{ "crd_number": 171659, "slug": "forest-capital-management-llc-chicago-il-171659", "primary_business_name": "FOREST CAPITAL MANAGEMENT, LLC", "legal_name": "FOREST CAPITAL MANAGEMENT, LLC", "dbas": [], "city": "Chicago", "state": "IL", "country": "United States", "cbsa_code": "16980", "metro": { "cbsa_code": "16980", "common_name": "Chicago", "msa_name": "Chicago-Naperville-Elgin, IL-IN", "path": "/advisors/il/chicago" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2014-05-27", "years_registered": 12, "period": "2026-10-01", "filing_date": "2026-03-27", "carried_forward": false, "raum_total": 3750210207.0, "raum_discretionary": 1487159273.0, "raum_non_discretionary": 2263050934.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 11, "advisory_employees": 8, "client_count_bucket": null, "clients_by_type": { "state_municipal": { "raum": 59237329.0, "count": 1 }, "pension_profit_sharing": { "raum": 3690972878.0, "count": 117 } }, "compensation_types": [ "fixed", "percentage_of_aum" ], "advisory_activities": [ "educational_seminars", "pension_consulting", "portfolio_management_businesses_institutional" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "AZ", "FL", "IL", "LA", "PA" ], "websites": [ "https://forestcapitalmanagement.com", "https://linkedin.com/COMPANY/FOREST-CAPITAL-MANAGEMENT", "https://x.com/FORESTCAPM" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/171659", "city_as_filed": "CHICAGO", "url": "https://advisorcensus.com/firm/forest-capital-management-llc-chicago-il-171659", "display_name": "Forest Capital Management, LLC", "summary": "Forest Capital Management, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.", "citation": "AdvisorCensus. Forest Capital Management, LLC (CRD 171659): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)" ], "advisory_activity_labels": [ "Portfolio management for businesses (other than small businesses) or institutional clients", "Pension consulting services", "Educational seminars/workshops" ], "quick_answers": [ { "q": "How is Forest Capital Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Forest Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Forest Capital Management, LLC located?", "a": "Forest Capital Management, LLC's principal office is in Chicago, IL, according to its Form ADV." }, { "q": "Is Forest Capital Management, LLC registered with the SEC or a state?", "a": "Forest Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 171659." }, { "q": "How much does Forest Capital Management, LLC manage?", "a": "Forest Capital Management, LLC reports $3,750,210,207 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (40% discretionary)." }, { "q": "How have Forest Capital Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Forest Capital Management, LLC: Regulatory assets under management: $965,274,471 in the October 2021 data and $3,750,210,207 in the October 2026 data, up 289%. Total employees: 9 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Forest Capital Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (117); state or municipal government entities (including government pension plans) (1)." }, { "q": "Does Forest Capital Management, 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 SEC record: https://adviserinfo.sec.gov/firm/summary/171659" }, { "q": "What changed in Forest Capital Management, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: No longer lists an office in Chicago, IL." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 965274471.0, "total_employees": 9, "filing_date": "2021-03-10" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1631727938.0, "total_employees": 10, "filing_date": "2022-06-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1567052162.0, "total_employees": 10, "filing_date": "2023-09-19" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2030144168.0, "total_employees": 10, "filing_date": "2024-05-24" }, { "period": "2025-10-01", "regulatory_assets_under_management": 2922112475.0, "total_employees": 10, "filing_date": "2025-02-07" }, { "period": "2026-10-01", "regulatory_assets_under_management": 3750210207.0, "total_employees": 11, "filing_date": "2026-03-27" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "No longer lists an office in Chicago, IL." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Employees performing advisory functions went from 6 to 8.", "Regulatory assets under management went from $2,922,112,475 to $3,750,210,207 (+28%).", "Registered or notice-filed in LA." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "No longer registered or notice-filed in NJ." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/forest-capital-management-llc-chicago-il-171659.md", "clients": [ { "type": "pension_profit_sharing", "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)", "count": 117, "fewer_than_5": false, "raum": 3690972878.0 }, { "type": "state_municipal", "label": "State or municipal government entities (including government pension plans)", "count": 1, "fewer_than_5": false, "raum": 59237329.0 } ], "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/171659", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }