Bright Investments, LLC (“Bright Investments”) is an SEC registered investment adviser firm based in
Auburn, Alabama and organized as a limited liability company under the laws of Alabama.
Bright Investments, LLC has been in business since 2015 to manage institutional and private client
assets. Bright Investments LLC is wholly owned by Bright Holdings, LLC, a 100% employee-owned
entity. The mission at Bright Investments is to deliver financial performance to our clients while
maintaining focus on our fiduciary duty to always put client needs ahead of our own.
John F. Bright owns 63% of Bright Holdings.
Thomas M. Kucera owns 21% of Bright Holdings.
Sarah J. Zink owns 8% of Bright Holdings.
Three other individuals own less than 3% of Bright Holdings.
Full details of the education and business background of Managing Members is provided in the Disclosure
Supplements, provided separately.
Our investment objective is long-term total return through capital appreciation and dividends. Bright
Investments is focused on delivering investment performance for its clients through a combination of careful
equity selection and attention to valuation.
Introduction
The investment advisory services of Bright Investments are provided to you through an appropriately
licensed and qualified individual who is an investment adviser representative of Bright Investments (referred
to as your investment adviser representative throughout this brochure).
Description of Advisory Services
The following are descriptions of the primary advisory services of Bright Investments. Please understand
that a written agreement, which details the exact terms of the service, must be signed by you and Bright
Investments before we can provide you the services described below.
Asset Management Services – Bright Investments offers asset management services, which involves
Bright Investments providing you with continuous and ongoing supervision over your specified accounts.
We offer discretionary and non-discretionary accounts to clients.
Bright Investments will provide you with the account opening paperwork and assist you with the account
opening process. During the account opening process, you must appoint our firm as your investment
adviser of record on specified accounts (collectively, the “Account”). The Account consists only of separate
account(s) held by the qualified custodian, under your name. Bright Investments utilizes Shareholder
Services Group/Pershing as the qualified custodian (referred to as “custodian” hereafter). The custodian
maintains physical custody of all funds and securities of the Account, and you retain all rights of ownership
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(e.g., right to withdraw securities or cash, exercise or delegate proxy voting and receive transaction
confirmations) of the Account.
The Account is managed by us based on your financial situation, investment objectives and risk tolerance.
We actively monitor the Account and provide advice regarding buying, selling, reinvesting or holding
securities, cash or other investments of the Account.
We will need to obtain certain information from you to determine your financial situation and investment
objectives. You will be responsible for notifying us of any updates regarding your financial situation, risk
tolerance or investment objective and whether you wish to impose or modify existing investment restrictions;
however, we will contact you at least annually to discuss any changes or updates regarding your financial
situation, risk tolerance or investment objectives. We are always reasonably available to consult with you
relative to the status of your Account. You have the ability to impose reasonable restrictions on the
management of your accounts, including the ability to instruct us not to purchase certain securities. Such
instructions/restrictions must be received by us in writing.
It is important that you understand that we manage investments for other clients and may give them advice
or take actions for them or for our personal accounts that is different from the advice we provide to you or
actions taken for you. We are not obligated to buy, sell or recommend to you any security or other
investment that we may buy, sell or recommend for any other clients or for our own accounts.
Conflicts may arise in the allocation of investment opportunities among accounts that we manage. We
strive to allocate investment opportunities
believed to be appropriate for your account(s) and other accounts
advised by our firm among such accounts equitably and consistent with the best interests of all accounts
involved. However, there can be no assurance that a particular investment opportunity that comes to our
attention will be allocated in any particular manner. If we obtain material, non-public information about a
security or its issuer that we may not lawfully use or disclose, we have absolutely no obligation to disclose
the information to any client or use it for any client’s benefit.
Project-Based Financial Planning (Hourly) - Project-based financial planning includes an evaluation of
a client’s current and future financial state by using currently known variables to estimate future cash flows,
asset values and withdrawal plans. Once the information is reviewed, we conduct various analyses and
discuss the findings with the client. Ultimately, the client will receive a written or electronic report, providing
the client with a detailed financial plan designed to help achieve his or her stated financial goals and
objectives. The client is under no obligation to act upon our recommendations. As a client considers the
financial plan and whether to proceed with some, all, or none of them, we want to point out that a conflict
exists between the interests of our firm and the client. If the client elects to act on any of the financial plan
recommendations, the client is under no obligation to open an account at Bright Investments or affect the
recommended transactions through our firm.
Limits Advice to Certain Types of Investments
Bright Investments provides investment advice on the following types of investments:
Exchange-listed Securities, such Stocks and Equity Securities
Securities/Stocks Traded Over-the-Counter
Foreign Issues traded on U.S. exchanges
U.S. Government Securities and other Fixed Income (e.g. Bonds) Securities
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Registered Investment Companies, such as mutual funds
Electronically Traded Funds (ETFs)
Private Funds
Although we generally provide advice only on the products previously listed, we reserve the right to offer
advice on any investment product that may be suitable for each client’s specific circumstances, needs,
goals and objectives.
It is not our typical investment strategy to attempt to time the market, but we may increase cash holdings
as deemed appropriate based on your risk tolerance and our expectations of market behavior. We may
modify our investment strategy to accommodate special situations such as low basis stock, stock options,
legacy holdings, inheritances, closely held businesses, collectibles, or special tax situations.
(Refer to Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss for more information.)
Tailor Advisory Services to Individual Needs of Clients
Bright Investments’ advisory services are always provided based on client needs. This means, for example,
that when we provide asset management services, you are given the ability to impose restrictions on the
accounts we manage for you, including specific investment selections and sectors. We work with you on a
one-on-one basis through interviews and questionnaires to determine your investment objectives and
suitability information.
We will not enter into an investment adviser relationship with a prospective client whose investment
objectives may be considered incompatible with our investment philosophy or strategies or where the
prospective client seeks to impose unduly restrictive investment guidelines.
In consultation with your Investment Advisor Representative (IAR), a portion of your portfolio will be held in
cash, cash equivalents or money market funds as part of the overall investment strategy for the account.
Depending on your IAR’s investment outlook or strategy, these cash balances can be high and represent
a material portion of your overall portfolio. Cash and cash equivalents, including money market funds, are
subject to your advisory fee. Clients should understand that the advisory fees charged on these balances
may exceed the returns provided by cash, cash equivalents or money market funds, especially in low
interest rate environments. You should discuss such strategies with your IAR to ensure your full
understanding.
Client Assets Managed by Bright Investments
As of December 31, 2023, assets under management were $131,950,992.88