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Fulton Breakefield Broenniman LLC
Fulton Breakefield Broenniman LLC, operating as FBB Capital Partners, is an independent registered investment adviser based in Bethesda, Maryland, United States. Founded in 1999, the firm specializes in serving high net worth individuals and families, charitable organizations, and select institutional clients. With 21 employees as of 2025, FBB provides comprehensive investment and wealth management solutions, focusing on personalized service and tailored financial strategies for long-term asset growth.
Investment Strategy
FBB Capital Partners pursues a disciplined investment strategy centered on long-term growth and capital preservation. The firm primarily serves high net worth individuals, families, and charitable entities, constructing diversified portfolios with a blend of equities and fixed income securities. Investment decisions are guided by fundamental analysis, risk management principles, and an emphasis on high-quality, market-leading companies. FBB leverages discretionary management and customizes strategies to align with each client's financial objectives, tax situation, and risk tolerance.
Latest 13F Filing Activity
Fulton Breakefield Broenniman LLC filed their most recent 13F report on Sep 30, 2025 disclosing 203 equity positions with a total 13F market value of $2B. The fund increased holdings in Ishares TR, Apple Inc., Alphabet Inc. among other positions. Fulton Breakefield Broenniman LLC reduced exposure to Roper Technologies Inc., Salesforce Inc., Marsh & Mclennan Cos Inc. among others.
Top Holdings
Equity Positions (203)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
I IVV | ISHARES TR | 8.75% | $135.5M | 202,441 | $469.63 | $669.30 | +$22.6M |
M MSFT | MICROSOFT CORP | 6.02% | $93.2M | 179,856 | $107.30 | $517.95 | +$3.6M |
A AAPL | APPLE INC | 5.79% | $89.7M | 352,083 | $144.83 | $254.63 | +$19.2M |
| ALPHABET INC | 4.12% | $63.8M | 262,525 | $60.35 | $243.10 | +$17.0M | |
A AMZN | AMAZON COM INC | 4.04% | $62.6M | 284,980 | $123.90 | $219.57 | +$105.7K |
Industry Allocation
Investment Team (12)
| Name | Role | Location | |
|---|---|---|---|
D David Malmgren | Senior Portfolio Manager | Washington, DC , United States | |
 | Senior Portfolio Manager | Rockville, MD , United States | |
 | Portfolio Manager | Washington, DC , United States | |
K Kathleen Hastings | Vice President, Portfolio Manager | Washington, United States | |
 | Portfolio Manager | Bethesda, MD , United States | |
 | Senior Portfolio Manager | Bethesda, MD , United States | |
 | Portfolio Manager | Bethesda, MD , United States | |
 | Portfolio Manager | Easton, MD , United States | |
 | Portfolio Manager | Washington, DC , United States | |
 | Equity Research Associate | Washington, DC , United States |
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