"We are disciplined investors and adhere to a process that has worked well over long periods of time."

Mark A. Meulenberg, CIO

About Us

Masonry Capital is a boutique, value-oriented investment manager that employs a business owner’s mindset in identifying a broad range of opportunities overlooked by others. Our objective is to produce above-average returns for our partners via a conservative yet opportunistic approach to investing in publicly traded securities.

We seek out dislocations in the market and often invest in areas neglected by short-term oriented investors. Our investments are often misunderstood or viewed unfavorably as a result of temporary issues or misconceptions about the business and/or industry. Based on our experience and a long-term view we can distinguish between short-term issues and fundamental challenges facing a business and are able to identify a potential path that will lead to value realization.

We employ a convictions based approach that combines a concentrated, core group of quality businesses with a diverse selection of capacity constrained special situations that are less tied to general stock market performance.


Mark A. Meulenberg, CFA

Chief Investment Officer

Mark serves as Chief Investment Officer and Managing Partner of Masonry Capital Management.

Mark is responsible for the generation of investment ideas and the management of portfolios and also oversees the research and trading responsibilities related to this effort.

In January 2008, Mark joined VNB Wealth Management (predecessor firm) as a portfolio manager and research analyst. Immediately prior to joining the firm, Mark ran the long/short public equity portfolio for a multi-strategy hedge fund in Charlotte, NC. From 2000 to 2007, he worked within the investment management arm of Brown Brothers Harriman & Co. During his time with the firm, he served as a member of the firm’s Investment Policy Committee for three years and was the Chairman of the Committee until his departure. Prior to joining Brown Brothers Harriman & Co., he worked for U.S. Trust Company as a Portfolio Manager. Mark began his career in investment management with Sanford Bernstein & Co. Inc. and left the firm as an Associate Portfolio Manager.

Mark graduated from Cornell University with a B.S. in Applied Economics and Business Management in 1993 and is a Chartered Financial Analyst.



Clay J. Sefter

Managing Director

Clay serves as a Managing Director of Masonry Capital Management and contributes to both the investment management and business development efforts of the firm. 

In March 2022 Clay joined Masonry after serving five years as Vice President and Assistant Portfolio Manager at Charlottesville-based Chase Investment Counsel.  At Chase, Clay was an integral member of the investment team and assisted in idea generation and trading across the firm’s actively managed investment strategies.  He also led the Mid Cap Growth investment strategy for over two years and managed all fixed income investments for clients in balanced accounts.  Prior to joining Chase in 2016, he spent six years as a senior analyst with healthcare financial consulting firm CDR Associates, and two years as a staff accountant with Grossman Yanak & Ford, a public accounting firm based in Pittsburgh, PA.   

Clay earned his B.S. in Business Administration and Accounting from Geneva College, located in Beaver Falls, Pennsylvania, and has passed Level 1 of the CFA exam. 



Jeff Beck

Managing Director

Jeff Beck, Managing Director

Jeff serves as a Managing Director of Masonry Capital Management and contributes to the business development efforts of the firm.  In December of 2022, Jeff joined Masonry Capital after serving fifteen years with R6 Capital Group, an alternative investments placement firm. Prior to that, Jeff consulted to a prominent hedge fund focused on industrial and cyclical equities. Jeff began his career at the boutique brokerage firm of Anderson & Strudwick in 1985, followed by institutional equity sales positions at Ferris Baker Watts and BB&T Capital Markets.

In 1992, Jeff also founded the sports management firm, Proformance, which specializes in professional baseball representation. Jeff graduated from Virginia Tech in 1985 with degrees in Business Management and Marketing.



Brief History

In March of 2000, Virginia National Bank began managing investments for private clients, endowments and foundations utilizing a catalyst-driven, value-based strategy, through its trust division. The central tenets of that approach continue today through Masonry Capital Management.

In 2018, Virginia National Bankshares Corporation, a bank holding company, formed Masonry Capital as a wholly-owned subsidiary that operates as a registered investment advisor.