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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SEC-registered adviser

N•••• R•• C••••••• L•

Asset manager (funds and pooled vehicles)Boston, MassachusettsCRD 157922SEC 801-136866websiteIAPD
Latest filing Jul 7, 2026
First filing on the tape Feb 15, 2012 · 14 filings
SEC status approved since Jul 23, 2026
RAUM
$335M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
4
3 advisory (5.B.1)
Offices
3
beyond the principal office
Private funds
4
reported on Schedule D
History
14 filings and snapshots on the tape
RAUM$335M as of Jul 7, 2026
Apr 1, 2013$1.6B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jul 7, 2026
Apr 1, 20130 then
Employees (5.A)4 as of Jul 7, 2026
Apr 1, 201315 then
Private funds4 as of Jul 7, 2026
Apr 1, 20131 then
RAUM +33% over the last fiscal year-17% a year over threeIARs 0 to 0offices 0 to 3
Practice profile
derived from the filing of Jul 7, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$83.6MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived4 offices incl. principal (1.F.5)
RAUM growth, one year
-19%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, performance-basedreportedItem 5.E
Advisory activities
portfolio management for pooled vehiclesreportedItem 5.G
Custody
$34.7M, 2 clientsreportedItem 9.A
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
  • 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)
  • has custody of client cash or bank accounts (9.A.1.a)
  • has custody of client securities (9.A.1.b)
  • 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
  • Pooled investment vehicles$335M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
4reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
$34.7M for 2 clientsreported
Compensation
% of AUM, performancereported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      N•••• R•• M••••• F•••• L•Hedge Fund$204M27Feb 15, 2012
      N•••• R•• • D•• N•••• P•••••••• L•Hedge Fund$86.2M4Apr 6, 2022
      N•••• R•• G••••••••• L•Private Equity Fund$31.0M18Mar 21, 2024
      Owners and control persons
      Schedule A and B, latest filing
      • E••••• T•••••• B•••••• · Portfolio Manager & Limited Partnercontrol
        since 08/2002 · owns 25% to 50%
      • F•••••• M••••••• G•••••• · Coo, Cfo, Ccocontrol
        since 09/2015 · owns less than 5%
      • H•••••• T•••• B••••••• · Portfolio Manager & Limited Partnercontrol
        since 08/2002 · owns 25% to 50%
      • E••••• T•••••• B•••••• · Membercontrol
        since 08/2002 · owns 50% to 75% of N•••• R•• A•••••••• L••
      • H•••••• T•••• B••••••• · Membercontrol
        since 08/2002 · owns 50% to 75% of N•••• R•• A•••••••• L••
      Entity owners
      • N•••• R•• A•••••••• L•• · General Partner
        direct · owns less than 5%
      Related persons
      Schedule D 7.A
      • N•••• R•• G•• L•
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • affiliate changedChange between filings · filing Jul 7, 2026
        bank affiliate (Item 7.A.6): yes on the filing of 2021-03-11, no on the filing of 2026-07-07
        peers: asset managers, $100M to $500M (1,567)
      What changed
      consecutive filings, newest first
      • Assets in custody · $153M to $34.7M
        Mar 11, 2021 to Jul 7, 2026
      • Employees · 6 to 4
        Mar 11, 2021 to Jul 7, 2026
      • Financial planning clients · unset to
        Mar 11, 2021 to Jul 7, 2026
      • HQ city · WELLESLEY to BOSTON
        Mar 11, 2021 to Jul 7, 2026
      • Other offices · 0 to 3
        Mar 11, 2021 to Jul 7, 2026
      • Private funds · 1 to 4
        Mar 11, 2021 to Jul 7, 2026
      • Discretionary RAUM · $204M to $335M
        Mar 11, 2021 to Jul 7, 2026
      • Pooled vehicle RAUM · $204M to $335M
        Mar 11, 2021 to Jul 7, 2026
      • RAUM · $204M to $335M
        Mar 11, 2021 to Jul 7, 2026
      • Related bank · true to false
        Mar 11, 2021 to Jul 7, 2026
      • Accounts · 1 to 4
        Mar 11, 2021 to Jul 7, 2026
      • Advisory employees · 4 to 3
        Mar 11, 2021 to Jul 7, 2026
      • Pooled vehicle clients · 1 to 4
        Mar 11, 2021 to Jul 7, 2026
      • Assets in custody · $156M to $153M
        Mar 22, 2020 to Mar 11, 2021
      • Employees · 7 to 6
        Mar 22, 2020 to Mar 11, 2021
      • Discretionary RAUM · $252M to $204M
        Mar 22, 2020 to Mar 11, 2021
      • Pooled vehicle RAUM · $252M to $204M
        Mar 22, 2020 to Mar 11, 2021
      • RAUM · $252M to $204M
        Mar 22, 2020 to Mar 11, 2021
      • Assets in custody · $185M to $156M
        Dec 5, 2019 to Mar 22, 2020
      • Discretionary RAUM · $272M to $252M
        Dec 5, 2019 to Mar 22, 2020
      • Pooled vehicle RAUM · $272M to $252M
        Dec 5, 2019 to Mar 22, 2020
      • RAUM · $272M to $252M
        Dec 5, 2019 to Mar 22, 2020
      • HQ city · BOSTON to WELLESLEY
        Mar 26, 2019 to Dec 5, 2019
      • Advisory employees · 5 to 4
        Mar 29, 2018 to Mar 26, 2019
      • Assets in custody · $289M to $185M
        Mar 29, 2018 to Mar 26, 2019
      • Employees · 8 to 7
        Mar 29, 2018 to Mar 26, 2019
      • Discretionary RAUM · $582M to $272M
        Mar 29, 2018 to Mar 26, 2019
      • Pooled vehicle RAUM · $582M to $272M
        Mar 29, 2018 to Mar 26, 2019
      • RAUM · $582M to $272M
        Mar 29, 2018 to Mar 26, 2019
      • Advisory employees · 8 to 5
        Aug 1, 2017 to Mar 29, 2018
      • Pooled vehicle clients · unset to 1.0
        Aug 1, 2017 to Mar 29, 2018
      • Assets in custody · $673M to $289M
        Aug 1, 2017 to Mar 29, 2018
      • Employees · 13 to 8
        Aug 1, 2017 to Mar 29, 2018
      • Other offices · unset to 0.0
        Aug 1, 2017 to Mar 29, 2018
      • Discretionary RAUM · $1.2B to $582M
        Aug 1, 2017 to Mar 29, 2018
      • Pooled vehicle RAUM · unset to 582290541.0
        Aug 1, 2017 to Mar 29, 2018
      • RAUM · $1.2B to $582M
        Aug 1, 2017 to Mar 29, 2018
      • Advisory employees · 11 to 8
        Mar 30, 2016 to Mar 31, 2017
      • Assets in custody · $1.0B to $673M
        Mar 30, 2016 to Mar 31, 2017
      • Employees · 16 to 13
        Mar 30, 2016 to Mar 31, 2017
      Signals
      3 dated events
      • N•••• R•• C••••••• L• reported RAUM $334.5M, up 64% from $204.1M (2021-03-11 to 2026-07-07)
        Jul 7, 2026 · RAUM change · derived
      • N•••• R•• C••••••• L• reported RAUM $271.5M, down 53% from $582.3M (2018-03-29 to 2019-03-26)
        Mar 26, 2019 · RAUM change · derived
      • N•••• R•• C••••••• L• reported RAUM $582.3M, down 51% from $1.2B (2017-08-01 to 2018-03-29)
        Mar 29, 2018 · RAUM change · derived
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Website
      N••••RUNCAPITAL.COMreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      617-310-6130reportedpublic record, Form ADV, Jul 7, 2026
      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
      Asset manager (funds and pooled vehicles)deriveda 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