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

  • June 18, 2026

    To Many New Investors, The Casino is More Fun than The Cathedral

    Warren Buffett has recently used the "Cathedral and the Casino" (or "Church and the Casino") analogy to describe the dual nature of the modern American economy and the stock market. 

  • March 10, 2026

    Is ASML a pick and shovel monopoly in the AI ecosystem?

    ASML Holding N.V. (ASML) is a business based in the Netherlands that defines “high quality.” As the sole provider of the lithography machines required to manufacture the world’s most advanced semiconductors, ASML’s business model is centered on its role as the exclusive provider of the world’s most advanced lithography systems, which are essential for manufacturing of nearly all modern microchips.

  • 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.