Overview
General Information
West Elk, a Delaware limited liability company, was formed in September 2017.
West Elk Fund Investment Advisory Services
West Elk provides investment advisory services to West Elk Partners, LP, a private investment
vehicle (the “Fund”). The Fund is exempt from registration under the Investment Company Act of
1940, as amended (the “1940 Act”), and the Fund’s securities are not registered under the Securities
Act of 1933, as amended (the “Securities Act”). As the investment adviser of the Fund, West Elk, along
with West Elk, LLC, the Fund’s general partner (the “General Partner”), identifies investment
opportunities for, and participates in the acquisition, management, monitoring and disposition of
investments of, the Fund.
West Elk seeks to achieve capital appreciation and generate high absolute returns over the long term,
while limiting the risk of permanent loss of capital. In managing the Fund, West Elk seeks to make
long-term investments in a select portfolio of undervalued small and micro-cap public companies,
and to a lesser extent, private companies. West Elk may from time to time recommend other types of
investments consistent with the Fund’s investment strategy and objectives, as set forth in its offering
documents.
West Elk provides investment advisory services to the Fund pursuant to the terms of a separate
Investment Management Agreement with the Fund (the “Fund Agreement”). Pursuant
to the Fund
Agreement, in carrying out and implementing the investment objectives and strategies of the Fund,
West Elk will have full and exclusive discretion to supervise, manage, and direct the Fund’s assets
with power and authority as the Fund’s agent and attorney-in-fact to purchase, sell, invest, reinvest,
exchange, convert, and trade the Fund’s assets with or through brokers, dealers, or issuers selected
by West Elk at such times as West Elk deems appropriate without prior consultation with the Fund.
Investment advice is provided by West Elk directly to the Fund, subject to the direction and control
of the General Partner and not individually to the investors in the Fund. Any restrictions on
investments in certain types of securities are established by the General Partner of the Fund and are
set forth in the documentation received by each limited partner prior to investment in the Fund. Once
invested in the Fund, investors cannot impose restrictions on the types of securities in which the
Fund may invest. Currently there are no restrictions on the types of securities in which the Fund may
invest.
Principal Owners
Jason Joffe and Morgan Duke are the principal owners of West Elk.
Type and Value of Assets Currently Managed
All of West Elk’s investment advisory services are provided on a discretionary basis. As of December
31, 2023, West Elk had $80,055,952 in regulatory assets under management.