Value Investing Panel

Founder & Portfolio Manager

Brennan Asset Management

Patrick Brennan is the founder and portfolio manager of Brennan Asset Management, LLC, a Registered Investment Advisory firm based in Napa, California, which utilizes a concentrated value investing strategy. Prior to founding Brennan Asset Management, LLC, Mr. Brennan managed portfolios and led research efforts at two value investing firms in California: Hutchinson Capital Management and RBO & Co. Previously, Mr. Brennan worked at Mark Boyar & Company, where he led the firm’s research team and helped manage $800 million of assets across individual portfolios, institutional accounts and a mutual fund. Mr. Brennan also worked for six years in investment banking and equity research with Deutsche Bank, CIBC World Markets and William Blair & Company. Mr. Brennan graduated summa cum laude from the University of Notre Dame with a degree in economics and was inducted into Phi Beta Kappa. Mr. Brennan received the Chartered Financial Analyst (CFA) designation in 2002 and is a member of the CFA Institute (formerly AIMR). Patrick Brennan is originally from Omaha, Nebraska.

President and Portfolio Manager

Tributary Capital Management

Mark is the president of Tributary Capital Management and is a portfolio manager for the firm's Small Cap, Small/Mid Cap and All Cap Equity strategies. Mark has over 25 years of industry experience and joined Tributary Capital Management's predecessor, First Investment Group, in 1999. Prior to joining Tributary, he worked for five years at Westchester Capital Management as a senior securities analyst and two years at Union Pacific Railroad as a financial analyst, both in Omaha, Nebraska. Mark received his Bachelor of Science in Business Administration from the University of Nebraska-Lincoln. He earned his Chartered Financial Analyst (CFA) designation in 1997. Mark is a member of the CFA Society of Nebraska and the CFA Institute. He served on the Board of Directors of the CFA Society of Nebraska from 2002 to 2009, serving as president during 2007 and 2008.

CIO-U.S. and Portfolio Manager

Harris Associates/Oakmark Funds

Bill Nygren has been a manager of the Oakmark Select Fund since 1996 and Oakmark Fund since 2000. He was a manager of the Oakmark Global Select Fund from 2006 to 2023. Mr. Nygren is also the chief investment officer-U.S. at Harris Associates, which he joined in 1983, and a vice president of the Oakmark Funds. He served as the firm’s director of U.S. research from 1990 to 1998.

Mr. Nygren has received many accolades during his investment career, including being named Morningstar’s Domestic Stock Manager of the Year for 2001. He holds an M.S. in finance from the University of Wisconsin’s Applied Security Analysis Program (1981) and a B.S. in accounting from the University of Minnesota (1980).

Head of Public Equities

State of Wisconsin Investment Board

Susan Schmidt is the Head of Public Equities at the State of Wisconsin Investment Board. She has over 20 years of experience in the asset management industry and throughout her career has been an active investor in small- and mid-cap companies. Ms. Schmidt has extensive experience as a portfolio manager and research analyst and has served as president and chief executive officer of an industrial manufacturing company. Prior to her responsibilities at the State of Wisconsin Investment Board, Ms. Schmidt was the Head of U.S. Equities Portfolio Management at Aviva Investors in Chicago, a Senior Portfolio Manager and Senior Research Analyst at Westwood Holdings Group in Dallas, and a Portfolio Manager and Head of U.S. Equities for Mesirow Financial in Chicago. Ms. Schmidt received an MBA in finance from Northwestern University, a BA in economics from Smith College, and a degree in economic history from London School of Economics. She is a member of the CFA Institute and the CFA Society of Madison.