Disciplined global value manager focused on finding advantageous risk-reward opportunities

Managed Asset Portfolios is an independent SEC-registered investment advisory firm with a commitment to global value investing. With successful beginnings as a single-family Investment office for one of the wealthiest families in North America, we opened our doors to outside investors in 2001. Today, we proudly service families, family offices and institutions.

Michael Dzialo, President & CIO, founded Managed Asset Portfolios in 2000 as the investment arm of a single-family office for a Forbes 400 individual. Michael Dzialo, Karen Culver, and Pete Swan (Portfolio Management Team) have worked together for more than 25 years.


MAP is a global value manager focused on finding the best opportunities across all market capitalizations in U.S., international and emerging market equities.

  • Investment Strategy
    Our strategy is designed to protect capital during drawdowns which serves as the foundation for our strong risk-adjusted returns.
  • Global Value Manager
    We are focused on finding the best opportunities across all market capitalizations in U.S., international and emerging market equities.
  • Portfolio Diversification
    Portfolio is highly concentrated with ideas sourced using fundamentals, a thematic overlay and our catalyst-driven process.
  • "We eat what we cook"
    We invest alongside our clients.

Value-Driven & Long-Term Oriented

Our Philosophy and Process

Our investment process reflects our fiduciary duty to place our clients’ interests ahead of our own and includes taking time to learn about their needs and circumstances which can include investment objectives, risk tolerance, time horizons, cash flow requirements, tax issues and other assets. We then put forth our best thinking to develop, implement and continually evaluate an investment program. The end result of our process is a portfolio that is structured to help achieve our clients' goals.

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Proven Track Record

MAP has been awarded multiple PSN Manager of the Decade awards giving our firm a proven record.*

We are a global value manager with a proprietary investment process combining bottom-up fundamental analysis with a thematic macro-overly.

A focus on catalysts helps us avoid value traps.

* Awards and recognitions by unaffiliated financial publications should not be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if MAP is engaged, or continues to be engaged to provide investment advisory services, nor should they be construed as a current or past endorsement of MAP or its representatives. Rankings are generally based upon information prepared and/or submitted by the recognized advisor. You should not make an investment based solely upon any such award. Past performance is no guarantee of future results. MAP did not pay a fee for inclusion on any award or recognition list. The awards and recognitions presented represent a sample of recent third-party ratings.
The material provided is for information only and is not an offer or recommendation to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. This content is intended for use by qualified investment professionals. Please consult with an investment professional before making any investment decisions using this content.

Portfolio Management

Michael S. Dzialo

President & Chief Investment Officer
35+ Years of Investment Experience


Michael’s leadership and entrepreneurial spirit, grounded in more than 30 years of investing experience, was instrumental in the founding of Managed Asset Portfolios and the building of a successful and growing team – the backbone of the firm’s current and continued success. Michael leads the Portfolio Management team, guides the strategic direction of MAP and sets the tone for our culture of excellence.

Before founding MAP in late 2000, Michael was the Director of Research for OLDE Financial Corporation, once one of the nation’s largest discount brokerage firms. He also served on OLDE’s management committee and Board of Directors. After the sale of OLDE to H&R Block in 1999, he served as the Head of Asset Management for H&R Block Financial Advisors.

Michael studied at Wayne State University, earning a Bachelor’s degree in Finance. He stayed on at Wayne for his graduate courses and currently sits on the Board of the Business School’s Student Investment Fund. Michael is a frequent speaker at regional and national client and industry events.

Karen M. Culver

Senior Portfolio Manager
31+ Years of Investment Experience


Karen joined MAP in 2001. As a member of the Portfolio Management team, she shares responsibility for researching new investment ideas as well as current portfolio holdings with a focus on health care, consumer, retail, utility sectors, among others. By focusing on potential growth drivers and cash flows, she examines the financial conditions of companies around the globe. Karen also assists in the interpretation and projection of market and economic conditions and utilizes this data in the analysis of companies in her universe and overall firm portfolios.

Prior to joining MAP in 2001, Karen worked for a New York Stock Exchange member firm for ten years and worked in the Research Department analyzing primarily consumer brand and entertainment industry securities.

Karen has a Bachelor’s degree in Finance from Wayne State University.





Peter J. Swan

Portfolio Manager, International Equities
29+ Years of Investment Experience


Pete joined MAP in 2002 as a Senior Portfolio Manager. With a sincere passion for the markets and thorough knowledge of financial analysis, business development, strategic planning and capital markets, Pete focuses on analyzing International Equities.

Before joining MAP, Pete was an Equity Analyst with Pacific Growth Equities, a brokerage firm and investment bank, where he worked on publishing research reports, modeling and forecasting corporate results along with working with both private and public firms. He was also an Equity Research Analyst at OLDE Financial Corporation. His securities industry career began at First Midwest Securities in 1992.

Peter has a Bachelor’s degree in Business Administration with a concentration in Finance as well as a degree in Agriculture from the University of Arkansas.




Zachary S. Fellows CFA

Portfolio Manager & Senior Research Analyst
8+ Years of Investment Experience


Zachary joined MAP in 2015. As Portfolio Manager/Senior Research Analyst, he is responsible for researching and analyzing companies, sectors and economic trends.

Before joining Managed Asset Portfolios, Zack worked in the retail and automotive industries. He earned a Bachelor’s degree in Finance from Wayne State University where he graduated with Summa Cum Laude honors.

He is a Chartered Financial Analyst (CFA), member of the CFA Society of Detroit and Registered Investment Advisor Representative.



John F. Dalton CFA

Assistant Portfolio Manager
30+ Years of Investment Experience


John has over 30 years of industry experience and joined MAP’s Portfolio Management team in 2006. He also services a select number of MAP’s Chicago area clients.

Previously, John worked for H&R Block Financial Advisors (formerly OLDE Discount Corporation) servicing approximately 150 families and institutions as well as managing large investment and servicing teams in Oak Lawn and Glenview, IL.

John earned a Bachelor’s degree with a Finance specialization from Marquette University and an MBA from the University of Chicago. He is a Chartered Financial Analyst (CFA), member of the CFA Society of Chicago and Registered Investment Advisor Representative.

Nicolas A. Vilotti

Junior Research Analyst
1+ Years of Investment Experience


Nicolas joined MAP in 2022. As a Junior Analyst, he shares responsibility for discovering new investment ideas by leveraging his knowledge in data analytics and identifying economic trends.

Before joining MAP, Nicolas served on the Executive Board for the Economics and Investment organizations at Oakland University. He earned a Bachelor’s degree in Economics with a minor in Business Analytics from Oakland University where he graduated with Summa Cum Laude honors.

Nicolas is a Registered Investment Advisor Representative.





MAP is independently-owned with incentives for key employee retention.


Disciplined value managers focused on finding attractive risk/reward opportunities globally



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Managed Asset Portfolios | Rochester MI | Investment Management Service | Financial Consultant

950 W. University Drive, Suite 100 Rochester, MI 48307
(248) 601-6677

Managed Asset Portfolios, LLC is registered as an investment advisor with the United States Securities and Exchange Commission (SEC). Registration as an investment advisor with the SEC is not an endorsement and does not imply any level of skill or training. ‍

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