# Callidus Capital

> Callidus Capital is a state-registered investment advisory firm, registered since 2025, reporting under $25 million in regulatory assets under management in its Form ADV filing dated July 10, 2026.

- CRD: 337538
- Filed as: CALLIDUS CAPITAL
- Legal name: Callidus Capital, LLC.
- Registration: State-registered investment adviser (status as filed: APPROVED)
- Filing period: October 2026
- Form ADV filing dated: July 10, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/337538
- AdvisorCensus page: https://advisorcensus.com/firm/callidus-capital-337538

## Quick answers

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

**Is Callidus Capital registered with the SEC or a state?**
Callidus Capital is a state-registered investment advisory firm, registered since 2025. Status as filed: APPROVED. CRD 337538.

**How much does Callidus Capital manage?**
Callidus Capital reports $2 in regulatory assets under management in its Form ADV filing dated July 10, 2026 (100% discretionary).

**Does Callidus Capital report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/337538

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $2
- Discretionary: $2
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | $2 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Other

### Firm details
- Registered since: 2025 (1 year)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA, NH
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [calliduscapital.co](https://calliduscapital.co)
- [substack.com/@noahtillinghast](https://substack.com/@noahtillinghast)
- Facebook facebook.com
- LinkedIn @noah-tillinghast-5118a9334
- X @ntillinghast123
- YouTube @calliduscapital

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Callidus Capital (CRD 337538): Form ADV filing data as of October 2026.