Established in 2002, Osmium Partners, LLC is a leading investment management firm headquartered in the San Francisco Bay Area. We focus on investing in high-quality, small capitalization public equities via an exhaustive, bottom-up research process.

Investment Strategy

We seek to generate strong, risk-adjusted returns by investing in undervalued, small capitalization companies across US equity markets. Our research process is based on eight simple factors involving balance sheet strength, aligned interests, attractive reinvestment opportunities, a low valuation, and reasonable growth prospects. As engaged owners, we actively discuss corporate strategy and capital structure with management teams and boards of directors. We prefer to conduct these discussions in private, but we will publicly debate important items with all shareholders when appropriate.

Investment Team

John Lewis

Chief Investment Officer & Managing Partner

Osmium Partners, 2002 – Present

Member of the Board of Directors of Intersections Inc.
October 2015 – August 2017

Member of the Board of Directors of Spark Networks
July 2014 – November 2017

Director of Research, Retzer Capital, 2001 – 2002

Equity Research Analyst, Heartland Funds, 1999 – 2001

MBA, University of San Francisco, 1998

BA, University of Maryland, 1996

Oliver Richner

Senior Advisor & Research Analyst

Osmium Partners, 2015 - Present

Managing Partner, Richner Capital 2010 - Present

Partner, Osmium Partners 2005 - 2009

Senior Analyst, StarMine - Thomson Reuters 2002 - 2004

Senior Consultant, Baseline - Thomson Reuters 1999 - 2001

MBA, University of California at Berkeley, 2005

BA, Rensselaer Polytechnic Institute, 1994

Ricardo Lee

Research Analyst

Osmium Partners, 2019 — Present

Analyst, ICONIQ Capital, 2018 - 2019

Tax Associate, Ernst and Young, 2017 - 2018

Staff Auditor, EisnerAmper, 2015 - 2016

BA, University of California, Santa Barbara, 2015

Operations Team

Sameer Jain, CPA

Chief Operating Officer

Osmium Partners, 2014-Present

Operations Manager, Citco Fund Services, 2006 — 2014

Associate, Barclays Global Investors, 2004 — 2005

Sr. Fund Accountant, Investors Bank & Trust, 2002 — 2004

BS/BA, University of California, Davis, 2002