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Bleichroeder LP: Activist Profile

Bleichroeder LP, established in 2019 by Andrew Gundlach and Michael Kellen, is an investment advisory firm serving affluent individuals and institutional investors through private pooled funds and separately managed accounts. The firm also provides office space to independent financial professionals, though it does not supervise them directly, implementing compliance measures to manage potential conflicts with its own investment activities.


Investment StrategyBleichroeder employs a value investing approach, seeking capital appreciation through a portfolio of stocks, bonds, options, and other securities. The firm takes a bottom-up, research-driven strategy, focusing on buying undervalued securities. With broad discretion, it may concentrate investments in specific securities, sectors, or geographies, using a global investment approach across U.S. and international markets. Investments span companies of all sizes, with a flexibility to hold significant cash positions or fixed-income securities, particularly during periods of market distress.


Michael Max KellenChairman & Co-CEO, Bleichroeder LP

Michael Max Kellen, founder of Bleichroeder LP in 2019, serves as Chairman & Co-CEO. He is a Director at First Eagle Holdings, Inc. and a Trustee at the American Academy in Berlin. Previously, he was a Director at First Eagle Investment Management and FEF Distributors LLC and worked as a Securities Analyst at Clark Dodge & Co. He graduated from Harvard University in 1966.


Andrew Stephen GundlachPresident, Co-CEO & Chief Compliance Officer, Bleichroeder LP

Andrew Stephen Gundlach, founder of Bleichroeder LP in 2019, serves as President, Co-CEO, and Chief Compliance Officer. He is Chairman, President & CEO of Bleichroeder Acquisition Corp. I (since 2024), Director at First Eagle Investment Management (since 2003), First Eagle Holdings, and Welltower, Inc. (since 2024). He is also a Member of the Council on Foreign Relations, Treasurer & Trustee of the American Academy in Berlin (since 2010), and Trustee at the Solomon R. Guggenheim Museum.

Previously, he was an Independent Non-Executive Director at Odyssey Acquisition SA, Director at Materia, Inc. (2006–2021), and held roles at Morgan Stanley, Voya Investment Management, J.P. Morgan, and Artemis Advisors. Gundlach earned undergraduate and graduate degrees from Georgetown University and an MBA from Columbia Business School.


Letters & Presentations


Active 13D Positions

Stock

Company name

Sector

% of Portfolio

Link

INVE

Identiv Inc

INFORMATION TECHNOLOGY

2.7%


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