# APPLIED FUNDAMENTAL RESEARCH, LLC

APPLIED FUNDAMENTAL RESEARCH, LLC of CAMBRIDGE, MA is an SEC-registered investment adviser.

## Registration

- CRD: 167645
- Type: SEC-registered investment adviser
- SEC file number: 801-121001
- Location: 10 ARROW STREET, CAMBRIDGE, MA, 02138
- Phone: 617-360-7176
- Latest filing: 2026-04-06
- Regulatory AUM: $142.9M
- Discretionary AUM: $142.8M
- Non-discretionary AUM: $76K
- Clients: 5
- Accounts: 7

## Business model

- Compensation: % of AUM, Performance
- Clients served: High net worth, Pooled vehicles, Investment cos

## Officers, owners & control persons (7)

| Name | Role | Location |
| --- | --- | --- |
| Theodore H Wagenknecht | CCO; MANAGER, MEMBER | — |
| Kevin Francis Curran | MEMBER | — |
| BREAZZANO DAVID JOHN | MANAGER AND PRESIDENT | — |
| WAGENKNECHT THEODORE H | CCO; MANAGER, MEMBER; MANAGER, MEMBER, CCO | — |
| CURRAN KEVIN FRANCIS | MEMBER | — |
| Daneva-Brown Denitsa Georgieva | CCO AND DIRECTOR OF FINANCE | — |
| Theodore H. Wagenknecht | CCO; MANAGER, MEMBER | — |


## Private funds (2)

| Fund | Type | Formed | Owners | GAV | Min investment |
| --- | --- | --- | --- | --- | --- |
| AFR CONCENTRATED VALUE, LP | Hedge Fund | Delaware | 30 | $98.6M | $500K |
| AFR VALUE PARTNERS, L.P. | Hedge Fund | Delaware | 7 | $12.5M | $500K |


## Related pages

- Form ADV Part 2 brochure: https://search.stillhousedata.com/firm/167645/brochure
- Similar advisers: https://search.stillhousedata.com/firm/167645/similar
- Related entities: https://search.stillhousedata.com/firm/167645/related
- SEC IAPD (source of record): https://adviserinfo.sec.gov/firm/summary/167645

---

Source: public SEC Form ADV data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.