Berkshire Asset Management

About Berkshire Asset Management, LLC

Berkshire Asset Management, LLC (“Berkshire”) is located in Wilkes-Barre, PA. Berkshire Asset Management, Inc., (“Berkshire, Inc.”) was formed in 1986 as a registered investment advisor focused on US equity management for high-net-worth individuals and institutions.

Many firms allocate considerable resources to marketing and raising as many assets as possible. In contrast, Berkshire believes focusing on investment results, offering a limited number of strategies and communicating clearly with clients is the most rewarding way to grow our business. It is extremely important to us that our investors have a clear understanding of the key tenants of our philosophy and an appreciation of our firm’s culture.

Throughout the 1990’s, the firm grew in assets and reputation. By implementing a well-crafted investment philosophy, and providing quality service, the firm attracted attention as a boutique investment firm. In 1999, Berkshire, Inc. was sold to Legg Mason.

Seeking to once again have full control and autonomy over its strategic direction, senior leadership repurchased the firm in 2007, forming Berkshire. Berkshire was once again 100% employee owned and operated. The current investment team has worked cohesively since the mid-1990s, and the firm has experienced extremely low professional turnover throughout its entire history.

In 2009, Berkshire wished to capitalize on what it perceived as a multi-decade opportunity created by the financial crisis, particularly in high quality dividend paying stocks. Berkshire leveraged its existing reservoir of company research and large cap expertise and launched the Berkshire Dividend Growth Strategy. The strategy currently enjoys local and national reach through a select number of third-party distribution channels.

Most recently, in December2022, iM Global Partner, a global asset management network, made a strategic, non-controlling investment in Berkshire.

Berkshire Firm Level Disclosures and Documents:
Berkshire GIPS Verification 12.31.2022
Berkshire Form ADV Part 3 Form CRS 3.31.2024
Berkshire Form ADV Part 2A 3.31.2024
Berkshire Form ADV Part 2B 3.31.2024
Berkshire Privacy Policy 5.15.2020

*Berkshire Asset Management, LLC (Berkshire) is a fee-based, SEC registered advisory firm serving the portfolio management needs of high net worth and institutional clients. Berkshire Asset Management, Inc. was formed in 1986 as a SEC registered investment adviser. In 1999 the company was sold to Legg Mason. In 2007, senior leadership repurchased the firm, forming Berkshire Asset Management, LLC, the company built to serve you today. In December 2022, iM Global Partner, a leading global asset management network, made a strategic, non-controlling investment in Berkshire. ** Assets under supervision include all assets directed and supervised by Berkshire Asset Management through all arrangements. Berkshire participates as an adviser providing investment management services to clients of wrap fee programs.

Bios

Rachel L. Ames, CFA

Vice President, Analyst and Trading

Education:

BS, George Washington University

CFA Charterholder

Experience:

Rachel has over 15 years of experience in portfolio management and market analysis. Prior to joining Berkshire in September of 2019, she worked at various asset management companies in the Washington DC area. Most recently was CBOE Vest where Rachel served as Vice President. Before that she was employed at ProShare Advisors, LLC for almost 14 years, most recently in the role of Portfolio Manager.

Kenneth J. Krogulski, CFA

President and Chief Investment Officer

Education:

BS, Indiana University of Pennsylvania
MBA, Wilkes University

CFA Charterholder

Experience:

Ken has 40 years of experience in security analysis and portfolio management. He joined Berkshire in 1990 after serving for 11 years as senior portfolio manager for the First Eastern Bank’s trust company. He is director of Allied Services, Cumberland Pharmaceuticals, Inc. (CPIX: NASDAQ) and Landmark Bank (LDKB: NASDAQ).

Gerard Mihalick, CFA

Partner and Portfolio Manager

Education:

Partner and Portfolio Manager

CFA Charterholder

Experience:

Gerry has over 25 years of experience in the investment management industry and joined Berkshire in 1995. He is a member of the firm’s investment committee, participates in the firm’s equity and fixed income research process and has portfolio management responsibility over a number of client accounts. Gerry is member of the New York Society of Security Analysts and serves as a director for the St. Vincent de Paul Soup Kitchen and the Salvation Army, Wilkes-Barre Corp. Prior to joining Berkshire, he was employed as a portfolio manager with Fleet Investment Advisors in Rochester, New York.

Jason J Reilly, CFP®

Partner, Institutional and Advisory Distribution

Education:

BS, King’s College

Certified Financial Planner™ Professional

Experience:

Jason has more than a decade of experience in the wealth and investment management business. At Berkshire, he is responsible for building and maintaining our institutional client relationships. In addition, he offers Berkshire’s clients wealth planning and investment advice. Prior to joining Berkshire in 2015, Jason worked at PNC Bank in both the Philadelphia and Northeast PA markets serving their high-net worth client base. Jason has served on the board of directors of various local non-profit organizations.

Gregory C. Weaver, CFA

Partner, Senior Analyst

Education:

BS, Business Administration, University of Central Florida

CFA Charterholder

Experience:

Greg is a member of the firm’s investment committee and has equity and fixed income research and portfolio management responsibilities. Prior to joining Berkshire in 2007, Greg was a financial analyst for both MGM Studios and Paramount Pictures. He was an Investment Representative for Trust Company of the West and most recently served as Wealth Manager for the M&T Bank Investment Group. He is a member of the CFA Society of Philadelphia and serves on the board of the Wilkes-Barre YMCA, the Home For Homeless Women, the Luzerne County Historical Society, and the Wyoming Commemorative Association.

Michael D. Weaver, CFA

Partner, Portfolio Manager

Education:

BA, Economics, University of Virginia

CFA Charterholder

Experience:

Mike has over 20 years experience in security analysis and portfolio management. At Berkshire, Mike is a member of the firm’s investment committee and has equity research and portfolio management responsibilities. Prior to joining Berkshire in 1999, Mike was a senior portfolio manager for Mellon Private Asset Management.

Berkshire Asset Management, LLC (“BAM”) is a Registered Investment Advisor under the Investment Advisors Act of 1940. Registration as an Investment Advisor does not imply any level of skill or training. *Berkshire Asset Management, Inc. was formed in 1986 as a SEC registered investment adviser. In 1999 the company was sold to Legg Mason. In 2007, senior leadership repurchased the firm, forming BAM. In December 2022, iM Global Partner, a leading global asset management network, made a strategic, non-controlling investment in Berkshire. All information contained herein is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services. Access to BAM is only available to clients pursuant to an investment advisory agreement and accepting delivery of BAM’s Form ADV Part 2A, 2B, and 3. You are encouraged to read those documents carefully. BAM manages portfolios for individuals and institutions. All investing carries risk including risk of principal loss. No statement made herein shall construe investment advice. All statements made herein are opinions of BAM and subject to change. Berkshire assumes no responsibility towards the accuracy of the data included.