# Hourglass Capital, LLC

> Hourglass Capital, LLC is an SEC-registered investment advisory firm in Houston, TX, registered since 2008, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 147754
- Filed as: HOURGLASS CAPITAL, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/147754
- AdvisorCensus page: https://advisorcensus.com/firm/hourglass-capital-llc-houston-tx-147754

## Quick answers

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

**How much does Hourglass Capital, LLC charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Up to $10,000,000: 1% a year; $10,000,000 to $50,000,000: 0.85% a year; Above $50,000,000: 0.7% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Hourglass Capital, LLC located?**
Hourglass Capital, LLC's principal office is in Houston, TX, according to its Form ADV.

**Is Hourglass Capital, LLC registered with the SEC or a state?**
Hourglass Capital, LLC is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 147754.

**How much does Hourglass Capital, LLC manage?**
Hourglass Capital, LLC reports $768,905,942 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary).

**How have Hourglass Capital, LLC's assets and staff changed since 2021?**
In the Form ADV data for Hourglass Capital, LLC: Regulatory assets under management: $446,177,000 in the October 2021 data and $768,905,942 in the October 2026 data, up 72%. Total employees: 6 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Hourglass Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (69); individuals (other than high net worth individuals) (28); pension and profit sharing plans (but not the plan participants or government pension plans) (5).

**Which custodians does Hourglass Capital, LLC use?**
Hourglass Capital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Hourglass Capital, 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/147754

**Does Hourglass Capital, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "Hourglass requires a minimum account size of $2,000,000 to establish a managed account. Hourglass can accept smaller accounts at our discretion, based on the client’s specific situation."

**What changed in Hourglass Capital, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 3 to 2. Regulatory assets under management went from $598,456,000 to $768,905,942 (+28%). 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 25, 2026)

- Up to $10,000,000: 1% a year
- $10,000,000 to $50,000,000: 0.85% a year
- Above $50,000,000: 0.7% a year

> As an example, this means that the first $10 million of the account or household may be charged at a rate of 1.00% per year, the next $40 million charged at a rate of .85% per year, and amounts over $50 million are charged at a rate of .70% per year.

- Account minimum: $2,000,000 (the brochure says it may be waived or negotiated)

> Hourglass requires a minimum account size of $2,000,000 to establish a managed account. Hourglass can accept smaller accounts at our discretion, based on the client’s specific situation.

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.

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: $768,905,942
- Discretionary: $768,905,942
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 28 | $10,981,162 |
| High net worth individuals | 69 | $697,369,320 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 5 | $26,640,161 |
| Charitable organizations | Fewer than 5 | $19,806,417 |
| Corporations or other businesses not listed above | Fewer than 5 | $14,108,882 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2008 (18 years)
- Employees: 6 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- hourglasscapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $446,177,000 | 6 | March 23, 2021 |
| October 2022 | $406,928,000 | 6 | March 22, 2022 |
| October 2023 | $467,634,000 | 6 | April 14, 2023 |
| October 2024 | $535,598,000 | 6 | June 6, 2024 |
| October 2025 | $598,456,000 | 6 | March 25, 2025 |
| October 2026 | $768,905,942 | 6 | October 1, 2026 |

Regulatory assets under management: $446,177,000 in the October 2021 data and $768,905,942 in the October 2026 data, up 72%.
Total employees: 6 in October 2021 and 6 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 3 to 2.
- Regulatory assets under management went from $598,456,000 to $768,905,942 (+28%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Hourglass Capital, LLC (CRD 147754): Form ADV filing data as of October 2026.