# Impact Shares

> Impact Shares is an SEC-registered investment advisory firm in Dallas, TX, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 22, 2024.

- CRD: 282472
- Filed as: IMPACT SHARES
- Legal name: Impact Shares Corp
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: March 22, 2024
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282472
- AdvisorCensus page: https://advisorcensus.com/firm/impact-shares-dallas-tx-282472

## Quick answers

**How is Impact Shares compensated?**
On its Form ADV (Item 5.E, October 2026), Impact Shares reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Impact Shares located?**
Impact Shares' principal office is in Dallas, TX, according to its Form ADV.

**Is Impact Shares registered with the SEC or a state?**
Impact Shares is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 282472.

**How much does Impact Shares manage?**
Impact Shares reports $210,416,293 in regulatory assets under management in its Form ADV filing dated March 22, 2024 (100% discretionary).

**How have Impact Shares' assets and staff changed since 2021?**
In the Form ADV data for Impact Shares: Regulatory assets under management: $39,000,000 in the October 2021 data and $210,416,293 in the October 2026 data, up 440%. Total employees: 3 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Impact Shares serve?**
By number of clients on Form ADV Item 5.D: investment companies (3).

**Does Impact Shares 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/282472

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $210,416,293
- Discretionary: $210,416,293
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 3 | $210,416,293 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2018 (8 years)
- Employees: 3 total, 1 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)
- impactetfs.org
- impactshares.org
- LinkedIn @IMPACT-SHARES

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $39,000,000 | 3 | February 8, 2021 |
| October 2022 | $185,899,118 | 3 | June 21, 2022 |
| October 2023 | $174,683,409 | 3 | March 13, 2023 |
| October 2024 | $210,416,293 | 3 | March 22, 2024 |
| October 2025 | $210,416,293 | 3 | March 22, 2024 |
| October 2026 | $210,416,293 | 3 | March 22, 2024 |

Regulatory assets under management: $39,000,000 in the October 2021 data and $210,416,293 in the October 2026 data, up 440%.
Total employees: 3 in October 2021 and 3 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Impact Shares (CRD 282472): Form ADV filing data as of October 2026.