A. Concise was formed in May 2004 by Thomas Krasner and Glenn Koach. It has been
an SEC-registered investment adviser since 2008. Concise’s principal owners are
Canepa Concise Holdings, LLC (“Canepa Concise”), the Krasner Trust and Yuko
Koach. Thomas Krasner is the sole trustee of the Krasner Trust. Canepa Concise
Holdings LLC is 100% owned by Heisenberg Global Partners, LLC, (“HGP”). HGP is
wholly owned by Canepa Global Managers SCS (“CGM”). CGM has several partners;
but no ultimate beneficiary owns a controlling interest.
B. Concise provides investment advisory services to high-net-worth individuals, families,
private investment funds and other institutions, including corporate pension and profit-
sharing plans, Taft-Hartley plans, charitable institutions, foundations, endowments,
municipalities, mutual funds, and trust programs. For more information about the
types of clients Concise advises, see Item 7.
Concise manages its client’s assets on a discretionary basis according to both long-only
and hedged strategies. As the portfolio managers of Concise, Thomas Krasner and
Glenn Koach provide a continuous evaluation of each client’s portfolio and direct the
purchase and sale of securities on behalf of clients. Concise specializes in fixed income
instruments and income-producing equity securities of privately and publicly held
companies,
though its focus is on shorter duration high yield domestic bonds. Concise
is opportunistic in allocating investments between various asset classes, depending on
market conditions and the relative attractiveness of different investment opportunities;
provided, however, that Concise’s investments on behalf of clients are subject to any
investment guidelines agreed upon by Concise and a client at the time of account
opening. Concise does not provide financial planning services.
C. Concise may tailor its advisory services to the individual needs of a client. At the time
a client opens an account with Concise, Concise may develop customized investment
objectives and risk tolerances for that client based on the client’s financial
circumstances and other factors. In addition, the client may impose restrictions on
Concise’s ability to invest in certain securities or types of securities. These tailored
advisory services are memorialized in the client’s written advisory agreement. As
Concise’s portfolio managers, Thomas Krasner and Glenn Koach monitor these
arrangements on an ongoing basis.
D. Concise does not participate in wrap fee programs.
E. As of December 31, 2023, Concise had approximately $526,375,131.00 in regulatory
assets under management. Concise manages all of its regulatory assets under
management on a discretionary basis.