{ "crd_number": 153099, "slug": "kabouter-management-llc-chicago-il-153099", "primary_business_name": "KABOUTER MANAGEMENT, LLC", "legal_name": "KABOUTER 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": "2010-07-02", "years_registered": 16, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 992507069.0, "raum_discretionary": 992507069.0, "raum_non_discretionary": 0.0, "raum_band": "500m_1b", "raum_band_label": "$500 million to $1 billion", "total_employees": 15, "advisory_employees": 7, "client_count_bucket": null, "clients_by_type": { "other_investment_advisers": { "raum": 609889789.0, "count": 1 }, "pooled_investment_vehicles": { "raum": 382617280.0, "count": 5 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_individuals", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 2, "states_registered": [ "CA", "IL" ], "websites": [ "https://kabouterfund.com", "https://kaboutermgmt.com", "https://linkedin.com/COMPANY/KABOUTER-MANAGEMENT-L-L-C-" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/153099", "disclosure_items": [ { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" } ], "city_as_filed": "CHICAGO", "url": "https://advisorcensus.com/firm/kabouter-management-llc-chicago-il-153099", "display_name": "Kabouter Management, LLC", "summary": "Kabouter Management, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2010, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Kabouter Management, LLC (CRD 153099): 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 individuals and/or small businesses", "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 Kabouter Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Kabouter Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "Where is Kabouter Management, LLC located?", "a": "Kabouter Management, LLC's principal office is in Chicago, IL, according to its Form ADV." }, { "q": "Is Kabouter Management, LLC registered with the SEC or a state?", "a": "Kabouter Management, LLC is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 153099." }, { "q": "How much does Kabouter Management, LLC manage?", "a": "Kabouter Management, LLC reports $992,507,069 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)." }, { "q": "How have Kabouter Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Kabouter Management, LLC: Regulatory assets under management: $5,353,043,525 in the October 2021 data and $992,507,069 in the October 2026 data, down 81%. Total employees: 35 in October 2021 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Kabouter Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); other investment advisers (1)." }, { "q": "Which custodians does Kabouter Management, LLC use?", "a": "Kabouter Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street Bank and Trust Company as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Kabouter Management, LLC report any disciplinary disclosures?", "a": "Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/153099" }, { "q": "What changed in Kabouter Management, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 8 to 7. Regulatory assets under management went from $398,897,138 to $992,507,069 (+149%). No longer lists an office in Tiburon, CA." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 5353043525.0, "total_employees": 35, "filing_date": "2021-03-29" }, { "period": "2022-10-01", "regulatory_assets_under_management": 5213982465.0, "total_employees": 32, "filing_date": "2022-04-22" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1911309183.0, "total_employees": 26, "filing_date": "2023-03-27" }, { "period": "2024-10-01", "regulatory_assets_under_management": 876673683.0, "total_employees": 23, "filing_date": "2024-03-25" }, { "period": "2025-10-01", "regulatory_assets_under_management": 398897138.0, "total_employees": 19, "filing_date": "2025-03-27" }, { "period": "2026-10-01", "regulatory_assets_under_management": 992507069.0, "total_employees": 15, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 8 to 7.", "Regulatory assets under management went from $398,897,138 to $992,507,069 (+149%).", "No longer lists an office in Tiburon, CA." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "State Street Bank and Trust Company", "name_as_filed": "STATE STREET BANK AND TRUST COMPANY", "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/kabouter-management-llc-chicago-il-153099.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 5, "fewer_than_5": false, "raum": 382617280.0 }, { "type": "other_investment_advisers", "label": "Other investment advisers", "count": 1, "fewer_than_5": false, "raum": 609889789.0 } ], "disclosure_line": "Reports 2 disclosure items on Form ADV Item 11.", "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/153099", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }