# Castellan

> Castellan is an SEC-registered investment advisory firm in Louisville, KY, registered since 2020, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 299363
- Filed as: CASTELLAN
- Legal name: Castellan Group, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Louisville, KY
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/299363
- AdvisorCensus page: https://advisorcensus.com/firm/castellan-louisville-ky-299363

## Quick answers

**How is Castellan compensated?**
On its Form ADV (Item 5.E, October 2026), Castellan reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees.

**Where is Castellan located?**
Castellan's principal office is in Louisville, KY, according to its Form ADV.

**Is Castellan registered with the SEC or a state?**
Castellan is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 299363.

**How much does Castellan manage?**
Castellan reports $882,230,876 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have Castellan's assets and staff changed since 2021?**
In the Form ADV data for Castellan: Regulatory assets under management: $150,196,859 in the October 2021 data and $882,230,876 in the October 2026 data, up 487%. Total employees: 4 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Castellan serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (12); pooled investment vehicles (other than investment companies and business development companies) (9); investment companies (2).

**Which custodians does Castellan use?**
Castellan's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Castellan 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/299363

**Does Castellan state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "While CASTELLAN does not impose a minimum account size, all separately managed clients must meet the definition of “qualified investor” (please refer to Item 5)."

**What changed in Castellan's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $496,086,621 to $882,230,876 (+78%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Account minimum: None

> While CASTELLAN does not impose a minimum account size, all separately managed clients must meet the definition of “qualified investor” (please refer to Item 5).

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $882,230,876
- Discretionary: $881,142,578
- Non-discretionary: $1,088,298

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 12 | $650,883,464 |
| Banking or thrift institutions | Not reported | $0 |
| Investment companies | 2 | $35,697,466 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $59,895,490 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Not reported | $0 |
| Charitable organizations | Fewer than 5 | $128,614,035 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | Fewer than 5 | $7,140,421 |
| Other | Not reported | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2020 (5 years)
- Employees: 8 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, FL, GA, IN, KY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- castellanetf.com
- castellangroup.com
- castellanria.com
- LinkedIn @19147779

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $150,196,859 | 4 | September 9, 2021 |
| October 2022 | $235,317,522 | 5 | March 31, 2022 |
| October 2023 | $330,904,447 | 9 | March 31, 2023 |
| October 2024 | $353,473,345 | 9 | March 29, 2024 |
| October 2025 | $496,086,621 | 7 | June 17, 2025 |
| October 2026 | $882,230,876 | 8 | March 25, 2026 |

Regulatory assets under management: $150,196,859 in the October 2021 data and $882,230,876 in the October 2026 data, up 487%.
Total employees: 4 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $496,086,621 to $882,230,876 (+78%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Castellan (CRD 299363): Form ADV filing data as of October 2026.