Our Team


Karen L. Brethauer


CFA® , CIC, Managing Director

Karenb@ha-llc.com

Ms. Brethauer began her investment career at Hotchkiss Associates in 1979 after completing her bachelor's degree in Finance at The University of Illinois at Urbana/Champaign.

She earned her M.M. after attending Northwestern University's Kellogg Graduate School of Management's night program.


Jack W. Marringa


CFA® , Managing Director

Jmarringa@ha-llc.com

Mr. Marringa began his career at Hotchkiss Associates as an equity analyst focused on the health care industry before adding his portfolio management responsibilities.

He graduated with honors from Northwestern University with a B.A. in Economics and also studied at the Universite Stendhal in Grenoble, France. He graduated with distinction from the Graduate School of Business at the University of Chicago with an M.B.A. in Finance. Mr. Marringa is a CFA®  charterholder and a member of the Investment Analysts Society of Chicago


Gail L. Thomas



Vice President, Trading and Operations

Gthomas@ha-llc.com

Ms. Thomas joined Hotchkiss Associates in 1980. She oversees all trading and operations for the firm in addition to supervising the firm’s technology and portfolio management systems.

Ms. Thomas is a graduate of the University of Illinois where she earned degrees in Political Science and Criminal Justice.


Nathaniel J. Klein



Research Analyst

Nklein@ha-llc.com

Mr. Klein joined Hotchkiss Associates in 2007 as a research analyst and focuses on the software, media, and internet sectors. Prior to joining Hotchkiss, he worked as an analyst at Lazard Freres and Co.

He graduated from Williams College with degrees in Economics and History and also studied at the University of Otago in Dunedin, New Zealand. Mr. Klein is a candidate for Level III of the CFA® exam.