# Morgan Dempsey Capital Management

Morgan Dempsey Capital Management is a Bank / Wealth / Trust based in Milwaukee, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Milwaukee, United States
- **Region:** North America
- **Address:** Menomonee Falls, WI, United States
- **Founded:** 1994
- **Assets under management:** Undisclosed
- **Website:** morgandempsey.com
- **LinkedIn:** https://www.linkedin.com/company/morgan-dempsey-capital-management-llc

## Regulatory record

- **CRD number:** 106288
- **SEC file number:** 801-48064
- **Registration status:** Registered
- **Latest Form ADV filing:** 2026-03-06
- **Reports private funds:** No

## About

Morgan Dempsey Capital Management was founded in 1994 and operates from a single office in Menomonee Falls, Wisconsin. The firm is an independent, employee-owned asset manager that has remained deliberately small and focused, serving individuals, high-net-worth families, and entities through separately managed equity accounts. Its founding identity remains tied to a value-oriented, defensive investment discipline. The firm applies a fundamental, bottom-up research process to construct concentrated equity portfolios. Mandates center exclusively on publicly traded equities with a value tilt, seeking downside protection and absolute returns across full market cycles. Morgan Dempsey does not disclose its strategy as spanning private markets, credit, real assets, or venture capital. Geographically, the firm's investment universe appears focused on North American listed equities, though no country-level allocation breakdown is published. Team size and total assets under management are not publicly disclosed — the firm has not released headcount or AUM figures. Morgan Dempsey does not maintain additional offices, nor does it advertise adjacent vehicles such as philanthropic foundations, real-asset arms, or club memberships. The firm's most visible public presence is its period research output, offering sample Quarterly Reports through its website, which detail its equity market views and portfolio positioning. No recent operational events — such as key hires, strategy shifts, or fund launches — have been publicly announced in the last 24 months. Morgan Dempsey's structural differentiator is its deliberate resistance to scale. In an industry consolidating into mega-RIAs and multi-family office platforms, the firm remains a focused, employee-owned equity boutique. It does not operate a diversified wealth management practice, does not participate in club deals or co-investment networks, and has not evolved into a multi-asset allocator — preserving a narrow mandate that ties its survival directly to the quality of its value-equity stock selection.

## Questions

### What investment strategy does Morgan Dempsey Capital Management employ?

The firm applies a value discipline and a fundamental research approach to equity investing. Its stated goal is to produce a defensive portfolio that generates competitive risk-adjusted and absolute returns over a full market cycle. The strategy is concentrated in publicly traded equities and does not extend to private markets or alternative assets, based on available disclosures.

### Does Morgan Dempsey Capital Management disclose its assets under management?

No. The firm has not published a current or historical AUM figure through its website or public filings. As a private, employee-owned boutique, Morgan Dempsey keeps its scale — including assets, headcount, and client count — entirely undisclosed.

### What geographies does Morgan Dempsey Capital Management invest in?

The firm has not published a geographic mandate or regional allocation breakdown. Given its size and value-equity focus, its investment universe is inferred to be primarily North American listed equities, but no country-level restriction or weighting is confirmed by the firm.

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Updated: 2026-10-23T13:24:27Z

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