# Blacksand Capital, LLC

> Blacksand Capital, LLC is an SEC-registered investment advisory firm in Honolulu, HI, registered since 2018, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 291612
- Filed as: BLACKSAND CAPITAL, LLC
- Also doing business as: BLACKSAND CAPITAL MANAGEMENT I, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Honolulu, HI
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/291612
- AdvisorCensus page: https://advisorcensus.com/firm/blacksand-capital-llc-honolulu-hi-291612

## Quick answers

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

**Where is Blacksand Capital, LLC located?**
Blacksand Capital, LLC's principal office is in Honolulu, HI, according to its Form ADV.

**Is Blacksand Capital, LLC registered with the SEC or a state?**
Blacksand Capital, LLC is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 291612.

**How much does Blacksand Capital, LLC manage?**
Blacksand Capital, LLC reports $506,301,347 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Blacksand Capital, LLC's assets and staff changed since 2021?**
In the Form ADV data for Blacksand Capital, LLC: Regulatory assets under management: $350,615,023 in the October 2021 data and $506,301,347 in the October 2026 data, up 44%. 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.

**What types of clients does Blacksand Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13).

**Does Blacksand Capital, 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/291612

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $506,301,347
- Discretionary: $506,301,347
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 13 | $506,301,347 |

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

### Firm details
- Registered since: 2018 (8 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: HI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- blacksandcapital.com
- LinkedIn @BLACKSAND-CAPITAL-LLC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $350,615,023 | 7 | March 31, 2021 |
| October 2022 | $564,212,334 | 6 | March 31, 2022 |
| October 2023 | $499,614,568 | 7 | May 19, 2023 |
| October 2024 | $474,526,720 | 8 | March 29, 2024 |
| October 2025 | $487,258,075 | 7 | March 31, 2025 |
| October 2026 | $506,301,347 | 7 | March 31, 2026 |

Regulatory assets under management: $350,615,023 in the October 2021 data and $506,301,347 in the October 2026 data, up 44%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Blacksand Capital, LLC (CRD 291612): Form ADV filing data as of October 2026.