DFX Intelligence

RIA Intelligence

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SEC-registered adviser

S••••••• A•••••••• L••

Asset manager (funds and pooled vehicles)Irvine, CaliforniaCRD 324002SEC 801-127225website IAPD

Latest filing Mar 31, 2026

First filing on the tape Dec 21, 2022 · 8 filings

SEC status approved since Jan 20, 2023

RAUM

$123M

reported, Item 5.F

Discretionary

63%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$40.9M

derived; firm RAUM over IAPD count

Employees

9 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

8 filings and snapshots on the tape

RAUM$123M as of Mar 31, 2026

Mar 29, 2024$105M then

HNW client RAUM: no history

State-registered IARs (5.B.3)3 as of Mar 31, 2026

Mar 29, 20247 then

Employees (5.A)25 as of Mar 31, 2026

Mar 29, 202427 then

Private funds8 as of Mar 31, 2026

Mar 29, 20248 then

RAUM +29% over the last fiscal yearIARs 3 to 3offices 2 to 1

Practice profile

derived from the filing of Mar 31, 2026; every figure names its basis

RAUM per advisor: $40.9MderivedRAUM 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: $13.6MderivedRAUM over accounts (5.F.2.f)
Discretionary: 63%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 8.3derivedItem 5.A over advisors
Advisors per office: 1.5derived2 offices incl. principal (1.F.5)
RAUM growth, one year: +29%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 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 businesses and institutions, portfolio management for pooled vehicles, selection of other advisersreportedItem 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

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)
a related person has custody of client cash (9.B.1.a)
a related person has custody of client securities (9.B.1.b)
an independent public accountant performs a surprise examination (9.C.1)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$74.1M96%
Other investment advisers$2.9M3.8%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 9reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: noreported
Compensation: % of AUM, fixed, performancereported
Class basis: private_client_share=0.0 fund_share=0.63 institutional_share=0.0 related_bd=false related_bank=false bd_reps=1.0derived

Advisors registered through the firm

3 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
J•• J••••	Irvine, Ca	Jan 20, 2023	10 y	1
M•••••• S••••	Irvine, Ca	Jan 23, 2023	20 y	2
H••••••••• H••	Irvine, Ca	Jan 1, 2026	10 y	0

Advisor movement

0 left, 0 joined in 12 months

net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount4 left over 36 months

Left, latest

M•••••• W•• to F••••••• P••••••• A•• W•••••••• A•••••••
Aug 13, 2024 · Other
N••••• Y•• J•• to F••••••• P••••••• A•• W•••••••• A•••••••
Jul 2, 2024 · Other
J•••••• Z••• to M•••••• L••••• P•••••• F••••• • S•••• I•••••••••
May 24, 2024 · Other
J••• S•• to J••• M••••• S••••••••• L••
May 24, 2024 · Other

Joined, latest

J••• S•• from E•••• A•••••••• L••
Nov 30, 2023 · Other
M•••••• W•• from E•••• A•••••••• L••
May 23, 2023 · Other
N••••• Y•• J•• from E•••• A•••••••• L••
May 12, 2023 · Other
M•••••• S•••• from M••••• S••••••
Jan 23, 2023 · Wirehouse to a newly registered adviser (no RAUM reported yet)
J•• J•••• from E•••• A•••••••• L••
Jan 20, 2023 · Other

Every departure Every arrival

Teams: two or more advisors moving together within fourteen days, from one state

4 joined from E•••• A•••••••• L••
Dec 31, 2020 · Irvine, Ca · Firm absorbed

Teams out Teams in

Private funds

8 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
S••••••• F•••• I••••• F••• I•• L••	Securitized Asset Fund	$74.4M	1	May 19, 2023
S••••••• D•••• F•••• L•••	Venture Capital Fund	$3.0M	2	Mar 29, 2024
L•• S••••••• F••• I•• L•	Venture Capital Fund	$2.3M	8	Mar 29, 2024
S••••••• H•••••• F••• I• L•	Venture Capital Fund	$1.9M	12	Mar 29, 2024
S••••••• H•••••• F••• I•• L•	Venture Capital Fund	$1.7M	3	Mar 29, 2024
L•• S••••••• F••• I• L•	Venture Capital Fund	$1.3M	16	Mar 29, 2024
S••••••• S•••••• I•• L••	Venture Capital Fund	$1.0M	5	Mar 29, 2024
S••••••• S•••••• I• L••	Venture Capital Fund	$650,000	10	Mar 29, 2024

Owners and control persons

Schedule A and B, latest filing

J••••• J•• · Managing Membercontrol
since 09/2022 · owns 10% to 25%
K••••••• J•••• P••• · Managing Member/Ceocontrol
since 09/2022 · owns 25% to 50%
S•••• J•••• Z•••• · Managing Membercontrol
since 09/2022 · owns 25% to 50%
S••••• M•••••• · Managing Member/Coocontrol
since 09/2022 · owns 25% to 50%
L••••• H••••••• S•••••••• · Chief Compliance Officer
since 01/2024 · owns less than 5%

Related persons

Schedule D 7.A

S••••••• M••••••••• I•••
pooled vehicle sponsorn

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Irvine, Ca · principal	3	1	0

Offices

Schedule D 1.F, the 25 largest

Long Beach, CA1 employees

ADV anomalies

1 against comparable advisers; where to look, not conclusions

discretionary share shiftChange between filings · filing Mar 31, 2026
discretionary share of RAUM moved from 81.0% to 63.0% between the annual amendments of 2025-03-28 and 2026-03-31
peers: asset managers, $100M to $500M (1,568)

How anomalies are measured

What changed

consecutive filings, newest first

Advisory employees · 7 to 9
Mar 28, 2025 to Mar 31, 2026
BD registered reps · 0 to 1
Mar 28, 2025 to Mar 31, 2026
Employees · 19 to 25
Mar 28, 2025 to Mar 31, 2026
Other offices · 2 to 1
Mar 28, 2025 to Mar 31, 2026
Discretionary RAUM · $77.3M to $77.0M
Mar 28, 2025 to Mar 31, 2026
Non-discretionary RAUM · $18.3M to $45.9M
Mar 28, 2025 to Mar 31, 2026
Pooled vehicle RAUM · $74.2M to $74.1M
Mar 28, 2025 to Mar 31, 2026
RAUM · $95.6M to $123M
Mar 28, 2025 to Mar 31, 2026
Advisory employees · 10 to 7
Jul 2, 2024 to Mar 28, 2025
BD registered reps · 4 to 0
Jul 2, 2024 to Mar 28, 2025
Assets in custody · 104918690.0 to unset
Jul 2, 2024 to Mar 28, 2025
Custody of client assets · true to false
Jul 2, 2024 to Mar 28, 2025
Employees · 26 to 19
Jul 2, 2024 to Mar 28, 2025
Financial planning clients · unset to
Jul 2, 2024 to Mar 28, 2025
State-registered IARs · 6 to 3
Jul 2, 2024 to Mar 28, 2025
Other offices · 1 to 2
Jul 2, 2024 to Mar 28, 2025
Discretionary RAUM · $86.2M to $77.3M
Jul 2, 2024 to Mar 28, 2025
Non-discretionary RAUM · $18.7M to $18.3M
Jul 2, 2024 to Mar 28, 2025
Pooled vehicle RAUM · $83.2M to $74.2M
Jul 2, 2024 to Mar 28, 2025
RAUM · $105M to $95.6M
Jul 2, 2024 to Mar 28, 2025
Advisory employees · 11 to 10
Mar 29, 2024 to Jul 2, 2024
Employees · 27 to 26
Mar 29, 2024 to Jul 2, 2024
State-registered IARs · 7 to 6
Mar 29, 2024 to Jul 2, 2024
Other offices · 2 to 1
Mar 29, 2024 to Jul 2, 2024
Accounts · 2 to 9
Jan 19, 2024 to Mar 29, 2024
Advisory employees · 10 to 11
Jan 19, 2024 to Mar 29, 2024
Advisory activities · 2 to 3
Jan 19, 2024 to Mar 29, 2024
BD registered reps · 0 to 4
Jan 19, 2024 to Mar 29, 2024
Pooled vehicle clients · 1 to 8
Jan 19, 2024 to Mar 29, 2024
Assets in custody · unset to 104918690.0
Jan 19, 2024 to Mar 29, 2024
Custody of client assets · false to true
Jan 19, 2024 to Mar 29, 2024
Employees · 12 to 27
Jan 19, 2024 to Mar 29, 2024
State-registered IARs · 5 to 7
Jan 19, 2024 to Mar 29, 2024
Other offices · 0 to 2
Jan 19, 2024 to Mar 29, 2024
Private funds · 1 to 8
Jan 19, 2024 to Mar 29, 2024
Discretionary RAUM · $110M to $86.2M
Jan 19, 2024 to Mar 29, 2024
Non-discretionary RAUM · $20.5M to $18.7M
Jan 19, 2024 to Mar 29, 2024
Pooled vehicle RAUM · $110M to $83.2M
Jan 19, 2024 to Mar 29, 2024
RAUM · $130M to $105M
Jan 19, 2024 to Mar 29, 2024
Related adviser · false to true
Jan 19, 2024 to Mar 29, 2024

Signals

5 dated events

M•••••• W•• left S••••••• A•••••••• L•• for F••••••• P••••••• A•• W•••••••• A••••••• (registered 2024-08-14)
Aug 13, 2024 · Advisor changed firm · fact
N••••• Y•• J•• left S••••••• A•••••••• L•• for F••••••• P••••••• A•• W•••••••• A••••••• (registered 2024-08-20)
Jul 2, 2024 · Advisor changed firm · fact
J••• S•• left S••••••• A•••••••• L•• for J••• M••••• S••••••••• L•• (registered 2024-07-01)
May 24, 2024 · Advisor changed firm · fact
J•••••• Z••• left S••••••• A•••••••• L•• for M•••••• L••••• P•••••• F••••• • S•••• I••••••••• (registered 2026-01-14)
May 24, 2024 · Advisor changed firm · fact
S••••••• A•••••••• L•• filed its initial SEC registration (Form ADV)
Dec 21, 2022 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

S••••••• A•••••••• L•• · Venture Capital
shared crd · organization

How to reach

public business contact points only, each with its source

Firm profile: linkedin.com/company/sunstoneadvisorsllcreportedpublic record, Form ADV, Sep 21, 2026
Firm profile: linkedin.com/company/sunstonemanagementreportedpublic record, Form ADV, Sep 21, 2026
Website: s•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
Principal office phone: 949-771-1764reportedpublic 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: Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
RAUM per advisor: $40.9Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026