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.
SEC-registered adviser
Alumina Investment Management
Legal name Alumina Investment Management, LLC
Latest filing Mar 27, 2026
First filing on the tape Jun 5, 2012 · 20 filings
SEC status approved since Jul 2, 2012
RAUM
$5.3B
reported, Item 5.F
Discretionary
0.0%
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
2
2 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
20 filings and snapshots on the tape
RAUM$5.3B as of Mar 27, 2026
Mar 25, 2013$2.8B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 25, 20130 then
Employees (5.A)2 as of Mar 27, 2026
Mar 25, 20135 then
Private funds: 1
RAUM -64% over the last fiscal year-21% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 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
- $5.3BderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 0.0%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- -64%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- fixed feesreportedItem 5.E
- Advisory activities
- portfolio management for businesses and institutions, otherreportedItem 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
- receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Banks and thrifts$5.3B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 1reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- fixedreported
- Class basis
- private_client_share=0.0 fund_share=0.0 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
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Zcrit Opportunistic Investmentno longer reported | Other Private Fund | $133M | 1 | Mar 26, 2014 |
Owners and control persons
Schedule A and B, latest filing
- Alexander Gregory Kares · Founder/Chief Investment Officercontrolsince 05/2012 · owns 75% or more
- Margaret Caren Sterner · Chief Financial Officercontrolsince 05/2012 · owns less than 5%
- Patrick Kevin Sweeney · Principal/Chief Compliance Officercontrolsince 07/2012 · owns less than 5%
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- low discretionary shareStatic outlier · filing Mar 27, 2026discretionary share of RAUM of 0% against a peer median of 100% (134 comparable advisers, 0.0th percentile, 33.7 robust deviations)peers: other advisers, $5B to $20B (134) · 0.0% percentile
- RAUM down 50 %Change between filings · filing Mar 27, 2026RAUM (Item 5.F) moved from $14,681,685,404 to $5,262,418,590 (-64.0%) between the annual amendments of 2025-02-27 and 2026-03-27; the peer median change was +9.0% (119 comparable advisers, 0.0th percentile of changes)peers: other advisers, $5B to $20B (119) · 0.0% percentile
What changed
consecutive filings, newest first
- Accounts · 2 to 1Jan 21, 2026 to Mar 27, 2026
- Advisory employees · 3 to 2Jan 21, 2026 to Mar 27, 2026
- Employees · 3 to 2Jan 21, 2026 to Mar 27, 2026
- Non-discretionary RAUM · $15B to $5.3BJan 21, 2026 to Mar 27, 2026
- RAUM · $15B to $5.3BJan 21, 2026 to Mar 27, 2026
- Financial planning clients · unset to Mar 5, 2024 to Feb 27, 2025
- Non-discretionary RAUM · $12B to $15BMar 5, 2024 to Feb 27, 2025
- RAUM · $12B to $15BMar 5, 2024 to Feb 27, 2025
- Non-discretionary RAUM · $11B to $12BMar 2, 2023 to Mar 5, 2024
- RAUM · $11B to $12BMar 2, 2023 to Mar 5, 2024
- Advisory employees · 4 to 3Mar 10, 2022 to Mar 2, 2023
- Employees · 4 to 3Mar 10, 2022 to Mar 2, 2023
- Non-discretionary RAUM · $11B to $11BMar 10, 2022 to Mar 2, 2023
- RAUM · $11B to $11BMar 10, 2022 to Mar 2, 2023
- Non-discretionary RAUM · $9.1B to $11BMar 10, 2021 to Mar 10, 2022
- RAUM · $9.1B to $11BMar 10, 2021 to Mar 10, 2022
- Non-discretionary RAUM · $9.6B to $9.1BMar 16, 2020 to Mar 10, 2021
- RAUM · $9.6B to $9.1BMar 16, 2020 to Mar 10, 2021
- Non-discretionary RAUM · $8.8B to $9.6BMar 25, 2019 to Mar 16, 2020
- RAUM · $8.8B to $9.6BMar 25, 2019 to Mar 16, 2020
- Non-discretionary RAUM · $8.4B to $8.8BMar 21, 2018 to Mar 25, 2019
- RAUM · $8.4B to $8.8BMar 21, 2018 to Mar 25, 2019
- Accounts · 3 to 2Mar 14, 2017 to Mar 21, 2018
- Advisory activities · 3 to 2Mar 14, 2017 to Mar 21, 2018
- Other offices · unset to 0.0Mar 14, 2017 to Mar 21, 2018
- Non-discretionary RAUM · $6.5B to $8.4BMar 14, 2017 to Mar 21, 2018
- RAUM · $6.5B to $8.4BMar 14, 2017 to Mar 21, 2018
- Accounts · 4 to 3Mar 18, 2016 to Mar 14, 2017
- Discretionary RAUM · $126M to $0Mar 18, 2016 to Mar 14, 2017
- Non-discretionary RAUM · $3.9B to $6.5BMar 18, 2016 to Mar 14, 2017
- RAUM · $4.1B to $6.5BMar 18, 2016 to Mar 14, 2017
- Discretionary RAUM · $133M to $126MMar 25, 2015 to Mar 18, 2016
- Non-discretionary RAUM · $3.6B to $3.9BMar 25, 2015 to Mar 18, 2016
- RAUM · $3.7B to $4.1BMar 25, 2015 to Mar 18, 2016
- Private funds · 1 to unsetMar 26, 2014 to Mar 25, 2015
- Discretionary RAUM · $133M to $133MMar 26, 2014 to Mar 25, 2015
- Non-discretionary RAUM · $3.1B to $3.6BMar 26, 2014 to Mar 25, 2015
- RAUM · $3.2B to $3.7BMar 26, 2014 to Mar 25, 2015
- Accounts · 3 to 4Mar 26, 2013 to Mar 26, 2014
- Advisory employees · 5 to 4Mar 26, 2013 to Mar 26, 2014
Signals
3 dated events
- Alumina Investment Management reported RAUM $5.3B, down 64% from $14.7B (2026-01-21 to 2026-03-27)Mar 27, 2026 · RAUM change · derived
- Alumina Investment Management reported RAUM $8.4B, up 30% from $6.5B (2017-03-14 to 2018-03-21)Mar 21, 2018 · RAUM change · derived
- Alumina Investment Management filed its initial SEC registration (Form ADV)Jun 5, 2012 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/alumina-investment-managementreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 980-233-3000reportedpublic record, Form ADV, Mar 27, 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
- Other 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