# Air Asset Management

> Air Asset Management is an SEC-registered investment advisory firm in Chicago, IL, registered since 2017, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.

- CRD: 288165
- Filed as: AIR ASSET MANAGEMENT
- Legal name: Alternative Investment Resource, LLC
- Also doing business as: AIR ASSET MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: July 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/288165
- AdvisorCensus page: https://advisorcensus.com/firm/air-asset-management-chicago-il-288165

## Quick answers

**How is Air Asset Management compensated?**
On its Form ADV (Item 5.E, October 2026), Air Asset Management reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Air Asset Management located?**
Air Asset Management's principal office is in Chicago, IL, according to its Form ADV.

**Is Air Asset Management registered with the SEC or a state?**
Air Asset Management is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 288165.

**How much does Air Asset Management manage?**
Air Asset Management reports $754,174,738 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (94% discretionary).

**How have Air Asset Management's assets and staff changed since 2021?**
In the Form ADV data for Air Asset Management: Regulatory assets under management: $346,149,911 in the October 2021 data and $754,174,738 in the October 2026 data, up 118%. Total employees: 9 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Air Asset Management serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13); other investment advisers (1).

**Which custodians does Air Asset Management use?**
Air Asset Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Caceis Bank as a custodian holding 10% or more of its separately managed account assets.

**Does Air Asset Management 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/288165

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

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Caceis Bank

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $754,174,738
- Discretionary: $707,466,416
- Non-discretionary: $46,708,322

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 13 | $707,466,416 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 1 | $46,708,322 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2017 (9 years)
- Employees: 18 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- airassetmanagement.com
- vimeo.com/airassetmanagement
- Instagram @airassetmanagement
- LinkedIn @air-asset-management
- X @AIRAssetMngmt
- YouTube @UCXEG3pnM1vVQOnzq0ncWhsw

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $346,149,911 | 9 | September 7, 2021 |
| October 2022 | $534,230,153 | 14 | March 22, 2022 |
| October 2023 | $606,733,685 | 14 | March 31, 2023 |
| October 2024 | $738,045,480 | 21 | September 23, 2024 |
| October 2025 | $704,444,092 | 20 | March 31, 2025 |
| October 2026 | $754,174,738 | 18 | July 30, 2026 |

Regulatory assets under management: $346,149,911 in the October 2021 data and $754,174,738 in the October 2026 data, up 118%.
Total employees: 9 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Item 11 disclosure answers changed: 0 yes answers, previously 1 (now no: 11.D(2)).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Air Asset Management (CRD 288165): Form ADV filing data as of October 2026.