# Paul Capital

> Paul Capital is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2002, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 20, 2026.

- CRD: 121168
- Filed as: PAUL CAPITAL
- Legal name: 3000 Management, Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: March 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/121168
- AdvisorCensus page: https://advisorcensus.com/firm/paul-capital-san-francisco-ca-121168

## Quick answers

**How is Paul Capital compensated?**
On its Form ADV (Item 5.E, October 2026), Paul Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.

**How much does Paul Capital charge?**
Its Form ADV Part 2A brochure dated March 20, 2026 states: Asset-based fee: 1.25% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Paul Capital located?**
Paul Capital's principal office is in San Francisco, CA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Paul Capital registered with the SEC or a state?**
Paul Capital is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 121168.

**How much does Paul Capital manage?**
Paul Capital reports $520,903,769 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary).

**How have Paul Capital's assets and staff changed since 2021?**
In the Form ADV data for Paul Capital: Regulatory assets under management: $908,895,848 in the October 2021 data and $520,903,769 in the October 2026 data, down 43%. Total employees: 9 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Paul Capital serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7).

**Does Paul Capital 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/121168

**Does Paul Capital state an account minimum?**
Its Form ADV Part 2A brochure dated March 20, 2026 says: "Each Client Fund generally has a minimum investment requirement for investors of $10 million and the limited partnership interests are offered and sold solely to qualified purchasers or qualified knowledgeable employees of Paul Capital Advisors."

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 20, 2026)

- Asset-based fee: 1.25% of assets a year

> Management Fees are 1.25% (or less) of investor subscriptions, investor contributions, or the net asset value of the assets under management.

- Account minimum: $10,000,000

> Each Client Fund generally has a minimum investment requirement for investors of $10 million and the limited partnership interests are offered and sold solely to qualified purchasers or qualified knowledgeable employees of Paul Capital Advisors.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $520,903,769
- Discretionary: $520,903,769
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $520,903,769 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2002 (23 years)
- Employees: 9 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Paris

### Websites listed on Form ADV (Item 1.I)
- LinkedIn @24263

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $908,895,848 | 9 | March 30, 2021 |
| October 2022 | $918,142,193 | 9 | March 24, 2022 |
| October 2023 | $695,111,830 | 9 | March 15, 2023 |
| October 2024 | $558,069,198 | 9 | March 22, 2024 |
| October 2025 | $538,996,057 | 9 | March 21, 2025 |
| October 2026 | $520,903,769 | 9 | March 20, 2026 |

Regulatory assets under management: $908,895,848 in the October 2021 data and $520,903,769 in the October 2026 data, down 43%.
Total employees: 9 in October 2021 and 9 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Paul Capital (CRD 121168): Form ADV filing data as of October 2026.