# Eldred Rock Partners, LLC

> Eldred Rock Partners, LLC is an SEC-registered investment advisory firm in San Antonio, TX, registered since 2023, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated May 26, 2026.

- CRD: 316401
- Filed as: ELDRED ROCK PARTNERS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Antonio, TX
- Filing period: October 2026
- Form ADV filing dated: May 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/316401
- AdvisorCensus page: https://advisorcensus.com/firm/eldred-rock-partners-llc-san-antonio-tx-316401

## Quick answers

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

**Where is Eldred Rock Partners, LLC located?**
Eldred Rock Partners, LLC's principal office is in San Antonio, TX, according to its Form ADV.

**Is Eldred Rock Partners, LLC registered with the SEC or a state?**
Eldred Rock Partners, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 316401.

**How much does Eldred Rock Partners, LLC manage?**
Eldred Rock Partners, LLC reports $644,081,451 in regulatory assets under management in its Form ADV filing dated May 26, 2026 (100% discretionary).

**How have Eldred Rock Partners, LLC's assets and staff changed since 2021?**
In the Form ADV data for Eldred Rock Partners, LLC: Regulatory assets under management: $0 in the October 2021 data and $644,081,451 in the October 2026 data. Total employees: 3 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Eldred Rock Partners, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (51); individuals (other than high net worth individuals) (12); other investment advisers (8).

**Which custodians does Eldred Rock Partners, LLC use?**
Eldred Rock Partners, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Northern Trust Securities, Inc. and State Street Global Markets, LLC as custodians holding 10% or more of its separately managed account assets.

**Does Eldred Rock Partners, 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/316401

**Does Eldred Rock Partners, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 26, 2026 says: "For separately managed accounts, Eldred Rock has a preferred minimum account size of $250,000 which, at the Firm’s discretion, may be reached by aggregating accounts. There may be occasions when Eldred Rock accepts smaller accounts, which is determined on a case-by-case basis."

**What changed in Eldred Rock Partners, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 5 to 6. Regulatory assets under management went from $487,616,730 to $644,081,451 (+32%). 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
- Performance-based fees

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

- Account minimum: $250,000 (the brochure says it may be waived or negotiated)

> For separately managed accounts, Eldred Rock has a preferred minimum account size of $250,000 which, at the Firm’s discretion, may be reached by aggregating accounts. There may be occasions when Eldred Rock accepts smaller accounts, which is determined on a case-by-case basis.

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.
- Northern Trust Securities, Inc.
- State Street Global Markets, LLC

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: $644,081,451
- Discretionary: $644,081,451
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 12 | $2,590,577 |
| High net worth individuals | 51 | $245,287,830 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $4,748,239 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $174,288,576 |
| Charitable organizations | 3 | $24,210,666 |
| State or municipal government entities (including government pension plans) | 1 | $96,123,279 |
| Other investment advisers | 8 | $79,575,960 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 3 | $17,256,324 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- 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: 2023 (3 years)
- Employees: 10 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: LA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- eldredrock.com
- LinkedIn @eldred-rock-partners-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $0 | 3 | September 27, 2021 |
| October 2023 | $206,773,148 | 5 | August 22, 2023 |
| October 2024 | $337,918,741 | 6 | March 25, 2024 |
| October 2025 | $487,616,730 | 9 | March 24, 2025 |
| October 2026 | $644,081,451 | 10 | May 26, 2026 |

Regulatory assets under management: $0 in the October 2021 data and $644,081,451 in the October 2026 data.
Total employees: 3 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 5 to 6.
- Regulatory assets under management went from $487,616,730 to $644,081,451 (+32%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Eldred Rock Partners, LLC (CRD 316401): Form ADV filing data as of October 2026.