{
  "crd_number": 172658,
  "slug": "pnc-steel-city-advisors-llc-pittsburgh-pa-172658",
  "primary_business_name": "PNC STEEL CITY ADVISORS, LLC",
  "legal_name": "PNC STEEL CITY ADVISORS, LLC",
  "dbas": [],
  "city": "Pittsburgh",
  "state": "PA",
  "country": "United States",
  "cbsa_code": "38300",
  "metro": {
    "cbsa_code": "38300",
    "common_name": "Pittsburgh",
    "msa_name": "Pittsburgh, PA",
    "path": "/advisors/pa/pittsburgh"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2014-11-24",
  "years_registered": 11,
  "period": "2026-10-01",
  "filing_date": "2026-05-15",
  "carried_forward": false,
  "raum_total": 2716618620.0,
  "raum_discretionary": 18204736.0,
  "raum_non_discretionary": 2698413884.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 12,
  "advisory_employees": 12,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 2048180543.0,
      "count": 3
    },
    "business_development_companies": {
      "raum": 668438077.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 6,
  "states_registered": [],
  "websites": [],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/172658",
  "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?"
    },
    {
      "item": "11.D(1)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    }
  ],
  "city_as_filed": "PITTSBURGH",
  "url": "https://advisorcensus.com/firm/pnc-steel-city-advisors-llc-pittsburgh-pa-172658",
  "display_name": "PNC Steel City Advisors, LLC",
  "summary": "PNC Steel City Advisors, LLC is an SEC-registered investment advisory firm in Pittsburgh, PA, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 15, 2026.",
  "citation": "AdvisorCensus. PNC Steel City Advisors, LLC (CRD 172658): 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 pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is PNC Steel City Advisors, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), PNC Steel City Advisors, 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 PNC Steel City Advisors, LLC located?",
      "a": "PNC Steel City Advisors, LLC's principal office is in Pittsburgh, PA, according to its Form ADV; the June 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is PNC Steel City Advisors, LLC registered with the SEC or a state?",
      "a": "PNC Steel City Advisors, LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 172658."
    },
    {
      "q": "How much does PNC Steel City Advisors, LLC manage?",
      "a": "PNC Steel City Advisors, LLC reports $2,716,618,620 in regulatory assets under management in its Form ADV filing dated May 15, 2026 (1% discretionary)."
    },
    {
      "q": "How have PNC Steel City Advisors, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for PNC Steel City Advisors, LLC: Regulatory assets under management: $172,753,629 in the October 2021 data and $2,716,618,620 in the October 2026 data, up 1473%. Total employees: 20 in October 2021 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does PNC Steel City Advisors, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3); business development companies (1)."
    },
    {
      "q": "Does PNC Steel City Advisors, LLC report any disciplinary disclosures?",
      "a": "Reports 6 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), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct), 11.D(2) (another regulator's finding of a violation), and 11.D(4) (another regulator's order in the past ten years). 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/172658"
    },
    {
      "q": "What changed in PNC Steel City Advisors, LLC's recent Form ADV filings?",
      "a": "In the June 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 172753629.0,
      "total_employees": 20,
      "filing_date": "2021-03-26"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 45702195.0,
      "total_employees": 24,
      "filing_date": "2022-03-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 42164679.0,
      "total_employees": 29,
      "filing_date": "2023-05-12"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 30124389.0,
      "total_employees": 14,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 665527080.0,
      "total_employees": 15,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 2716618620.0,
      "total_employees": 12,
      "filing_date": "2026-05-15"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 15 to 12.",
        "Regulatory assets under management went from $1,697,421,314 to $2,716,618,620 (+60%)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Regulatory assets under management went from $665,527,080 to $1,697,421,314 (+155%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/pnc-steel-city-advisors-llc-pittsburgh-pa-172658.md",
  "clients": [
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 668438077.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 2048180543.0
    }
  ],
  "disclosure_line": "Reports 6 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/172658",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}