PINNACLE ASSOCIATES LTD

Pinnacle Associates is an investment management company based out of New York. The company was established in 1984 and currently has locations in Aventura, Florida; Stamford, Connecticut; Lisle, Illinois; Melville, New York; Tarrytown, New York; and Red Bank, New Jersey. Pinnacle Associates currently has 49 employees of which 22 are investment professionals and is headed by President and CIO Thomas Passios. Pinnacle Associates is employee owned with Thomas Passios holding the highest ownership in the company. The company conducts its research internally, utilizing a macroeconomic fundamental methodology with bottom up and top down investment approaches. Pinnacle Associates invests in fixed income and public equity markets on a global scale, focusing on the core and growth stocks of companies. The company invests most heavily in the consumer discretionary sector, which alone makes up over a fifth of its total asset allocations, and also invests in the information technology, health care, finance, industrials, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation. Pinnacle Associates currently holds over $6.4 billion in total assets under management spread across almost 4,000 accounts, all of which are discretionary. Although the company’s total number of accounts has been somewhat volatile in recent years, decreasing to as low as 3,000 a year ago, its total assets under management has increased, growing from $3.4 billion back in 2010 to almost twice that amount today. Pinnacle Associates mainly caters to individuals, which alone makes up almost half of its entire client base, and also provides its services to high net worth individuals, investment advisors, state or municipal government entities, corporations, pooled investment vehicles, charitable organizations, pension and profit sharing plans, banking or thrift institutions, and insurance companies, in order of decreasing clientele. The company’s line of strategies currently includes All Cap Equity, Small/Mid Cap Equity, Large Cap Equity, International, International Small Cap, and Global Equity Products.