Oppenheimer + Close, LLC

Oppenheimer + Close, LLC and Oppvest LLC are affiliated registered investment advisers managed by the same individuals. The firms were founded in 1984 and offer advisory services for individually managed accounts focusing on "value" investing with a long-term horizon. They primarily invest in exchange-listed or over-the-counter equity securities, both domestic and foreign, and may also utilize insured bank deposits and short-term Treasury issues. Clients' portfolios are tailored to their needs, with similar holdings adjusted based on factors like liquidity needs and risk tolerance. The firms manage three limited partnerships, each with a specific investment focus. Fees for individually managed accounts are based on assets under management, with a quarterly fee of 0.25% on debt and equity and 0.125% on cash. Performance fees may apply to certain accounts. The firms do not participate in wrap fee programs and may charge hourly rates in specific cases. Assets under management as of December 31, 2022, were $208,200,000. Clients' assets are custodied at Pershing, LLC, and virtually all client assets are managed on a discretionary basis. The firms do not participate in insurance sales, annuities, or commodity transactions. Investment strategies focus on long-term equity investments with a value-oriented approach, avoiding leverage and options. The firms conduct thorough research using various sources and engage in company visits and conference calls. Clients are advised of the risks involved, including market fluctuations and company-specific risks. The firms disclose potential conflicts of interest related to performance-based fees and pooled investment vehicles. The brochure also addresses the impact of public-health crises on client investments.