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RIA / WealthRegistered adviserindependent wealth managerSEC registeredRAUM 100m 1b

INVARIANT INVESTMENT MANAGEMENT

INVARIANT INVESTMENT MANAGEMENT LLC, CRD 168772

CAMP HILL, PA

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:5ef11e95-8fc9-8130-68fa-6928de9e5ff5

Data as of Jul 27, 2026 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 11:07 PM UTC and rebuilt at most every 15 minutes.

Relationships: 11
Dated events: 4
On other graphs: 0
Observed: Aug 21, 2017 to Jul 27, 2026
25 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: independent wealth managerderivedprivate_client_share=0.93 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $183MItem 5.F on the latest filing (2026-07-27); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $182M
Private client RAUM: $171MderivedItem 5.D individuals plus high net worth individuals
Private client share: 93%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 6
RAUM per advisor: $30.4Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 7
Advisory employees: 6
Offices: 5Schedule D 1.F, beyond the principal office
Accounts: 762
Individual clients: 268
High net worth clients: 45
Custody, client assets: $649,757
SEC number: 801-111716
CRD: 168772
Filings on the tape: 25
First filed: Aug 21, 2017
Latest filed: Jul 27, 2026
Organised: Limited Liability Company, PA
Website: invariantinvestments.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
SETH WILLIAM ARBOGAST	Certified Financial Planner	CAMP HILL, PA	12	20	1	no
DAVID MICHAEL BOROWSKY	n/a	HOLLYWOOD, FL \| CAMP HILL, PA	12	14	1	no
CHARLES WILLIAM WISE	Personal Financial Specialist	York, PA	9	22	1	no
Gary Alan Smith	Chartered Financial Analyst	Louisville, KY \| CAMP HILL, PA	7	10	n/a	no
JONATHAN MICHAEL TURNER	n/a	NAPLES, FL \| HOLLYWOOD, FL \| CAMP HILL, PA	2	16	2	no
Erin Lynn Fischer	n/a	CAMP HILL, PA \| HUMMELSTOWN, PA	1	11	n/a	no

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
ARBOGAST, SETH, WILLIAM	CHIEF EXECUTIVE OFFICER, MANAGING MEMBER	C	yes	08/2013	Aug 21, 2017	Oct 9, 2024
BOROWSKY, DAVID, MICHAEL	CHIEF INVESTMENT OFFICER, MANAGING DIRECTOR, MEMBER	C	yes	08/2013	Aug 21, 2017	Oct 9, 2024
Smith, Gary, Alan	CHIEF COMPLIANCE OFFICER, MEMBER	C	yes	04/2023	Mar 31, 2021	Oct 9, 2024
TURNER, JONATHAN, MICHAEL	MANAGING MEMBER	C	yes	04/2023	Feb 13, 2024	Oct 9, 2024

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
ANTHEM CAPITAL MANAGEMENT, LLC	n/a	n/a	n/a	N	yes	n/a

Offices

Schedule D 1.F offices beyond the principal office; street addresses are not published

City	State	Country	Employees	Also broker-dealer
Hollywood	FL	United States	2	no
York	Pa	United States	2	no
Naples	FL	United States	1	no
n/a	n/a	n/a	1	no

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; showing 9 of 10

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Feb 24, 2026	$183M	$182M	7	6	5	n/a	n/a
2024	Mar 18, 2025	$136M	$135M	7	6	4	n/a	n/a
2023	Mar 5, 2024	$101M	$101M	8	5	2	n/a	n/a
2022	Mar 28, 2023	$86.8M	$86.5M	8	6	1	n/a	n/a
2021	Feb 28, 2022	$92.6M	$91.0M	8	6	1	n/a	n/a
2020	Mar 31, 2021	$182M	$180M	7	6	1	n/a	n/a
2019	Mar 18, 2020	$149M	$147M	7	6	1	n/a	n/a
2018	Feb 4, 2019	$136M	$134M	7	6	1	n/a	n/a
2017	Feb 7, 2018	$143M	$135M	5	5	0	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	1	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	$183M	$136M	34.4%	$86.8M	28.1%	7	7	5	4

Relationships

Registered with (7)

← Erin Lynn FischerAdvisorregistration: current employment
Oct 9, 2024 to presentfactForm ADV
← JONATHAN MICHAEL TURNERAdvisorregistration: current employment
Jun 27, 2024 to presentfactForm ADV
← Gary Alan SmithAdvisorregistration: current employment
Apr 29, 2019 to presentfactForm ADV
← CHARLES WILLIAM WISEAdvisorregistration: current employment
Aug 26, 2017 to presentfactForm ADV
← DAVID MICHAEL BOROWSKYAdvisorregistration: current employment
Jun 11, 2014 to presentfactForm ADV
← SETH WILLIAM ARBOGASTAdvisorregistration: current employment
Oct 31, 2013 to presentfactForm ADV
← CHRISTOPHER JOSEPH JACKSONAdvisorregistration: previous registration
Oct 31, 2013 to Feb 22, 2014factForm ADV

Controls (4)

← TURNER, JONATHAN, MICHAELOwnerMANAGING MEMBER, ownership code C, individual
Feb 13, 2024 to Oct 9, 2024factForm ADV
← ARBOGAST, SETH, WILLIAMOwnerCHIEF EXECUTIVE OFFICER, MANAGING MEMBER, ownership code C, individual
Aug 21, 2017 to Oct 9, 2024factForm ADV
← BOROWSKY, DAVID, MICHAELOwnerCHIEF INVESTMENT OFFICER, MANAGING DIRECTOR, MEMBER, ownership code C, individual
Aug 21, 2017 to Oct 9, 2024factForm ADV
← Smith, Gary, AlanOwnerCHIEF COMPLIANCE OFFICER, MEMBER, ownership code C, individual
Mar 31, 2021 to Oct 9, 2024factForm ADV

Dated events

Occurred
Feb 13, 2024
Control person joined
Michael Jonathan Turner (Managing Member) appeared on Schedule A of Invariant Investment Management
Form ADVobserved 4 days ago
Occurred
Mar 31, 2021
Control person left
Pinchas Ari Huberman (Chief Compliance Officer) no longer on Schedule A of Invariant Investment Management (listed 2020-08-03, absent 2021-03-31)
Form ADVobserved 4 days ago
Occurred
Mar 31, 2021
Control person joined
Alan Gary Smith (Chief Compliance Officer) appeared on Schedule A of Invariant Investment Management
Form ADVobserved 4 days ago
Occurred
Aug 21, 2017
First Form ADV filing
Invariant Investment Corporation filed its initial SEC registration (Form ADV)
Form ADVobserved 4 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:5ef11e95-8fc9-8130-68fa-6928de9e5ff5
First observed: Aug 21, 2017
Last observed: Jul 27, 2026 54 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.

INVARIANT INVESTMENT MANAGEMENT

INVARIANT INVESTMENT MANAGEMENT LLC, CRD 168772

CAMP HILL, PA

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:5ef11e95-8fc9-8130-68fa-6928de9e5ff5

Data as of Jul 27, 2026 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 11:07 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

SETH WILLIAM ARBOGAST

Certified Financial Planner

CAMP HILL, PA

DAVID MICHAEL BOROWSKY

n/a

HOLLYWOOD, FL | CAMP HILL, PA

CHARLES WILLIAM WISE

Personal Financial Specialist

York, PA

Gary Alan Smith

Chartered Financial Analyst

Louisville, KY | CAMP HILL, PA

n/a

JONATHAN MICHAEL TURNER

n/a

NAPLES, FL | HOLLYWOOD, FL | CAMP HILL, PA

Erin Lynn Fischer

n/a

CAMP HILL, PA | HUMMELSTOWN, PA

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

ARBOGAST, SETH, WILLIAM

CHIEF EXECUTIVE OFFICER, MANAGING MEMBER

yes

08/2013

Aug 21, 2017

Oct 9, 2024

BOROWSKY, DAVID, MICHAEL

CHIEF INVESTMENT OFFICER, MANAGING DIRECTOR, MEMBER

yes

08/2013

Aug 21, 2017

Oct 9, 2024

Smith, Gary, Alan

CHIEF COMPLIANCE OFFICER, MEMBER

yes

04/2023

Mar 31, 2021

Oct 9, 2024

TURNER, JONATHAN, MICHAEL

MANAGING MEMBER

yes

04/2023

Feb 13, 2024

Oct 9, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

ANTHEM CAPITAL MANAGEMENT, LLC

n/a

yes

n/a

City

State

Country

Employees

Also broker-dealer

Hollywood

United States

York

United States

Naples

United States

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Feb 24, 2026

$183M

$182M

n/a

2024

Mar 18, 2025

$136M

$135M

n/a

2023

Mar 5, 2024

$101M

n/a

2022

Mar 28, 2023

$86.8M

$86.5M

n/a

2021

Feb 28, 2022

$92.6M

$91.0M

n/a

2020

Mar 31, 2021

$182M

$180M

n/a

2019

Mar 18, 2020

$149M

$147M

n/a

2018

Feb 4, 2019

$136M

$134M

n/a

2017

Feb 7, 2018

$143M

$135M

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

$183M

$136M

34.4%

$86.8M

28.1%