Overview
Capco was formed in December, 2002. Its principal owners and Managers are Will Harrell and Chris
Harrell. A minority ownership interest is held by Paul Lind, a Member of the firm. A minority ownership
interest is also held by an investor that is not actively involved in managing the firm. Each such person’s
ownership is indirect, through entities they control.
Capco provides discretionary investment management to individuals and entities through (1) separate,
client-owned accounts and (2) Capco Partners, Ltd., an investment limited partnership of which Capco
Asset Management is the General Partner.
In late 2021, Capco announced a “soft close” of the partnership. While we have discretion to accept new
partners, and existing partners may continue to add to their interests, we expect that virtually all future
clients will join us through separate accounts.
Capco primarily makes concentrated investments in public equities on the basis of business quality,
management quality and price. Capco’s investment philosophy
is discussed at greater length in its
Statement of Investment Philosophy, which is available upon request. It is also articulated from time to
time in letters to clients, which are available upon appropriate inquiry. See also Item 8. Reference to these
items is not intended to incorporate them in this filing.
We generally do not tailor our services to the individual needs of clients (though from time to time there
are differences in the circumstances or handling of particular individual accounts, such as cash flows or
position weights). Our clients generally do not impose restrictions on our investing. Clients are
responsible for determining the portion of their investable assets to allocate to Capco’s management.
Capco does not participate in wrap fee programs.
As of 2/29/24, Capco’s assets under management were approximately $ 433 million. The amount it
managed on a discretionary basis was approximately $ 432 million, and the amount it managed on a non-
discretionary basis was approximately $ 1 million.