Amvona

Lemelson Reports FYE '23 Results, Files Motion For Attorney's Fees Related to Fraudulent SEC Charges

Q4 Net returns: 84.68 percent - FYE 23 Net Returns: 383.02 percent

CIO Files Motion to Recover More than $1.7 Million in Attorney's Fees and Costs Related to Fraudulent 2018 SEC Charges

Jericho, New York, January 11, 2024 —Lemelson Capital Management, LLC (LCM), today announced Q4 and FYE 2023 financial results, as well as a January 10, 2024 filing of a motion in federal court by the firm's CIO, Rev. Fr. Emmanuel Lemelson, to recover more than $1.7 million in attorney's fees and costs related to fraudulent charges brought by the U.S. Securities and Exchange Commission in 2018, which resulted in a substantial victory for Lemelson in a November 2021 trial.

To access a copy of the motion, click here or see below.

In the Q4 period ending December 31, 2023, performance was 84.68 percent net of all fees and expenses based on preliminary unaudited results.The S&P 500 TR (the "benchmark"), which includes the reinvestment of dividends, returned 11.69 percent during the same period. 

In the FYE period ending December 31, 2023, performance was 383.02 percent net of all fees and expenses based on preliminary unaudited results. The S&P 500 TR (the "benchmark"), which includes the reinvestment of dividends, returned 26.27 percent during the same period.  

"We are satisfied with our significant, long-term outperformance inception to date," said Fr. Emmanuel Lemelson, Chief Investment Officer, LCM. "Separately, today's motion, seeking over $1.7 million in attorney's fees and costs, sends a message to prosecutors hellbent on ignoring the constitution.  Their willingness to lie and burn through millions in taxpayer dollars to expand the unconstitutional power of the administrative state and to 'silence' their critics is disgraceful," Lemelson added.

During the 2021 prosecution of Fr. Emmanuel, the lead SEC prosecutor called Fr. Emmanuel “a top hedge fund manager with top results in the world” and stated, “Apparently, those results are based on lies… that’s the key part of this scheme.” A Federal jury rejected the SEC’s bogus claim he engaged in any scheme based on lies.  And Fr. Emmanuel’s extraordinary performance has not been challenged since.

As a former Senior Trial Counsel and member of the executive staff of the SEC’s Division of Enforcement recently observed in a Reuters article:

“Not only was the jury unconvinced by the SEC’s showing with regard to misstatements, the jury outright rejected the SEC’s fraudulent scheme charge; the jury also found the SEC failed to prove a negligent, reckless, or intentional violation of the Investment Advisors Act by Lemelson or LCM. . . .The Commission brought the widest array of potential claims against Lemelson and his company, and his decision to fight the charges paid off… He also succeeded in protecting his advisory business and the fund it managed from any liability whatsoever.”

LCM will host an investor conference call on the FYE 2023 financial results today at 8:30 a.m. EST. This call will also be available for replay for approximately two weeks after that.  Register for the call here

The fund is currently closed to new investors. Contact This email address is being protected from spambots. You need JavaScript enabled to view it. for questions.

LCM periodically provides information for investors on its corporate website, LemelsonCapital.com, and its related site, Amvona.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting.

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About Lemelson Capital Management

Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments.  The firm is closed to US clients and investors.

Follow LCM on X @LemelsonCapital - on LinkedIn here - on Facebook @LemelsonCapital

Follow Fr. Emmanuel on X @Lemelson - Instagram @Lemelson - LinkedIn EmmanuelLemelson - Facebook @Lemelson - YouTube @Lemelson - TikTok @fr_emmanuel_lemelson

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Investor Relations Contact

Lemelson Capital Management, LLC 
Investor and Media Relations 
Telephone: 516-261-1146

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FR. EMMANUEL LEMELSON: MOTI... by amvona

NOTICE AND DISCLAIMER:

This report shall not constitute an offer of interests in any fund, which may only be made pursuant to the confidential private offering memorandum, related subscription agreement, and applicable laws and regulations. 

Any information on specific investments or opportunities is provided merely to illustrate the research process that may be utilized by the Advisor and should not be relied upon in making an investment decision with respect to the investments covered by the report. Investment processes are subject to change without notice. 

Any performance data included with respect to any client account of the Advisor represents the net performance (except where gross and net are both presented) of and reflects the deduction of all account or vehicle level expenses, including without limitation brokerage and other transaction costs, as well as legal, audit, administration, and other expenses. Any performance presented would not represent the return of any individual investor. An individual investor's net return in any collective investment vehicle may differ significantly from any net performance as stated herein due to differences in fee arrangements and timing of investment. In fact, any net returns of a vehicle shown herein may be significantly higher than an investor's actual return. Any performance information includes the reinvestment of all dividends, interest, and other income. Past performance is not necessarily indicative of future results. All investments involve risk, including the potential loss of principal.

Any performance results should not be considered a substitute of, or indicative of the past or future performance. Returns are estimated and unaudited, and actual returns may vary from the performance information presented above. Estimated returns should not be construed as providing any assurance or guarantee as to actual returns. Actual performance figures are only computed and audited yearly. Past performance is not indicative of future results, which may vary. The value of investments and the income derived from investments can go down as well as up. Future returns are not guaranteed, and a loss of principal may occur. An investment in any fund is subject to a variety of risks (which are described in the Fund's Confidential Offering Memorandum), and there can be no assurance that an account's investment objective will be met or that it will not incur losses. This information does not constitute an offer to sell or the solicitation of an offer to purchase any interest in any fund or other investment product. Any such offer or solicitation may only be made by means of delivery of the Fund's offering documents.

Any specific securities identified and described in this material do not represent all the securities purchased, sold, or recommended for any account. The audience should not assume that investments in these securities identified and discussed have been or will continue to be profitable. Investment examples are included merely to illustrate the investment process and strategies that may be utilized. The Fund currently owns numerous other securities in various other industries and sectors unrelated to these securities. The purchase of these securities only will not create a diversified portfolio. In addition, such securities are subject to losses as an investor may lose money investing in such securities.

Indices included to show the general trend of the securities markets in the periods indicated. No representation is made that the strategies are or will be comparable, either in composition or element of risk involved, to the securities comprising the selected indices. S&P 500® Total Return Index (SPTR): A market value-weighted index of 500 stocks chosen for market size, liquidity, and industry grouping, among other factors. This index is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large-cap universe. This index reflects the effects of dividend reinvestment.

 

1 The returns reflect a hypothetical day-one, full-fee-paying investor.  

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