# Inflection Capital Management, LLC

> Inflection Capital Management, LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 10, 2026.

- CRD: 333157
- Filed as: INFLECTION CAPITAL MANAGEMENT, LLC
- Also doing business as: INFLECTION CM, THE OGLETHORPE COLLECTIVE, LLC ("TOC-23")
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: September 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/333157
- AdvisorCensus page: https://advisorcensus.com/firm/inflection-capital-management-llc-san-francisco-ca-333157

## Quick answers

**How is Inflection Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Inflection 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.

**Where is Inflection Capital Management, LLC located?**
Inflection Capital Management, LLC's principal office is in San Francisco, CA, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Inflection Capital Management, LLC registered with the SEC or a state?**
Inflection Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 333157.

**How much does Inflection Capital Management, LLC manage?**
Inflection Capital Management, LLC reports $365,605,247 in regulatory assets under management in its Form ADV filing dated September 10, 2026 (47% discretionary).

**How have Inflection Capital Management, LLC's assets and staff changed since 2025?**
In the Form ADV data for Inflection Capital Management, LLC: Regulatory assets under management: $188,452,825 in the October 2025 data and $365,605,247 in the October 2026 data, up 94%. Total employees: 9 in October 2025 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Inflection Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (17).

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

**Does Inflection Capital Management, 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/333157

**What changed in Inflection Capital Management, LLC's recent Form ADV filings?**
In the August 2026 filing data: Changed its office addresses in Hingham, MA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

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: $365,605,247
- Discretionary: $170,099,754
- Non-discretionary: $195,505,493

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 17 | $365,056,350 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| 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 | Fewer than 5 | $548,897 |
| 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 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2024 (1 year)
- Employees: 9 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, MA, NH, OR, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Hingham, MA
- Portsmouth, NH

### Websites listed on Form ADV (Item 1.I)
- inflectioncm.com
- toc-23.com
- LinkedIn @inflection-capital-management
- LinkedIn @toc-23
- LinkedIn @justinkunz1

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $188,452,825 | 9 | July 17, 2025 |
| October 2026 | $365,605,247 | 9 | September 10, 2026 |

Regulatory assets under management: $188,452,825 in the October 2025 data and $365,605,247 in the October 2026 data, up 94%.
Total employees: 9 in October 2025 and 9 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Changed its office addresses in Hingham, MA.

### May 2026
- Registered or notice-filed in OR.

### April 2026
- Regulatory assets under management went from $188,452,825 to $365,605,247 (+94%).
- Employees performing advisory functions went from 5 to 8.
- Changed its office addresses in Portsmouth, NH.

### November 2025
- Changed its office addresses in Hingham, MA.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Inflection Capital Management, LLC (CRD 333157): Form ADV filing data as of October 2026.