DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

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Former SEC-registered adviser

K•••••• C•••••• M••••••••• I•••

Former SEC-registered adviserGalveston, TexasCRD 104784SEC 801-17585websiteIAPD
Latest filing Oct 29, 2025
First filing on the tape Mar 28, 2012 · 24 filings
SEC status approved since Sep 15, 1982
RAUM
$218M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
12%
$26.9M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
9
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$218M as of Oct 29, 2025
Mar 28, 2012$417M then
HNW client RAUM$26.9M as of Oct 29, 2025
Mar 28, 2018$35.3M then
State-registered IARs (5.B.3)2 as of Oct 29, 2025
Mar 28, 20120 then
Employees (5.A)9 as of Oct 29, 2025
Mar 21, 201311 then
Private funds1 as of Oct 29, 2025
Mar 27, 20141 then
RAUM +12% over the last fiscal year+2.6% a year over threeIARs 2 to 2
Practice profile
derived from the filing of Oct 29, 2025; every figure names its basis
RAUM per advisor
$109MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
9derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$1.5MderivedHNW RAUM over HNW clients
Average account
$7.5MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
5.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
4.5derivedItem 5.A over advisors
Advisors per office
2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year
+12%derivedbetween the last two annual amendments
Advisor growth, one year
+0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year
+0.0%derived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • a related person has custody of client cash (9.B.1.a)
  • a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Investment companies$92.3M42%
  • Pooled investment vehicles$80.4M37%
  • High-net-worth individuals$26.9M12%
  • Charitable organizations$11.5M5.3%
  • Corporations and businesses$7.1M3.3%
Individual clients
0reported
HNW clients
18reported
Pension plan clients
0reported
Charitable clients
7reported
Accounts
29reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
Class basis
absent from the latest SEC rosterderived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 days1 left over 36 months
Joined, latest
none on the tape
    Private funds
    1 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    K•••••• S••••••••• L•••••• P•••••••••Other Private Fund$69.8M58Mar 27, 2014
    Owners and control persons
    Schedule A and B, latest filing
    • K••••••• J••• H•••••• L••• · President, Portfolio Managercontrol
      since 10/1981 · owns 75% or more
    • B••••••• D••••• L••••• · Vice President,Treasurer & Chief Compliance Officer
      since 03/2007 · owns less than 5%
    • G••••• M••••••• S•••• · Vice President, Portfolio Manager
      since 01/2008 · owns less than 5%
    • G•••••• V•••• D••••• · Vice President, Head Trader
      since 06/2007 · owns less than 5%
    • L•••••• B•••••••• · Trader/Assistant Vice President
      since 08/2008 · owns less than 5%
    Related persons
    Schedule D 7.A
    • H••••• L••• K••••••• J••
      pooled vehicle sponsory
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Galveston, Tx · principal001
    Offices
    Schedule D 1.F, the 25 largest
    No branch office listed.
    What changed
    consecutive filings, newest first
    • Financial planning clients · unset to
      Feb 20, 2024 to Mar 4, 2025
    • Discretionary RAUM · $196M to $218M
      Feb 20, 2024 to Mar 4, 2025
    • HNW RAUM · $25.6M to $26.9M
      Feb 20, 2024 to Mar 4, 2025
    • Pooled vehicle RAUM · $69.8M to $80.4M
      Feb 20, 2024 to Mar 4, 2025
    • RAUM · $196M to $218M
      Feb 20, 2024 to Mar 4, 2025
    • Advisory activities · 3 to 4
      Mar 2, 2023 to Feb 20, 2024
    • Discretionary RAUM · $180M to $196M
      Mar 2, 2023 to Feb 20, 2024
    • HNW RAUM · $26.6M to $25.6M
      Mar 2, 2023 to Feb 20, 2024
    • Pooled vehicle RAUM · $63.5M to $69.8M
      Mar 2, 2023 to Feb 20, 2024
    • RAUM · $180M to $196M
      Mar 2, 2023 to Feb 20, 2024
    • Discretionary RAUM · $202M to $180M
      Feb 17, 2022 to Mar 2, 2023
    • HNW RAUM · $31.9M to $26.6M
      Feb 17, 2022 to Mar 2, 2023
    • Pooled vehicle RAUM · $71.0M to $63.5M
      Feb 17, 2022 to Mar 2, 2023
    • RAUM · $202M to $180M
      Feb 17, 2022 to Mar 2, 2023
    • Pension plan clients · unset to 0.0
      Mar 26, 2021 to Feb 17, 2022
    • Discretionary RAUM · $170M to $202M
      Mar 26, 2021 to Feb 17, 2022
    • HNW RAUM · $27.9M to $31.9M
      Mar 26, 2021 to Feb 17, 2022
    • Pooled vehicle RAUM · $57.1M to $71.0M
      Mar 26, 2021 to Feb 17, 2022
    • RAUM · $170M to $202M
      Mar 26, 2021 to Feb 17, 2022
    • Individual clients · unset to 0.0
      Jun 16, 2020 to Mar 25, 2021
    • Discretionary RAUM · $187M to $170M
      Jun 16, 2020 to Mar 25, 2021
    • HNW RAUM · $32.6M to $27.9M
      Jun 16, 2020 to Mar 25, 2021
    • Pooled vehicle RAUM · $58.8M to $57.1M
      Jun 16, 2020 to Mar 25, 2021
    • RAUM · $187M to $170M
      Jun 16, 2020 to Mar 25, 2021
    • Accounts · 30 to 29
      Mar 25, 2019 to Feb 13, 2020
    • HNW clients · 20 to 18
      Mar 25, 2019 to Feb 13, 2020
    • Discretionary RAUM · $164M to $187M
      Mar 25, 2019 to Feb 13, 2020
    • HNW RAUM · $28.6M to $32.6M
      Mar 25, 2019 to Feb 13, 2020
    • Pooled vehicle RAUM · $49.3M to $58.8M
      Mar 25, 2019 to Feb 13, 2020
    • RAUM · $164M to $187M
      Mar 25, 2019 to Feb 13, 2020
    • Charity clients · 6 to 7
      Mar 28, 2018 to Mar 25, 2019
    • HNW clients · 19 to 20
      Mar 28, 2018 to Mar 25, 2019
    • Discretionary RAUM · $194M to $164M
      Mar 28, 2018 to Mar 25, 2019
    • HNW RAUM · $35.3M to $28.6M
      Mar 28, 2018 to Mar 25, 2019
    • Non-discretionary RAUM · $1.3M to $0
      Mar 28, 2018 to Mar 25, 2019
    • Pooled vehicle RAUM · $54.2M to $49.3M
      Mar 28, 2018 to Mar 25, 2019
    • RAUM · $195M to $164M
      Mar 28, 2018 to Mar 25, 2019
    • Accounts · 11 to 30
      Sep 7, 2017 to Mar 28, 2018
    • Charity clients · unset to 6.0
      Sep 7, 2017 to Mar 28, 2018
    • Corporate clients · unset to 2.0
      Sep 7, 2017 to Mar 28, 2018
    Signals
    2 dated events
    • K•••••• C•••••• M••••••••• I••• no longer on the SEC adviser roster (last listed 2026-02-02, RAUM $218.3M)
      Mar 2, 2026 · Left the SEC roster · derived
    • M•••••• S•••• G•••• left K•••••• C•••••• M••••••••• I••• for R•••••• C•••••• (registered 2025-12-03)
      Feb 26, 2026 · Advisor changed firm · fact
    Across DFX
    shared identifiers only, never a name match
    No identifier-backed link to the venture, private equity, family office or sponsor graphs.
    Provenance
    Form ADV
    SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
    Advisors
    IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
    Class
    Former SEC-registered adviserderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    n/aderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026