Broad Run Investment Management Q4 Investor Letter

Broad Run Investment Management is an Arlington, Virginia-based investment management firm. In its Q4 investor letter, Broad Run reported that the Focus Equity Composite returned 20.2% net of fees for the year ended December 31, 2017, compared to 21.1% for the Russell 3000 Index.

Meanwhile, for the fourth quarter, the composite returned 6.0% net of fees, compared to 6.3% for the Russell 3000 Index, according to the investment firm.

Broad Run was founded in 2012 by Brian Macauley, David Rainey, and Ira Rothberg, its principal owners and portfolio managers. As of December 31, 2017, the firm had $3.3 billion in assets under management.

You can download a copy of the letter here.