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Bull Run Investment Management · McLean, Virginia

High-Growth wealth management, built for individuals & families, business owners, and financial advisors.

We build concentrated portfolios of individual stocks, companies growing revenue 25% or more a year. The goal is simple: beat the S&P 500 over a full market cycle, not track it.

Find your portfolio fit Schedule a call
Start with the fit questionnaire. Talk to a real person whenever you want.

You get a dedicated portfolio manager. Your advisor stays your advisor.

Bull Run runs four proprietary equity strategies through Charles Schwab's Managed Account Marketplace. We handle the research, the trading, and the day-to-day portfolio. Your advisor keeps doing what you hired them for: the plan, the advice, and the relationship.

Evaluate the SMA platform View live performance
Gross and net daily data, published for your diligence.

Your advisor. Your account. Bull Run's investment management.

Your financial advisor remains your primary relationship. Bull Run manages the selected strategy inside an account held in your name at Charles Schwab, with direct ownership of every position and full transparency.

Understand the strategy See how the account works
Full visibility into every holding, every day.

01 · Built to outperform

What does a Bull Run portfolio look like?

A blend of our four strategies, matched to your risk tolerance. Every blend is designed to beat its benchmark over a full market cycle, not to copy it. Slide to see how the mix changes.

Fee-only fiduciary Held at Charles Schwab Direct stock ownership Daily transparency Founder-led management
Portfolio architecture Moderate
StabilityMaximum growth
Illustrative allocation families only. Not a recommendation. Find your fit

01 · Inside your existing workflow

How do you add Bull Run on Schwab?

Four steps inside the Schwab workflow you already use. No repapering, no custodial change, and no wholesaler in the middle.

Schwab Marketplace 0.50% standard manager fee Four proprietary SMAs Direct ownership You remain the advisor
Implementation at Schwab
1
Find Bull Run on Schwab MarketplaceSearch the Managed Account Marketplace inside your existing workflow.
2
Select the strategyOne mandate or a blend of sleeves across accounts.
3
Open or assign the accountThe account stays in your client's name at Schwab.
4
Fund it. Bull Run manages.Research, trading, rebalancing, and monitoring are on us.
You keepClient relationshipPlanningAdvisory fee
We runResearchTradingRebalancingMonitoring

01 · Two relationships, one account

Who does what.

Your advisor manages the plan. Bull Run manages the mandate. Schwab holds the account in your name.

Account in your name Held at Charles Schwab Direct stock ownership Full visibility
Who does what
Your advisorPrimary relationshipFinancial planningAllocation oversight
Bull RunPortfolio managementTradingMonitoring
SchwabCustody of your accountStatementsOnline access
Fee-onlyWe are paid only by our clients, through one clear advisory fee. Never by commissions.
FiduciaryWe are legally required to act in your best interest.
Charles SchwabYour accounts are held in your name at an independent custodian.
Direct ownershipYou own the individual stocks, not a pooled fund.
Daily transparencyYou can see every holding and every trade, every day.
Founder-ledThe person who built the strategies is the person managing your money.
Four SMAsFour strategies, one research philosophy, across the growth and volatility spectrum.
Schwab MarketplaceImplemented inside the advisor workflow you already use.
0.50% manager feeA standard portfolio-management fee, disclosed and billed separately.
Live performanceDaily gross and net data, published with full methodology.
Public due diligenceFact sheets, process, and data, published for your review.

02 · In plain English

What is a fee-only financial advisor?

Advisors get paid one of three ways, and the difference decides whose interests come first. Here is the plain version. Bull Run is fee-only: we are paid by our clients and no one else.

Bull Run's model

Fee-only

Paid only by their clients.

How they're paid

One transparent advisory fee, usually a percentage of the assets they manage. Some fee-only advisors charge hourly or flat fees instead.

What they never take

No commissions, no sales loads, and no payments from funds, insurance companies, or product providers.

The standard

Fee-only investment advisers are fiduciaries. They are legally required to act in your best interest.

Why it matters

The only way a fee-only advisor earns more is if your account grows. The incentives point the same direction as yours.

Fee-based

Fees plus commissions.

How they're paid

An advisory fee, plus commissions on some of the products they recommend, like insurance or certain investments.

The catch

It sounds like fee-only, but it is not the same thing. The commission side creates conflicts of interest that a fee-only advisor does not have.

The standard

They can act as a fiduciary in one role and as a salesperson in another, depending on the product and the account.

What to ask

When are you acting as my adviser, when are you selling, and how are you paid in each case?

Commission-based

Paid by the products they sell.

How they're paid

Commissions on the investments and insurance products you buy. The advice can look free, because the products are paying for it.

The standard

They are held to a best-interest standard on each recommendation, which is not the same as an ongoing fiduciary duty to you.

What to ask

Would you still recommend this if it paid you nothing?

Bull Run is a fee-only, fiduciary investment adviser. You pay us one fee, we answer only to you, and everything we charge is disclosed in writing. If you take one question into any advisor meeting, make it this one: how do you get paid?

See Bull Run's fees Read the Form ADV

02 · The working relationship

You lead the relationship. We run the portfolio.

Two separate agreements, two separately disclosed fees, and one account in your client's name at Charles Schwab. Bull Run is the underlying money manager, never a competitor for the relationship.

The advisor keeps

Client relationshipFinancial planningCommunicationAllocation oversightAdvisory fee

Bull Run runs

ResearchPortfolio constructionTradingRebalancingMonitoringStrategy reporting
Shared rails Charles Schwab custodySeparate agreementsSeparate fee disclosureDirect client ownershipFull visibility
0.50%
Standard Bull Run portfolio-management fee
  • Your advisory fee is set by you and billed by you.
  • Bull Run's fee is documented separately and billed separately.
  • There is no revenue sharing between the firms.
  • Volume arrangements happen only where approved, in writing.
See how implementation works Download the due-diligence kit

02 · Two relationships, one account

Your advisor manages the plan. Bull Run manages the strategy.

Your advisor

Remains your primary relationship for planning, advice, allocation decisions, and every question about your broader financial life.

Bull Run

Handles research, trading, rebalancing, and monitoring for the selected strategy, under a separately disclosed portfolio-management fee.

Charles Schwab

Holds the account in your name. You keep your statements, your online access, and direct ownership of each security.

Your next step

Questions about strategy fit, fees, or timing belong with your advisor first. That is by design, and it protects you.

03 · Compounding, made visible

Why do a few percent a year matter so much?

Because compounding turns small differences into enormous ones. A portfolio growing 12% a year doubles roughly every six years. At 20%, it doubles roughly every three and a half. Pick a rate and watch what time does with it. The path is never smooth, but the math is real.

$
$
Illustrative annual return
%

Preset rates are the stated full-cycle objectives of the four Bull Run strategies. Objectives are not promises or forecasts.

Ending value$0
Total contributed$0
Investment growth$0
Multiple of start0x
12% selected

View the yearly data table
YearSelected rateComparisonContributed

What could disciplined compounding mean for your family?

Explore your portfolio fit

Show a client what the return assumption means over time.

Open the full Wealth Forecaster

Ask your advisor how return assumptions like these relate to your plan.

This is an illustration of constant annual compounding, not a forecast or a guarantee. Actual investment returns vary, can be negative, and do not occur in a straight line. The illustration does not account for every fee, tax, withdrawal, or sequence-of-returns effect. Strategy objectives are goals, not expected or promised returns. For strategy-specific historical data, fees, taxes, and contribution modeling, open the full Wealth Forecaster.

04 · The flagship, since day one

Top 0.75%
of 3,479 US-listed non-leveraged ETFs

Bull Run was built around this strategy, and it still carries the flag. Its total gross return ranks #27 among every non-leveraged ETF listed in the United States, measured since January 2023.

One of four strategies inside Bull Run portfoliosAvailable as an SMA on Schwab Marketplace
See the Innovation SMA How we calculate this
The full field, ranked #27 of 3,479
TrailingMedianLeading

See the proof — explore the full ranking →

05 · Proprietary management

Every portfolio is built and managed in-house.

Four strategies. One discipline.

We do not outsource to third-party strategists or fill portfolios with funds. We run four proprietary strategies of individual stocks, all managed directly by our founder and portfolio manager. Each one has the same mandate: beat its benchmark over a full market cycle. The difference between them is how much volatility you take on along the way.

Every strategy is run by the same research process and the same manager. What changes is how much growth the mandate reaches for, and how much volatility it holds on the way there.

The flagship

Equity Innovation

Concentrated exposure to transformative growth.

20%Full-cycle
objectiveHighest volatility
Revenue growth target25%+ a year
Current holdings–
Since Jan 2023–
vs S&P 500–
Since 2008 · annualized–
Gross of fees · Backtested + Live

Our flagship. 20 to 25 companies with projected revenue growth above 25%, built for maximum long-term growth.

Appears inMod. AggressiveAggressive
Explore the full strategy →

Equity Growth

Established growth compounders with room to run.

15%Full-cycle
objectiveElevated volatility
Revenue growth target15–25% a year
Current holdings–
Since Jan 2023–
vs S&P 500–
Since 2008 · annualized–
Gross of fees · Backtested + Live

Proven growth businesses still compounding revenue 15 to 25% a year, fast enough to pull away from the index.

Appears inModerateMod. AggressiveAggressive
Explore the full strategy →

Equity Core

Durable blue-chip franchises built to compound.

12%Full-cycle
objectiveModerate volatility
Revenue growth target12–15% a year
Current holdings–
Since Jan 2023–
vs S&P 500–
Since 2008 · annualized–
Gross of fees · Backtested + Live

The foundation. 25 to 30 durable blue-chip franchises that most client portfolios are built around.

Appears inConservativeMod. ConservativeModerateMod. Aggressive
Explore the full strategy →

Equity Low Volatility

Equity participation engineered for a smoother ride.

8%Full-cycle
objectiveManaged volatility
Revenue growth target7–12% a year
Current holdings–
Since Jan 2023–
vs S&P 500–
Since 2008 · annualized–
Gross of fees · Backtested + Live

The stabilizer. Steady, cash-generative companies, built for a smoother ride than the market.

Appears inConservativeMod. ConservativeModerate
Explore the full strategy →

Most clients hold a blend of strategies matched to their plan and risk tolerance. Objectives are goals over a full market cycle, not promised returns. Card figures are gross of fees and include backtested periods before each strategy's live date. Net figures, after the maximum 1.50% annual fee, are in the live panel below.Use a single mandate or blend sleeves across client accounts. Objectives are goals over a full market cycle, not promised returns. Card figures are gross of fees and include backtested periods before each strategy's live date. Net figures, after the maximum 1.50% annual fee, are in the live panel below.Your advisor selected the mandate that fits your plan. Objectives are goals over a full market cycle, not promised returns. Card figures are gross of fees and include backtested periods before each strategy's live date. Net figures, after the maximum 1.50% annual fee, are in the live panel below.

06 · Transparency

Where do these numbers come from?

From our public dataset of daily returns. Every chart here is computed in your browser from that dataset the moment the page loads. Nothing is typed in by hand. Change the window, flip the fee, and check us.

Growth of $100,000
Selected strategy vs. the S&P 500 · hypothetical growth · Backtested + Live
Loading…
As-of dateAlways visible
Gross or netYou control it
Live vs backtestedDrawn on the chart
MethodologyOne click away
Select your portfolio size — your tier’s fee applies to the whole model:
Total modeled fee: 1.50%

Returns before each strategy's live date are backtested: hypothetical results applied retroactively that do not represent actual client accounts. The dashed gold line on the chart marks the live inception date read from the published dataset. Net figures reflect the maximum 1.50% annual advisory fee; gross figures reflect no fees. The S&P 500 is an index that cannot be invested in directly. Past performance does not guarantee future results. Methodology · Full performance database

07 · Custody and control

Your money never becomes our money.

Custody your clients already trust.

The account stays yours. Always.

Bull Run never takes possession of client assets. The account sits at Charles Schwab in the owner's name, with direct ownership of every security and a limited trading authorization that can be revoked at any time.

Nothing changes about where client assets sit. Accounts remain at Charles Schwab in the client's name; Bull Run operates under a limited trading authorization on the selected account only.

The account owner

In control
  • Owns every security directly
  • Full statements and online access
  • Can revoke authorization at any time

Charles Schwab

Independent custodian
  • Holds the assets
  • Executes and settles trades
  • Reports directly to the owner

Bull Run

Limited authority
  • Manages the mandate
  • Trades within the authorization
  • Never takes possession of assets

Charles Schwab & Co., Inc. serves as an independent custodian for client accounts. Schwab is not affiliated with Bull Run Investment Management and does not supervise, endorse, or recommend its services.

08 · Beyond the portfolio

What do you get beyond the portfolio?

Everything wealth management is supposed to include: financial planning, tax strategy, estate coordination, and reporting. It runs on three specialist platforms and is coordinated by one advisor who answers for all of it.

1.InvestmentManagement2.FinancialPlanning3.RetirementPlanning4.TaxStrategy5.EstateCoordination6.Business OwnerAdvisory7.Philanthropy& Legacy8.RiskManagement THE BRIM Wealth Compass
Custody

Charles Schwab

Your accounts, your name, your statements. An independent custodian between you and everyone else.

Reporting

Black Diamond

Institutional-grade performance reporting and a consolidated portal across every account we manage.

See your technology
Planning

RightCapital

A living financial plan: retirement, taxes, cash flow, and what-if modeling, updated as your life changes.

See financial planning
Also under one roof Tax planning and preparation Estate and gift planning Insurance and risk Business owner advisory All wealth management

08 · Built for diligence

Everything you need to underwrite us.

Manager selection should not depend on a pitch deck. The data, the process, and the tools are public, so you can pressure-test Bull Run before a single client conversation.

Evaluate

Live performance database

Daily gross and net series for all four strategies, with methodology, benchmarks, and backtest labeling.

Open the database
Test

Strategy Backtester

Blend the strategies against benchmarks over any window and see how a proposed client portfolio would have behaved.

Run a backtest
Implement

Advisor resources

Fact sheets, the investment approach, and the paperwork path for Schwab's Managed Account Marketplace.

Get the resources
The Bull Run Investment Management office in McLean, Virginia
The Bull Run office · McLean, Virginia. Come see it in person.
Go deeper Investment approach Wealth Forecaster SMA platform overview

08 · What you can expect

Clear sightlines into your account.

Schwab reports directly to you with statements and online access. Your advisor coordinates your plan and your overall reporting. Bull Run manages the selected strategy and publishes its performance methodology publicly, so nothing about the mandate is a black box.

09 · What working together looks like

How does getting started work?

Introductory call

Thirty minutes on your situation, your questions, and whether the fit is real. No prep required.

Plan and proposal

A written picture of your finances, the recommended strategy blend, and the exact fee. In plain language.

Accounts at Schwab

Open or transfer accounts in your name. Assets move custodian to custodian, never through Bull Run.

Ongoing management

The portfolio runs daily. The plan updates as your life changes. You always see everything.

Schedule the introductory call See the full onboarding process

09 · From diligence to funded

Three steps to your first funded account.

Run your diligence

Performance database, methodology, fact sheets, and the backtester. Take as long as you need.

Marketplace paperwork

Standard Schwab Managed Account Marketplace agreements. We handle our side same-day.

Fund and manage

Assign the account, fund it, and Bull Run takes it from there. You stay in front of the client.

Open advisor resources

09 · Your next step

Take your questions to your advisor.

They know your full picture, and they chose Bull Run with it in mind. For independent reading, everything Bull Run publishes about the strategies is linked throughout this page.

CP

Founder-led, by design

"You should always know what you own, why you own it, and exactly what you are paying. Everything else about this firm follows from that."

Chris made his first investment at ten years old and never stopped. His career runs through institutional derivatives operations at Morgan Stanley, SMA and UMA strategy research for advisors at TD Ameritrade Institutional, and quantitative strategy research at a $400 million RIA. He founded Bull Run with partners in late 2019, and in 2023 he bought out his co-founders and took over the firm as its principal owner, so he could run money the way he always believed it should be run: transparently, directly, and with the manager's own conviction on the line.

Chris PassarelliFounder, Chief Executive Officer, and Portfolio Manager
Meet the team About Bull Run

Latest thinking

Our latest research.

All insights

The next step is a conversation

Ready when you are. It starts with one call.

A complimentary discovery call. Your questions, straight answers about fees and fit, and no obligation on the other side of it.

Find your portfolio fit Schedule a call instead

For your platform

Underwrite us. Then let's talk.

The data is public and the process is documented. When you are ready, the conversation is with the portfolio manager, not a wholesaler.

Review the SMA platform

In good hands

Talk with your advisor about Bull Run's role in your plan.

Prefer to read independently first? Bull Run's regulatory filings are public.

Read the Form ADV
Questions about fit or fees? Find your fit
Get in Touch

Questions? Seeking Further Insight?

Connect with our team to discuss your goals. No obligations, no pressure — just a straightforward conversation about how we can help.

Phone (703) 344-6844
Email info@bullrunim.com
Address 6731 Whittier Avenue, McLean VA, 22101
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