# Militia Capital Management, LLC

> Militia Capital Management, LLC is an SEC-registered investment advisory firm in Austin, TX, registered since 2025, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 10, 2026.

- CRD: 335763
- Filed as: MILITIA CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Austin, TX
- Filing period: October 2026
- Form ADV filing dated: September 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/335763
- AdvisorCensus page: https://advisorcensus.com/firm/militia-capital-management-llc-austin-tx-335763

## Quick answers

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

**What does Militia Capital Management, LLC's brochure say about its fees?**
Its Form ADV Part 2A brochure dated May 5, 2026 states: Asset-based fee: 0.5% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

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

**Is Militia Capital Management, LLC registered with the SEC or a state?**
Militia Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 335763.

**How much does Militia Capital Management, LLC manage?**
Militia Capital Management, LLC reports $958,643,639 in regulatory assets under management in its Form ADV filing dated September 10, 2026 (100% discretionary).

**How have Militia Capital Management, LLC's assets and staff changed since 2025?**
In the Form ADV data for Militia Capital Management, LLC: Regulatory assets under management: $370,225,258 in the October 2025 data and $958,643,639 in the October 2026 data, up 159%. Total employees: 1 in October 2025 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Militia Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1).

**Does Militia 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/335763

**Does Militia Capital Management, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated May 5, 2026 says: "The Fund generally requires a minimum initial investment of $50,000, although this minimum may be waived or reduced at the discretion of the Firm."

**What changed in Militia Capital Management, LLC's recent Form ADV filings?**
In the June 2026 filing data: Regulatory assets under management went from $1,476,393,754 to $958,643,639 (-35%).

## 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 May 5, 2026)

- Asset-based fee: 0.5% of assets a year

> The Firm receives an annual management fee of 0.5%, charged quarterly in arrears, based on the Fund’s net asset value.

- Account minimum: $50,000 (the brochure says it may be waived or negotiated)

> The Fund generally requires a minimum initial investment of $50,000, although this minimum may be waived or reduced at the discretion of the Firm.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $958,643,639
- Discretionary: $958,643,639
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $958,643,639 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2025 (1 year)
- Employees: 7 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NV, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- militiacapital.com
- X @orrdavid

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $370,225,258 | 1 | April 1, 2025 |
| October 2026 | $958,643,639 | 7 | September 10, 2026 |

Regulatory assets under management: $370,225,258 in the October 2025 data and $958,643,639 in the October 2026 data, up 159%.
Total employees: 1 in October 2025 and 7 in October 2026.

## Changes in the filing (last 12 months)

### June 2026
- Regulatory assets under management went from $1,476,393,754 to $958,643,639 (-35%).

### April 2026
- Employees performing advisory functions went from 1 to 5.
- Regulatory assets under management went from $370,225,258 to $1,476,393,754 (+299%).
- Registered or notice-filed in TX.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Militia Capital Management, LLC (CRD 335763): Form ADV filing data as of October 2026.