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.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
SEC-registered adviser
S••••••••• A•••• M••••••••• L••
Latest filing Jul 29, 2026
First filing on the tape Jun 22, 2020 · 10 filings
SEC status approved since Jul 22, 2020
RAUM
$701M
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
16
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
10 filings and snapshots on the tape
RAUM$701M as of Jul 29, 2026
Mar 4, 2021$326M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jul 29, 2026
Mar 4, 20210 then
Employees (5.A)16 as of Jul 29, 2026
Mar 4, 20219 then
Private funds3 as of Jul 29, 2026
Mar 4, 20213 then
RAUM +11% over the last fiscal year+7.3% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jul 29, 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
- $87.7MderivedRAUM 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
- +11%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-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 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
- has discretionary authority over which securities are bought or sold (8.C.1)
- 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$701M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 8reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- 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)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| L••••••••• C••••••••• F••• 2• L• | Private Equity Fund | $476M | 44 | Mar 4, 2021 |
| L••••••••• C••••••••• F••• 1• L• | Private Equity Fund | $22.6M | 36 | Jun 1, 2018 |
| L••••••••• S••••• L••••• H•••••••• L• | Private Equity Fund | $20.3M | 3 | Mar 24, 2020 |
Owners and control persons
Schedule A and B, latest filing
- M•••• L•••• M••••••• · Chief Executive Officer/ Chief Investment Officercontrolsince 03/2017 · owns less than 5%
- O••••• N•••••••• R•••••• · Chief Financial Officer/Chief Compliance Officercontrolsince 01/2024 · owns less than 5%
- M•••• L•••• M••••••• · Sole Membercontrolsince 11/2016 · owns 75% or more of M••• I••••••••• L••
Entity owners
- M••• I••••••••• L•• · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
- S••••••••• G••• L••pooled vehicle sponsorn
- S••••••••• G••• L••pooled vehicle sponsorn
- S••••••••• L••• G•• L••pooled 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
- employee count surgeChange between filings · filing Mar 27, 2026employees (Item 5.A) moved from 10.0 to 16.0 (+60.0%) between the annual amendments of 2025-04-11 and 2026-03-27; the peer median change was 0.0% (395 comparable advisers, 99.0th percentile of changes)peers: asset managers, $500M to $1B (395) · 99% percentile
What changed
consecutive filings, newest first
- Accounts · 9 to 8Apr 11, 2025 to Mar 27, 2026
- Pooled vehicle clients · 9 to 8Apr 11, 2025 to Mar 27, 2026
- Employees · 10 to 16Apr 11, 2025 to Mar 27, 2026
- Private funds · 4 to 3Apr 11, 2025 to Mar 27, 2026
- Discretionary RAUM · $633M to $701MApr 11, 2025 to Mar 27, 2026
- Pooled vehicle RAUM · $633M to $701MApr 11, 2025 to Mar 27, 2026
- RAUM · $633M to $701MApr 11, 2025 to Mar 27, 2026
- Accounts · 5 to 9Jul 10, 2024 to Apr 11, 2025
- Pooled vehicle clients · 5 to 9Jul 10, 2024 to Apr 11, 2025
- Employees · 8 to 10Jul 10, 2024 to Apr 11, 2025
- Financial planning clients · unset to Jul 10, 2024 to Apr 11, 2025
- Private funds · 3 to 4Jul 10, 2024 to Apr 11, 2025
- Discretionary RAUM · $525M to $633MJul 10, 2024 to Apr 11, 2025
- Pooled vehicle RAUM · $525M to $633MJul 10, 2024 to Apr 11, 2025
- RAUM · $525M to $633MJul 10, 2024 to Apr 11, 2025
- Employees · 12 to 8Mar 23, 2023 to Mar 25, 2024
- Discretionary RAUM · $567M to $525MMar 23, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $567M to $525MMar 23, 2023 to Mar 25, 2024
- RAUM · $567M to $525MMar 23, 2023 to Mar 25, 2024
- Employees · 7 to 12Mar 3, 2022 to Mar 23, 2023
- Discretionary RAUM · $775M to $567MMar 3, 2022 to Mar 23, 2023
- Pooled vehicle RAUM · $775M to $567MMar 3, 2022 to Mar 23, 2023
- RAUM · $775M to $567MMar 3, 2022 to Mar 23, 2023
- Employees · 9 to 7Mar 4, 2021 to Mar 3, 2022
- Discretionary RAUM · $326M to $775MMar 4, 2021 to Mar 3, 2022
- Pooled vehicle RAUM · $326M to $775MMar 4, 2021 to Mar 3, 2022
- RAUM · $326M to $775MMar 4, 2021 to Mar 3, 2022
- Accounts · 3 to 5Jun 22, 2020 to Mar 4, 2021
- Pooled vehicle clients · 3 to 5Jun 22, 2020 to Mar 4, 2021
- Employees · 8 to 9Jun 22, 2020 to Mar 4, 2021
- Private funds · 4 to 3Jun 22, 2020 to Mar 4, 2021
- Discretionary RAUM · $173M to $326MJun 22, 2020 to Mar 4, 2021
- Pooled vehicle RAUM · $173M to $326MJun 22, 2020 to Mar 4, 2021
- RAUM · $173M to $326MJun 22, 2020 to Mar 4, 2021
Signals
6 dated events
- A••••• R•••••• B••••••• (Chief Compliance Officer And Chief Operating Officer) no longer on Schedule A of S••••••••• A•••• M••••••••• L•• (listed 2024-03-26, absent 2024-07-10)Jul 10, 2024 · Control person left · inference
- R•••••• Nicholas Olson (Chief Financial Officer) appeared on Schedule A of S••••••••• A•••• M••••••••• L••Mar 25, 2024 · Control person joined · fact
- S••••••••• A•••• M••••••••• L•• reported RAUM $567.0M, down 27% from $774.7M (2022-03-03 to 2023-03-23)Mar 23, 2023 · RAUM change · derived
- S••••••••• A•••• M••••••••• L•• reported RAUM $774.7M, up 138% from $326.1M (2021-03-04 to 2022-03-03)Mar 3, 2022 · RAUM change · derived
- S••••••••• A•••• M••••••••• L•• reported RAUM $326.1M, up 88% from $173.3M (2020-06-22 to 2021-03-04)Mar 4, 2021 · RAUM change · derived
- S••••••••• A•••• M••••••••• L•• filed its initial SEC registration (Form ADV)Jun 22, 2020 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- S••••••••• A•••• M••••••••• L•• · Independent Sponsorsshared crd · capital_provider
- S••••••••• A•••• M••••••••• L•• · Private Equityshared crd · organization
- S••••••••• A•••• M••••••••• L•• · Venture Capitalshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/stillwater-asset-management-llcreportedpublic record, Form ADV, Sep 18, 2026
- Website
- S•••••••••ASSET.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 651-571-3910reportedpublic record, Form ADV, Jul 29, 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