ABOUT US
 

Lapides Asset Management was founded in June of 2005 by Steve Wilson, former Chief Investment Officer of the Capital Management Group of Reich & Tang, a New York City-based value investment manager. Steve has since been joined by a number of like-minded professionals who share his passion for Lapides' research-intensive investment process. We are committed to building a firm the same way we build our client portfolios - thoughtfully, over time, and from the bottom up.

We are value investors specializing in investing in the securities of smaller companies. By smaller we mean companies whose market capitalizations are defined as mid, small and micro. Our investable range is approximately $50 million to $10 billion in market capitalization at the time of initial purchase, which we then segment by product. Securities in the various funds may exceed or fall below these ranges as a result of appreciation or depreciation and will not necessarily be sold when outside the stated average market cap range.  At times, there may be add on purchases while the companies are outside the market cap range, but no initial purchase will be made in a company that is outside the market cap range.

For Separate Accounts, the specific market cap range is agreed upon by each client.  A Separate Account has the ability to opt-in at current prices, even if the companies exceed the market cap range.

We are a single strategy firm, offering one investment process segmented into Micro Cap, Concentrated, Small Cap and Small/Mid Cap products. Offerings are managed in commingled limited partnerships or separate accounts, depending upon account size and client preference.

Our proven approach to value investing focuses on high quality businesses that - for whatever reason - have disappointed shareholders, fallen out of favor, or become misunderstood. We believe our edge comes from our proprietary, in-depth research. Our unwavering commitment to our clients is to know our companies better than anyone else. Our research is global in nature - taking us around the world to better understand all aspects of the businesses of our portfolio investments.

Our ultimate goal is to capture unrecognized meaningful change in a company before that change is widely understood and appreciated - and certainly before it is priced into the company's shares. We sell when the market gets more enthusiastic than we are about a company's stock, often after a recovery in operating fundamentals and subsequent multiple expansion. In this way, equities we buy as value investments are often sold to growth-oriented investors, hopefully at much higher valuations.

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