{
  "crd_number": 171365,
  "slug": "advantage-capital-new-orleans-la-171365",
  "primary_business_name": "ADVANTAGE CAPITAL",
  "legal_name": "ADVANTAGE CAPITAL INVESTMENT ADVISER, LLC",
  "dbas": [
    "AC FED LIHTC MANAGER 1B, LLC (RELYING ADVISER)",
    "ADVANTAGE CAPITAL AGRIBUSINESS GP, L.L.C. (RELYING ADVISER)",
    "ADVANTAGE CAPITAL AGRIBUSINESS MANAGER, L.L.C. (RELYING ADVISER)",
    "ADVANTAGE CAPITAL ETCF GP, LLC (RELYING ADVISER)",
    "ETCF MANAGEMENT LLC (RELYING ADVISER)"
  ],
  "city": "New Orleans",
  "state": "LA",
  "country": "United States",
  "cbsa_code": "35380",
  "metro": {
    "cbsa_code": "35380",
    "common_name": "New Orleans",
    "msa_name": "New Orleans-Metairie, LA",
    "path": "/advisors/la/new-orleans"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2014-09-30",
  "years_registered": 12,
  "period": "2026-10-01",
  "filing_date": "2026-05-14",
  "carried_forward": false,
  "raum_total": 1294679102.0,
  "raum_discretionary": 1288230474.0,
  "raum_non_discretionary": 6448628.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 230,
  "advisory_employees": 130,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 1294679102.0,
      "count": 16
    }
  },
  "compensation_types": [
    "other",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "LA",
    "MO",
    "NH",
    "TX"
  ],
  "websites": [
    "https://advantagecap.com",
    "https://coloradocredits.advantagecap.com",
    "https://facebook.com/AdvantageCapitalGrowthReady",
    "https://impactreport.advantagecap.com",
    "https://instatepartners.com",
    "https://linkedin.com/company/advantagecapital",
    "https://medium.com/@AdvantageCapital",
    "https://midyearsurvey.advantagecap.com",
    "https://missouri.advantagecap.com",
    "https://x.com/AC GrowthReady",
    "https://yearendsurvey.advantagecap.com",
    "https://youtube.com/advantagecapital9627"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/171365",
  "city_as_filed": "NEW ORLEANS",
  "url": "https://advisorcensus.com/firm/advantage-capital-new-orleans-la-171365",
  "display_name": "Advantage Capital",
  "summary": "Advantage Capital is an SEC-registered investment advisory firm in New Orleans, LA, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 14, 2026.",
  "citation": "AdvisorCensus. Advantage Capital (CRD 171365): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Advantage Capital compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Advantage Capital reports these compensation arrangements: performance-based fees; other."
    },
    {
      "q": "Where is Advantage Capital located?",
      "a": "Advantage Capital's principal office is in New Orleans, LA, according to its Form ADV; the June 2026 filing also lists 6 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Advantage Capital registered with the SEC or a state?",
      "a": "Advantage Capital is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 171365."
    },
    {
      "q": "How much does Advantage Capital manage?",
      "a": "Advantage Capital reports $1,294,679,102 in regulatory assets under management in its Form ADV filing dated May 14, 2026 (100% discretionary)."
    },
    {
      "q": "How have Advantage Capital's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Advantage Capital: Regulatory assets under management: $161,515,628 in the October 2021 data and $1,294,679,102 in the October 2026 data, up 702%. Total employees: 135 in October 2021 and 230 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Advantage Capital serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (16)."
    },
    {
      "q": "Does Advantage Capital report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/171365"
    },
    {
      "q": "What changed in Advantage Capital's recent Form ADV filings?",
      "a": "In the June 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 161515628.0,
      "total_employees": 135,
      "filing_date": "2021-05-05"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 205185934.0,
      "total_employees": 140,
      "filing_date": "2022-09-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 570040744.0,
      "total_employees": 150,
      "filing_date": "2023-05-18"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 824796567.0,
      "total_employees": 180,
      "filing_date": "2024-05-01"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 789906562.0,
      "total_employees": 215,
      "filing_date": "2025-05-22"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1294679102.0,
      "total_employees": 230,
      "filing_date": "2026-05-14"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 95 to 130.",
        "Changed its office addresses in Austin, TX.",
        "Added an office in Portsmouth, NH.",
        "No longer lists an office in Las Vegas, NV.",
        "Registered or notice-filed in NH.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Regulatory assets under management went from $789,906,562 to $1,285,071,409 (+63%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/advantage-capital-new-orleans-la-171365.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 16,
      "fewer_than_5": false,
      "raum": 1294679102.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/171365",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}