Brave Warrior’s investment strategy focuses on clients investing in a limited number of long
equity positions. Investments are made in demonstrably healthy businesses that Brave Warrior
believes will be successful in the long-term. Brave Warrior endeavors to buy at prices that will
protect clients’ capital from substantial erosion should fundamentals diverge from expectations.
Clients’ assets under management are invested in securities chosen entirely at the discretion of the
Advisor (provided that a client may specifically request that their account not be invested in a
particular security for legal or special concerns) after the Advisor explains its investment approach
and ascertains that the client is generally prepared to invest at least $5 million as a long-term
investment in the equity markets without specialized needs that would require modification of the
portfolio of stocks.
Brave Warrior was founded in 2009 and is solely owned by Glenn H. Greenberg (the “Principal”).
Effective as of October 14, 2022, Glenn H. Greenberg established 281 DBE LLC and since March 2,
2023, he currently provides his services as Chief Investment Officer and other portfolio management
services through 281
DBE LLC to Brave Warrior. While the services are now provided through an
entity, there has not been any change of control of the ownership of Brave Warrior, which continues
to be owned by Glenn H. Greenberg. Glenn H. Greenberg continues to exercise the day-to-day control
of Brave Warrior. 281 DBE LLC now has responsibility for the investment decisions for Brave
Warrior. As of December 31, 2023, Brave Warrior managed approximately $5,235,785,937 of
regulatory assets under management on a discretionary basis on behalf of approximately 284
accounts.
Clients of Brave Warrior include Separately Managed Account (“SMA”) Clients and Private Fund
Clients, which include the Brave Warrior Ranger Accredited, LP, Brave Warrior Ranger Fund (BVI)
Ltd, Brave Warrior Ranger Fund, LP and Brave Warrior Ranger Qualified, LP, collectively, the
“Private Funds”. The Private Funds were formerly known as the AVM Ranger Accredited, LP, AVM
Ranger Fund (BVI) Ltd, AVM Ranger Fund, LP and AVM Ranger Qualified, LP, and were sub-
advised by Brave Warrior from June 2020 through March 2021 on behalf of Arlington Value Capital,
LLC. The SMA Clients and Private Fund Clients are collectively referred to in this brochure as the
“Clients.”