# Advantage Capital

> 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.

- CRD: 171365
- Filed as: ADVANTAGE CAPITAL
- Legal name: Advantage Capital Investment Adviser, LLC
- Also doing business as: 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)
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New Orleans, LA
- Filing period: October 2026
- Form ADV filing dated: May 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/171365
- AdvisorCensus page: https://advisorcensus.com/firm/advantage-capital-new-orleans-la-171365

## Quick answers

**How is Advantage Capital compensated?**
On its Form ADV (Item 5.E, October 2026), Advantage Capital reports these compensation arrangements: performance-based fees; other.

**Where is Advantage Capital located?**
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).

**Is Advantage Capital registered with the SEC or a state?**
Advantage Capital is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 171365.

**How much does Advantage Capital manage?**
Advantage Capital reports $1,294,679,102 in regulatory assets under management in its Form ADV filing dated May 14, 2026 (100% discretionary).

**How have Advantage Capital's assets and staff changed since 2021?**
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.

**What types of clients does Advantage Capital serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (16).

**Does Advantage Capital report any disciplinary disclosures?**
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

**What changed in Advantage Capital's recent Form ADV filings?**
In the June 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $1,294,679,102
- Discretionary: $1,288,230,474
- Non-discretionary: $6,448,628

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 16 | $1,294,679,102 |

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

### Firm details
- Registered since: 2014 (12 years)
- Employees: 230 total, 130 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: LA, MO, NH, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Austin, TX
- Hanover, NH
- Napa, CA
- New York, NY
- Portsmouth, NH
- St. Louis, MO

### Websites listed on Form ADV (Item 1.I)
- advantagecap.com
- coloradocredits.advantagecap.com
- impactreport.advantagecap.com
- instatepartners.com
- medium.com/@AdvantageCapital
- midyearsurvey.advantagecap.com
- missouri.advantagecap.com
- yearendsurvey.advantagecap.com
- Facebook @AdvantageCapitalGrowthReady
- LinkedIn @advantagecapital
- X @AC GrowthReady
- YouTube @advantagecapital9627

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $161,515,628 | 135 | May 5, 2021 |
| October 2022 | $205,185,934 | 140 | September 28, 2022 |
| October 2023 | $570,040,744 | 150 | May 18, 2023 |
| October 2024 | $824,796,567 | 180 | May 1, 2024 |
| October 2025 | $789,906,562 | 215 | May 22, 2025 |
| October 2026 | $1,294,679,102 | 230 | May 14, 2026 |

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.

## Changes in the filing (last 12 months)

### June 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- 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).

### January 2026
- 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).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Advantage Capital (CRD 171365): Form ADV filing data as of October 2026.