Sapphire Star Capital LLC

Sapphire Star Capital LLC, established in February 2015, offers sub-advisory and investment advisory services on a discretionary and non-discretionary basis. The firm manages assets for advisory clients using internally managed portfolios, sub-advisory relationships, model portfolio management, and alternative investments. Sapphire Star Capital specializes in strategies such as Small Cap, Covered Call, and Mid Cap, among others. The firm participates in Wrap Fee Programs, where clients pay an all-inclusive fee covering management and brokerage fees. As of December 31, 2024, the firm's total regulatory assets under management were approximately $143.7 million. Sapphire Star Capital provides investment advice to private funds like Sapphire Star Partners L.P. and Sapphire Star Partners Concentrated Stock L.P. The firm may recommend the purchase of interests in these funds to qualified investors. Clients have limited withdrawal rights from these funds, subject to specific conditions. The firm charges management fees based on the value of client accounts, with performance-based fees negotiated on a case-by-case basis. Sapphire Star Capital acts as a fiduciary to its clients and does not compensate third parties for client referrals. The firm exercises investment discretion over client accounts and participates in voting client securities. The Chief Compliance Officer oversees the firm's activities and ensures compliance with regulations. Michael J. Borgen, the Chief Investment Officer, has a background in finance and economics and extensive experience in portfolio management. He founded Sapphire Star Capital and has a history of managing various investment strategies. No disciplinary events involving Mr. Borgen have been reported. The firm's custody of client funds and securities is maintained by qualified custodians, and client reports are provided upon request. Sapphire Star Capital has adopted a Code of Ethics and Proxy Voting Policy to ensure ethical conduct and transparency in its operations.