# Millstreet Capital Management LLC

> Millstreet Capital Management LLC is an SEC-registered investment advisory firm in Boston, MA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 161566
- Filed as: MILLSTREET CAPITAL MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/161566
- AdvisorCensus page: https://advisorcensus.com/firm/millstreet-capital-management-llc-boston-ma-161566

## Quick answers

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

**Where is Millstreet Capital Management LLC located?**
Millstreet Capital Management LLC's principal office is in Boston, MA, according to its Form ADV.

**Is Millstreet Capital Management LLC registered with the SEC or a state?**
Millstreet Capital Management LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161566.

**How much does Millstreet Capital Management LLC manage?**
Millstreet Capital Management LLC reports $5,821,270,178 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Millstreet Capital Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Millstreet Capital Management LLC: Regulatory assets under management: $808,685,342 in the October 2021 data and $5,821,270,178 in the October 2026 data, up 620%. Total employees: 8 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Millstreet 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) (2).

**Which custodians does Millstreet Capital Management LLC use?**
Millstreet Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street Bank & Trust Co. as a custodian holding 10% or more of its separately managed account assets.

**Does Millstreet 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/161566

**What changed in Millstreet Capital Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 4 to 5. Regulatory assets under management went from $4,133,696,846 to $5,821,270,178 (+41%).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- State Street Bank & Trust Co.

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: $5,821,270,178
- Discretionary: $5,821,270,178
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $5,196,810,682 |
| Other | Fewer than 5 | $624,459,496 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2012 (14 years)
- Employees: 14 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- millstreet.com
- LinkedIn @millstreet-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $808,685,342 | 8 | March 31, 2021 |
| October 2022 | $1,188,249,486 | 10 | March 31, 2022 |
| October 2023 | $1,773,850,338 | 11 | March 30, 2023 |
| October 2024 | $2,966,827,993 | 12 | March 28, 2024 |
| October 2025 | $4,133,696,846 | 12 | March 28, 2025 |
| October 2026 | $5,821,270,178 | 14 | March 30, 2026 |

Regulatory assets under management: $808,685,342 in the October 2021 data and $5,821,270,178 in the October 2026 data, up 620%.
Total employees: 8 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 5.
- Regulatory assets under management went from $4,133,696,846 to $5,821,270,178 (+41%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Millstreet Capital Management LLC (CRD 161566): Form ADV filing data as of October 2026.