Herges Capital Management

Herges Capital provides discretionary portfolio management to private clients, including high‑net‑worth individuals and trusts, across individual and joint taxable accounts, self‑directed 401(k)s, and tax‑advantaged retirement accounts. Accounts are managed on a discretionary basis with clients typically granting a limited power of attorney and receiving quarterly reports from independent custodians.

The firm emphasizes a low‑cost, tax‑efficient, long‑only approach that favors direct holdings of carefully selected individual stocks and bonds over third‑party mutual funds, with limited use of low‑cost ETFs. Herges Capital applies quantitative selection methods, seeks efficient tax‑loss harvesting, avoids leveraged and short positions, and operates a risk‑weighted commodity ETF sleeve; it is also registered as a Commodity Trading Advisor for managed futures activity.

Noteworthy features include its dual registration as both an investment adviser and a Commodity Trading Advisor, its small scale (two advisors managing about $25.9 million for roughly 32 clients), and the principals’ quantitative, Ph.D.‑level backgrounds. The firm’s explicit ethical exclusion criteria for stock selection (e.g., excluding defense, tobacco, alcohol, and sugary‑drinks companies), aggregated trade execution, and emphasis on risk‑weighted commodity allocation distinguish its process from more conventional, capital‑weighted strategies.