Overview
Pacifica Capital Investments, LLC (“PCI” and/or “the Company”) is a Colorado limited liability
company principally owned by Steve Leonard and Kari Lambert. Steve Leonard formed PCI in
1998 and has served as its managing member since that time.
Advisory Services Offered
Individually Managed Accounts
PCI provides investment advisory services to individuals (including high net worth individuals),
pension and profit sharing plans, charitable organizations, and corporations. The Company’s
investment advisory services primarily are with respect to:
Equity securities traded on national securities exchanges (generally the New York and
American Stock Exchanges) and the NASDAQ Stock Market; and
On occasion, non-listed securities.
PCI focuses on businesses and industries in which it tries to have a thorough understanding, and
limits the number of positions in an account to typically less than 15. PCI’s investment strategy is
to concentrate investments in specific industries and companies in which PCI strives to have
both in-depth knowledge and confidence in their future results. This focused investment
approach may result in more volatility and risk in portfolios.
Client accounts generally are managed in a similar manner, but PCI tailors its advisory services to
the individual needs of clients by considering such factors as the type of account (i.e., taxable vs.
not taxable) and specifics provided by the client. Clients may impose reasonable restrictions on
investing in certain securities or types of securities, such as by industry or based on social
criteria.
In addition, PCI participates in the Independently Managed
Advisory Program (“IMA”) offered by
Wedbush Morgan Securities, Inc. PCI provides investment management services to client
accounts participating in the IMA program, and receives fees from such clients as discussed
below in Item 5 “Fees and Compensation.” PCI manages its IMA account clients in the same
manner it manages other individual client accounts. Currently, PCI is no longer offering this
service to clients, other than those who are already in the IMA.
Private Funds and Investment Ventures
PCI, Steven Leonard, Kari Lambert, and/or other related persons of PCI also serve as manager or
partner of a number of single purpose limited liability companies: Pacifica Capital Stacked, LLC;
Pacifica Real Estate I, LLC; Pacifica Real Estate II, LLC; Pacifica Real Estate III, LLC; Pacifica Real
Estate IV, LLC, Pacifica Real Estate V, LLC; RAF Pacifica Group – Development Fund I, LLC; RAF
Pacifica Group –Real Estate Fund II LLC; RAF Pacifica Group - Real Estate Fund III, LLC; RAF
Pacifica Group – Real Estate Fund IV, LLC; RAF Pacifica Loan Fund I, LLC; RAF Pacifica Group –
Real Estate Fund VI, LLC; Pacifica Real Estate Santa Barbara Fund I, LLC; Pacifica Seattle Fund I,
LLC, and Pacifica Real Estate Senior Living Fund I, LLC (each referred to herein as an “Investment
Venture”). PCI provides services to such Investment Venture in accordance with each such
Investment Venture’s operating documents.
Client Assets Under Management
As of December 31, 2023, PCI managed approximately $602,021,362 on a discretionary basis,
including Leonard and Lambert family accounts. PCI does not manage client assets on a
nondiscretionary basis.