Bull Run Investment Management LLC

Bull Run Investment Management LLC provides discretionary portfolio management, pension consulting, subadviser services, and financial planning to individuals, high-net-worth individuals, and pension/profit-sharing plans. The firm discloses approximately $57.3 million in assets under management and prepares an individualized Investment Policy Statement for each client.

The firm combines fundamental and technical analysis and implements both long- and short-term trading, including short sales and margin transactions, and uses a range of investment vehicles such as mutual funds, ETFs, REITs, annuities, and private placements. BRIM requests discretionary trading authority, documents client risk tolerances, and notes that margin balances are included in advisory-fee calculations and that certain ETF exposures may involve derivatives or leverage.

Compared with many peers, BRIM’s brochure highlights several less-common elements: explicit disclosure of its assets under management and performance-related language, use of margin and short sales in managed accounts, and fee-sharing arrangements with third-party managers and a written solicitor agreement with an accounting firm (including a disclosed 30%/25% fee split pending registration). The brochure also states BRIM requires custody at Charles Schwab & Co., describes potential soft-dollar/research benefits received from the custodian, and discloses related conflicts and mitigation measures.