{
  "crd_number": 106288,
  "slug": "morgan-dempsey-capital-management-llc-milwaukee-wi-106288",
  "primary_business_name": "MORGAN DEMPSEY CAPITAL MANAGEMENT LLC",
  "legal_name": "MORGAN DEMPSEY CAPITAL MANAGEMENT LLC",
  "dbas": [],
  "city": "Milwaukee",
  "state": "WI",
  "country": "United States",
  "cbsa_code": "33340",
  "metro": {
    "cbsa_code": "33340",
    "common_name": "Milwaukee",
    "msa_name": "Milwaukee-Waukesha, WI",
    "path": "/advisors/wi/milwaukee"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1994-12-19",
  "years_registered": 31,
  "period": "2026-10-01",
  "filing_date": "2026-03-06",
  "carried_forward": false,
  "raum_total": 252255333.0,
  "raum_discretionary": 251747683.0,
  "raum_non_discretionary": 507650.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 6,
  "advisory_employees": 3,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 1275220.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 0.0,
      "count": 0
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 34302535.0,
      "count": 1
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 213718417.0,
      "count": 454
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 2959161.0,
      "count": 8
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "FL",
    "IL",
    "LA",
    "MA",
    "MD",
    "MN",
    "NC",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OR",
    "TX",
    "VA",
    "VI",
    "WA",
    "WI"
  ],
  "websites": [
    "https://linkedin.com/COMPANY/MORGAN-DEMPSEY-CAPITAL-MANAGEMENT-LLC",
    "https://morgandempsey.com",
    "https://morgandempseyfunds.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106288",
  "city_as_filed": "MILWAUKEE",
  "url": "https://advisorcensus.com/firm/morgan-dempsey-capital-management-llc-milwaukee-wi-106288",
  "display_name": "Morgan Dempsey Capital Management LLC",
  "summary": "Morgan Dempsey Capital Management LLC is an SEC-registered investment advisory firm in Milwaukee, WI, registered since 1994, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 6, 2026.",
  "citation": "AdvisorCensus. Morgan Dempsey Capital Management LLC (CRD 106288): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Morgan Dempsey Capital Management LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Morgan Dempsey Capital Management LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Morgan Dempsey Capital Management LLC located?",
      "a": "Morgan Dempsey Capital Management LLC's principal office is in Milwaukee, WI, according to its Form ADV."
    },
    {
      "q": "Is Morgan Dempsey Capital Management LLC registered with the SEC or a state?",
      "a": "Morgan Dempsey Capital Management LLC is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106288."
    },
    {
      "q": "How much does Morgan Dempsey Capital Management LLC manage?",
      "a": "Morgan Dempsey Capital Management LLC reports $252,255,333 in regulatory assets under management in its Form ADV filing dated March 6, 2026 (100% discretionary)."
    },
    {
      "q": "How have Morgan Dempsey Capital Management LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Morgan Dempsey Capital Management LLC: Regulatory assets under management: $333,971,546 in the October 2021 data and $252,255,333 in the October 2026 data, down 24%. Total employees: 7 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Morgan Dempsey Capital Management LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (454); corporations or other businesses not listed above (8); investment companies (1)."
    },
    {
      "q": "Which custodians does Morgan Dempsey Capital Management LLC use?",
      "a": "Morgan Dempsey Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Capital Corporation, Inc., RBC Clearing and Custody and Wells Fargo Securities, LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Morgan Dempsey Capital Management LLC report any disciplinary disclosures?",
      "a": "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/106288"
    },
    {
      "q": "What changed in Morgan Dempsey Capital Management LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $286,579,170 to $252,255,333 (-12%). Registered or notice-filed in VI."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 333971546.0,
      "total_employees": 7,
      "filing_date": "2021-04-09"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 340836703.0,
      "total_employees": 6,
      "filing_date": "2022-09-08"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 381226790.0,
      "total_employees": 7,
      "filing_date": "2023-06-09"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 345754439.0,
      "total_employees": 7,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 286579170.0,
      "total_employees": 5,
      "filing_date": "2025-06-17"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 252255333.0,
      "total_employees": 6,
      "filing_date": "2026-03-06"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $286,579,170 to $252,255,333 (-12%).",
        "Registered or notice-filed in VI."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer registered or notice-filed in CT, DC, PA."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Fidelity Capital Corporation, Inc.",
      "name_as_filed": "FIDELITY CAPITAL CORPORATION, INC.",
      "affiliated": false
    },
    {
      "name": "RBC Clearing and Custody",
      "name_as_filed": "RBC CLEARING AND CUSTODY",
      "affiliated": false
    },
    {
      "name": "Wells Fargo Securities, LLC",
      "name_as_filed": "WELLS FARGO SECURITIES, LLC",
      "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/morgan-dempsey-capital-management-llc-milwaukee-wi-106288.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 454,
      "fewer_than_5": false,
      "raum": 213718417.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 34302535.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 1275220.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 8,
      "fewer_than_5": false,
      "raum": 2959161.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/106288",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}