{
  "crd_number": 169840,
  "slug": "greenhouse-funds-lllp-baltimore-md-169840",
  "primary_business_name": "GREENHOUSE FUNDS LLLP",
  "legal_name": "GREENHOUSE FUNDS LLLP",
  "dbas": [],
  "city": "Baltimore",
  "state": "MD",
  "country": "United States",
  "cbsa_code": "12580",
  "metro": {
    "cbsa_code": "12580",
    "common_name": "Baltimore",
    "msa_name": "Baltimore-Columbia-Towson, MD",
    "path": "/advisors/md/baltimore"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2015-01-21",
  "years_registered": 11,
  "period": "2026-10-01",
  "filing_date": "2026-09-11",
  "carried_forward": false,
  "raum_total": 2927223000.0,
  "raum_discretionary": 2927223000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 9,
  "advisory_employees": 5,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "state_municipal": {
      "raum": 200277000.0,
      "count": null,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 128060000.0,
      "count": 2
    },
    "pooled_investment_vehicles": {
      "raum": 2598886000.0,
      "count": 9
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL",
    "MD",
    "NY"
  ],
  "websites": [
    "https://greenhousefunds.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/169840",
  "city_as_filed": "BALTIMORE",
  "url": "https://advisorcensus.com/firm/greenhouse-funds-lllp-baltimore-md-169840",
  "display_name": "Greenhouse Funds LLLP",
  "summary": "Greenhouse Funds LLLP is an SEC-registered investment advisory firm in Baltimore, MD, registered since 2015, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 11, 2026.",
  "citation": "AdvisorCensus. Greenhouse Funds LLLP (CRD 169840): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "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"
  ],
  "quick_answers": [
    {
      "q": "How is Greenhouse Funds LLLP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Greenhouse Funds LLLP reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Greenhouse Funds LLLP charge?",
      "a": "Its Form ADV Part 2A brochure dated March 25, 2026 states: Asset-based fee: 0.5% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Greenhouse Funds LLLP located?",
      "a": "Greenhouse Funds LLLP's principal office is in Baltimore, MD, according to its Form ADV."
    },
    {
      "q": "Is Greenhouse Funds LLLP registered with the SEC or a state?",
      "a": "Greenhouse Funds LLLP is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 169840."
    },
    {
      "q": "How much does Greenhouse Funds LLLP manage?",
      "a": "Greenhouse Funds LLLP reports $2,927,223,000 in regulatory assets under management in its Form ADV filing dated September 11, 2026 (100% discretionary)."
    },
    {
      "q": "How have Greenhouse Funds LLLP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Greenhouse Funds LLLP: Regulatory assets under management: $1,119,900,000 in the October 2021 data and $2,927,223,000 in the October 2026 data, up 161%. Total employees: 7 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Greenhouse Funds LLLP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9); investment companies (2)."
    },
    {
      "q": "Which custodians does Greenhouse Funds LLLP use?",
      "a": "Greenhouse Funds LLLP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JPMorgan Chase & Co as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Greenhouse Funds LLLP 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/169840"
    },
    {
      "q": "What changed in Greenhouse Funds LLLP's recent Form ADV filings?",
      "a": "In the June 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1119900000.0,
      "total_employees": 7,
      "filing_date": "2021-03-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1253900000.0,
      "total_employees": 8,
      "filing_date": "2022-05-06"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1541200000.0,
      "total_employees": 9,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1939736000.0,
      "total_employees": 9,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2719130000.0,
      "total_employees": 10,
      "filing_date": "2025-03-25"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 2927223000.0,
      "total_employees": 9,
      "filing_date": "2026-09-11"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "No longer lists an office in Delray Beach, FL.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 25, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.5% to 1.5% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.5% to 1.5% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "The annual fee for the Funds , LO Funds  and SMAs  ranges from 0.50% to 1.50%  and is paid either monthly or quarterly."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        0.5,
        1.5
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The annual fee for the Funds , LO Funds  and SMAs  ranges from 0.50% to 1.50%  and is paid either monthly or quarterly."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "JPMorgan Chase & Co",
      "name_as_filed": "JPMORGAN CHASE & CO",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/greenhouse-funds-lllp-baltimore-md-169840.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 128060000.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 9,
      "fewer_than_5": false,
      "raum": 2598886000.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": true,
      "raum": 200277000.0
    }
  ],
  "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/169840",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}