# Pfingsten Partners, L.L.C.

> Pfingsten Partners, L.L.C. is an SEC-registered investment advisory firm in Chicago, IL, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 156493
- Filed as: PFINGSTEN PARTNERS, L.L.C.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/156493
- AdvisorCensus page: https://advisorcensus.com/firm/pfingsten-partners-l-l-c-chicago-il-156493

## Quick answers

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

**What does Pfingsten Partners, L.L.C.'s brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 2% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Pfingsten Partners, L.L.C. located?**
Pfingsten Partners, L.L.C.'s principal office is in Chicago, IL, according to its Form ADV.

**Is Pfingsten Partners, L.L.C. registered with the SEC or a state?**
Pfingsten Partners, L.L.C. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156493.

**How much does Pfingsten Partners, L.L.C. manage?**
Pfingsten Partners, L.L.C. reports $787,015,536 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Pfingsten Partners, L.L.C.'s assets and staff changed since 2021?**
In the Form ADV data for Pfingsten Partners, L.L.C.: Regulatory assets under management: $635,108,045 in the October 2021 data and $787,015,536 in the October 2026 data, up 24%. Total employees: 18 in October 2021 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Pfingsten Partners, L.L.C. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).

**Does Pfingsten Partners, L.L.C. 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/156493

**What changed in Pfingsten Partners, L.L.C.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 20 to 19. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: 2% of assets a year

> Each Fund’s general partner charges its respective Funds a gross annual management fee equal to 2.0% of the aggregate commitments to such Fund.

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

### Regulatory assets under management (Item 5.F)
- Total: $787,015,536
- Discretionary: $787,015,536
- 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 | $787,015,536 |
| 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 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 20 total, 19 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- pfingsten.com
- LinkedIn @PFINGSTEN-PARTNERS

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $635,108,045 | 18 | March 30, 2021 |
| October 2022 | $773,174,739 | 19 | March 25, 2022 |
| October 2023 | $774,743,074 | 20 | May 3, 2023 |
| October 2024 | $1,075,716,083 | 20 | March 29, 2024 |
| October 2025 | $838,197,895 | 21 | March 30, 2025 |
| October 2026 | $787,015,536 | 20 | March 31, 2026 |

Regulatory assets under management: $635,108,045 in the October 2021 data and $787,015,536 in the October 2026 data, up 24%.
Total employees: 18 in October 2021 and 20 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 20 to 19.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Pfingsten Partners, L.L.C. (CRD 156493): Form ADV filing data as of October 2026.