Maudsley
November 26, 2021
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