# Congress Asset Management Company

Congress Asset Management Company is an Asset Manager based in Boston, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Boston, United States
- **Region:** North America
- **Address:** Boston, MA, United States
- **Founded:** 1985
- **Assets under management:** $23.2BN
- **Website:** congressasset.com
- **LinkedIn:** https://www.linkedin.com/company/congress-asset-management-company

## Regulatory record

- **CRD number:** 105161
- **SEC file number:** 801-23386
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/105161

## About

Congress is a privately owned boutique asset management firm built for investors seeking quality equity and fixed income strategies. It is a style pure investment manager dedicated to investing in established companies to help clients grow capital over the long term. The firm constructs quality portfolios with an emphasis on style purity and offers equity and fixed income strategies across investment vehicles and structures.

## Sectors

- Enterprise Software
- Financials
- Healthcare Services
- Industrial Tech

## Offices

- Portsmouth, NH

## People

- Paul W. Zettl — Chairman
- Lagan N. Srivastava — CEO
- Gregg O'Keefe — President & CIO

## Questions

### Who runs investment decisions at Congress Asset Management?

Gregg O'Keefe serves as President and Chief Investment Officer, a role he has held since 2010 (per the firm's official communications). He leads a co-located team of portfolio managers and analysts in Boston who operate under a centralized research and decision-making structure. All strategies follow the same fundamental equity process, with position sizing and sector weights determined by analyst conviction rather than benchmark constraints. Paul Zettl, the firm's Chairman and founder, remains involved in strategic oversight.

### How does Congress Asset Management source investment ideas?

The firm relies on proprietary fundamental research rather than Wall Street consensus. Analysts screen for companies with high and sustainable returns on invested capital, durable competitive moats, and management teams with disciplined capital-allocation histories. Ideas are stress-tested through direct company engagement and forensic accounting review—the team historically conducts hundreds of management meetings annually. The research process filters for earnings quality, avoiding companies where reported growth masks deteriorating underlying economics.

### Does Congress Asset Management run separate accounts or pooled vehicles?

The firm operates primarily through institutional separate accounts and intermediary-distributed managed-account platforms. This structure gives clients direct ownership of underlying securities and the ability to customize guidelines, tax management, and exclusion screens. While the firm maintains a limited number of pooled vehicles for smaller investors, its deliberate capacity discipline and concentrated strategy design favor the separate-account model.

### Is Congress Asset Management employee-owned?

Yes. The firm is independently owned by its senior investment professionals and operating executives, with no parent company, insurance balance sheet, or multi-affiliate holding structure. This governance model has allowed the investment team to maintain strategy capacity limits and avoid the product-proliferation pressures that often dilute focus at larger asset-gathering platforms. Ownership stakes are held by key portfolio managers and research staff, aligning their economic interests with long-term client outcomes.

### Which sectors does Congress Asset Management typically avoid?

The firm tends to underweight or exclude capital-intensive cyclical sectors—materials, energy, and traditional heavy industrials—where sustainable competitive advantages are harder to identify and returns on capital are structurally lower. It also historically avoids highly regulated utilities and telecoms, preferring technology, healthcare, and financial-services businesses where management decisions more directly drive compounding outcomes. The explicit avoidance of commodity-exposed sectors is a structural feature of the earnings-quality screen rather than a tactical call.

### How has the leadership transition at Congress Asset Management evolved?

In January 2021, Lagan Srivastava was appointed CEO, assuming operational and business-management responsibilities (per the firm, January 2021). Gregg O'Keefe retained the President and CIO titles, preserving continuity in the investment function. Paul Zettl, who founded the firm in 1985, continues as Chairman. This separation of investment leadership from firm operations is a deliberate architecture choice that protects the research team from administrative distraction while allowing the CEO to focus on distribution, talent, and infrastructure.

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Last updated: 2026-08-11T15:06:27.647Z

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