We are a Los Angeles based long-term value investment firm focused on acquiring and owning a concentrated group of great businesses with durable economic moats.

“In the short run, the market is a voting machine but in the long run it is a weighing machine.”

– Benjamin Graham

Manages a long term, concentrated, value oriented private investment fund.

Manages a long term, concentrated, value oriented private investment fund.

Our Mission

To compound investors’ capital at a higher rate than the S&P 500 Total Return index by owning concentrated positions in a relatively small number of truly exceptional companies.

Our Mission

To compound investors’ capital at a higher rate than the S&P 500 Total Return index by owning concentrated positions in a relatively small number of truly exceptional companies.

Investment Philosophy

  • Our investment style is inspired by that of Warren Buffett and Charlie Munger, perhaps the world’s most successful investors
  • When we make an investment, we think of ourselves as long-term business owners
  • We are not perturbed by the ups and downs of the stock market; rather, we maintain a long-term focus solely on the fundamentals of each company in which we invest
Learn more

Investment Philosophy

  • Our investment style is inspired by that of Warren Buffett and Charlie Munger, perhaps the world’s most successful investors
  • When we make an investment, we think of ourselves as long-term business owners
  • We are not perturbed by the ups and downs of the stock market; rather, we maintain a long-term focus solely on the fundamentals of each company in which we invest

Investment Process

Investment Process

Risk Management

We mitigate loss of capital by:

  • Focusing on long-term outperformance
  • Investing only in “earnings compounders” that have a strong competitive advantage
  • Placing a high value on great leadership and financial conservatism
  • Always investing across multiple sectors and industries
Learn more

Risk Management

We mitigate loss of capital by:

  • Focusing on long-term outperformance
  • Investing only in “earnings compounders” that have a strong competitive advantage
  • Placing a high value on great leadership and financial conservatism
  • Always investing across multiple sectors and industries

We define risk as the likelihood of permanent loss of capital, not as volatility of investment returns.

We define risk as the likelihood of permanent loss of capital, not as volatility of investment returns.

Kenneth U. Reyes

Founder and Fund Manager

Kenneth brings over 30 years of investment expertise and a unique blend of business, accounting, and legal acumen to Reyes Capital Management. He earned his B.S. in Business Administration and Accounting from California State University at San Bernardino and became a CPA, working at prestigious firms like Arthur Andersen, LLP, and Bank of America, where he mastered financial statement analysis and business model evaluation. His early experience in turning around his family’s low-margin restaurant business instilled a focus on high-margin, competitively advantaged investments.

Kenneth U. Reyes

Founder and Fund Manager

Kenneth brings over 30 years of investment expertise and a unique blend of business, accounting, and legal acumen to Reyes Capital Management. He earned his B.S. in Business Administration and Accounting from California State University at San Bernardino and became a CPA, working at prestigious firms like Arthur Andersen, LLP, and Bank of America, where he mastered financial statement analysis and business model evaluation. His early experience in turning around his family’s low-margin restaurant business instilled a focus on high-margin, competitively advantaged investments.

Investment Resources

Investment Resources

  • Daily Journal Corporation

    December 3, 2025

    Charlie Munger’s Masterstroke of Pivoting the Daily Journal from Print to Tech

    Early in my career as a practicing lawyer in Los Angeles some 25 years ago, I used to look forward to receiving the print subscription of the Daily Journal which lays out all the new appellate cases by practice area. However, as the years passed and technology advanced, I found easier ways of accessing those cases online. The story of the Daily Journal Corporation (DJCO) is a classic demonstration of legendary investor Charlie Munger’s capital allocation genius and strategic foresight.

  • September 1, 2025

    Is Adobe a Value Investment or a Value trap?

    A lot of people have a grand idea about the next big thing, and they'll get all worked up about a company's past successes and future projections. The truth is, the world is full of companies that had a good run but couldn't keep it up. What's important is the business itself, its competitive position, and the people running it. Let's take a look at Adobe, a company that has been a long-time fixture in the world of creative software.

  • January 31, 2025

    Is Arista Networks Inc a Great Business?

    Is Arista Networks a great business? Arista Networks is a business that reflects solid business fundamentals and consistent revenue and operating income growth since it became a public company in June 2014. It is therefore worth taking a further look into this business. Simple business models with a long track record are more predictable and less likely to be subject to disruption. Arista does not operate a simple and predictable business. It is a networking equipment provider.