{
  "crd_number": 160000,
  "slug": "lone-star-funds-dallas-tx-160000",
  "primary_business_name": "LONE STAR FUNDS",
  "legal_name": "LONE STAR AMERICAS ACQUISITIONS, INC.",
  "dbas": [
    "LONE STAR"
  ],
  "city": "Dallas",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "19100",
  "metro": {
    "cbsa_code": "19100",
    "common_name": "Dallas",
    "msa_name": "Dallas-Fort Worth-Arlington, TX",
    "path": "/advisors/tx/dallas"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-03-09",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-08-31",
  "carried_forward": false,
  "raum_total": 35725668153.0,
  "raum_discretionary": 35725668153.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 36,
  "advisory_employees": 17,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 35725668153.0,
      "count": 31
    }
  },
  "compensation_types": [
    "other"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "NY",
    "TX"
  ],
  "websites": [
    "https://linkedin.com/company/lone-star-funds/about",
    "https://lonestarfunds.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/160000",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "DALLAS",
  "url": "https://advisorcensus.com/firm/lone-star-funds-dallas-tx-160000",
  "display_name": "Lone Star Funds",
  "summary": "Lone Star Funds is an SEC-registered investment advisory firm in Dallas, TX, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 31, 2026.",
  "citation": "AdvisorCensus. Lone Star Funds (CRD 160000): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Lone Star Funds compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Lone Star Funds reports these compensation arrangements: other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Lone Star Funds located?",
      "a": "Lone Star Funds' principal office is in Dallas, TX, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Lone Star Funds registered with the SEC or a state?",
      "a": "Lone Star Funds is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160000."
    },
    {
      "q": "How much does Lone Star Funds manage?",
      "a": "Lone Star Funds reports $35,725,668,153 in regulatory assets under management in its Form ADV filing dated August 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Lone Star Funds' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Lone Star Funds: Regulatory assets under management: $37,951,642,246 in the October 2021 data and $35,725,668,153 in the October 2026 data, down 6%. Total employees: 42 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Lone Star Funds serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (31)."
    },
    {
      "q": "Does Lone Star Funds report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). 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/160000"
    },
    {
      "q": "What changed in Lone Star Funds' recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 20 to 17."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 37951642246.0,
      "total_employees": 42,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 36117621114.0,
      "total_employees": 32,
      "filing_date": "2022-09-14"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 40708060655.0,
      "total_employees": 26,
      "filing_date": "2023-08-22"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 36159474957.0,
      "total_employees": 25,
      "filing_date": "2024-05-02"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 37407336598.0,
      "total_employees": 25,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 35725668153.0,
      "total_employees": 36,
      "filing_date": "2026-08-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 20 to 17."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Item 11 disclosure answers changed: 3 yes answers, previously 7 (now no: 11.A(1), 11.A(2), 11.D(1), 11.D(2))."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/lone-star-funds-dallas-tx-160000.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 31,
      "fewer_than_5": false,
      "raum": 35725668153.0
    }
  ],
  "disclosure_line": "Reports 3 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/160000",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}