Maran Capital Management

Maran Capital Management, LLC is a boutique, value-driven investment manager based in Denver, Colorado, founded in 2015 by Dan Roller, who serves as its President, Chief Investment Officer, and sole portfolio manager. The firm employs a concentrated, research-intensive strategy targeting small-cap stocks and special situations in inefficient market segments, emphasizing long-term holdings with a threshold for 25% IRR and limited downside risk through quality companies often with net cash balance sheets. Prior to launching Maran, Roller gained over a decade of experience as a research analyst and portfolio manager at hedge funds including Scopus Asset Management, Avesta Capital Advisors, and Impala Asset Management, following his BSE in Electrical Engineering and Computer Science from Duke University where he led the student investment club. Maran maintains a lean structure without committees, keeps assets small for flexibility, and aligns interests as Roller invests the majority of his personal capital in the Maran Partners Fund alongside clients; the fund has delivered strong historical performance, such as +14.3% net CAGR for founders' shares through June 2025. Roller also serves as lead independent director on the board of Horizon Kinetics Holding Corporation (OTC: HKHC).

Dan Roller is Maran's founder, president, and portfolio manager. Independent in thought and with a contrarian mindset, he has a strong outsider mentality. Dan is innately curious and loves to read (browse our bookshelves).

Prior to forming Maran in 2015, he honed his investment philosophy and process for over a decade working in research analyst and portfolio management roles at well-regarded hedge funds in New York City.

Dan's analytical foundation was built studying Electrical Engineering and Computer Science at Duke University (BSE, '03).  At Duke, he was the President and Portfolio Manager of the Duke Investment Club.  Dan resides in Denver, CO, with his wife, two daughters (after whom Maran is named), and two dogs.

Dan serves on the board of directors of Horizon Kinetics Holding Corporation (OTC: HKHC) as the lead independent director.

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