Contact Us     918.619.6752    1601 S. Main St., Suite 500, Tulsa, OK 74119

Meliora Capital

ACTIVE MANAGEMENT. PERSONAL SERVICE.
INDEPENDENT ADVICE.

Meliora means “to make better”, and it represents our promise to the clients we’re honored to serve. Meliora Capital provides investment management services to high net worth individuals and institutional clients. 

We are an independent, registered investment advisory firm, with a fiduciary commitment to put our clients’ interests first. Our purpose is to help preserve and grow your assets, and meet your personal goals over your unique time horizon.

Put simply, you worked hard for your assets, and we’re here to make them work hard for you.

At Meliora, our actively managed strategies aim to provide competitive returns.  We have a unique approach to investing that focuses on a select number of securities which we follow closely. 

By delivering disciplined strategies and unparalleled personal service, Meliora is working to be a better financial advisor for you.

About Us

Meliora Capital is an independent investment advisory firm founded in 2014.  Headquartered in Tulsa, Oklahoma, we serve a diverse range of clients across the country.  We serve our clients with separately managed accounts and focus on a select group of securities.

J.P. Szafranski, CFA – Chief Executive Officer & Chief Investment Officer

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J.P. Szafranski is a co-founder of Meliora Capital.  He serves as CEO and CIO for the firm.  As CEO he directs the company’s strategic initiatives and oversees all aspects of the business.  As CIO, Mr. Szafranski manages the security selection process for the firm’s actively managed strategies.

Mr. Szafranski is a CFA Charterholder and began his professional career in 2005.  He graduated with Special Distinction from the University of Oklahoma with a Bachelor of Business Administration in 2005.  Upon graduating, Mr. Szafranski worked for IBM in the Business Consulting Services segment.  In the six years prior to founding Meliora, he worked at Pinnacle Investment Advisors fulfilling multiple roles and responsibilities as a financial analyst and portfolio manager, concentrating the majority of his efforts on the Master Limited Partnership (MLP) sector.

J.P. lives in Tulsa, Oklahoma with his wife Maggie and their four sons.  He is actively involved in the community, including serving as coach for his sons’ various youth sports teams.  He currently serves as President of the Board of Directors for Theatre Tulsa, and previously served as Treasurer.. He is actively involved in various other local organizations.

 

Chas Craig, CFA, CPA – President & Director of Research

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Chas Craig is a co-founder of Meliora Capital.  He serves as President and Director of Research for the firm.  As President, he assists in the development and implementation of the company’s strategy and oversees all aspects of the business.  As Director of Research, Mr. Craig provides idea generation, security analysis and assists the overall portfolio management of the firm’s actively managed strategies.

Mr. Craig is a Certified Public Accountant and a CFA Charterholder.  He graduated Summa Cum Laude from Oklahoma State University with degrees in both accounting and finance in 2009.  He began his professional career working as an associate auditor at PricewaterhouseCoopers.  Prior to founding Meliora, he worked at Pinnacle Investment Advisors fulfilling multiple roles and responsibilities as a financial analyst and portfolio manager.

Chas lives in Tulsa, Oklahoma with his wife Leigh Anne and their daughter.  He is actively involved in the community including serving as a volunteer on the Asset/Liability Committee for Red Crown Credit Union and is Treasurer and member of the board of directors for Tulsa CARES. Chas is also active in the CFA Society of Oklahoma and the Tulsa Chapter of the Oklahoma Society of Certified Public Accountants.

Why Meliora Capital?

Every client is different, and deserves personalized service. That’s easy to say, but much harder to prove. We do every day – by taking the time to understand your individual needs and objectives; by personalizing portfolios for each client; by strategically allocating your assets using active management strategies and low cost index funds; and perhaps most uniquely, by simply being there to answer your questions and help meet your goals.

Meliora’s founders have proven experience, particularly with MLPs and our Multi-Cap Value Equity Strategy. We maintain a disciplined focus on expected return versus the risk characteristics for all the securities we follow.

We believe in active portfolio management, and do not outsource the security selection process.  Our clients may speak directly to the investment manager making the investment decisions, which is like having the fund manager on speed dial.

Much like doctors or attorneys, we think of our firm as a “practice.” It is more than a job, or even a career, but a discipline.  We’re never content, and are constantly learning from our experiences and improving.  We never want to get comfortable.  Every day we want to make ourselves “better” for our clients.

So what are your goals? Where are you, and where do you want to go? Whatever your investment expertise, we will strive to serve you. 

Contact us, and we can see how we can make things “better” for you.

MLPs

Meliora’s MLP Strategy

Master Limited Partnerships (MLPs) are publicly traded just like stocks, but are structured as partnerships, and as such are not subject to corporate taxation.  MLP income is taxed only once, at the partner level.  Most MLPs are natural resource-related companies because the U.S. tax code largely restricts the MLP structure to “qualifying income” related to the development and marketing of natural resources.

MLPs typically pay out the vast majority of the cash flow they generate each quarter.  This makes them an attractive sector for dividend-oriented investors.

Meliora Advantages

Meliora’s MLP Strategy focuses on the midstream energy sector as we view it as the most structurally suitable sector, due to its long-lived assets and relatively stable cash flow profile.  The following are some elements that set Meliora apart:

In-Depth Financial Analysis

  • Valuation (Relative to Peers and History)
  • Cash Flow Profile
  • Cost of Capital
  • Balance Sheet Strength

Knowledge of Industry Dynamics

  • Extensive industry contacts
  • Centrally located near many MLP headquarters

Personalized Service

  • Access to portfolio managers
  • Meliora-managed separate accounts retain attractive tax benefits given up by publicly available MLP funds.

Please contact us for more detailed information about our MLP Strategy, including its risk factors.

Multi-Cap Value

Meliora’s Multi-Cap Value Equity Strategy

The Multi-Cap Value Strategy is an actively managed strategy which serves as our clients’ core flagship U.S. stock market allocation.  The portfolio can include public companies of all sizes (Multi-Cap) and in any industry.  The intent is to provide a strategic cross-section of the U.S. stock market.

Meliora’s Approach

Value investing, as we define it, is accomplished in multiple ways. Regardless of the specific situation, our goal is to purchase stocks with a high probability of receiving a meaningfully higher value within a reasonable period of time, with expected returns always weighed against risk characteristics.  All else equal, we prefer dividend-paying stocks, but our paramount focus is on total return.

The Multi-Cap Value Strategy reflects our belief that building a portfolio of stocks in which we have significant knowledge and confidence is the best way to add value as equity portfolio managers.

Our analytical process is primarily “bottom‐up,” but we take our assessment of macro‐economic, financial and industry conditions into account as part of the portfolio construction process. We do this because it is impossible to assess a company’s value in isolation from its industry and macro‐economic circumstances.

Please contact us for more detailed information about our Multi-Cap Value Strategy, including its risk factors.

Contact Us

Meliora Capital
1601 S. Main St., Suite 500
Tulsa, OK 74119

918-619-6752 (phone)
918-619-6547 (fax)
ccraig@melcapital.com