# 1st & Main Growth Partners

> 1st & Main Growth Partners is an SEC-registered investment advisory firm in Chicago, IL, registered since 1997, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated April 28, 2026.

- CRD: 106305
- Filed as: 1ST & MAIN GROWTH PARTNERS
- Legal name: The Banc Funds Company, L.L.C.
- Also doing business as: 1ST & MAIN GROWTH PARTNERS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: April 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106305
- AdvisorCensus page: https://advisorcensus.com/firm/1st-and-main-growth-partners-chicago-il-106305

## Quick answers

**How is 1st & Main Growth Partners compensated?**
On its Form ADV (Item 5.E, October 2026), 1st & Main Growth Partners reports these compensation arrangements: performance-based fees; other.

**Where is 1st & Main Growth Partners located?**
1st & Main Growth Partners' principal office is in Chicago, IL, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is 1st & Main Growth Partners registered with the SEC or a state?**
1st & Main Growth Partners is an SEC-registered investment advisory firm, registered since 1997. Status as filed: Approved. CRD 106305.

**How much does 1st & Main Growth Partners manage?**
1st & Main Growth Partners reports $680,414,583 in regulatory assets under management in its Form ADV filing dated April 28, 2026 (100% discretionary).

**How have 1st & Main Growth Partners' assets and staff changed since 2021?**
In the Form ADV data for 1st & Main Growth Partners: Regulatory assets under management: $1,105,404,966 in the October 2021 data and $680,414,583 in the October 2026 data, down 38%. Total employees: 14 in October 2021 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does 1st & Main Growth Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3).

**Does 1st & Main Growth Partners report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation) and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106305

**What changed in 1st & Main Growth Partners' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $957,376,625 to $680,414,583 (-29%).

## From the Form ADV filing

### Compensation (Item 5.E)
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $680,414,583
- Discretionary: $680,414,583
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $680,414,583 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 1997 (29 years)
- Employees: 13 total, 10 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106305

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Palm Beach, FL

### Websites listed on Form ADV (Item 1.I)
- 1standmain.co

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,105,404,966 | 14 | May 28, 2021 |
| October 2022 | $1,316,413,639 | 16 | March 28, 2022 |
| October 2023 | $1,173,494,894 | 17 | March 30, 2023 |
| October 2024 | $1,077,342,851 | 18 | March 26, 2024 |
| October 2025 | $957,376,625 | 15 | March 28, 2025 |
| October 2026 | $680,414,583 | 13 | April 28, 2026 |

Regulatory assets under management: $1,105,404,966 in the October 2021 data and $680,414,583 in the October 2026 data, down 38%.
Total employees: 14 in October 2021 and 13 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $957,376,625 to $680,414,583 (-29%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. 1st & Main Growth Partners (CRD 106305): Form ADV filing data as of October 2026.