Bristlecone Value Partners, LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$181,500,000
Clients
90
Advisors
3
of 3 employees
About
Bristlecone Value Partners provides discretionary investment advisory and asset management services to individuals, families, high‑net‑worth clients, trusts, charitable organizations, and other institutions. In addition to separately managed equity accounts and investment supervisory services, the firm acts as the general partner and investment manager of a private pooled microcap fund offered by private placement.
The firm predominantly follows value-oriented equity strategies and an investment supervisory approach that relies on fundamental analysis, intrinsic‑value estimates, and periodic rebalancing; mature portfolios are typically concentrated, often holding fewer than 40 names. For its pooled vehicle, Bristlecone targets microcap companies with below‑average market capitalizations, limited liquidity, and low institutional research coverage, and the fund is managed under a performance‑based compensation arrangement subject to qualification thresholds and a high‑water mark.
Distinctive aspects of the firm relative to peers include its role as a private fund adviser and its provision of portfolio management for pooled vehicles, along with the use of performance‑based fees for the fund — features that are uncommon among supported firms. The firm also discloses that custody of client assets arises principally from its GP role in the fund, has ended standing letters of authorization, and maintains written policies to address allocation, valuation, and other conflicts associated with side‑by‑side management.
Client services
Expertise
Fee options
$0 - $500,000: 1.00% $500,001 - $1,000,000: 0.85% $1,000,001 - $1,500,000: 0.70% $1,500,001 - $2,500,000: 0.50% $2,500,001 - $5,000,000: 0.30% $5,000,001+: 0.15%
For Bristlecone Microcap Fund LP: 20% of net profits over 6% annual hurdle rate with high-water mark
Account minimum: $500,000 Fee-only: Fee-only independent asset management firm
Main office
12301 Wilshire Boulevard, Suite 320
Los Angeles CA 90025
Advisors at this office
3
Most active in
California · Nebraska · New Hampshire · North Carolina · Oregon · Texas
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Quick links
Advisors at this firm
Jean Luc N
CFA®, Series 63, Series 65
Los Angeles, CA
Bristlecone Value Partners, LLC
Jean Luc Nouzille is a CFA® charterholder with 30 years of industry experience. He has been with Bristlecone Value Partners, LLC since 2004 and previously worked at Oppenheimer and CIBC World Markets Corp. The firm provides discretionary investment advisory and asset management services to individuals, families, high-net-worth clients, trusts, charitable organizations, and other institutions, focusing on value-oriented equity strategies and managing a private pooled microcap fund.
Josh G
CFA®
Los Angeles, CA
Bristlecone Value Partners, LLC
Josh Graybill is a CFA® charterholder and a financial advisor at Bristlecone Value Partners, LLC, with 15 years of industry experience. He has been with Bristlecone since 2004, totaling 22 years at the firm. Bristlecone Value Partners provides discretionary investment advisory and asset management services to individuals, families, high-net-worth clients, trusts, charitable organizations, and other institutions. The firm focuses on value-oriented equity strategies and manages a private pooled microcap fund, emphasizing fundamental analysis and intrinsic-value estimates in its portfolio management.
David F
CFA®, Series 63, Series 65
Los Angeles, CA
Bristlecone Value Partners, LLC
David Fleer is a CFA® charterholder with 26 years of industry experience. He has been with Bristlecone Value Partners, LLC since 2004 and previously worked at Oppenheimer and CIBC World Markets Corp. Outside of finance, he owns a restaurant and café in Los Angeles, where he handles bookkeeping duties. Bristlecone Value Partners, LLC provides discretionary investment advisory and asset management services to individuals, families, high-net-worth clients, trusts, charitable organizations, and institutions. The firm mainly employs value-oriented equity strategies with a focus on microcap companies and manages both separately managed accounts and a private pooled microcap fund using fundamental analysis and intrinsic-value estimates.
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