Michael Stephen Thomas

Provides brokerage services

Functions as a College/University

Brenham Capital Management seeks to generate superior absolute returns while minimizing the risk of permanent loss through a long/short strategy that invests in publicly-traded equity securities. To achieve this, the firm focuses primarily on investments in the energy industry with emphasis on situations where they believe companies have been overlooked or are misunderstood by other market participants. The Brenham Funds seeks to take long positions in securities of companies with attractive valuations, limited downside risk, high rates of return on invested capital, strong balance sheets, and honest, capable, well-aligned management teams. They take short positions in securities of companies with unrealistically high expectations, upcoming business headwinds, poor competitive positions, low rates of return on invested capital, over-leveraged balance sheets and management teams with a history of failure. Brenham Capital's portfolio construction approach is based primarily on bottom-up research, with some additional top-down considerations such as commodity price levels, macroeconomic data and diversification. The funds’ portfolio generally consists of 10 to 20 long positions and 10 to 30 short positions. Cash or cash equivalents may be held in the absence of attractive investments.

Webs Creek aims to achieve superior risk adjusted returns in all market conditions by investing in publicly traded equity securities with a focus on the energy sector. The firm identifies investment opportunities utilizing a fundamental research process. They use qualitative and quantitative factors to formulate a view of a company’s value and identify opportunities that include a corporate and industry catalyst.