# North Star Investment Management Corporation

> North Star Investment Management Corporation is an SEC-registered investment advisory firm in Chicago, IL, registered since 2003, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 14, 2026.

- CRD: 117681
- Filed as: NORTH STAR INVESTMENT MANAGEMENT CORPORATION
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: April 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/117681
- AdvisorCensus page: https://advisorcensus.com/firm/north-star-investment-management-corporation-chicago-il-117681

## Quick answers

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

**Where is North Star Investment Management Corporation located?**
North Star Investment Management Corporation's principal office is in Chicago, IL, according to its Form ADV; the May 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is North Star Investment Management Corporation registered with the SEC or a state?**
North Star Investment Management Corporation is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 117681.

**How much does North Star Investment Management Corporation manage?**
North Star Investment Management Corporation reports $2,502,412,026 in regulatory assets under management in its Form ADV filing dated April 14, 2026 (97% discretionary).

**How have North Star Investment Management Corporation's assets and staff changed since 2021?**
In the Form ADV data for North Star Investment Management Corporation: Regulatory assets under management: $1,652,527,550 in the October 2021 data and $2,502,412,026 in the October 2026 data, up 51%. Total employees: 28 in October 2021 and 26 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does North Star Investment Management Corporation serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (2,023); high net worth individuals (513); pension and profit sharing plans (but not the plan participants or government pension plans) (80).

**Which custodians does North Star Investment Management Corporation use?**
North Star Investment Management Corporation's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Distributors Company LLC and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does North Star Investment Management Corporation 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/117681

**What changed in North Star Investment Management Corporation's recent Form ADV filings?**
In the May 2026 filing data: Registered or notice-filed in LA.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Distributors Company LLC
- National Financial Services 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: $2,502,412,026
- Discretionary: $2,425,295,366
- Non-discretionary: $77,116,660

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 2,023 | $365,841,343 |
| High net worth individuals | 513 | $1,588,676,354 |
| Banking or thrift institutions | Fewer than 5 | Not reported |
| Investment companies | 5 | $397,832,295 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 80 | $129,532,170 |
| Charitable organizations | 22 | $20,529,864 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | Not reported |
| Other investment advisers | Fewer than 5 | Not reported |
| Insurance companies | Fewer than 5 | Not reported |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | Not reported |
| Corporations or other businesses not listed above | Fewer than 5 | Not reported |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2003 (23 years)
- Employees: 26 total, 14 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, CT, DC, FL, GA, IA, IL, IN, KS, LA, MA, MD, MI, MN, MT, NC, NJ, NM, NV, NY, OH, OR, PA, SD, TN, TX, UT, VA, VT, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Glen Ellyn, IL
- Highland Park, IL

### Websites listed on Form ADV (Item 1.I)
- [nsinvest.com](https://nsinvest.com)
- Facebook @InvestNS
- Instagram @ns.invest
- LinkedIn @north-star-investment-management-corp
- X @nsinvest

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,652,527,550 | 28 | March 24, 2021 |
| October 2022 | $2,024,027,301 | 28 | March 11, 2022 |
| October 2023 | $1,759,984,298 | 28 | May 15, 2023 |
| October 2024 | $2,087,252,952 | 29 | July 29, 2024 |
| October 2025 | $2,280,660,353 | 29 | July 8, 2025 |
| October 2026 | $2,502,412,026 | 26 | April 14, 2026 |

Regulatory assets under management: $1,652,527,550 in the October 2021 data and $2,502,412,026 in the October 2026 data, up 51%.
Total employees: 28 in October 2021 and 26 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Registered or notice-filed in LA.

### April 2026
- Employees performing advisory functions went from 15 to 14.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. North Star Investment Management Corporation (CRD 117681): Form ADV filing data as of October 2026.