CLAUDE  C.  CODY IV, CFA
Senior Vice President
Fixed Income Portfolio Manager


Claude Cody began his investment career in 1976 as a securities analyst for American General Insurance Company in Houston. Later he was promoted to portfolio manager in the equity department. After American General, Mr. Cody managed fixed income and equity portfolios for a variety of financial institutions that included pension funds, savings institutions, insurance companies and mutual funds. He was also a Senior Portfolio Manager at AIM Management and was responsible for the AIM Balanced Fund. Mr. Cody has lectured at Boston University, Rice University and the University of Houston.

MELVILLE  L.  CODY
Senior Vice President
Equity Portfolio Manager


Mel Cody has over twenty years experience as a securities analyst and portfolio manager. Mel’s background includes both buy side money management organizations and the sell side, where he worked at Sanders Morris Harris for approximately 10 years as Vice President of Institutional Research. On the buy side, Mel has worked at well-known financial institutions such as USAA Investment Management Company, a mutual fund group, and at American General as a portfolio manager and analyst. Over the years, he has covered a variety of industries including emerging growth, technology, consumer products and environmental/industrial process industries. Mel has been quoted frequently in national financial publications such as Forbes and the Wall Street Journal and has been selected by the Wall Street Journal as an “All Star Analyst.”

EDWARD  L.  JAROSKI
President & Founder, CEO
Fixed Income Portfolio Manager

Ed co-founded the firm and serves as President and CEO. He is a member of the Investment Committee and a Fixed Income Portfolio Manager. Ed began his career in 1969 with Philadelphia Life Insurance Company as Manager of Investments and in 1980 became Vice President of Finance. Ed helped to form Tenneco Financial Services in 1981, the predecessor organization to Capstone, and served as Executive Vice President. Ed has earned the professional designations of Chartered Life Underwriter (CLU), Charter Financial Consultant (ChFC) and Fellow Life Management Institute (FLMI).

THOMAS  G.  SEVERSON
Senior Vice President - Investments
Equity Portfolio Manager


Thom is a member Capstone’s Investment Team. He manages Capstone’s Theta Growth covered call portfolio and the Tactical Asset Allocation Portfolios. Thom began his investment career in 1987 as an option clearing specialist, and has taught several classes on option theory and risk management. Since 1993, Thom has traded commodity futures and options for several major oil and private trading companies. In these capacities, he has built an expertise in derivatives as a proprietary trader and portfolio risk manager.

JOHN  R.  WOLF
Senior Vice President - Investments
Equity Portfolio Manager


John serves as Senior Vice President and Equity Portfolio Manager in addition to being a member of the Investment Committee. He is primarily responsible for managing quantitative based equity portfolios often involving social values screening for various institutions and mutual funds. John’s financial services career began in 1983 with The Dreyfus Corporation and subsequently moved on to Oppenheimer Capital in 1987 as an accounting manager supervising both equity and fixed income mutual funds. In 1992, he joined New Castle Advisers, a boutique investment advisor specializing in fixed income portfolio strategies which was acquired by Capstone in 1996.

PATRICK N. GARBODEN
Vice President – Investments
Fixed Income Portfolio Manager, Municipal Bonds


Pat serves as Vice President and Fixed Income Portfolio Manager in addition to being a member of the Investment Committee. He brings nearly 28 years of experience within the financial services industry including 19 years with Smith Barney. His broad financial background consists of serving as First Vice President, Branch Manager for 11 years and as an Investment Management Specialist/Portfolio Manager with the Consulting Group, a division of Citigroup Global Markets, Inc. Prior to joining Smith Barney, Pat was a general partner in the financial services firm of Jones, Humphrey, Garboden and Company. Pat holds multiple licenses and designations.