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RIA / WealthRegistered adviserasset managerSEC registeredRAUM 100m 1b

THURSTON ADVISORS

THURSTON ADVISORS, LLC, CRD 318422

VERO BEACH, FL

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:d694d3fd-4b17-dd73-c1aa-ed965d3ab14c

Data as of May 12, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 5:21 AM UTC and rebuilt at most every 15 minutes.

Relationships: 11
Dated events: 2
On other graphs: 3
Observed: Jun 25, 2024 to May 12, 2026
7 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Venture Capitalidentity

Thurston Advisors

Venture manager · shared crd

Independent Sponsorsidentity

Thurston Advisors

Capital provider to sponsors · shared crd

Private Equityidentity

Thurston Advisors

Private equity manager · shared crd

Facts

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

Firm class: asset managerderivedprivate_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $481MItem 5.F on the latest filing (2026-05-12); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $481M
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 9
Advisory employees: 8
Offices: 2Schedule D 1.F, beyond the principal office
Accounts: 9
Private funds: 9Schedule D 7.B(1)
SEC number: 801-130744
CRD: 318422
Filings on the tape: 7
First filed: Jun 25, 2024
Latest filed: May 12, 2026
Organised: Limited Liability Company, DE
Website: thurstongroup.com

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
THURSTON FUND II, LP	Private Equity Fund	$122M	Jul 1, 2024	88	Mar 31, 2022	reported	021-398013
THURSTON FUND II (QP), L.P.	Private Equity Fund	$89.3M	Jul 1, 2024	55	Jan 4, 2023	reported	021-436846
THURSTON FUND III (QP), LP	Private Equity Fund	$68.6M	Jul 1, 2024	95	Mar 27, 2024	reported	021-474500
THURSTON FUND III, LP	Private Equity Fund	$33.4M	Jul 1, 2024	48	Mar 27, 2024	reported	021-474500
THURSTON FUND I, LP	Private Equity Fund	$3.1M	Jan 4, 2023	19	Mar 31, 2022	dropped	021-310570
MONROE DYNASCALE (QP), LP	Private Equity Fund	$2.0M	Jul 1, 2024	87	Jun 25, 2024	reported	n/a
MONROE DYNASCALE, LP	Private Equity Fund	$942,079	Jul 1, 2024	48	Jun 25, 2024	reported	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
Davis, Dana, Evan	Partner	Na	yes	10/2021	Jun 25, 2024	Jul 1, 2024
DAVIS, DANIEL, FRANCIS	CHIEF COMPLIANCE OFFICER, PARTNER	Na	yes	06/2017	Jun 25, 2024	Jul 1, 2024
HAYES, DANA, CHARLES	VICE PRESIDENT	Na	yes	06/2024	Jun 25, 2024	Jul 1, 2024
HAYNES III, PATRICK, JAMES	CHAIRMAN & CEO	E	yes	06/2017	Jun 25, 2024	Jul 1, 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
THURSTON FUND II GP, LLC	n/a	n/a	n/a	N	yes	n/a
THURSTON FUND III GP, 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
Savannah	Ga	United States	1	no
Chicago	IL	United States	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 2 of 3

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 30, 2026	$481M	$481M	9	8	2	9	n/a
2024	Mar 31, 2025	$371M	$371M	9	9	2	8	n/a

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	$481M	$371M	29.6%	n/a	n/a	9	9	2	2

Relationships

Advises (7)

→ THURSTON FUND III, LPPrivate fundPrivate Equity Fund, IA
Mar 27, 2024 to presentfactForm ADV
→ MONROE DYNASCALE, LPPrivate fundPrivate Equity Fund, IA
Jun 25, 2024 to presentfactForm ADV
→ THURSTON FUND II, LPPrivate fundPrivate Equity Fund, IA
Mar 31, 2022 to presentfactForm ADV
→ THURSTON FUND III (QP), LPPrivate fundPrivate Equity Fund, IA
Mar 27, 2024 to presentfactForm ADV
→ MONROE DYNASCALE (QP), LPPrivate fundPrivate Equity Fund, IA
Jun 25, 2024 to presentfactForm ADV
→ THURSTON FUND II (QP), L.P.Private fundPrivate Equity Fund, IA
Jan 4, 2023 to presentfactForm ADV
→ THURSTON FUND I, LPPrivate fundPrivate Equity Fund, ERA, no longer reported
Mar 31, 2022 to Jan 4, 2023factForm ADV

Controls (4)

← HAYNES III, PATRICK, JAMESOwnerCHAIRMAN & CEO, ownership code E, individual
Jun 25, 2024 to Jul 1, 2024factForm ADV
← DAVIS, DANIEL, FRANCISOwnerCHIEF COMPLIANCE OFFICER, PARTNER, ownership code NA, individual
Jun 25, 2024 to Jul 1, 2024factForm ADV
← HAYES, DANA, CHARLESOwnerVICE PRESIDENT, ownership code NA, individual
Jun 25, 2024 to Jul 1, 2024factForm ADV
← Davis, Dana, EvanOwnerPARTNER, ownership code NA, individual
Jun 25, 2024 to Jul 1, 2024factForm ADV

Dated events

Occurred
Mar 30, 2026
Regulatory AUM changed
Thurston Advisors reported RAUM $480.9M, up 30% from $371.2M (2026-02-23 to 2026-03-30)
Form ADVobserved 5 days ago
$110M
Occurred
Jun 25, 2024
First Form ADV filing
Thurston Advisors filed its initial SEC registration (Form ADV)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:d694d3fd-4b17-dd73-c1aa-ed965d3ab14c
First observed: Jun 25, 2024
Last observed: May 12, 2026 4 months 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.

THURSTON ADVISORS

THURSTON ADVISORS, LLC, CRD 318422

VERO BEACH, FL

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:d694d3fd-4b17-dd73-c1aa-ed965d3ab14c

Data as of May 12, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 5:21 AM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

THURSTON FUND II, LP

Private Equity Fund

$122M

Jul 1, 2024

Mar 31, 2022

reported

021-398013

THURSTON FUND II (QP), L.P.

Private Equity Fund

$89.3M

Jul 1, 2024

Jan 4, 2023

reported

021-436846

THURSTON FUND III (QP), LP

Private Equity Fund

$68.6M

Jul 1, 2024

Mar 27, 2024

reported

021-474500

THURSTON FUND III, LP

Private Equity Fund

$33.4M

Jul 1, 2024

Mar 27, 2024

reported

021-474500

THURSTON FUND I, LP

Private Equity Fund

$3.1M

Jan 4, 2023

Mar 31, 2022

dropped

021-310570

MONROE DYNASCALE (QP), LP

Private Equity Fund

$2.0M

Jul 1, 2024

Jun 25, 2024

reported

n/a

MONROE DYNASCALE, LP

Private Equity Fund

$942,079

Jul 1, 2024

Jun 25, 2024

reported

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

Davis, Dana, Evan

Partner

yes

10/2021

Jun 25, 2024

Jul 1, 2024

DAVIS, DANIEL, FRANCIS

CHIEF COMPLIANCE OFFICER, PARTNER

yes

06/2017

Jun 25, 2024

Jul 1, 2024

HAYES, DANA, CHARLES

VICE PRESIDENT

yes

06/2024

Jun 25, 2024

Jul 1, 2024

HAYNES III, PATRICK, JAMES

CHAIRMAN & CEO

yes

06/2017

Jun 25, 2024

Jul 1, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

THURSTON FUND II GP, LLC

n/a

yes

n/a

THURSTON FUND III GP, LLC

n/a

yes

n/a

City

State

Country

Employees

Also broker-dealer

Savannah

United States

Chicago

United States

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 30, 2026

$481M

n/a

2024

Mar 31, 2025

$371M

n/a

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$481M

$371M

29.6%

n/a