# Red Cedar Investment Management

> Red Cedar Investment Management is an SEC-registered investment advisory firm in Grand Rapids, MI, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 19, 2026.

- CRD: 170939
- Filed as: RED CEDAR INVESTMENT MANAGEMENT
- Legal name: Red Cedar Investment Management, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Grand Rapids, MI
- Filing period: October 2026
- Form ADV filing dated: May 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/170939
- AdvisorCensus page: https://advisorcensus.com/firm/red-cedar-investment-management-grand-rapids-mi-170939

## Quick answers

**How is Red Cedar Investment Management compensated?**
On its Form ADV (Item 5.E, October 2026), Red Cedar Investment Management reports these compensation arrangements: a percentage of assets under its management.

**What does Red Cedar Investment Management's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.3% to 0.6% 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 Red Cedar Investment Management located?**
Red Cedar Investment Management's principal office is in Grand Rapids, MI, according to its Form ADV; the June 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Red Cedar Investment Management registered with the SEC or a state?**
Red Cedar Investment Management is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 170939.

**How much does Red Cedar Investment Management manage?**
Red Cedar Investment Management reports $3,328,007,890 in regulatory assets under management in its Form ADV filing dated May 19, 2026 (100% discretionary).

**How have Red Cedar Investment Management's assets and staff changed since 2021?**
In the Form ADV data for Red Cedar Investment Management: Regulatory assets under management: $1,725,161,917 in the October 2021 data and $3,328,007,890 in the October 2026 data, up 93%. Total employees: 14 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Red Cedar Investment Management serve?**
By number of clients on Form ADV Item 5.D: insurance companies (9); investment companies (4); pension and profit sharing plans (but not the plan participants or government pension plans) (4).

**Which custodians does Red Cedar Investment Management use?**
Red Cedar Investment Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Northern Trust Corporation and US Bancorp as custodians holding 10% or more of its separately managed account assets.

**Does Red Cedar Investment Management 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/170939

**What changed in Red Cedar Investment Management's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,982,345,061 to $3,328,007,890 (+68%). 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

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

- Asset-based fee: 0.3% to 0.6% a year (a range, as the brochure states it)

> The standard fee schedules for institutional clients are expected to range from 0.30% to 0.60% annually.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Northern Trust Corporation
- US Bancorp

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: $3,328,007,890
- Discretionary: $3,328,007,890
- 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 | 4 | $1,255,877,950 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $19,147,274 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4 | $343,780,738 |
| Charitable organizations | 4 | $152,292,302 |
| State or municipal government entities (including government pension plans) | 1 | $325,761,614 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 9 | $1,175,973,489 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 3 | $55,174,523 |

### 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
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2014 (12 years)
- Employees: 18 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MI, OH
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Cincinnati, OH

### Websites listed on Form ADV (Item 1.I)
- iheart.com/podcast/1333-caveat-emptor-269785500/episode/b-93-1157
- open.spotify.com/show/26BUuR4lnT69ClNCvHVHkB
- podcasts.apple.com/us/podcast/caveat-emptor/id1799982445
- redcedarim.com
- substack.com/@freshwatereconomist
- LinkedIn @red-cedar-investment-management-llc
- YouTube @redcedarim

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,725,161,917 | 14 | June 23, 2021 |
| October 2022 | $1,637,864,281 | 14 | June 21, 2022 |
| October 2023 | $1,454,717,654 | 14 | March 29, 2023 |
| October 2024 | $1,628,447,738 | 15 | May 28, 2024 |
| October 2025 | $1,982,345,061 | 17 | July 23, 2025 |
| October 2026 | $3,328,007,890 | 18 | May 19, 2026 |

Regulatory assets under management: $1,725,161,917 in the October 2021 data and $3,328,007,890 in the October 2026 data, up 93%.
Total employees: 14 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,982,345,061 to $3,328,007,890 (+68%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Red Cedar Investment Management (CRD 170939): Form ADV filing data as of October 2026.