# Changing Parameters, LLC

> Changing Parameters, LLC is an SEC-registered investment advisory firm in Los Altos, CA, registered since 2004, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 13, 2026.

- CRD: 132551
- Filed as: CHANGING PARAMETERS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Los Altos, CA
- Filing period: October 2026
- Form ADV filing dated: March 13, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/132551
- AdvisorCensus page: https://advisorcensus.com/firm/changing-parameters-llc-los-altos-ca-132551

## Quick answers

**How is Changing Parameters, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Changing Parameters, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Changing Parameters, LLC located?**
Changing Parameters, LLC's principal office is in Los Altos, CA, according to its Form ADV.

**Is Changing Parameters, LLC registered with the SEC or a state?**
Changing Parameters, LLC is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 132551.

**How much does Changing Parameters, LLC manage?**
Changing Parameters, LLC reports $105,384,876 in regulatory assets under management in its Form ADV filing dated March 13, 2026 (100% discretionary).

**How have Changing Parameters, LLC's assets and staff changed since 2021?**
In the Form ADV data for Changing Parameters, LLC: Regulatory assets under management: $82,675,527 in the October 2021 data and $105,384,876 in the October 2026 data, up 27%. Total employees: 3 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Changing Parameters, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (67); high net worth individuals (42); corporations or other businesses not listed above (5).

**Which custodians does Changing Parameters, LLC use?**
Changing Parameters, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists U.S. Bank N.A. as a custodian holding 10% or more of its separately managed account assets.

**Does Changing Parameters, 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/132551

**Does Changing Parameters, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated January 26, 2026 says: "CP generally requires a minimum of $500,000 in assets under management for an SMA, although CP may waive this minimum at its discretion."

**What changed in Changing Parameters, LLC's recent Form ADV filings?**
In the February 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated January 26, 2026)

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> CP generally requires a minimum of $500,000 in assets under management for an SMA, although CP may waive this minimum at its discretion.

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

### Custodians (Schedule D, Section 5.K(3))
- U.S. Bank N.A.

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: $105,384,876
- Discretionary: $105,384,876
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 67 | $17,742,624 |
| High net worth individuals | 42 | $80,950,222 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $3,881,756 |
| Charitable organizations | Not reported | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 5 | $2,041,757 |
| Other | Fewer than 5 | $768,517 |

### 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)
- Selection of other advisers (including private fund managers)
- Other

### Firm details
- Registered since: 2004 (22 years)
- Employees: 4 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $82,675,527 | 3 | January 29, 2021 |
| October 2022 | $96,971,356 | 4 | July 7, 2022 |
| October 2023 | $92,194,442 | 3 | January 27, 2023 |
| October 2024 | $93,040,421 | 3 | January 24, 2024 |
| October 2025 | $102,336,811 | 3 | January 21, 2025 |
| October 2026 | $105,384,876 | 4 | March 13, 2026 |

Regulatory assets under management: $82,675,527 in the October 2021 data and $105,384,876 in the October 2026 data, up 27%.
Total employees: 3 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Changing Parameters, LLC (CRD 132551): Form ADV filing data as of October 2026.