Greystone Capital Management

Jeffrey S. Bornstein is the President and Chief Investment Officer and has run the firm's investment strategy since its founding in 1998. He is the sole portfolio manager and makes all final capital allocation decisions. His public letters and interviews indicate a deeply research-intensive, conviction-weighted approach rather than a committee-driven one.

Greystone pursues a long-only, concentrated value strategy focused on small- and micro-cap public equities in North America. The firm has historically held positions across diversified industrials, consumer products, specialty chemicals, healthcare services and regional banking. Bornstein targets companies with strong balance sheets, high insider ownership, and durable free cash flow.

Greystone accepts external capital through a partnership structure, but the firm does not actively market itself through a broad institutional distribution network. Bornstein's quarterly letters serve as the primary communication channel with existing and prospective limited partners. The firm does not operate as a mutual fund or ETF.

Greystone's idea generation relies on bottom-up fundamental research — screening for balance-sheet strength, insider buying, corporate spinoffs, and post-reorganization equities. Bornstein has publicly emphasized screening for companies that are underfollowed by sell-side analysts, particularly in the micro-cap universe below $500 million in market capitalization.