# Disciplined Growth Investors Inc

> Disciplined Growth Investors Inc is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 1996, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 106746
- Filed as: DISCIPLINED GROWTH INVESTORS INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minneapolis, MN
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106746
- AdvisorCensus page: https://advisorcensus.com/firm/disciplined-growth-investors-inc-minneapolis-mn-106746

## Quick answers

**How is Disciplined Growth Investors Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Disciplined Growth Investors Inc reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Disciplined Growth Investors Inc located?**
Disciplined Growth Investors Inc's principal office is in Minneapolis, MN, according to its Form ADV.

**Is Disciplined Growth Investors Inc registered with the SEC or a state?**
Disciplined Growth Investors Inc is an SEC-registered investment advisory firm, registered since 1996. Status as filed: Approved. CRD 106746.

**How much does Disciplined Growth Investors Inc manage?**
Disciplined Growth Investors Inc reports $5,482,190,948 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Disciplined Growth Investors Inc's assets and staff changed since 2021?**
In the Form ADV data for Disciplined Growth Investors Inc: Regulatory assets under management: $5,552,313,830 in the October 2021 data and $5,482,190,948 in the October 2026 data, down 1%. Total employees: 20 in October 2021 and 21 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Disciplined Growth Investors Inc serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (102); charitable organizations (11); pooled investment vehicles (other than investment companies and business development companies) (9).

**Which custodians does Disciplined Growth Investors Inc use?**
Disciplined Growth Investors Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Co, National Financial Services LLC, Northern Trust Company and US Bank as custodians holding 10% or more of its separately managed account assets.

**Does Disciplined Growth Investors Inc 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/106746

**What changed in Disciplined Growth Investors Inc's recent Form ADV filings?**
In the January 2026 filing data: No longer registered or notice-filed in IN, NV, TN.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York Co
- National Financial Services LLC
- Northern Trust Company
- US Bank

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: $5,482,190,948
- Discretionary: $5,482,190,948
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 102 | $1,404,516,646 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $570,578,201 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $1,450,055,975 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 8 | $362,610,304 |
| Charitable organizations | 11 | $1,140,105,012 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $256,556,684 |
| Other investment advisers | Fewer than 5 | $185,517,233 |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 6 | $112,250,893 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- 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)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1996 (29 years)
- Employees: 21 total, 10 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, CT, FL, GA, IA, IL, LA, MA, MI, MN, ND, NY, OH, OK, OR, TX, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- dginv.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,552,313,830 | 20 | March 31, 2021 |
| October 2022 | $5,382,818,713 | 20 | March 31, 2022 |
| October 2023 | $4,109,246,565 | 20 | April 5, 2023 |
| October 2024 | $4,789,287,731 | 21 | March 29, 2024 |
| October 2025 | $5,752,282,085 | 22 | March 31, 2025 |
| October 2026 | $5,482,190,948 | 21 | March 27, 2026 |

Regulatory assets under management: $5,552,313,830 in the October 2021 data and $5,482,190,948 in the October 2026 data, down 1%.
Total employees: 20 in October 2021 and 21 in October 2026.

## Changes in the filing (last 12 months)

### January 2026
- No longer registered or notice-filed in IN, NV, TN.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Disciplined Growth Investors Inc (CRD 106746): Form ADV filing data as of October 2026.