JAG Capital Management

JAG Capital Management

JAG Capital Management was founded in 2011 in St. Louis, Missouri, by Norman J. Augustine, the former chairman and CEO of Lockheed Martin, alongside a group of investment professionals with operating backgrounds in industrials and financial services. Augustine, a five-time recipient of the Department of Defense's Distinguished Service Medal, brought a practitioner's understanding of business quality and capital allocation to the firm's equity research process. The firm operates as a registered investment adviser with the SEC, managing separate accounts for individuals, high-net-worth families, and institutional clients. The firm's investment strategy centers on a concentrated long-only equity portfolio built through fundamental, bottom-up research. JAG Capital Management targets high-quality businesses with strong balance sheets, predictable cash flows, and management teams with demonstrated capital allocation discipline. The strategy draws from sectors where the team holds deep domain expertise, including aerospace and defense, industrial technology, and financial services. Geographic focus is primarily US equities, with select exposure to developed-market multinationals. The firm does not operate pooled vehicles or funds, structuring client exposure through individually managed accounts tailored to tax and planning circumstances. As a St. Louis-anchored RIA, JAG Capital Management maintains a lean operating structure with investment decisions concentrated among a small team of generalist analysts. The firm does not disclose AUM publicly. Ancillary services include retirement planning, estate coordination, and tax-aware portfolio design, positioning the practice closer to a multi-family-office model than a pure asset gatherer. No adjacent philanthropic foundation, real-asset vehicle, or club membership is disclosed in publicly available sources. JAG Capital Management's structural identity is defined by its principal's operational career rather than a conventional Wall Street pedigree. Augustine led Lockheed Martin through the post-Cold War consolidation of the defense industry and later served as Under Secretary of the Army—a governance and capital-stewardship background that shapes the firm's long-duration approach to equity ownership. This operator-turned-allocator architecture distinguishes the firm from the broker-dealer wealth managers that dominate the St. Louis market while remaining smaller and less institutionally scaled than nationally recognized RIAs.