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
Merganser Capital Management, LLC
Latest filing Mar 30, 2026
First filing on the tape Oct 21, 2013 · 24 filings
SEC status approved since Oct 18, 2013
RAUM
$18B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.1%
$24.3M individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
32
11 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
4
reported on Schedule D
History
24 filings and snapshots on the tape
RAUM$18B as of Mar 30, 2026
Mar 27, 2014$7.1B then
HNW client RAUM$24.3M as of Mar 30, 2026
Mar 27, 2018$48.7M then
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 27, 20140 then
Employees (5.A)32 as of Mar 30, 2026
Mar 27, 201427 then
Private funds4 as of Mar 30, 2026
Mar 27, 20144 then
RAUM +3.6% over the last fiscal year+8.9% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 30, 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
- $141MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 31%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
- +3.6%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 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
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $534M, 4 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
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Corporations and businesses$11B62%
- State and municipal entities$2.6B15%
- Pension and profit-sharing plans$2.3B13%
- Investment companies$612M3.6%
- Pooled investment vehicles$534M3.1%
- Insurance companies$445M2.6%
- High-net-worth individuals$24.3M0.1%
- Individual clients
- 0reported
- HNW clients
- n/areported
- Pension plan clients
- 11reported
- Charitable clients
- 0reported
- Accounts
- 125reported
- Financial planning clients
- reported
- Wrap fee programs
- $0 sponsored, $259M managedreported
- Custody of client assets
- $534M for 4 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.0 fund_share=0.06 institutional_share=0.31 related_bd=false related_bank=true 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
7 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Merganser Short Term Bond Fund LLC | Other Private Fund | $436M | 39 | Mar 14, 2012 |
| Merganser Floating Rate Bond Fund LLC | Other Private Fund | $98.6M | 6 | Mar 27, 2014 |
| Merganser Core Bond Fund II | Other Private Fund | $56.4M | 4 | Mar 27, 2017 |
| Merganser Short Income Fund, LLC | Other Private Fund | $40.0M | 2 | Mar 27, 2020 |
| Merganser Core Plus Bond Fund LLCno longer reported | Other Private Fund | $22.5M | 24 | Mar 14, 2012 |
| Merganser Intermediate Term Bond Fund II LLC | Other Private Fund | $6.2M | 2 | Mar 23, 2015 |
| Merganser Core Bond Fund LLCno longer reported | Other Private Fund | $4.0M | 1 | Mar 6, 2013 |
Owners and control persons
Schedule A and B, latest filing
- Charles Jeffrey Addis · Chief Operating Officer, Principalcontrolsince 10/2013 · owns less than 5%
- Joseph Michael Cloutier · Chief Marketing Officer, Managing Principal, Directorcontrolsince 10/2021 · owns less than 5%
- Gerald Marc Puglia · Directorcontrolsince 10/2013 · owns less than 5%
- Jude Paul Salem · Directorcontrolsince 12/2024 · owns less than 5%
- M Andrew Smock · Chief Investment Officer, Principal, Director (Chairman)controlsince 07/2016 · owns less than 5%
- Ann Kimberly Voss · Chief Compliance Officer, Principalcontrolsince 01/2023 · owns less than 5%
- James Thomas Gahan · Special Investment Trusteecontrolsince 12/2019 · owns F of Gahan 2019 Descendants' Trust
- Milton Jonathan Nelson · Shareholdercontrolsince 11/2006 · owns 75% or more of Fund Management Inc.
- R Dolores Gahan · Investment Trusteesince 12/2019 · owns F of Gahan 2019 Descendants' Trust
- Joseph Michael Gahan · Independent Trusteesince 12/2019 · owns F of Gahan 2019 Descendants' Trust
Entity owners
- Merganser Management Holdings LLC · Memberdirect · owns 10% to 25%
- Providence Equity Capital Markets Merganser LLC · Memberdirect · owns 75% or more
- Fund Management Inc. · Non-Managing Memberindirect · owns 25% to 50% of Providence Equity Partners L.L.C.
- Gahan 2019 Descendants' Trust · Memberindirect · owns 25% to 50% of Providence Equity Capital Markets Merganser LLC
- Providence Equity Global Group L.L.C. · Non-Managing Memberindirect · owns 25% to 50% of Providence Equity Partners L.L.C.
- Providence Equity Partners L.L.C. · Memberindirect · owns 50% to 75% of Providence Equity Capital Markets Merganser LLC
Related persons
Schedule D 7.A
- Providence Equity Advisors Mauritius Limitedinvestment advisern
- Providence Equity Llpinvestment adviserbankn
- Providence Equity Partners L.L.C.investment adviserbankyRAUM $24B
Advisers that list Merganser Capital Management, LLC as a related person
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
What changed
consecutive filings, newest first
- Accounts · 126 to 125Mar 26, 2025 to Mar 30, 2026
- Advisory employees · 10 to 11Mar 26, 2025 to Mar 30, 2026
- Corporate clients · 82 to 83Mar 26, 2025 to Mar 30, 2026
- Assets in custody · $647M to $534MMar 26, 2025 to Mar 30, 2026
- Employees · 30 to 32Mar 26, 2025 to Mar 30, 2026
- Discretionary RAUM · $17B to $18BMar 26, 2025 to Mar 30, 2026
- HNW RAUM · $22.7M to $24.3MMar 26, 2025 to Mar 30, 2026
- Pension RAUM · $2.1B to $2.3BMar 26, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $647M to $534MMar 26, 2025 to Mar 30, 2026
- RAUM · $17B to $18BMar 26, 2025 to Mar 30, 2026
- Wrap assets (manager) · $232M to $259MMar 26, 2025 to Mar 30, 2026
- Accounts · 127 to 126Dec 18, 2024 to Mar 26, 2025
- Advisory employees · 11 to 10Dec 18, 2024 to Mar 26, 2025
- Corporate clients · 95 to 82Dec 18, 2024 to Mar 26, 2025
- Pension plan clients · 8 to 11Dec 18, 2024 to Mar 26, 2025
- Pooled vehicle clients · 5 to 4Dec 18, 2024 to Mar 26, 2025
- Assets in custody · $636M to $647MDec 18, 2024 to Mar 26, 2025
- Employees · 32 to 30Dec 18, 2024 to Mar 26, 2025
- Financial planning clients · unset to Dec 18, 2024 to Mar 26, 2025
- Private funds · 5 to 4Dec 18, 2024 to Mar 26, 2025
- Discretionary RAUM · $16B to $17BDec 18, 2024 to Mar 26, 2025
- HNW RAUM · $22.0M to $22.7MDec 18, 2024 to Mar 26, 2025
- Pension RAUM · $1.8B to $2.1BDec 18, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $636M to $647MDec 18, 2024 to Mar 26, 2025
- RAUM · $16B to $17BDec 18, 2024 to Mar 26, 2025
- Wrap assets (manager) · $221M to $232MDec 18, 2024 to Mar 26, 2025
- Accounts · 123 to 127Mar 27, 2023 to Mar 26, 2024
- Corporate clients · 93 to 95Mar 27, 2023 to Mar 26, 2024
- Assets in custody · $579M to $636MMar 27, 2023 to Mar 26, 2024
- Employees · 33 to 32Mar 27, 2023 to Mar 26, 2024
- Discretionary RAUM · $14B to $16BMar 27, 2023 to Mar 26, 2024
- HNW RAUM · $36.9M to $22.0MMar 27, 2023 to Mar 26, 2024
- Pension RAUM · $1.6B to $1.8BMar 27, 2023 to Mar 26, 2024
- Pooled vehicle RAUM · $579M to $636MMar 27, 2023 to Mar 26, 2024
- RAUM · $14B to $16BMar 27, 2023 to Mar 26, 2024
- Wrap assets (manager) · $226M to $221MMar 27, 2023 to Mar 26, 2024
- Accounts · 115 to 123Jan 3, 2023 to Mar 27, 2023
- Corporate clients · 80 to 93Jan 3, 2023 to Mar 27, 2023
- Pension plan clients · 10 to 8Jan 3, 2023 to Mar 27, 2023
- Assets in custody · $537M to $579MJan 3, 2023 to Mar 27, 2023
Signals
10 dated events
- Jude Paul Salem (Director) appeared on Schedule A of Merganser Capital Management, LlcDec 18, 2024 · Control person joined · fact
- K Jennifer Wynn (Portfolio Manager, Chief Diversity And Esg Officer, Principal, Director) no longer on Schedule A of Merganser Capital Management, Llc (listed 2023-01-03, absent 2023-03-27)Mar 27, 2023 · Control person left · inference
- Ann Kimberly Voss (Chief Compliance Officer) appeared on Schedule A of Merganser Capital Management, LlcJan 3, 2023 · Control person joined · fact
- Joseph Michael Cloutier (Chief Marketing Officer, Managing Principal) appeared on Schedule A of Merganser Capital Management, LlcJan 5, 2022 · Control person joined · fact
- Clarke John Clavin (Executive Vice President, Chief Sales & Marketing Officer, Director) no longer on Schedule A of Merganser Capital Management, Llc (listed 2020-10-15, absent 2021-03-23)Mar 23, 2021 · Control person left · inference
- K Jennifer Wynn (Portfolio Manager Chief Diversity And Esg Officer) appeared on Schedule A of Merganser Capital Management, LlcMar 23, 2021 · Control person joined · fact
- Merganser Capital Management, Llc reported RAUM $12.1B, up 31% from $9.3B (2020-01-08 to 2020-03-27)Mar 27, 2020 · RAUM change · derived
- Jude Paul Salem (Director, Chairman) no longer on Schedule A of Merganser Capital Management, Llc (listed 2019-03-25, absent 2019-06-18)Jun 18, 2019 · Control person left · inference
- Murphy Acquisition Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)Oct 21, 2013 · Succession (Item 4) · fact
- Murphy Acquisition Llc filed its initial SEC registration (Form ADV)Oct 21, 2013 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- Merganser Capital Management, LLC · Independent Sponsorsshared crd · capital_provider
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/merganser-capital-managementreportedpublic record, Form ADV, Sep 17, 2026
- Website
- merganser.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 617-494-1000reportedpublic record, Form ADV, Mar 30, 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