Our Team

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Thibaut Pizenberg

Securities Analyst
Thibaut Pizenberg

Thibaut Pizenberg joined International Value Advisers, LLC (IVA) in March 2009 as a partner and securities analyst. He covers the automobile, building products & construction, healthcare, hotels, gaming & leisure, and real estate (global) industries.

Prior to joining IVA, Thibaut was a senior vice president at Arnhold and S. Bleichroeder Advisers, LLC (ASB) where he worked from 2001 to 2009 as a senior analyst for the First Eagle Funds together with a number of separate accounts and offshore funds advised by ASB. Prior to that, Thibaut worked for two years as an equity analyst in France and the United States.

Thibaut graduated top of his class at his Postgraduate degree in corporate finance from ESCP, a leading European business school. He also completed the French equivalent of a Master’s degree in finance from Paris Dauphine University.

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Adam Ackerman, CFA

Securities Analyst
Adam Ackerman

Adam Ackerman joined International Value Advisers, LLC (IVA) in April 2009 as a securities analyst. He covers the commercial services, media, software/technology, telecom services & equipment, transportation (excluding railroads and trucking), and U.S. regional banks industries.

Prior to joining IVA, Adam was an associate at Deutsche Bank where he worked from 2006 to 2008 as an equity and credit research analyst for a proprietary trading group. Prior to that, Adam worked for three years as an investment banking analyst at JPMorgan.

Adam earned a B.A. in economics from Cornell University and a M.B.A. from The University of Chicago. He holds the Chartered Financial Analyst (CFA) designation.

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Maureen Levelis, CFA

Securities Analyst
Maureen Levelis

Maureen Levelis joined International Value Advisers, LLC (IVA) in September 2009 as a part-time securities analyst. She covers the banking, insurance, services, and waste management industries.

Prior to joining IVA, Maureen was a vice president at Arnhold and S. Bleichroeder Advisers, LLC where she worked from 2002 until 2007 as an analyst for the First Eagle Funds together with a number of separate accounts and offshore funds advised by the firm. Maureen was responsible for covering banking, consumer services, real estate, technology, Korea, and Latin America.

From 1999 to 2002, Maureen was in the trading group at the First Eagle Funds. Prior to that, she was a registered sales associate in the private client group of Salomon Smith Barney.

Maureen earned a B.S. in chemistry from Lafayette College. She holds the Chartered Financial Analyst (CFA) designation.

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Nick Bartolo, CFA

Securities Analyst
Nick Bartolo

Nick Bartolo joined International Value Advisers, LLC (IVA) in October 2009 as a securities analyst. He covers the energy, chemicals, personal products, retail, utilities (U.S.), and shopping mall REITs industries.

Prior to joining IVA, Nick was a senior vice president at Trust Company of the West (TCW), where he worked from 2004 to 2009. He was a senior analyst for the equity funds and institutional accounts. Prior to that, Nick worked at The Capital Group Companies in a management development program and Arthur Andersen as a senior auditor.

Nick earned a B.S. in accounting and a M.B.A. from The University of Southern California. He holds the Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA) designations.

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Benjamin Mellman

Securities Analyst
Benjamin Mellman

Benjamin Mellman joined International Value Advisers, LLC (IVA) in November 2010 as a securities analyst. He covers the aerospace/defense, capital goods, and media industries.

Prior to joining IVA, Ben completed his M.B.A. and helped build quantitative trading systems for six years at RG Niederhoffer Capital Management.

Ben earned a B.A. in American history and physics and a M.B.A. from Columbia University.

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Jonah Stowe

Securities Analyst
Jonah Stowe

Jonah Stowe joined International Value Advisers, LLC (IVA) in September 2012 as a securities analyst. He covers the consumer durable products, insurance (P&C & RE), automobile, shipping (incl. port services), airports/toll roads/terminal operators, trucking, and real estate (U.S.) industries.

Prior to joining IVA, Jonah was an equity research analyst at Gabelli & Co. where he covered healthcare. Prior to that, Jonah worked as a senior associate at Platinum Equity, LLC from 2003 to 2008.

Jonah earned a B.A. in economics from the University of California at Santa Barbara and a M.B.A from Columbia Business School.

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Hyunjae (HJ) Lee, CFA

Securities Analyst
Hyunjae (HJ) Lee, CFA

Hyunjae (HJ) Lee joined International Value Advisers, LLC (IVA) in September 2013 as a securities analyst. He covers the property development, building products, food & beverage/tobacco, oil service, base metal mining, restaurants, real estate (Asia), and railroads industries.

Prior to joining IVA, HJ completed his M.B.A., and from 2006 to 2011, he was an analyst covering Korean steel and construction companies at Morgan Stanley.

HJ earned a B.A. in business and economics from Seoul National University and a M.B.A. from Columbia Business School. He holds the Chartered Financial Analyst (CFA) designation.

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Patrick Jamgocian, CFA

Securities Analyst
Patrick Jamgocian, CFA

Patrick Jamgocian joined International Value Advisers, LLC (IVA) in September 2018 as a securities analyst. He covers the cement, agriculture, packaging, trucking, transportation logistics, flavors & fragrances and health insurance industries.

Prior to joining IVA, Patrick worked as an analyst at Boyar Value Group, Pequot Capital and Neuberger Berman. Prior to joining the investment management industry, Patrick worked as an environmental engineer at CDM Smith.

Patrick earned a B.E. in civil engineering and a M.E. in environmental engineering from The Cooper Union for the Advancement of Science and Art. He holds the Chartered Financial Analyst (CFA) designation.

There are risks associated with investing in mutual funds that invest in securities of foreign countries, such as erratic market conditions, economic and political instability and fluctuations in currency exchange rates. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.

An investor should read and consider the funds' investment objectives, risks, charges and expenses carefully before investing in the IVA International Fund or IVA Worldwide Fund. This and other important information are detailed in our prospectus and summary prospectus, which can be obtained by calling (866) 941-4482 or clicking here. Please read the prospectus and summary prospectus carefully before you invest. The IVA Funds are offered by IVA Funds Distributors, LLC.

Any statistics contained herein have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed.