Investment Management

Actively Managed Portfolios for High-Growth Capital Appreciation

Concentrated equity strategies across four proprietary SMAs — with tax-aware execution, disciplined rebalancing, and direct ownership through separately managed accounts.

4 Proprietary SMAs Innovation · Growth · Core · Low Vol

Wealth Management Solutions

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Investment Management

In-House Portfolios Built to Outperform

Most advisors outsource your money to third-party fund managers, wrap it in a model portfolio, and call it investment management. You end up owning layers of funds, paying layers of fees, and holding positions you can't see, can't control, and can't tax-manage.

At Bull Run, every portfolio is managed in-house, built from individual equities, and held directly in your name at Charles Schwab. You own the stocks — not a fund that owns the stocks.

Four proprietary SMA strategies managed in-house, targeting specific risk-return profiles across high-growth and defensive equity

Individual tax-lot control for every position, enabling systematic tax-loss harvesting and gain deferral impossible inside fund wrappers

One transparent fee — no hidden fund costs, Schwab charges $0 commissions with no expense ratios layered on top

In-House

Managed by our team, not outsourced

Direct Ownership

Individual equities, not funds of funds

Tax-Aware

Lot-level harvesting & asset location

Fee-Only

No commissions, no hidden fees

Proprietary Strategies

Four SMA Strategies — One Unified Approach

Each strategy targets a specific return profile, risk level, and sector exposure. Your portfolio blends these strategies based on your risk tolerance — creating a personalized allocation that adapts as your life evolves.

25%+ Revenue Growth

Equity Innovation

Concentrated in 20–25 leading companies across AI, cloud, semiconductors, enterprise software, and cybersecurity.

Benchmarks: S&P 500, Nasdaq 100, BVP Cloud

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15–25% Revenue Growth

Equity Growth

High-growth companies with proven trajectories and expanding margins across technology, healthcare, and consumer sectors.

Benchmarks: S&P 500, Nasdaq 100

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12–15% Revenue Growth

Equity Core

Large-cap quality with sustainable advantages and resilient models. Foundation of most portfolios — designed to beat the S&P 500.

Benchmark: S&P 500

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7–12% Revenue Growth

Equity Low Volatility

Defensive, income-oriented companies with strong dividends and low beta. The stabilizer within multi-strategy allocations.

Benchmark: S&P 500

Explore Strategy

Your Wealth Dashboard

See Everything in Black Diamond

Every account, every holding, and your full performance history — updated daily in your BRIM-branded Black Diamond portal. The same institutional-grade platform used by firms managing billions.

bd3.bdreporting.com/BRIM

Good Afternoon

Michael & Sarah

Total Portfolio Value

$4,563,033

YTD Return

+28.4%

Unrealized G/L

+$2.3M

Realized G/L

+$510K

vs S&P 500

+6.5%

Top Holdings

NVIDIA CORP9.2%

COREWEAVE INC3.1%

MICROSOFT CORP2.3%

META PLATFORMS2.1%

ALPHABET INC2.1%

APPLE INC2.0%

Strategy Allocation

Equity Innovation30%

Equity Growth30%

Equity Core40%

Equity Low Vol0%

Net Worth

$4,563,033

Assets — $4,563,033

Joint Investment Account$652,903

Traditional IRA — Michael$495,249

Roth IRA — Sarah$999,303

401(k) Rollover — Michael$1,415,578

Liabilities — $0

No outstanding liabilities

Asset Breakdown

Joint — 14.3%

Trad. IRA — 10.9%

Roth IRA — 21.9%

401(k) — 31.0%

Holdings

All Accounts — 24 Positions

NameTickerValueWeightGain/Loss

NVIDIA CorpNVDA$419,7999.2%+187.4%

CoreWeave IncCRWV$141,4543.1%+42.1%

Microsoft CorpMSFT$104,9502.3%+68.2%

Meta PlatformsMETA$95,8242.1%+124.6%

Alphabet IncGOOG$95,8242.1%+91.3%

Apple IncAAPL$91,2612.0%+54.8%

Amazon.com IncAMZN$86,6981.9%+78.5%

Salesforce IncCRM$73,0091.6%+32.9%

Snowflake IncSNOW$68,4461.5%-8.3%

Palo Alto NetworksPANW$63,8821.4%+61.7%

Palantir TechnologiesPLTR$59,3191.3%+215.8%

Broadcom IncAVGO$54,7561.2%+142.3%

Performance Summary

Blended Portfolio vs Benchmarks

Year-to-Date

Portfolio

+28.4%

S&P 500

+21.9%

Nasdaq 100

+24.8%

1 Year

Portfolio

+34.7%

S&P 500

+26.3%

Nasdaq 100

+28.9%

3 Year (Annualized)

Portfolio

+38.2%

S&P 500

+18.1%

Nasdaq 100

+22.4%

Document Vault

Your Documents

2025 Q4 Performance Report

Jan 15, 2026

2025 Tax Summary

Jan 31, 2026

Form ADV Part 2A

Mar 1, 2025

Account Agreement

Jun 12, 2023

Risk Tolerance Questionnaire

Jun 12, 2023

Your Advisory Team

My Team

Chris Passarelli

Founder, CEO &
Portfolio Manager

Contact →

Brian Wendroff, CPA

Tax &
Accounting

Contact →

Bobby Feisee, Esq.

Estate &
Trust Planning

Contact →

View Your Technology

Investment Philosophy

How We Think About Investing

Our philosophy is rooted in fundamental analysis, revenue growth, and long-term compounding. We don't chase momentum, trade on headlines, or time the market. We identify exceptional businesses and own them through full market cycles.

Revenue-Growth Oriented

We target companies with accelerating revenue growth, expanding margins, and clear trajectories toward market dominance — the compounding dynamics that drive substantial long-term appreciation.

Fundamental Analysis

Every position is researched bottom-up: business models, competitive moats, management quality, unit economics, and total addressable market. We invest in businesses, not tickers.

Concentrated Conviction

Our strategies hold 20–30 positions — not 500. When we have high conviction in a company's trajectory, we size the position to make it matter in the portfolio.

Innovation Focus

We invest in sectors driving the next decade of economic growth — AI, cloud, semiconductors, cybersecurity, fintech, and enterprise software. These are structural transformations, not trends.

Tax-Aware Execution

Every trade considers the tax consequence. We harvest losses systematically, optimize asset location, and coordinate with your CPA before executing tax-sensitive transactions.

Long-Term Compounding

Our average holding period is measured in years, not weeks. We let winners compound and exit positions only when the thesis breaks or the risk-reward changes materially.

After-Tax Alpha

The Returns That Actually Matter

Pre-tax returns are vanity metrics. What matters is what you keep after taxes. Our direct-ownership model enables two powerful strategies that funds simply can't replicate.

Tax-Loss Harvesting

When individual positions decline, we sell at a loss to offset realized gains elsewhere in your portfolio — reducing your tax bill while maintaining market exposure through replacement securities.

Individual lot-level control — impossible inside fund wrappers

Losses offset gains across all accounts, including capital events

Excess losses carry forward indefinitely to offset future income

Coordinated with Brian Wendroff, CPA for optimal timing

Asset Location Strategy

Where you hold an investment matters as much as what you hold. We place high-growth, high-turnover strategies in tax-advantaged accounts and tax-efficient positions in taxable accounts.

Innovation & Growth SMA → Roth IRA for tax-free compounding

Core & Low Vol → taxable accounts for tax-efficient dividends

Traditional IRA → Growth strategies for tax-deferred compounding

Integrated with Roth conversion timing and bracket management

Risk-Based Allocation

Your Portfolio, Personalized to Your Risk Profile

After completing our risk tolerance assessment, you're assigned one of five profiles. Each maps to a specific blend of our four SMA strategies — balancing growth potential with downside protection.

Conservative

Bonds

50%

Low Vol

25%

Core

25%

Bonds 50%

Low Vol 25%

Core 25%

Mod-Conservative

Bonds

20%

Low Vol

30%

Core

50%

Bonds 20%

Low Vol 30%

Core 50%

Moderate

Low Vol

30%

Core

40%

Growth

30%

Low Vol 30%

Core 40%

Growth 30%

Mod-Aggressive

Core

40%

Growth

30%

Innov.

30%

Core 40%

Growth 30%

Innov. 30%

Aggressive

Growth

50%

Innov.

50%

Growth 50%

Innov. 50%

Personalized Recommendation

See How Your Portfolio Compares

Once you've completed our risk tolerance assessment, we build a comprehensive side-by-side analysis comparing your current holdings against our recommended BRIM allocation and the S&P 500 — powered by YCharts using our actual strategy performance data. You'll see exactly how your portfolio stacks up across every timeframe, risk metric, and growth scenario.

Your Current Portfolio

We analyze every holding, fee layer, asset allocation, and sector exposure in your existing accounts.

BRIM Recommendation

A custom-blended allocation across our four SMA strategies — matched to your risk profile and financial plan.

Side-by-Side Results

Performance, risk metrics, growth scenarios with monthly contributions, sector exposure, and more — all in one report.

Strategy Backtester Wealth Forecaster

Backtest our strategies against any benchmark, then project future growth with the Wealth Forecaster.

The Difference

Why Most "Investment Management" Isn't

Typical Advisor

The Outsourced Portfolio

Portfolio built from third-party ETFs and mutual funds — advisor doesn't select the stocks

Layered fees: advisory fee + fund expense ratios + trading costs inside the fund

No individual tax-lot control — you inherit embedded gains from other investors

Generic model portfolio — same allocation for every client at the same risk level

Investment decisions disconnected from tax strategy, estate plan, and financial goals

The BRIM Approach

In-House, Direct Ownership

Every stock selected and managed in-house — four proprietary SMA strategies

One fee: 1.50% advisory. Schwab charges $0. No fund expense ratios, no hidden costs

Individual tax-lot management — harvest losses, manage gains, optimize at the position level

Allocation personalized to your risk profile, then adjusted as life and goals change

Every trade coordinated with your CPA, estate attorney, and financial plan

Get Started

Ready to See What Real Investment Management Looks Like?

Schedule a complimentary consultation to discuss your portfolio, explore our four proprietary strategies, and see how in-house management with direct equity ownership can deliver better performance, lower costs, and full tax integration.

Schedule a Consultation Explore Our Strategies

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How May We Reach You?

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What is the Approximate Amount of Your Investable Assets?

Search Bull Run

Actively Managed Portfolios for High-Growth Capital Appreciation

Wealth Management Solutions

In-House Portfolios Built to Outperform

Four SMA Strategies — One Unified Approach

See Everything in Black Diamond

How We Think About Investing

The Returns That Actually Matter

Your Portfolio, Personalized to Your Risk Profile

See How Your Portfolio Compares

Why Most "Investment Management" Isn't

Ready to See What Real Investment Management Looks Like?

Questions? Seeking Further Insight?