# Elmtree Funds, LLC

> Elmtree Funds, LLC is an SEC-registered investment advisory firm in St. Louis, MO, registered since 2025, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 338940
- Filed as: ELMTREE FUNDS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: St. Louis, MO
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/338940
- AdvisorCensus page: https://advisorcensus.com/firm/elmtree-funds-llc-st-louis-mo-338940

## Quick answers

**How is Elmtree Funds, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Elmtree Funds, 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.

**Where is Elmtree Funds, LLC located?**
Elmtree Funds, LLC's principal office is in St. Louis, MO, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Elmtree Funds, LLC registered with the SEC or a state?**
Elmtree Funds, LLC is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 338940.

**How much does Elmtree Funds, LLC manage?**
Elmtree Funds, LLC reports $7,773,898,501 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**What types of clients does Elmtree Funds, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (16).

**Does Elmtree Funds, LLC report any disciplinary disclosures?**
Reports 9 disclosure items on Form ADV Item 11: yes answers to 7 questions about regulatory matters and 2 questions about civil court matters (11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.E(2), 11.G, 11.H(1)(c), 11.H(2)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/338940

**What changed in Elmtree Funds, LLC's recent Form ADV filings?**
In the April 2026 filing data: Changed its office addresses in Chicago, IL. Changed its office addresses in Phoenix, AZ.

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $7,773,898,501
- Discretionary: $7,773,898,501
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 16 | $7,773,898,501 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2025 (1 year)
- Employees: 37 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, MO
- Disclosures (Item 11): Reports 9 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
- 11.G: Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?
- 11.H(1)(c): Has a domestic or foreign court ever dismissed, under a settlement agreement, an investment-related civil action brought against the firm or an advisory affiliate by a state or foreign financial regulator?
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/338940

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Chicago, IL
- New York, NY
- Phoenix, AZ

### Websites listed on Form ADV (Item 1.I)
- elmtreefunds.com
- LinkedIn @elmtree-funds

## Changes in the filing (last 12 months)

### April 2026
- Changed its office addresses in Chicago, IL.
- Changed its office addresses in Phoenix, AZ.

### January 2026
- Newly registered with the SEC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Elmtree Funds, LLC (CRD 338940): Form ADV filing data as of October 2026.