Craig-Hallum

Craig-Hallum is not an allocator or fund manager—it is a broker-dealer and investment bank. Investment banking mandates are led by sector heads reporting to President Mike Malouf and CEO Bradley Baker. Institutional equity research and trading decisions fall under Kevin Harris and Director of Research George Sutton. The firm does not deploy proprietary capital in a traditional investment committee structure.

Craig-Hallum's deal flow is principally research-driven. Its equity analysts maintain active coverage on over 800 companies, the vast majority small- and mid-cap names with limited sell-side attention. Investment banking teams originate mandates from within this research universe, approaching companies whose equity stories the firm's institutional sales force is already distributing to buy-side clients. This closed loop—research coverage feeding into deal origination—is the firm's core sourcing mechanism.

No. Craig-Hallum does not manage pooled funds, separate accounts, or a family office platform. It is entirely a sell-side institution generating revenue through brokerage commissions, investment banking fees, and research payments. Any family office engaging the firm would do so as an institutional trading counterparty or as a client of its capital markets and advisory services.

The firm's research department covers over 800 names—a scale unusual for a middle-market bank—and its traders actively market-make in many of those same securities. Few competitors maintain simultaneous commitments to proprietary small-cap equity research, institutional sales and trading, and full-scope investment banking. This cross-subsidized model allows Craig-Hallum to underwrite smaller deals that larger banks cannot justify and trade names that pure-play research boutiques would not support with capital.

The firm's research coverage concentrates on technology, healthcare, consumer, and industrial growth companies. Within technology, covered sub-sectors include enterprise software, cybersecurity, semiconductors, AI/ML infrastructure, and industrial technology. The banking franchise has recently added resources in software and internet infrastructure, signaling deepening coverage of those verticals specifically.

Bradley Baker and a cohort of institutional equities traders founded the firm in Minneapolis in 1997. The original proposition was providing institutional investors with specialized sales, trading, and research on small- and mid-cap growth companies that larger broker-dealers systematically under-covered. Investment banking capabilities were added later, evolving the firm into a full-service platform centered on the same issuer segment.

Yes. Craig-Hallum Capital Group LLC is a registered broker-dealer with the SEC and a member of FINRA and SIPC. The firm operates under standard U.S. broker-dealer regulation with no unusual regulatory posture. All trading, research distribution, and investment banking activities are conducted through the registered entity.