{
  "crd_number": 145329,
  "slug": "capital-innovations-llc-waukesha-wi-145329",
  "primary_business_name": "CAPITAL INNOVATIONS, LLC",
  "legal_name": "CAPITAL INNOVATIONS, LLC",
  "dbas": [],
  "city": "Waukesha",
  "state": "WI",
  "country": "United States",
  "cbsa_code": "33340",
  "metro": {
    "cbsa_code": "33340",
    "common_name": "Milwaukee",
    "msa_name": "Milwaukee-Waukesha, WI",
    "path": "/advisors/wi/milwaukee"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2011-04-25",
  "years_registered": 15,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 806657637.0,
  "raum_discretionary": 405640164.0,
  "raum_non_discretionary": 401017473.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 4,
  "advisory_employees": 4,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "investment_companies": {
      "raum": 798545913.0,
      "count": 1
    },
    "other_investment_advisers": {
      "raum": 6757319.0,
      "count": 5
    },
    "high_net_worth_individuals": {
      "raum": 1354405.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "WI"
  ],
  "websites": [
    "https://capinnovations.com",
    "https://capinnovations.org"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/145329",
  "city_as_filed": "WAUKESHA",
  "url": "https://advisorcensus.com/firm/capital-innovations-llc-waukesha-wi-145329",
  "display_name": "Capital Innovations, LLC",
  "summary": "Capital Innovations, LLC is an SEC-registered investment advisory firm in Waukesha, WI, registered since 2011, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Capital Innovations, LLC (CRD 145329): 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": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Capital Innovations, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Capital Innovations, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Capital Innovations, LLC located?",
      "a": "Capital Innovations, LLC's principal office is in Waukesha, WI, according to its Form ADV."
    },
    {
      "q": "Is Capital Innovations, LLC registered with the SEC or a state?",
      "a": "Capital Innovations, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 145329."
    },
    {
      "q": "How much does Capital Innovations, LLC manage?",
      "a": "Capital Innovations, LLC reports $806,657,637 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (50% discretionary)."
    },
    {
      "q": "How have Capital Innovations, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Capital Innovations, LLC: Regulatory assets under management: $173,323,777 in the October 2021 data and $806,657,637 in the October 2026 data, up 365%. Total employees: 7 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Capital Innovations, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: other investment advisers (5); investment companies (1)."
    },
    {
      "q": "Does Capital Innovations, 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/145329"
    },
    {
      "q": "What changed in Capital Innovations, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $372,948,460 to $806,657,637 (+116%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 173323777.0,
      "total_employees": 7,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 200621368.0,
      "total_employees": 7,
      "filing_date": "2022-04-05"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 207603754.0,
      "total_employees": 7,
      "filing_date": "2023-03-30"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 204289880.0,
      "total_employees": 4,
      "filing_date": "2024-08-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 372948460.0,
      "total_employees": 4,
      "filing_date": "2025-03-24"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 806657637.0,
      "total_employees": 4,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $372,948,460 to $806,657,637 (+116%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/capital-innovations-llc-waukesha-wi-145329.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": null,
      "fewer_than_5": true,
      "raum": 1354405.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 798545913.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 5,
      "fewer_than_5": false,
      "raum": 6757319.0
    }
  ],
  "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/145329",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}