# BH3 Fund Advisors, LLC

> BH3 Fund Advisors, LLC is an SEC-registered investment advisory firm in Fort Lauderdale, FL, registered since 2024, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated July 7, 2026.

- CRD: 298967
- Filed as: BH3 FUND ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Fort Lauderdale, FL
- Filing period: October 2026
- Form ADV filing dated: July 7, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/298967
- AdvisorCensus page: https://advisorcensus.com/firm/bh3-fund-advisors-llc-fort-lauderdale-fl-298967

## Quick answers

**How is BH3 Fund Advisors, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), BH3 Fund Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does BH3 Fund Advisors, LLC charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is BH3 Fund Advisors, LLC located?**
BH3 Fund Advisors, LLC's principal office is in Fort Lauderdale, FL, according to its Form ADV; the August 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is BH3 Fund Advisors, LLC registered with the SEC or a state?**
BH3 Fund Advisors, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 298967.

**How much does BH3 Fund Advisors, LLC manage?**
BH3 Fund Advisors, LLC reports $578,128,312 in regulatory assets under management in its Form ADV filing dated July 7, 2026 (87% discretionary).

**How have BH3 Fund Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for BH3 Fund Advisors, LLC: Regulatory assets under management: $175,533,285 in the October 2024 data and $578,128,312 in the October 2026 data, up 229%. Total employees: 28 in October 2024 and 29 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does BH3 Fund Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9).

**Does BH3 Fund Advisors, LLC 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/298967

**What changed in BH3 Fund Advisors, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 11 to 13. Regulatory assets under management went from $526,088,285 to $584,732,168 (+11%). 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
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states)

> In the case of the BH3 Debt Funds, the Management Fee is generally charged at an annual rate of up to approximately 1.5% and is typically calculated as a percentage of an investor’s contributed capital, committed capital or a combination thereof, as specified in the applicable Governing Documents.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $578,128,312
- Discretionary: $503,128,312
- Non-discretionary: $75,000,000

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $578,128,312 |

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

### Firm details
- Registered since: 2024 (2 years)
- Employees: 29 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Denver, CO
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- advisors.bh-3.com
- bh-3.com
- Instagram @bh3management
- LinkedIn @bh3-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | March 5, 2021 |
| October 2022 | Not reported | Not reported | April 1, 2022 |
| October 2023 | Not reported | Not reported | March 31, 2023 |
| October 2024 | $175,533,285 | 28 | May 7, 2024 |
| October 2025 | $526,088,285 | 28 | March 25, 2025 |
| October 2026 | $578,128,312 | 29 | July 7, 2026 |

Regulatory assets under management: $175,533,285 in the October 2024 data and $578,128,312 in the October 2026 data, up 229%.
Total employees: 28 in October 2024 and 29 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 11 to 13.
- Regulatory assets under management went from $526,088,285 to $584,732,168 (+11%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. BH3 Fund Advisors, LLC (CRD 298967): Form ADV filing data as of October 2026.