# PYA Waltman Capital, LLC

> PYA Waltman Capital, LLC is an SEC-registered investment advisory firm in Knoxville, TN, registered since 2005, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 2, 2026.

- CRD: 137283
- Filed as: PYA WALTMAN CAPITAL, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Knoxville, TN
- Filing period: October 2026
- Form ADV filing dated: March 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/137283
- AdvisorCensus page: https://advisorcensus.com/firm/pya-waltman-capital-llc-knoxville-tn-137283

## Quick answers

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

**Where is PYA Waltman Capital, LLC located?**
PYA Waltman Capital, LLC's principal office is in Knoxville, TN, according to its Form ADV.

**Is PYA Waltman Capital, LLC registered with the SEC or a state?**
PYA Waltman Capital, LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 137283.

**How much does PYA Waltman Capital, LLC manage?**
PYA Waltman Capital, LLC reports $1,005,970,630 in regulatory assets under management in its Form ADV filing dated March 2, 2026 (76% discretionary).

**How have PYA Waltman Capital, LLC's assets and staff changed since 2021?**
In the Form ADV data for PYA Waltman Capital, LLC: Regulatory assets under management: $879,167,089 in the October 2021 data and $1,005,970,630 in the October 2026 data, up 14%. Total employees: 12 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does PYA Waltman Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (206); high net worth individuals (192); pension and profit sharing plans (but not the plan participants or government pension plans) (15).

**Which custodians does PYA Waltman Capital, LLC use?**
PYA Waltman Capital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does PYA Waltman Capital, LLC 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/137283

**What changed in PYA Waltman Capital, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 11 to 8. Regulatory assets under management went from $819,277,781 to $1,005,970,630 (+23%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services LLC

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: $1,005,970,630
- Discretionary: $761,305,721
- Non-discretionary: $244,664,909

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 206 | $65,667,660 |
| High net worth individuals | 192 | $615,831,494 |
| 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) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 15 | $133,241,295 |
| Charitable organizations | 8 | $184,770,316 |
| 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 | 3 | $6,459,865 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2005 (20 years)
- Employees: 17 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, GA, IN, LA, NC, NH, TN, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- pyawaltman.com
- Facebook @PYAWALTMAN
- LinkedIn @PYA-WALTMAN-CAPITAL-LLC
- X @PYAWALTMAN
- YouTube @thewaltmanway

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $879,167,089 | 12 | March 16, 2021 |
| October 2022 | $1,017,643,452 | 11 | March 18, 2022 |
| October 2023 | $864,023,350 | 14 | February 16, 2023 |
| October 2024 | $1,030,582,694 | 14 | August 13, 2024 |
| October 2025 | $819,277,781 | 16 | March 12, 2025 |
| October 2026 | $1,005,970,630 | 17 | March 2, 2026 |

Regulatory assets under management: $879,167,089 in the October 2021 data and $1,005,970,630 in the October 2026 data, up 14%.
Total employees: 12 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 11 to 8.
- Regulatory assets under management went from $819,277,781 to $1,005,970,630 (+23%).

### December 2025
- No longer lists an office in Atlanta, GA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. PYA Waltman Capital, LLC (CRD 137283): Form ADV filing data as of October 2026.