Dipsea Capital, LLC

• A percentage of assets under your management
• Performance-based fees

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

$61,302,116 as of October 2026, filing dated July 28, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Portfolio management for individuals and/or small businesses
• Portfolio management for pooled investment vehicles (other than investment companies)

Registration

State-registered investment adviser. Status as filed: APPROVED.

Registered since

2026 (0 years)

Employees

Total: 4. Performing investment advisory functions: 1.

Wrap fee program participation

No.

States registered or notice-filed

1 state or jurisdiction

CA

State-registered investment advisers are examined by their state securities regulator. SEC, state, and exempt registration

None Reports no disclosure items on Form ADV Item 11. View on IAPD.

Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $101,468,592 in the October 2023 data and $61,302,116 in the October 2026 data, down 40%.

Total employees: 5 in October 2023 and 4 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. September 2026
   • Moved from SEC registration to state registration.
2. August 2026
   • Employees performing advisory functions went from 2 to 1.
   • Updated its list of owners and control persons (Schedule A).
3. April 2026
   • Employees performing advisory functions went from 3 to 2.
   • Regulatory assets under management went from $103,005,793 to $58,320,760 (-43%).

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.