{
  "crd_number": 155697,
  "slug": "palmer-square-capital-management-llc-mission-woods-ks-155697",
  "primary_business_name": "PALMER SQUARE CAPITAL MANAGEMENT LLC",
  "legal_name": "PALMER SQUARE CAPITAL MANAGEMENT LLC",
  "dbas": [],
  "city": "Mission Woods",
  "state": "KS",
  "country": "United States",
  "cbsa_code": "28140",
  "metro": {
    "cbsa_code": "28140",
    "common_name": "Kansas City",
    "msa_name": "Kansas City, MO-KS",
    "path": "/advisors/mo/kansas-city"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2011-01-03",
  "years_registered": 15,
  "period": "2026-10-01",
  "filing_date": "2026-09-22",
  "carried_forward": false,
  "raum_total": 25590582955.0,
  "raum_discretionary": 25590582955.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 76,
  "advisory_employees": 33,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": null
    },
    "charitable": {
      "raum": 349643540.0,
      "count": 12
    },
    "individuals": {
      "raum": 0.0,
      "count": null
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": null
    },
    "state_municipal": {
      "raum": 0.0,
      "count": null
    },
    "insurance_companies": {
      "raum": 185412569.0,
      "count": 4,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 2255665182.0,
      "count": 8
    },
    "pension_profit_sharing": {
      "raum": 201399363.0,
      "count": 2,
      "fewer_than_5": true
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": null
    },
    "high_net_worth_individuals": {
      "raum": 365440355.0,
      "count": 47
    },
    "pooled_investment_vehicles": {
      "raum": 21492520069.0,
      "count": 74
    },
    "corporations_other_businesses": {
      "raum": 740501877.0,
      "count": 12
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": null
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": null
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "DE",
    "KS"
  ],
  "websites": [
    "https://etf.palmersquarefunds.com",
    "https://linkedin.com/COMPANY/PALMER-SQUARE-CAPITAL",
    "https://palmersquarebdc.com",
    "https://palmersquarecap.com",
    "https://palmersquarefunds.com",
    "https://twitter.com/PALMER_SQUARE",
    "https://youtube.com/USER/PALMERSQUARECAPITAL"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155697",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "MISSION WOODS",
  "url": "https://advisorcensus.com/firm/palmer-square-capital-management-llc-mission-woods-ks-155697",
  "display_name": "Palmer Square Capital Management LLC",
  "summary": "Palmer Square Capital Management LLC is an SEC-registered investment advisory firm in Mission Woods, KS, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 22, 2026.",
  "citation": "AdvisorCensus. Palmer Square Capital Management LLC (CRD 155697): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "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",
    "Selection of other advisers (including private fund managers)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Palmer Square Capital Management LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Palmer Square Capital Management LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Palmer Square Capital Management LLC located?",
      "a": "Palmer Square Capital Management LLC's principal office is in Mission Woods, KS, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Palmer Square Capital Management LLC registered with the SEC or a state?",
      "a": "Palmer Square Capital Management LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 155697."
    },
    {
      "q": "How much does Palmer Square Capital Management LLC manage?",
      "a": "Palmer Square Capital Management LLC reports $25,590,582,955 in regulatory assets under management in its Form ADV filing dated September 22, 2026 (100% discretionary)."
    },
    {
      "q": "How have Palmer Square Capital Management LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Palmer Square Capital Management LLC: Regulatory assets under management: $13,782,602,899 in the October 2021 data and $25,590,582,955 in the October 2026 data, up 86%. Total employees: 33 in October 2021 and 76 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Palmer Square Capital Management LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (74); high net worth individuals (47); charitable organizations (12)."
    },
    {
      "q": "Which custodians does Palmer Square Capital Management LLC use?",
      "a": "Palmer Square Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, JP Morgan Private Bank and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Palmer Square Capital Management LLC report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/155697"
    },
    {
      "q": "What changed in Palmer Square Capital Management LLC's recent Form ADV filings?",
      "a": "In the December 2025 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 13782602899.0,
      "total_employees": 33,
      "filing_date": "2021-04-01"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 17345973894.0,
      "total_employees": 40,
      "filing_date": "2022-05-02"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 20767599397.0,
      "total_employees": 48,
      "filing_date": "2023-08-25"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 22544205893.0,
      "total_employees": 56,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 27091623176.0,
      "total_employees": 71,
      "filing_date": "2025-05-20"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 25590582955.0,
      "total_employees": 76,
      "filing_date": "2026-09-22"
    }
  ],
  "recent_changes": [
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "BNY Mellon",
      "name_as_filed": "BNY MELLON",
      "affiliated": false
    },
    {
      "name": "JP Morgan Private Bank",
      "name_as_filed": "JP MORGAN PRIVATE BANK",
      "affiliated": false
    },
    {
      "name": "The Northern Trust Company",
      "name_as_filed": "THE NORTHERN TRUST COMPANY",
      "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/palmer-square-capital-management-llc-mission-woods-ks-155697.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 47,
      "fewer_than_5": false,
      "raum": 365440355.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 8,
      "fewer_than_5": false,
      "raum": 2255665182.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 74,
      "fewer_than_5": false,
      "raum": 21492520069.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 2,
      "fewer_than_5": true,
      "raum": 201399363.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 12,
      "fewer_than_5": false,
      "raum": 349643540.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 4,
      "fewer_than_5": true,
      "raum": 185412569.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 12,
      "fewer_than_5": false,
      "raum": 740501877.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "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/155697",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}