{ "crd_number": 109088, "slug": "bitterroot-capital-advisors-llc-bozeman-mt-109088", "primary_business_name": "BITTERROOT CAPITAL ADVISORS LLC", "legal_name": "BITTERROOT CAPITAL ADVISORS LLC", "dbas": [], "city": "Bozeman", "state": "MT", "country": "United States", "cbsa_code": "14580", "metro": { "cbsa_code": "14580", "common_name": "Bozeman", "msa_name": "Bozeman, MT", "path": "/advisors/mt/bozeman" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2000-10-20", "years_registered": 25, "period": "2026-10-01", "filing_date": "2026-08-24", "carried_forward": false, "raum_total": 1780038798.0, "raum_discretionary": 253984337.0, "raum_non_discretionary": 1526054461.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 7, "advisory_employees": 7, "client_count_bucket": null, "clients_by_type": { "high_net_worth_individuals": { "raum": 1780038798.0, "count": 20 } }, "compensation_types": [ "fixed", "percentage_of_aum" ], "advisory_activities": [ "financial_planning", "other", "portfolio_management_businesses_institutional", "portfolio_management_individuals", "selection_of_other_advisers" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "MT", "TX" ], "websites": [ "https://bitterrootcapital.com", "https://linkedin.com/company/bitterroot-capital-advisors" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/109088", "city_as_filed": "BOZEMAN", "url": "https://advisorcensus.com/firm/bitterroot-capital-advisors-llc-bozeman-mt-109088", "display_name": "Bitterroot Capital Advisors LLC", "summary": "Bitterroot Capital Advisors LLC is an SEC-registered investment advisory firm in Bozeman, MT, registered since 2000, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 24, 2026.", "citation": "AdvisorCensus. Bitterroot Capital Advisors LLC (CRD 109088): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)" ], "advisory_activity_labels": [ "Financial planning services", "Portfolio management for individuals and/or small businesses", "Portfolio management for businesses (other than small businesses) or institutional clients", "Selection of other advisers (including private fund managers)", "Other" ], "quick_answers": [ { "q": "How is Bitterroot Capital Advisors LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Bitterroot Capital Advisors LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)." }, { "q": "Where is Bitterroot Capital Advisors LLC located?", "a": "Bitterroot Capital Advisors LLC's principal office is in Bozeman, MT, according to its Form ADV." }, { "q": "Is Bitterroot Capital Advisors LLC registered with the SEC or a state?", "a": "Bitterroot Capital Advisors LLC is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 109088." }, { "q": "How much does Bitterroot Capital Advisors LLC manage?", "a": "Bitterroot Capital Advisors LLC reports $1,780,038,798 in regulatory assets under management in its Form ADV filing dated August 24, 2026 (14% discretionary)." }, { "q": "How have Bitterroot Capital Advisors LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Bitterroot Capital Advisors LLC: Regulatory assets under management: $1,060,496,778 in the October 2021 data and $1,780,038,798 in the October 2026 data, up 68%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Bitterroot Capital Advisors LLC serve?", "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (20)." }, { "q": "Does Bitterroot Capital Advisors LLC 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/109088" }, { "q": "What changed in Bitterroot Capital Advisors LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 8 to 7. Regulatory assets under management went from $1,453,507,231 to $1,780,038,798 (+22%)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1060496778.0, "total_employees": 7, "filing_date": "2021-03-26" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1206698986.0, "total_employees": 8, "filing_date": "2022-03-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1228715227.0, "total_employees": 8, "filing_date": "2023-03-10" }, { "period": "2024-10-01", "regulatory_assets_under_management": 1509082717.0, "total_employees": 8, "filing_date": "2024-03-05" }, { "period": "2025-10-01", "regulatory_assets_under_management": 1453507231.0, "total_employees": 8, "filing_date": "2025-03-28" }, { "period": "2026-10-01", "regulatory_assets_under_management": 1780038798.0, "total_employees": 7, "filing_date": "2026-08-24" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 8 to 7.", "Regulatory assets under management went from $1,453,507,231 to $1,780,038,798 (+22%)." ] }, { "period": "2025-11-01", "period_label": "November 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/bitterroot-capital-advisors-llc-bozeman-mt-109088.md", "clients": [ { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 20, "fewer_than_5": false, "raum": 1780038798.0 } ], "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/109088", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }