# New Forests Inc.

> New Forests Inc. is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2019, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 22, 2025.

- CRD: 165267
- Filed as: NEW FORESTS INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: September 22, 2025
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/165267
- AdvisorCensus page: https://advisorcensus.com/firm/new-forests-inc-san-francisco-ca-165267

## Quick answers

**How is New Forests Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), New Forests Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is New Forests Inc. located?**
New Forests Inc.'s principal office is in San Francisco, CA, according to its Form ADV.

**Is New Forests Inc. registered with the SEC or a state?**
New Forests Inc. is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 165267.

**How much does New Forests Inc. manage?**
New Forests Inc. reports $981,851,617 in regulatory assets under management in its Form ADV filing dated September 22, 2025 (100% discretionary).

**How have New Forests Inc.'s assets and staff changed since 2021?**
In the Form ADV data for New Forests Inc.: Regulatory assets under management: $433,266,350 in the October 2021 data and $981,851,617 in the October 2026 data, up 127%. Total employees: 16 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does New Forests Inc. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).

**Does New Forests 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/165267

**What changed in New Forests Inc.'s recent Form ADV filings?**
In the December 2025 filing data: Regulatory assets under management went from $684,128,574 to $981,851,617 (+44%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $981,851,617
- Discretionary: $981,851,617
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| 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) | 4 | $981,851,617 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| 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)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2019 (7 years)
- Employees: 22 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DE
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [newforests.com](https://newforests.com)
- LinkedIn @new-forests
- X @newforests
- YouTube @UCZUhXGWBs3By8EvqaQlvJEA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $433,266,350 | 16 | September 30, 2021 |
| October 2022 | $588,855,605 | 19 | September 30, 2022 |
| October 2023 | $583,698,369 | 22 | October 3, 2023 |
| October 2024 | $633,596,842 | 22 | November 7, 2023 |
| October 2025 | $684,128,574 | 23 | March 27, 2025 |
| October 2026 | $981,851,617 | 22 | September 22, 2025 |

Regulatory assets under management: $433,266,350 in the October 2021 data and $981,851,617 in the October 2026 data, up 127%.
Total employees: 16 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

### December 2025
- Regulatory assets under management went from $684,128,574 to $981,851,617 (+44%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. New Forests Inc. (CRD 165267): Form ADV filing data as of October 2026.