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Former SEC-registered adviser

S•• I•••••••• L•

Former SEC-registered adviserMenlo Park, CaliforniaCRD 171505SEC 801-107977websiteIAPD
Latest filing Mar 26, 2024
First filing on the tape Jun 8, 2016 · 21 filings
RAUM
$279M
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
6
4 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
$279M gross assets
History
21 filings and snapshots on the tape
RAUM$279M as of Mar 26, 2024
Mar 29, 2017$231M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 26, 2024
Mar 29, 20170 then
Employees (5.A)6 as of Mar 26, 2024
Mar 29, 20177 then
Private funds3 as of Mar 26, 2024
Mar 29, 20171 then
RAUM -40% over the last fiscal year-48% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 26, 2024; 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
$55.8MderivedRAUM 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
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
-40%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, otherreportedItem 5.E
Advisory activities
portfolio management for pooled vehiclesreportedItem 5.G
Custody
yesreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$279M100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
5reported
Financial planning clients
n/areported
Wrap fee programs
noreported
Custody of client assets
$0 for 0 clientsreported
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
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      S•• I•••••••• M••••• F••• L•Hedge Fund$39.2M107Aug 28, 2014
      S•• S•••••• O••••••••• F••• 2• L•Other Private Fund$26.4M15Feb 23, 2022
      S•• S•••••• O••••••••• F••• 3• L•Other Private Fund$24.5M11Nov 14, 2023
      Owners and control persons
      Schedule A and B, latest filing
      • M••••• A••••• •••• · Chief Investment Officercontrol
        since 04/2014 · owns 75% or more
      • M••••• A••••• •••• · Trusteecontrol
        since 06/2015 · owns less than 5%
      • M••••• A••••• •••• · Managercontrol
        since 01/2014 · owns 75% or more of S•• I•••••••• ••• L••
      • D••••• E•••• J• · Cco
        since 10/2023 · owns less than 5%
      • H••••• D•••••• J••• · Cfo
        since 04/2023 · owns less than 5%
      Entity owners
      • S•• I•••••••• ••• L•• · General Partner
        direct · owns less than 5%
      • T•• M•••• C••••••••• R•••••••• T•••• D•• 0••••••••• · Limited Partner
        direct · owns 10% to 25%
      Related persons
      Schedule D 7.A
      • S•• P••••••• ••• L••
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Accounts · 11 to 5
        Jan 30, 2024 to Mar 26, 2024
      • Advisory employees · 6 to 4
        Jan 30, 2024 to Mar 26, 2024
      • Pooled vehicle clients · 4 to 5
        Jan 30, 2024 to Mar 26, 2024
      • Employees · 7 to 6
        Jan 30, 2024 to Mar 26, 2024
      • HQ city · REDWOOD CITY to MENLO PARK
        Jan 30, 2024 to Mar 26, 2024
      • Discretionary RAUM · $495M to $279M
        Jan 30, 2024 to Mar 26, 2024
      • Pooled vehicle RAUM · $495M to $279M
        Jan 30, 2024 to Mar 26, 2024
      • RAUM · $495M to $279M
        Jan 30, 2024 to Mar 26, 2024
      • Accounts · 4 to 11
        Nov 2, 2023 to Nov 14, 2023
      • Employees · 11 to 7
        Nov 2, 2023 to Nov 14, 2023
      • Private funds · 2 to 3
        Nov 2, 2023 to Nov 14, 2023
      • Discretionary RAUM · $468M to $495M
        Nov 2, 2023 to Nov 14, 2023
      • Pooled vehicle RAUM · $468M to $495M
        Nov 2, 2023 to Nov 14, 2023
      • RAUM · $468M to $495M
        Nov 2, 2023 to Nov 14, 2023
      • Advisory employees · 11 to 6
        Sep 16, 2022 to Mar 30, 2023
      • Employees · 18 to 11
        Sep 16, 2022 to Mar 30, 2023
      • Discretionary RAUM · $1.7B to $468M
        Sep 16, 2022 to Mar 30, 2023
      • Pooled vehicle RAUM · $1.7B to $468M
        Sep 16, 2022 to Mar 30, 2023
      • RAUM · $1.7B to $468M
        Sep 16, 2022 to Mar 30, 2023
      • Accounts · 3 to 4
        Feb 23, 2022 to Mar 30, 2022
      • Advisory employees · 10 to 11
        Feb 23, 2022 to Mar 30, 2022
      • Pooled vehicle clients · 3 to 4
        Feb 23, 2022 to Mar 30, 2022
      • Discretionary RAUM · $2.0B to $1.7B
        Feb 23, 2022 to Mar 30, 2022
      • Pooled vehicle RAUM · $2.0B to $1.7B
        Feb 23, 2022 to Mar 30, 2022
      • RAUM · $2.0B to $1.7B
        Feb 23, 2022 to Mar 30, 2022
      • Private funds · 1 to 2
        Mar 31, 2021 to Feb 23, 2022
      • Advisory employees · 8 to 10
        Mar 20, 2020 to Mar 31, 2021
      • Assets in custody · unset to 0.0
        Mar 20, 2020 to Mar 31, 2021
      • Custody of client assets · false to true
        Mar 20, 2020 to Mar 31, 2021
      • Employees · 14 to 18
        Mar 20, 2020 to Mar 31, 2021
      • Discretionary RAUM · $1.6B to $2.0B
        Mar 20, 2020 to Mar 31, 2021
      • Pooled vehicle RAUM · $1.6B to $2.0B
        Mar 20, 2020 to Mar 31, 2021
      • RAUM · $1.6B to $2.0B
        Mar 20, 2020 to Mar 31, 2021
      • Employees · 16 to 14
        Apr 26, 2019 to Mar 20, 2020
      • Discretionary RAUM · $1.2B to $1.6B
        Apr 26, 2019 to Mar 20, 2020
      • Pooled vehicle RAUM · $1.2B to $1.6B
        Apr 26, 2019 to Mar 20, 2020
      • RAUM · $1.2B to $1.6B
        Apr 26, 2019 to Mar 20, 2020
      • Advisory employees · 6 to 8
        Mar 29, 2018 to Mar 29, 2019
      • Employees · 9 to 16
        Mar 29, 2018 to Mar 29, 2019
      • Discretionary RAUM · $762M to $1.2B
        Mar 29, 2018 to Mar 29, 2019
      Signals
      10 dated events
      • S•• I•••••••• L• reported RAUM $279.1M, down 44% from $494.6M (2024-01-30 to 2024-03-26)
        Mar 26, 2024 · RAUM change · derived
      • (Nmn) Anurag Bhardwaj (Chief Compliance Officer) no longer on Schedule A of S•• I•••••••• L• (listed 2023-03-30, absent 2023-10-10)
        Oct 10, 2023 · Control person left · inference
      • S•• I•••••••• L• reported RAUM $468.1M, down 73% from $1.7B (2022-09-16 to 2023-03-30)
        Mar 30, 2023 · RAUM change · derived
      • S•• I•••••••• L• reported RAUM $2.0B, up 26% from $1.6B (2020-03-20 to 2021-03-31)
        Mar 31, 2021 · RAUM change · derived
      • S•• I•••••••• L• reported RAUM $1.6B, up 32% from $1.2B (2019-04-26 to 2020-03-20)
        Mar 20, 2020 · RAUM change · derived
      • Randall Scott Smith (Chief Financial Officer, Chief Compliance Officer) no longer on Schedule A of S•• I•••••••• L• (listed 2019-03-29, absent 2019-04-26)
        Apr 26, 2019 · Control person left · inference
      • Anurag Bhardwaj (Chief Compliance Officer) appeared on Schedule A of S•• I•••••••• L•
        Apr 26, 2019 · Control person joined · fact
      • S•• I•••••••• L• reported RAUM $1.2B, up 55% from $762.2M (2018-03-29 to 2019-03-29)
        Mar 29, 2019 · RAUM change · derived
      • S•• I•••••••• L• reported RAUM $762.2M, up 231% from $230.5M (2017-03-29 to 2018-03-29)
        Mar 29, 2018 · RAUM change · derived
      • S•• I•••••••• L• filed its initial SEC registration (Form ADV)
        Jun 8, 2016 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/sqn-investors/aboutreportedpublic record, Form ADV, Sep 21, 2026
      Website
      w••.s•••••••••.comreportedpublic record, Form ADV, Sep 21, 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
      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