National Securities Research analysts are experienced in following their specific industry and companies within that industry. The analysts provide quality research for institutions, the Firm's retail brokerage organization and National's investment advisory services. The Firm's focus is on mid-capitalization and small-cap companies with an emphasis on valuation within a particular sector of the market. At present, National Securities covers the Real Estate Investment Trust Industry (REIT's), Business Development Companies (BDC's) and segments of the Energy Industry. A brief background on each analyst and a list of the companies for which reports are available are shown on the website.
We invite prospective clients and existing customers to view and receive our research on the companies that we cover.
Our Research Analysts
Jonathan Aschoff, Ph.D. is a Managing Director and Senior Biotechnology Analyst.
Dr. Aschoff was a Managing Director and Senior Biotechnology Analyst at Brean Capital, LLC from 2003 to 2016. Prior to Brean, Dr. Aschoff held positions as a senior biotechnology analyst at Friedman Billings Ramsey & Co., Inc., senior analyst at what is now RBC Dain Rauscher, Inc. and also served as an analyst at Sturza Institutional Research. Prior to beginning his career on Wall Street, Dr. Aschoff earned his Ph.D. in Molecular Biology and Microbiology as well as his B.S. in Biology at Tufts University.
John Benda is a Senior Equity Research Analyst covering REITs with a focus on the Multifamily Rental REITs (MF REITs) sector. Previously, Mr. Benda was at Susquehanna International Group where he covered homebuilders, mortgage insurers and single-family rental REITs. Mr. Benda also worked in corporate finance at K. Hovnanian Enterprises, a national homebuilder, and began his career in middle-market commercial lending at TD Bank. John earned his BBA in Finance from The George Washington University, and is a 2014 CFA Level III candidate.
Glenn Williams Jr. is an Equity Research Analyst covering the Exploration and Production (E&P) sector. Previously Mr. Williams was a Research Associate at Casimir Capital, where he produced research on energy transactions, and an Analyst at Sidoti & Company, where he covered small and micro cap E&P stocks. Mr. Williams holds an MBA in Finance from Temple University, and holds a B.S. from Penn State University where he studied real estate and economics.
Christopher Testa joined National Securities in September 2014 as an equity research analyst covering Business Development Companies (BDC's). Prior to being employed at National, Chris worked in equity research at Sidoti & Company, LLC covering mortgage and specialty finance. His career began at Boston Provident, LP a long/short hedge fund specializing in financial services companies where Chris focused primarily on banks, mortgage servicers, and REITs (both equity & mortgage). Chris holds an M.S. in Finance from Pace University, Lubin School of Business and a B.S. from Pace University.
Ilya Grozovsky is a Sr. Equity Analyst covering the Technology sector. Ilya’s focus on technology includes software, cloud computing infrastructure and applications.
Ilya is a seasoned analyst with over 15 years of experience on both the sell-side and the buy-side, working for firms such as ING, JP Morgan, SoundView Technology Group, MAC Investment Management, and Morgan Joseph & Co. He holds the FINRA Series 7, 63, 86, and 87 licenses and received his Bachelor of Arts in Economics from the University of Maryland.