DFX Intelligence
RIA Intelligence
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SEC-registered adviser
P•••• 3• C•••••• M••••••••• L••
Latest filing Sep 2, 2026
First filing on the tape Apr 4, 2018 · 17 filings
SEC status approved since May 4, 2018
RAUM
$2.5B
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
9
4 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$2.5B as of Mar 30, 2026
Mar 28, 2019$900M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 28, 20190 then
Employees (5.A)9 as of Mar 30, 2026
Mar 28, 20195 then
Private funds2 as of Mar 30, 2026
Mar 27, 20201 then
RAUM -9.4% over the last fiscal year+36% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Sep 2, 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
- $423MderivedRAUM 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
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -9.4%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
- Custody
- $167M, 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
- 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)
- 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$2.5B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 6reported
- Financial planning clients
- n/areported
- Wrap fee programs
- noreported
- Custody of client assets
- $167M for 2 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd= related_bank= 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
2 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| P••••• G••••• R•••• F••• L•• | Hedge Fund | $101M | 3 | Mar 23, 2023 |
| P••••• M••••• F••• L•• | Hedge Fund | $19.0M | 31 | Mar 27, 2020 |
Owners and control persons
Schedule A and B, latest filing
- A••••• K••••• S••• · Portfolio Manager, And Founding Principalcontrolsince 03/2018 · owns less than 5%
- H•••••• S••••• B•••••• · Portfolio Manager And Founding Principalcontrolsince 03/2018 · owns less than 5%
- W••••• E••• M•••••• · Chief Financial Officer / Chief Compliance Officercontrolsince 06/2019 · owns less than 5%
- Y••••••••• E••••• S•••• · Founder, Chief Investment Officer, And Chief Executive Officercontrolsince 03/2018 · owns less than 5%
- Y••••••••• E••••• S•••• · Limited Partnercontrolsince 03/2018 · owns 50% to 75% of P•••• 3• H••••••• L•
Entity owners
- P•••• 3• H••••••• L• · Sole Shareholderdirect · owns 75% or more
- P•••• 3• G• L•• · General Partnerindirect · owns F of P•••• 3• H••••••• L•
Related persons
Schedule D 7.A
No related person reported.
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Financial planning clients · to unsetMar 30, 2026 to Sep 2, 2026
- Private funds · 2 to unsetMar 30, 2026 to Sep 2, 2026
- Related adviser · false to unsetMar 30, 2026 to Sep 2, 2026
- Related bank · false to unsetMar 30, 2026 to Sep 2, 2026
- Related broker-dealer · false to unsetMar 30, 2026 to Sep 2, 2026
- Related insurance company · false to unsetMar 30, 2026 to Sep 2, 2026
- Succession · false to unsetMar 30, 2026 to Sep 2, 2026
- Accounts · 7 to 6Apr 29, 2025 to Mar 30, 2026
- Pooled vehicle clients · 7 to 6Apr 29, 2025 to Mar 30, 2026
- Assets in custody · $268M to $167MApr 29, 2025 to Mar 30, 2026
- Discretionary RAUM · $2.8B to $2.5BApr 29, 2025 to Mar 30, 2026
- Pooled vehicle RAUM · $2.8B to $2.5BApr 29, 2025 to Mar 30, 2026
- RAUM · $2.8B to $2.5BApr 29, 2025 to Mar 30, 2026
- Pooled vehicle clients · 6 to 7Nov 22, 2024 to Apr 29, 2025
- Assets in custody · $1.3B to $268MNov 22, 2024 to Apr 29, 2025
- Employees · 8 to 9Nov 22, 2024 to Apr 29, 2025
- Financial planning clients · unset to Nov 22, 2024 to Apr 29, 2025
- HQ city · NORTHBROOK to BOCA RATONNov 22, 2024 to Apr 29, 2025
- HQ state · IL to FLNov 22, 2024 to Apr 29, 2025
- Discretionary RAUM · $1.3B to $2.8BNov 22, 2024 to Apr 29, 2025
- Pooled vehicle RAUM · $1.3B to $2.8BNov 22, 2024 to Apr 29, 2025
- RAUM · $1.3B to $2.8BNov 22, 2024 to Apr 29, 2025
- Other offices · 0 to 1Oct 4, 2024 to Nov 22, 2024
- Accounts · 5 to 7Mar 23, 2023 to Mar 21, 2024
- Pooled vehicle clients · 5 to 6Mar 23, 2023 to Mar 21, 2024
- Assets in custody · $142M to $1.3BMar 23, 2023 to Mar 21, 2024
- Employees · 7 to 8Mar 23, 2023 to Mar 21, 2024
- Discretionary RAUM · $1.0B to $1.3BMar 23, 2023 to Mar 21, 2024
- Pooled vehicle RAUM · $1.0B to $1.3BMar 23, 2023 to Mar 21, 2024
- RAUM · $1.0B to $1.3BMar 23, 2023 to Mar 21, 2024
- Accounts · 4 to 5Mar 14, 2022 to Mar 23, 2023
- Pooled vehicle clients · 4 to 5Mar 14, 2022 to Mar 23, 2023
- Assets in custody · $56.7M to $142MMar 14, 2022 to Mar 23, 2023
- Private funds · 1 to 2Mar 14, 2022 to Mar 23, 2023
- Discretionary RAUM · $1.6B to $1.0BMar 14, 2022 to Mar 23, 2023
- Pooled vehicle RAUM · $1.6B to $1.0BMar 14, 2022 to Mar 23, 2023
- RAUM · $1.6B to $1.0BMar 14, 2022 to Mar 23, 2023
- Accounts · 3 to 4Oct 6, 2021 to Mar 14, 2022
- Pooled vehicle clients · 3 to 4Oct 6, 2021 to Mar 14, 2022
- Assets in custody · $15.2M to $56.7MOct 6, 2021 to Mar 14, 2022
Signals
9 dated events
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $2.8B, up 120% from $1.3B (2024-11-22 to 2025-04-29)Apr 29, 2025 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $1.3B, up 26% from $1.0B (2023-03-23 to 2024-03-21)Mar 21, 2024 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $1.0B, down 39% from $1.6B (2022-03-14 to 2023-03-23)Mar 23, 2023 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $1.6B, up 62% from $1.0B (2021-10-06 to 2022-03-14)Mar 14, 2022 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $1.0B, down 52% from $2.1B (2020-03-27 to 2021-03-25)Mar 25, 2021 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $2.1B, up 135% from $900.2M (2019-10-14 to 2020-03-27)Mar 27, 2020 · RAUM change · derived
- Eric Matthew White (Chief Financial Officer / Chief Compliance Officer) appeared on Schedule A of P•••• 3• C•••••• M••••••••• L••Jul 11, 2019 · Control person joined · fact
- P•••• 3• C•••••• M••••••••• L•• reported RAUM $900.2M, up 657% from $118.9M (2018-07-09 to 2019-03-28)Mar 28, 2019 · RAUM change · derived
- P•••• 3• C•••••• M••••••••• L•• filed its initial SEC registration (Form ADV)Apr 4, 2018 · 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/phase-3-capital-management-llc/aboutreportedpublic record, Form ADV, Sep 21, 2026
- Website
- p•••.comreportedpublic record, Form ADV, Sep 21, 2026
- Principal office phone
- 312-858-3800reportedpublic record, Form ADV, Sep 2, 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