Overview
General Description of Advisory Firm
Paragon Associates, Ltd., a Texas limited partnership, was founded by Bradbury Dyer, III
in 1972. A second limited partnership, Paragon Associates II, Ltd., was formed by Dyer in
1984. A third limited partnership, Paragon Associates III, Ltd., was formed on January 1,
2015. Together, the three limited partnerships (“the Partnerships”), which specialize in
equity investments, are operated jointly as Paragon Associates and Paragon Associates
II Joint Venture (“PAJV”).
The general partner of the Partnerships and investment adviser to PAJV is Paragon JV
Partners, LLC (“PJVP”), a Texas limited liability company, of which Mr. Dyer is the sole
member and owner. Mr. Dyer is also a limited partner of Paragon Associates, Ltd. and
Paragon Associates II, Ltd.
For compliance purposes, the books and records of PAJV are books and records of PJVP,
and the employees of PAJV are considered supervised persons of PJVP. Thus,
references in this brochure to “employees” of PJVP mean the employees of PAJV as
supervised persons of PJVP.
Description of Advisory Services
PJVP serves as investment adviser with respect
to PAJV and is responsible for investing
and re-investing the assets of PAJV in securities, financial instruments and/or other assets
in accordance with the investment objectives, policies and guidelines set forth in its
applicable governing documents.
The governing agreements between PJVP and PAJV do not contain any significant
limitations on the types of investments PJVP may make. PJVP, in its sole discretion,
employs such investment and trading strategies and methods as it determines to adopt.
See Item 8 below.
Availability of Customized Services for Individual Clients
PJVP advises a single client, PAJV. PJVP does not provide customized investment
advisory services to individual limited partners of the underlying Partnerships. Limited
partners generally are not permitted to impose restrictions on investments in certain
securities or types of securities.
Wrap Fee Programs
PJVP does not participate in a wrap fee program.
Assets Under Management
Estimated assets under management as of December 31, 2023, were approximately
$149,790,000. These assets were managed on a discretionary basis.