# Running Oak Capital LLC > Running Oak Capital LLC is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 2017, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 12, 2026. - CRD: 286656 - Filed as: RUNNING OAK CAPITAL LLC - Also doing business as: FREE WORLD INVESTMENT - Registration: SEC-registered investment adviser (status as filed: Approved) - Location: Minneapolis, MN - Filing period: October 2026 - Form ADV filing dated: August 12, 2026 - SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/286656 - AdvisorCensus page: https://advisorcensus.com/firm/running-oak-capital-llc-minneapolis-mn-286656 ## Quick answers **How is Running Oak Capital LLC compensated?** On its Form ADV (Item 5.E, October 2026), Running Oak Capital LLC reports these compensation arrangements: a percentage of assets under its management. **Where is Running Oak Capital LLC located?** Running Oak Capital LLC's principal office is in Minneapolis, MN, according to its Form ADV. **Is Running Oak Capital LLC registered with the SEC or a state?** Running Oak Capital LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 286656. **How much does Running Oak Capital LLC manage?** Running Oak Capital LLC reports $874,740,150 in regulatory assets under management in its Form ADV filing dated August 12, 2026 (97% discretionary). **How have Running Oak Capital LLC's assets and staff changed since 2021?** In the Form ADV data for Running Oak Capital LLC: Regulatory assets under management: $344,000,000 in the October 2021 data and $874,740,150 in the October 2026 data, up 154%. Total employees: 1 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going. **What types of clients does Running Oak Capital LLC serve?** By number of clients on Form ADV Item 5.D: high net worth individuals (1,017); charitable organizations (10); corporations or other businesses not listed above (7). **Which custodians does Running Oak Capital LLC use?** Running Oak Capital LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets. **Does Running Oak 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/286656 **Does Running Oak Capital LLC state an account minimum?** Its Form ADV Part 2A brochure dated August 12, 2026 says: "There is no minimum account amount for ROCL’s separately managed account services." **What changed in Running Oak Capital LLC's recent Form ADV filings?** In the September 2026 filing data: 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 August 12, 2026) - Account minimum: None > There is no minimum account amount for ROCL’s separately managed account services. 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. - 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: $874,740,150 - Discretionary: $844,508,653 - Non-discretionary: $30,231,497 ### Clients (Item 5.D) | Client type | Clients | Assets | | --- | --- | --- | | Individuals (other than high net worth individuals) | 0 | $0 | | High net worth individuals | 1,017 | $450,242,047 | | Banking or thrift institutions | 0 | $0 | | Investment companies | 1 | $367,970,704 | | 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) | 0 | $0 | | Charitable organizations | 10 | $8,457,212 | | 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 | 7 | $48,070,187 | | Other | 0 | $0 | ### Advisory services (Item 5.G) - Portfolio management for individuals and/or small businesses - Portfolio management for investment companies (and business development companies) ### Firm details - Registered since: 2017 (9 years) - Employees: 3 total, 2 performing advisory functions - Wrap fee program participation: Yes - States registered or notice-filed: CA, FL, IL, ME, MN, NJ, NY, TX - Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11. ### Websites listed on Form ADV (Item 1.I) - runningoak.com - runningoaketfs.com/index - LinkedIn @running-oak-capital ## Assets and staff over time | Data period | Regulatory assets under management | Employees | Filing dated | | --- | --- | --- | --- | | October 2021 | $344,000,000 | 1 | March 8, 2021 | | October 2022 | $379,400,000 | 2 | September 26, 2022 | | October 2023 | $403,900,000 | 2 | June 7, 2023 | | October 2024 | $533,731,999 | 2 | February 13, 2024 | | October 2025 | $822,755,662 | 2 | March 17, 2025 | | October 2026 | $874,740,150 | 3 | August 12, 2026 | Regulatory assets under management: $344,000,000 in the October 2021 data and $874,740,150 in the October 2026 data, up 154%. Total employees: 1 in October 2021 and 3 in October 2026. ## Changes in the filing (last 12 months) ### September 2026 - Updated its list of owners and control persons (Schedule A). ### August 2026 - Registered or notice-filed in ME. ### June 2026 - Registered or notice-filed in CA. ### January 2026 - No longer registered or notice-filed in CA. ## Source Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Running Oak Capital LLC (CRD 286656): Form ADV filing data as of October 2026.