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
Ducenta Squared Asset Management
Legal name R Squared Bm LLC
Latest filing Mar 31, 2026
First filing on the tape May 5, 2020 · 16 filings
SEC status approved since Jun 5, 2020
RAUM
$3.3B
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
17%
$565M individuals and HNW
Advisors
4
registered through the firm on IAPD
RAUM per advisor
$837M
derived; firm RAUM over IAPD count
Employees
15
6 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
16 filings and snapshots on the tape
RAUM$3.3B as of Mar 31, 2026
Mar 30, 2021$3.1B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 30, 20217 then
Employees (5.A)15 as of Mar 31, 2026
Mar 30, 202119 then
Private funds1 as of Mar 21, 2022
Mar 30, 20211 then
RAUM +5.7% over the last fiscal year+4.1% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- Institutional asset manager · institutional share (pensions, government, insurance, corporations, charities, banks, other advisers) at least 60 percent and private-client share under 20 percent
- RAUM per advisor
- $837MderivedRAUM 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
- $7.3MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 96%derivedof RAUM
- Institutional
- 67%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 3.8derivedItem 5.A over advisors
- Advisors per office
- 1.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +5.7%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, fixed fees, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for businesses and institutionsreportedItem 5.G
- Wrap fee program
- participatesreportedItem 5.I
- 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)
- receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pension and profit-sharing plans$1.8B55%
- Individuals$565M18%
- State and municipal entities$412M13%
- Corporations and businesses$412M13%
- Charitable organizations$43.0M1.3%
- Individual clients
- 424reported
- HNW clients
- n/areported
- Pension plan clients
- 10reported
- Charitable clients
- 2reported
- Accounts
- 457reported
- Financial planning clients
- 0reported
- Wrap fee programs
- $0 sponsored, $565M managedreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, performancereported
- Class basis
- private_client_share=0.17 fund_share=0.0 institutional_share=0.67 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
4 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Mark Steven Kavolius | El Segundo, Ca | Aug 11, 2020 | 31 y | 4 |
| Michael George Sanchez | El Segundo, Ca | Aug 21, 2020 | 28 y | 2 |
| Timothy Patrick TorlineChartered Financial Analyst | El Segundo, Ca | Jan 29, 2024 | 18 y | 0 |
| Ryan OmalleyChartered Financial Analyst | El Segundo, Ca | Jan 29, 2024 | 10 y | 1 |
Advisor movement
1 left, 0 joined in 12 months
net -1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 25% of current headcount1 left over 36 months
Left, latest
- John Matthew Heitkemper to Gould Asset Management LLCNov 4, 2025 · Other
Joined, latest
- Ryan Omalley from Sage Advisory Services Ltd CoJan 29, 2024 · Other
- Michael George Sanchez from Tortoise Credit Strategies, LLCAug 21, 2020 · Other
- Mark Steven Kavolius from Tortoise Credit Strategies, LLCAug 11, 2020 · Other
- John Matthew Heitkemper from Tortoise Credit Strategies, LLCAug 3, 2020 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Tortoise Credit Strategies, LLCJul 21, 2020 · Los Angeles, Ca
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| B&M Clo 2014-1, Ltdno longer reported | Securitized Asset Fund | $29.1M | 5 | Mar 16, 2015 |
Owners and control persons
Schedule A and B, latest filing
- Eric Jeffrey Brothers · Advisorcontrolsince 08/2020 · owns less than 5%
- Anthony Joel Damiani · Chief Investment Officercontrolsince 01/2024 · owns less than 5%
- David Myungkyu Kang · Chairman And Ceocontrolsince 03/2020 · owns less than 5%
- Yuhyun Brian Kim · President - Administrationcontrolsince 03/2020 · owns less than 5%
- Patrick Timothy Torline · President Investment Operationscontrolsince 01/2024 · owns less than 5%
- David Myungkyu Kang · Managing Membercontrolsince 06/2019 · owns 25% to 50% of Rsmd Investco LLC
- Michael Leung · Member/Shareholder W/O Management Rightscontrolsince 06/2019 · owns 25% to 50% of Rsmd Investco LLC
- Jason Rall · Chief Compliance Officersince 07/2020 · owns less than 5%
Entity owners
- Rsmd Investco LLC · Shareholderdirect · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| El Segundo, Ca · principal | 4 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 467 to 457Sep 22, 2025 to Mar 31, 2026
- Advisory employees · 10 to 6Sep 22, 2025 to Mar 31, 2026
- Charity clients · 26 to 2Sep 22, 2025 to Mar 31, 2026
- Corporate clients · 71 to 10Sep 22, 2025 to Mar 31, 2026
- Individual clients · 335 to 424Sep 22, 2025 to Mar 31, 2026
- Pension plan clients · 24 to 10Sep 22, 2025 to Mar 31, 2026
- Employees · 19 to 15Sep 22, 2025 to Mar 31, 2026
- Discretionary RAUM · $2.9B to $3.2BSep 22, 2025 to Mar 31, 2026
- Individual RAUM · $296M to $565MSep 22, 2025 to Mar 31, 2026
- Non-discretionary RAUM · $266M to $137MSep 22, 2025 to Mar 31, 2026
- Pension RAUM · $1.7B to $1.8BSep 22, 2025 to Mar 31, 2026
- RAUM · $3.2B to $3.3BSep 22, 2025 to Mar 31, 2026
- Wrap assets (manager) · $539M to $565MSep 22, 2025 to Mar 31, 2026
- Financial planning clients · 0 to 0Mar 27, 2025 to Sep 22, 2025
- HQ city · LOS ANGELES to EL SEGUNDOMar 27, 2025 to Sep 22, 2025
- Accounts · 472 to 467Mar 28, 2024 to Mar 27, 2025
- Advisory employees · 11 to 10Mar 28, 2024 to Mar 27, 2025
- Charity clients · 31 to 26Mar 28, 2024 to Mar 27, 2025
- Corporate clients · 83 to 71Mar 28, 2024 to Mar 27, 2025
- Individual clients · 313 to 335Mar 28, 2024 to Mar 27, 2025
- Pension plan clients · 23 to 24Mar 28, 2024 to Mar 27, 2025
- Financial planning clients · unset to 0Mar 28, 2024 to Mar 27, 2025
- State-registered IARs · 7 to 0Mar 28, 2024 to Mar 27, 2025
- Discretionary RAUM · $3.2B to $2.9BMar 28, 2024 to Mar 27, 2025
- Individual RAUM · $198M to $296MMar 28, 2024 to Mar 27, 2025
- Non-discretionary RAUM · $349M to $266MMar 28, 2024 to Mar 27, 2025
- Pension RAUM · $1.6B to $1.7BMar 28, 2024 to Mar 27, 2025
- RAUM · $3.6B to $3.2BMar 28, 2024 to Mar 27, 2025
- Wrap assets (manager) · $537M to $539MMar 28, 2024 to Mar 27, 2025
- Accounts · 494 to 472Mar 29, 2023 to Mar 28, 2024
- Charity clients · 35 to 31Mar 29, 2023 to Mar 28, 2024
- Corporate clients · 93 to 83Mar 29, 2023 to Mar 28, 2024
- Individual clients · 323 to 313Mar 29, 2023 to Mar 28, 2024
- Pension plan clients · 22 to 23Mar 29, 2023 to Mar 28, 2024
- Employees · 18 to 19Mar 29, 2023 to Mar 28, 2024
- State-registered IARs · 6 to 7Mar 29, 2023 to Mar 28, 2024
- Discretionary RAUM · $3.0B to $3.2BMar 29, 2023 to Mar 28, 2024
- Individual RAUM · $209M to $198MMar 29, 2023 to Mar 28, 2024
- Non-discretionary RAUM · $0 to $349MMar 29, 2023 to Mar 28, 2024
- Pension RAUM · $1.5B to $1.6BMar 29, 2023 to Mar 28, 2024
Signals
7 dated events
- John Matthew Heitkemper left Ducenta Squared Asset Management for Gould Asset Management Llc (registered 2024-11-08)Nov 4, 2025 · Advisor changed firm · fact
- Anthony Joel Damiani (Chief Investment Officer) appeared on Schedule A of Ducenta Squared Asset ManagementMar 28, 2024 · Control person joined · fact
- Patrick Timothy Torline (President Investment Operations) appeared on Schedule A of Ducenta Squared Asset ManagementMar 28, 2024 · Control person joined · fact
- Lockey Chad Strean (Executive Vice President) no longer on Schedule A of Ducenta Squared Asset Management (listed 2021-04-09, absent 2021-04-20)Apr 20, 2021 · Control person left · inference
- Eric Jeffrey Brothers (Chief Investment Officer) appeared on Schedule A of Ducenta Squared Asset ManagementMar 30, 2021 · Control person joined · fact
- Lockey Chad Strean (Executive Vice President) appeared on Schedule A of Ducenta Squared Asset ManagementMar 30, 2021 · Control person joined · fact
- Ducenta Squared Asset Management filed its initial SEC registration (Form ADV)May 5, 2020 · 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/65547701/adminreportedpublic record, Form ADV, Sep 17, 2026
- Website
- ducentasquared.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (213) 687-9170reportedpublic record, Form ADV, Mar 31, 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
- $837Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026