H. L. Lichstrahl & Company, LLC

The firm provides discretionary investment management to individuals, high‑net‑worth clients, associated trusts and estates, IRAs, and certain pension and profit‑sharing plans and other legal entities. It does not offer financial planning and focuses its client relationships on portfolio management services.

The investment approach centers on long‑term, value‑oriented equity investing informed by fundamental research to identify securities trading below intrinsic value; portfolios may include domestic and international equities, U.S. government, municipal and corporate debt, warrants, options, and mutual funds, and the manager may hold significant cash when suitable opportunities are not found. The strategy is generally low turnover and concentrated, though the firm may pursue more active value opportunities such as risk arbitrage, spin‑offs, and bankruptcy situations, and will consider client‑directed restrictions for philosophical reasons.

What is distinctive about the firm is that, while operating as a small, single‑advisor independent firm with a concentrated client roster, it also provides portfolio management to pension/profit‑sharing plans and institutional clients — client types that are relatively uncommon among peers. The firm further employs prime broker arrangements to source non‑exchange‑listed securities (prime broker participation requires an account minimum net worth of $110,000) and maintains a written proxy‑voting policy that generally abstains on shareholder activism unless there is a material economic impact.