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RIA / WealthRegistered adviserother adviserSEC registeredRAUM 100m 1b

EQUITY ARMOR INVESTMENTS

EQUITY ARMOR INVESTMENTS, LLC, CRD 156327

CHICAGO, IL

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:53f832ac-ba77-baae-ea16-0edfc96d0c85

Data as of Sep 8, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 7:14 AM UTC and rebuilt at most every 15 minutes.

Relationships: 30
Dated events: 3
On other graphs: 0
Observed: Apr 9, 2014 to Sep 8, 2026
39 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: other adviserderivedprivate_client_share=0.2 fund_share=0.8 institutional_share=0.0 related_bd= related_bank= bd_reps=0.0
Regulatory AUM: $184MItem 5.F on the latest filing (2026-09-08); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $184M
Private client RAUM: $36.8MderivedItem 5.D individuals plus high net worth individuals
Private client share: 20%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 6
RAUM per advisor: $30.7Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 3
Advisory employees: 3
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 121
Individual clients: 89
High net worth clients: 0
SEC number: 801-117276
CRD: 156327
Filings on the tape: 39
First filed: Apr 9, 2014
Latest filed: Sep 8, 2026
Organised: Limited Liability Company, IL
Website: equityarmorinvestments.com

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
AFSHIN LUKE RAHBARI	n/a	CHICAGO, IL	4	34	8	no
JOSEPH AVRAM TIGAY	n/a	CHICAGO, IL	4	15	8	no
BRIAN SCOTT STUTLAND	n/a	CHICAGO, IL	4	19	9	no
MICHAEL PORTES WARREN	n/a	CHICAGO, IL \| Cottonwood Heights, UT	1	18	1	yes
STEPHEN QUINN DALLIN	n/a	Spirngville, UT \| CHICAGO, IL	1	18	1	no
JOEL MICHAEL VANDERHOOF	n/a	Holladay, UT \| CHICAGO, IL	1	26	3	yes

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
PRIME INDIA FOCUS FUND	Hedge Fund	$220M	May 21, 2019	50	May 11, 2017	dropped	n/a

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
RAHBARI, AFSHIN, LUKE	CHIEF COMPLIANCE OFFICER, CHIEF EXECUTIVE OFFICER, AND MANAGER	C	yes	01/2011	Apr 9, 2014	Mar 29, 2024
STUTLAND, BRIAN, SCOTT	CHIEF INVESTMENT OFFICER, AND MANAGER	C	yes	01/2011	Apr 9, 2014	Mar 29, 2024
TIGAY, JOSEPH, AVRAM	Member	B	no	01/2013	Jun 17, 2014	Mar 29, 2024

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 27, 2026	$184M	$184M	3	3	0	n/a	n/a
2024	Mar 27, 2025	$171M	$171M	4	3	0	n/a	n/a
2023	Mar 29, 2024	$161M	$161M	4	3	0	n/a	n/a
2022	Mar 31, 2023	$157M	$157M	3	3	0	n/a	n/a
2021	Mar 30, 2022	$167M	$167M	3	3	0	n/a	n/a
2020	Mar 31, 2021	$138M	$138M	3	3	0	n/a	n/a
2019	Feb 24, 2020	$71.3M	$40.3M	3	3	0	n/a	n/a
2018	Mar 30, 2019	$41.1M	$41.1M	3	3	0	1	$220M
2017	Mar 30, 2018	$363M	$68.3M	3	3	0	1	$220M
2015	Mar 31, 2016	$9.0M	$9.0M	3	3	n/a	n/a	n/a
2014	Feb 27, 2015	$70.0M	$70.0M	5	5	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	0	0	0.0%	0	0	0	3	0

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$184M	$171M	7.7%	$157M	5.4%	3	4	0	0

Teams out

two or more advisors whose registrations ended here and began at one firm together: a fact of two dates, not a prediction

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
KKM FINANCIAL LLC	2	Jul 31, 2015	Jun 10, 2015	CHICAGO, IL	Team lift out	Other	18.2%

Teams in

teams that arrived here from one firm together

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
CAMBRIA CAPITAL LLC	3	Dec 31, 2024	Apr 17, 2025	SALT LAKE CITY, UT	Firm absorbed	Other	100.0%
EQUITY ARMOR ADVISORS, LLC	3	Dec 31, 2019	Jan 14, 2022	CHICAGO, IL	Firm absorbed	Other	100.0%

Relationships

Registered with (8)

← JOEL MICHAEL VANDERHOOFAdvisorregistration: current employment
Apr 17, 2025 to presentfactForm ADV
← MICHAEL PORTES WARRENAdvisorregistration: current employment
Apr 16, 2025 to presentfactForm ADV
← STEPHEN QUINN DALLINAdvisorregistration: current employment
Apr 16, 2025 to presentfactForm ADV
← BRIAN SCOTT STUTLANDAdvisorregistration: previous registration
Oct 31, 2011 to Dec 31, 2021factForm ADV
← AFSHIN LUKE RAHBARIAdvisorregistration: previous registration
Dec 1, 2011 to Dec 31, 2021factForm ADV
← JOSEPH AVRAM TIGAYAdvisorregistration: previous registration
Oct 3, 2011 to Dec 31, 2021factForm ADV
← DANIEL JOSEPH DEMINGAdvisorregistration: previous registration
Mar 3, 2015 to Jul 31, 2015factForm ADV
← MATTHEW PATRICK FRANZAdvisorregistration: previous registration
Aug 13, 2012 to Jul 31, 2015factForm ADV

Affiliated with (1)

← EQUITY ARMOR ADVISORS, LLCRegistered adviserother investment adviser, control, common control
factForm ADV

Moved with (3)

← CAMBRIA CAPITAL LLCRegistered adviser3 advisors, firm absorbed, same day
Dec 31, 2024 to Apr 17, 2025factForm ADV
← EQUITY ARMOR ADVISORS, LLCRegistered adviser3 advisors, firm absorbed, same day
Dec 31, 2019 to Jan 14, 2022factForm ADV
→ KKM FINANCIAL LLCRegistered adviser2 advisors, team lift out, same day
Jul 31, 2015 to Jun 10, 2015factForm ADV

Controls (2)

← RAHBARI, AFSHIN, LUKEOwnerCHIEF COMPLIANCE OFFICER, CHIEF EXECUTIVE OFFICER, AND MANAGER, ownership code C, individual
Apr 9, 2014 to Mar 29, 2024factForm ADV
← STUTLAND, BRIAN, SCOTTOwnerCHIEF INVESTMENT OFFICER, AND MANAGER, ownership code C, individual
Apr 9, 2014 to Mar 29, 2024factForm ADV

Owns (1)

← TIGAY, JOSEPH, AVRAMOwnerMEMBER, ownership code B, individual
Jun 17, 2014 to Mar 29, 2024factForm ADV

Advises (1)

→ PRIME INDIA FOCUS FUNDPrivate fundHedge Fund, IA, no longer reported
May 11, 2017 to May 21, 2019factForm ADV

Dated events

Occurred
Dec 31, 2024
Firm absorbed
Cambria Capital LLC's advisors moved to Equity Armor Investments (Salt Lake City, UT): 3 of 3 registered, on the same day
Form ADVobserved 4 days ago
3 advisors
Occurred
Mar 30, 2019
Regulatory AUM changed
Equity Armor Investments reported RAUM $41.1M, down 89% from $363.3M (2018-03-30 to 2019-03-30)
Form ADVobserved 5 days ago
$-322M
Occurred
Apr 9, 2014
First Form ADV filing
The Stutland Volatility Group, Llc filed its initial SEC registration (Form ADV)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:53f832ac-ba77-baae-ea16-0edfc96d0c85
First observed: Apr 9, 2014
Last observed: Sep 8, 2026 12 days ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

EQUITY ARMOR INVESTMENTS

EQUITY ARMOR INVESTMENTS, LLC, CRD 156327

CHICAGO, IL

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:53f832ac-ba77-baae-ea16-0edfc96d0c85

Data as of Sep 8, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 7:14 AM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

AFSHIN LUKE RAHBARI

n/a

CHICAGO, IL

JOSEPH AVRAM TIGAY

n/a

CHICAGO, IL

BRIAN SCOTT STUTLAND

n/a

CHICAGO, IL

MICHAEL PORTES WARREN

n/a

CHICAGO, IL | Cottonwood Heights, UT

yes

STEPHEN QUINN DALLIN

n/a

Spirngville, UT | CHICAGO, IL

JOEL MICHAEL VANDERHOOF

n/a

Holladay, UT | CHICAGO, IL

yes

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

PRIME INDIA FOCUS FUND

Hedge Fund

$220M

May 21, 2019

May 11, 2017

dropped

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

RAHBARI, AFSHIN, LUKE

CHIEF COMPLIANCE OFFICER, CHIEF EXECUTIVE OFFICER, AND MANAGER

yes

01/2011

Apr 9, 2014

Mar 29, 2024

STUTLAND, BRIAN, SCOTT

CHIEF INVESTMENT OFFICER, AND MANAGER

yes

01/2011

Apr 9, 2014

Mar 29, 2024

TIGAY, JOSEPH, AVRAM

Member

01/2013

Jun 17, 2014

Mar 29, 2024

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 27, 2026

$184M

n/a

2024

Mar 27, 2025

$171M

n/a

2023

Mar 29, 2024

$161M

n/a

2022

Mar 31, 2023

$157M

n/a

2021

Mar 30, 2022

$167M

n/a

2020

Mar 31, 2021

$138M

n/a

2019

Feb 24, 2020

$71.3M

$40.3M

n/a

2018

Mar 30, 2019

$41.1M

$220M

2017

Mar 30, 2018

$363M

$68.3M

$220M

2015

Mar 31, 2016

$9.0M

n/a

2014

Feb 27, 2015

$70.0M

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$184M

$171M

7.7%

$157M

5.4%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

KKM FINANCIAL LLC

Jul 31, 2015

Jun 10, 2015

CHICAGO, IL

Team lift out

Other

18.2%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

CAMBRIA CAPITAL LLC

Dec 31, 2024

Apr 17, 2025

SALT LAKE CITY, UT

Firm absorbed

Other

100.0%

EQUITY ARMOR ADVISORS, LLC

Dec 31, 2019

Jan 14, 2022

CHICAGO, IL

Firm absorbed

Other

100.0%