AdvisorCensus / Financial advisors / New York / New York / Elkwater Capital
Elkwater Capital
Filed as ELKWATER CAPITAL · Legal name Elkwater Capital Management, LLC
Elkwater Capital is an SEC-registered investment advisory firm in New York, NY, registered since 2025, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 20, 2026.
Quick answers
From the filingHow is Elkwater Capital compensated?
On its Form ADV (Item 5.E, October 2026), Elkwater Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
What does Elkwater Capital's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 20, 2026 states: Up to $10,000,000: 1.2% a year; $10,000,001 to $25,000,000: 1% a year; Above $25,000,001: 0.8% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Elkwater Capital located?
Elkwater Capital's principal office is in New York, NY, according to its Form ADV.
Is Elkwater Capital registered with the SEC or a state?
Elkwater Capital is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 333963.
How much does Elkwater Capital manage?
Elkwater Capital reports $44,802,000 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary).
How have Elkwater Capital's assets and staff changed since 2025?
In the Form ADV data for Elkwater Capital: Regulatory assets under management: $32,896,000 in the October 2025 data and $44,802,000 in the October 2026 data, up 36%. Total employees: 2 in October 2025 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Elkwater Capital serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).
Which custodians does Elkwater Capital use?
Elkwater Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Interactive Brokers LLC as a custodian holding 10% or more of its separately managed account assets.
Does Elkwater Capital 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/333963
Does Elkwater Capital state an account minimum?
Its Form ADV Part 2A brochure dated March 20, 2026 says: "The Advisor’s cumulative minimum account requirement for opening and maintaining an account is $1,000,000. However, based on facts and circumstances the Advisor may, at its sole discretion, accept accounts with a lower value."
What changed in Elkwater Capital's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $32,896,000 to $44,802,000 (+36%).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- 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
Fees and minimums
Form ADV Part 2A| Assets | Annual rate |
|---|---|
| Up to $10,000,000 | 1.2% |
| $10,000,001 to $25,000,000 | 1% |
| Above $25,000,001 | 0.8% |
The brochure's wording
Assets Under Management: Annual Fee: Up to $10 million 1.20 % $10,000,001 to $25 million 1.00 % Over $25 million 0.80%
These fees may be negotiated at the sole discretion of the Advisor.
Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
The Advisor’s cumulative minimum account requirement for opening and maintaining an account is $1,000,000. However, based on facts and circumstances the Advisor may, at its sole discretion, accept accounts with a lower value.
As stated in the firm's Form ADV Part 2A brochure dated March 20, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$44,802,000 as of October 2026, filing dated March 20, 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
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
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
Registration and firm details
Items 1, 2, 5- Legal name
- Elkwater Capital Management, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2025 (1 year)
- Employees
- Total: 3. Performing investment advisory functions: 1.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None 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
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $44,802,000 | 3 | March 20, 2026 |
| October 2025 | $32,896,000 | 2 | June 16, 2025 |
Regulatory assets under management: $32,896,000 in the October 2025 data and $44,802,000 in the October 2026 data, up 36%.
Total employees: 2 in October 2025 and 3 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.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $32,896,000 to $44,802,000 (+36%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Elkwater Capital (CRD 333963): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/elkwater-capital-new-york-ny-333963