{
  "crd_number": 257787,
  "slug": "dipsea-capital-llc-mill-valley-ca-257787",
  "primary_business_name": "DIPSEA CAPITAL, LLC",
  "legal_name": "DIPSEA CAPITAL, LLC",
  "dbas": [],
  "city": "Mill Valley",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "state",
  "registration_status": "APPROVED",
  "registration_date": "2026-07-28",
  "years_registered": 0,
  "period": "2026-10-01",
  "filing_date": "2026-07-28",
  "carried_forward": false,
  "raum_total": 61302116.0,
  "raum_discretionary": 61302116.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "25m_100m",
  "raum_band_label": "$25 million to $100 million",
  "total_employees": 4,
  "advisory_employees": 1,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 835019.0,
      "count": null,
      "description": "PROPRIETARY ACCOUNT",
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 60467097.0,
      "count": 3
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA"
  ],
  "websites": [
    "https://dipseacapital.com",
    "https://linkedin.com/company/2001186/admin/dashboard",
    "https://x.com/dipseacapital/status/1841142554558955931?mx=2"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/257787",
  "city_as_filed": "MILL VALLEY",
  "url": "https://advisorcensus.com/firm/dipsea-capital-llc-mill-valley-ca-257787",
  "display_name": "Dipsea Capital, LLC",
  "summary": "Dipsea Capital, LLC is a state-registered investment advisory firm in Mill Valley, CA, registered since 2026, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated July 28, 2026.",
  "citation": "AdvisorCensus. Dipsea Capital, LLC (CRD 257787): Form ADV filing data as of October 2026.",
  "registration_type_label": "State-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Dipsea Capital, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Dipsea Capital, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Dipsea Capital, LLC located?",
      "a": "Dipsea Capital, LLC's principal office is in Mill Valley, CA, according to its Form ADV."
    },
    {
      "q": "Is Dipsea Capital, LLC registered with the SEC or a state?",
      "a": "Dipsea Capital, LLC is a state-registered investment advisory firm, registered since 2026. Status as filed: APPROVED. CRD 257787."
    },
    {
      "q": "How much does Dipsea Capital, LLC manage?",
      "a": "Dipsea Capital, LLC reports $61,302,116 in regulatory assets under management in its Form ADV filing dated July 28, 2026 (100% discretionary)."
    },
    {
      "q": "How have Dipsea Capital, LLC's assets and staff changed since 2023?",
      "a": "In the Form ADV data for Dipsea Capital, LLC: 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. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Dipsea Capital, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3)."
    },
    {
      "q": "Does Dipsea Capital, 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 public record on IAPD: https://adviserinfo.sec.gov/firm/summary/257787"
    },
    {
      "q": "What changed in Dipsea Capital, LLC's recent Form ADV filings?",
      "a": "In the September 2026 filing data: Moved from SEC registration to state registration."
    }
  ],
  "filing_history": [
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 101468592.0,
      "total_employees": 5,
      "filing_date": "2023-06-30"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 111640002.0,
      "total_employees": 6,
      "filing_date": "2024-03-08"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 103005793.0,
      "total_employees": 5,
      "filing_date": "2025-04-23"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 61302116.0,
      "total_employees": 4,
      "filing_date": "2026-07-28"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "Moved from SEC registration to state registration."
      ]
    },
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Employees performing advisory functions went from 2 to 1.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 3 to 2.",
        "Regulatory assets under management went from $103,005,793 to $58,320,760 (-43%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/dipsea-capital-llc-mill-valley-ca-257787.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 60467097.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": null,
      "fewer_than_5": true,
      "raum": 835019.0
    }
  ],
  "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/257787",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}