{
  "crd_number": 338780,
  "slug": "rail-splitter-capital-advisers-llc-chicago-il-338780",
  "primary_business_name": "RAIL SPLITTER CAPITAL ADVISERS, LLC",
  "legal_name": "RAIL SPLITTER CAPITAL ADVISERS, LLC",
  "dbas": [],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2026-01-21",
  "years_registered": 0,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 60956884.0,
  "raum_discretionary": 60956884.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "25m_100m",
  "raum_band_label": "$25 million to $100 million",
  "total_employees": 3,
  "advisory_employees": 3,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 39083728.0,
      "count": 1,
      "description": "ENDOWMENT FUND",
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 21873156.0,
      "count": 2
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://railsplittercap.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/338780",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/rail-splitter-capital-advisers-llc-chicago-il-338780",
  "display_name": "Rail Splitter Capital Advisers, LLC",
  "summary": "Rail Splitter Capital Advisers, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2026, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Rail Splitter Capital Advisers, LLC (CRD 338780): 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)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Rail Splitter Capital Advisers, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Rail Splitter Capital Advisers, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Rail Splitter Capital Advisers, LLC located?",
      "a": "Rail Splitter Capital Advisers, LLC's principal office is in Chicago, IL, according to its Form ADV."
    },
    {
      "q": "Is Rail Splitter Capital Advisers, LLC registered with the SEC or a state?",
      "a": "Rail Splitter Capital Advisers, LLC is an SEC-registered investment advisory firm, registered since 2026. Status as filed: Approved. CRD 338780."
    },
    {
      "q": "How much does Rail Splitter Capital Advisers, LLC manage?",
      "a": "Rail Splitter Capital Advisers, LLC reports $60,956,884 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary)."
    },
    {
      "q": "What types of clients does Rail Splitter Capital Advisers, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2); other (1)."
    },
    {
      "q": "Which custodians does Rail Splitter Capital Advisers, LLC use?",
      "a": "Rail Splitter Capital Advisers, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon Securities Corporation as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Rail Splitter Capital Advisers, LLC report any disciplinary disclosures?",
      "a": "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/338780"
    },
    {
      "q": "Does Rail Splitter Capital Advisers, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"Investors in the Funds are generally subject to a minimum investment amount of $250,000 but we may waive this minimum.\""
    },
    {
      "q": "What changed in Rail Splitter Capital Advisers, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $72,134,505 to $60,956,884 (-15%)."
    }
  ],
  "filing_history": [],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $72,134,505 to $60,956,884 (-15%)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Newly registered with the SEC."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$250,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $250,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Investors in the Funds are generally subject to a minimum investment amount of $250,000 but we may waive this minimum."
        ]
      }
    ],
    "quotes": [
      "Investors in the Funds are generally subject to a minimum investment amount of $250,000 but we may waive this minimum."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "BNY Mellon Securities Corporation",
      "name_as_filed": "BNY MELLON SECURITIES CORPORATION",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/rail-splitter-capital-advisers-llc-chicago-il-338780.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 21873156.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 1,
      "fewer_than_5": true,
      "raum": 39083728.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/338780",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}