Oelschlager Investments

Oelschlager Investments is an SEC‑registered investment adviser that serves two primary client types: registered investment companies (the Towpath Focus Fund, TOWFX, and Towpath Technology Fund, TOWTX) and separately managed accounts (SMAs) for high‑net‑worth individuals, corporations, foundations and public plans. The firm discloses it manages the Towpath Funds as a separate series of the Mutual Shareholder Services, LLC series trust and reported roughly $93.3 million in discretionary assets under management as of December 31, 2025.

The firm’s investment process combines top‑down market and sector analysis with bottom‑up quantitative and qualitative stock selection, seeking concentrated, low‑turnover portfolios that typically hold 25–40 stocks and emphasize long‑term fundamentals. Oelschlager describes distinct All‑Cap Core and Technology strategies and notes it may place SMA assets into its Towpath Funds while excluding those Fund holdings from SMA fee calculations.

Distinctive aspects noted in the brochure include the firm’s formal role as adviser to registered investment companies alongside a small number of SMA clients and a general SMA guideline minimum of $1,000,000, which shapes the client base and account customization. The brochure also emphasizes the firm’s reliance on a principal portfolio manager and formal compliance controls (a written Code of Ethics and Access Person trading reviews), which are salient given the concentrated portfolios and limited client count.