# RHO Treasury

> RHO Treasury is an SEC-registered investment advisory firm in New York, NY, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 314581
- Filed as: RHO TREASURY
- Legal name: RBB Treasury LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/314581
- AdvisorCensus page: https://advisorcensus.com/firm/rho-treasury-new-york-ny-314581

## Quick answers

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

**Where is RHO Treasury located?**
RHO Treasury's principal office is in New York, NY, according to its Form ADV.

**Is RHO Treasury registered with the SEC or a state?**
RHO Treasury is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 314581.

**How much does RHO Treasury manage?**
RHO Treasury reports $1,892,904,589 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have RHO Treasury's assets and staff changed since 2022?**
In the Form ADV data for RHO Treasury: Regulatory assets under management: $41,138,508 in the October 2022 data and $1,892,904,589 in the October 2026 data, up 4501%. Total employees: 5 in October 2022 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does RHO Treasury serve?**
By number of clients on Form ADV Item 5.D: corporations or other businesses not listed above (1,071); charitable organizations (7).

**Which custodians does RHO Treasury use?**
RHO Treasury's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Apex Clearing Corporation and Interactive Brokers LLC as custodians holding 10% or more of its separately managed account assets.

**Does RHO Treasury 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/314581

**Does RHO Treasury state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "The minimum investment required to open and maintain an account is negotiable, but generally is $50,000."

**What changed in RHO Treasury's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $704,190,866 to $1,892,904,589 (+169%). 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 25, 2026)

- Account minimum: $50,000 (the brochure says it may be waived or negotiated)

> The minimum investment required to open and maintain an account is negotiable, but generally is $50,000.

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

### Custodians (Schedule D, Section 5.K(3))
- Apex Clearing Corporation
- Interactive Brokers 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: $1,892,904,589
- Discretionary: $1,892,904,589
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 7 | $6,416,627 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 1,071 | $1,886,487,962 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2022 (4 years)
- Employees: 4 total, 1 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- rho.co/treasury

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $41,138,508 | 5 | September 25, 2022 |
| October 2023 | $181,958,269 | 4 | July 13, 2023 |
| October 2024 | $279,480,686 | 2 | September 30, 2024 |
| October 2025 | $704,190,866 | 2 | May 23, 2025 |
| October 2026 | $1,892,904,589 | 4 | March 25, 2026 |

Regulatory assets under management: $41,138,508 in the October 2022 data and $1,892,904,589 in the October 2026 data, up 4501%.
Total employees: 5 in October 2022 and 4 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $704,190,866 to $1,892,904,589 (+169%).
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. RHO Treasury (CRD 314581): Form ADV filing data as of October 2026.