Hayek Kallen Investment Management L.l.c.

Hayek Kallen Investment Management LLC, established in 1985 by Fred Hayek in Fairhope, Alabama, offers investment and wealth management services to individuals and small institutions, focusing on a balanced-value investment approach. The firm's principal owner, Eric Kallen, leads portfolio management and security analysis. With $396 million under management as of March 26, 2023, all accounts are managed on a discretionary basis. Clients are typically billed quarterly based on a percentage-of-assets fee structure, with a minimum investment of $500,000. The firm primarily invests in individual stocks and bonds, aiming to provide stability and income through a 50/50 or 60/40 equity/bond asset allocation strategy. Hayek Kallen does not use performance-based fees and serves individuals, families, small organizations, and non-profits. The firm's investment philosophy involves a qualitative and quantitative analysis to identify undervalued companies for long-term investment. Clients maintain custody of their funds and securities at Charles Schwab or Fidelity, with the firm having investment discretion over client accounts based on agreed-upon Investment Policies. The firm's employees adhere to a Code of Ethics and act as ERISA fiduciaries when providing retirement account advice. Hayek Kallen does not participate in referral programs and has no disciplinary events to report.