# Pinestone Asset Management Inc.

> Pinestone Asset Management Inc. is an SEC-registered investment advisory firm in Montreal, Quebec, Canada, registered since 2021, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 317431
- Filed as: PINESTONE ASSET MANAGEMENT INC.
- Also doing business as: GESTION D'ACTIFS PINESTONE INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Montreal, Quebec, Canada
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/317431
- AdvisorCensus page: https://advisorcensus.com/firm/pinestone-asset-management-inc-montreal-quebec-317431

## Quick answers

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

**How much does Pinestone Asset Management Inc. charge?**
Its Form ADV Part 2A brochure dated March 30, 2026 states: Asset-based fee: 0.4% to 0.85% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Pinestone Asset Management Inc. located?**
Pinestone Asset Management Inc.'s principal office is in Montreal, Quebec, Canada, according to its Form ADV.

**Is Pinestone Asset Management Inc. registered with the SEC or a state?**
Pinestone Asset Management Inc. is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 317431.

**How much does Pinestone Asset Management Inc. manage?**
Pinestone Asset Management Inc. reports $54,134,531,229 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (93% discretionary).

**How have Pinestone Asset Management Inc.'s assets and staff changed since 2022?**
In the Form ADV data for Pinestone Asset Management Inc.: Regulatory assets under management: $48,579,119,916 in the October 2022 data and $54,134,531,229 in the October 2026 data, up 11%. Total employees: 16 in October 2022 and 46 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Pinestone Asset Management Inc. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (49); pension and profit sharing plans (but not the plan participants or government pension plans) (12); other investment advisers (10).

**Which custodians does Pinestone Asset Management Inc. use?**
Pinestone Asset Management Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Mellon Trust Company, Brown Brother Harriman & Co., State Street Trust Company and State Street Trust Company Canada as custodians holding 10% or more of its separately managed account assets.

**Does Pinestone Asset Management Inc. 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/317431

**What changed in Pinestone Asset Management Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 10 to 13.

## 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 30, 2026)

- Asset-based fee: 0.4% to 0.85% a year (a range, as the brochure states it)

> Management fees (per annum) for our separately managed accounts are negotiable and generally range between 0.40% and 0.85% depending on the size of the mandate, scope of the relationship, and several other factors.

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

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York Mellon Trust Company
- Brown Brother Harriman & Co.
- State Street Trust Company
- State Street Trust Company Canada

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: $54,134,531,229
- Discretionary: $50,496,900,365
- Non-discretionary: $3,637,630,864

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 7 | $3,770,574,490 |
| Pooled investment vehicles (other than investment companies and business development companies) | 49 | $35,404,195,311 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 12 | $4,752,290,920 |
| Charitable organizations | Fewer than 5 | $13,725,724 |
| State or municipal government entities (including government pension plans) | 8 | $4,253,008,034 |
| Other investment advisers | 10 | $4,312,635,979 |
| Corporations or other businesses not listed above | Fewer than 5 | $291,505,371 |
| Other | 9 | $1,336,595,400 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 2021 (4 years)
- Employees: 46 total, 13 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $48,579,119,916 | 16 | March 25, 2022 |
| October 2023 | $40,281,680,317 | 22 | May 10, 2023 |
| October 2024 | $44,334,517,660 | 27 | March 28, 2024 |
| October 2025 | $50,775,494,391 | 36 | March 28, 2025 |
| October 2026 | $54,134,531,229 | 46 | March 30, 2026 |

Regulatory assets under management: $48,579,119,916 in the October 2022 data and $54,134,531,229 in the October 2026 data, up 11%.
Total employees: 16 in October 2022 and 46 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 10 to 13.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Pinestone Asset Management Inc. (CRD 317431): Form ADV filing data as of October 2026.