# Nepsis, Inc.

> Nepsis, Inc. is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 2006, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 4, 2026.

- CRD: 141203
- Filed as: NEPSIS, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Minneapolis, MN
- Filing period: October 2026
- Form ADV filing dated: February 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/141203
- AdvisorCensus page: https://advisorcensus.com/firm/nepsis-inc-minneapolis-mn-141203

## Quick answers

**How is Nepsis, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Nepsis, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Nepsis, Inc. located?**
Nepsis, Inc.'s principal office is in Minneapolis, MN, according to its Form ADV; the March 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Nepsis, Inc. registered with the SEC or a state?**
Nepsis, Inc. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 141203.

**How much does Nepsis, Inc. manage?**
Nepsis, Inc. reports $344,509,038 in regulatory assets under management in its Form ADV filing dated February 4, 2026 (100% discretionary).

**How have Nepsis, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Nepsis, Inc.: Regulatory assets under management: $370,002,629 in the October 2021 data and $344,509,038 in the October 2026 data, down 7%. Total employees: 18 in October 2021 and 37 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Nepsis, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (494); high net worth individuals (96).

**Which custodians does Nepsis, Inc. use?**
Nepsis, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Pershing Advisor Solutions LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Nepsis, Inc. 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/141203

**What changed in Nepsis, Inc.'s recent Form ADV filings?**
In the February 2026 filing data: Employees performing advisory functions went from 25 to 18. Regulatory assets under management went from $497,803,635 to $344,509,038 (-31%). No longer lists an office in Bloomington, IL.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Subscription fees (for a newsletter or periodical)
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Pershing Advisor Solutions LLC

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: $344,509,038
- Discretionary: $344,509,038
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 494 | $120,721,802 |
| High net worth individuals | 96 | $222,529,092 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $1,258,144 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Educational seminars/workshops

### Firm details
- Registered since: 2006 (20 years)
- Employees: 37 total, 18 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, FL, HI, IA, ID, IL, IN, LA, MN, NC, NE, NY, TN, TX, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the March 2026 filing
- Bloomington, MN

### Websites listed on Form ADV (Item 1.I)
- [instagram/investwithclarity](https://instagram/investwithclarity)
- [investingforsuccessforyou.com](https://investingforsuccessforyou.com)
- [investwithclarity.com](https://investwithclarity.com)
- [nepsis.com](https://nepsis.com)
- Facebook @Nepsisinc
- LinkedIn @nepsis-capital-management
- X @nepsisinc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $370,002,629 | 18 | March 3, 2021 |
| October 2022 | $350,380,122 | 18 | April 26, 2022 |
| October 2023 | $297,861,058 | 19 | June 12, 2023 |
| October 2024 | $350,793,190 | 23 | July 12, 2024 |
| October 2025 | $497,803,635 | 43 | March 31, 2025 |
| October 2026 | $344,509,038 | 37 | February 4, 2026 |

Regulatory assets under management: $370,002,629 in the October 2021 data and $344,509,038 in the October 2026 data, down 7%.
Total employees: 18 in October 2021 and 37 in October 2026.

## Changes in the filing (last 12 months)

### February 2026
- Employees performing advisory functions went from 25 to 18.
- Regulatory assets under management went from $497,803,635 to $344,509,038 (-31%).
- No longer lists an office in Bloomington, IL.

### December 2025
- Registered or notice-filed in IA, TN.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Nepsis, Inc. (CRD 141203): Form ADV filing data as of October 2026.