AdvisorCensus / Financial advisors / Minnesota / Minneapolis / North Sky Capital, LLC
North Sky Capital, LLC is an SEC-registered investment advisory firm in Wayzata, MN, registered since 2005, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.
Quick answers
From the filingHow is North Sky Capital, LLC compensated?
On its Form ADV (Item 5.E, October 2026), North Sky Capital, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
Where is North Sky Capital, LLC located?
North Sky Capital, LLC's principal office is in Wayzata, MN, according to its Form ADV.
Is North Sky Capital, LLC registered with the SEC or a state?
North Sky Capital, LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 133959.
How much does North Sky Capital, LLC manage?
North Sky Capital, LLC reports $986,144,451 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).
How have North Sky Capital, LLC's assets and staff changed since 2021?
In the Form ADV data for North Sky Capital, LLC: Regulatory assets under management: $883,173,240 in the October 2021 data and $986,144,451 in the October 2026 data, up 12%. Total employees: 15 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does North Sky Capital, LLC serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (15).
Does North Sky Capital, 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/133959
Does North Sky Capital, LLC state an account minimum?
Its Form ADV Part 2A brochure dated March 25, 2026 says: "Generally, investors must invest a minimum dollar amount of $ 1 million to invest in a North Sky Capital Fund. The general partners of each North Sky Capital Fund has discretion to waive the minimum investment amount."
What changed in North Sky Capital, LLC's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $869,193,743 to $986,144,451 (+13%). Employees performing advisory functions went from 15 to 13.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
Generally, investors must invest a minimum dollar amount of $ 1 million to invest in a North Sky Capital Fund. The general partners of each North Sky Capital Fund has discretion to waive the minimum investment amount.
As stated in the firm's Form ADV Part 2A brochure dated March 25, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$986,144,451 as of October 2026, filing dated March 25, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2005 (21 years)
- Employees
- Total: 17. Performing investment advisory functions: 13.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $986,144,451 | 17 | March 25, 2026 |
| October 2025 | $869,193,743 | 20 | March 31, 2025 |
| October 2024 | $852,395,109 | 20 | April 1, 2024 |
| October 2023 | $1,002,717,514 | 19 | July 25, 2023 |
| October 2022 | $976,592,004 | 19 | March 30, 2022 |
| October 2021 | $883,173,240 | 15 | March 19, 2021 |
Regulatory assets under management: $883,173,240 in the October 2021 data and $986,144,451 in the October 2026 data, up 12%.
Total employees: 15 in October 2021 and 17 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $869,193,743 to $986,144,451 (+13%).
- Employees performing advisory functions went from 15 to 13.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. North Sky Capital, LLC (CRD 133959): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/north-sky-capital-llc-wayzata-mn-133959