# San Blas Capital, LLC

> San Blas Capital, LLC is a state-registered investment advisory firm, registered since 2006, reporting under $25 million in regulatory assets under management in its Form ADV filing dated January 27, 2026.

- CRD: 140971
- Filed as: SAN BLAS CAPITAL, LLC
- Registration: State-registered investment adviser (status as filed: APPROVED)
- Location: Registered in Florida
- Filing period: October 2026
- Form ADV filing dated: January 27, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/140971
- AdvisorCensus page: https://advisorcensus.com/firm/san-blas-capital-llc-140971

## Quick answers

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

**Is San Blas Capital, LLC registered with the SEC or a state?**
San Blas Capital, LLC is a state-registered investment advisory firm, registered since 2006. Status as filed: APPROVED. CRD 140971.

**How much does San Blas Capital, LLC manage?**
San Blas Capital, LLC reports $21,876,000 in regulatory assets under management in its Form ADV filing dated January 27, 2026 (88% discretionary).

**What types of clients does San Blas Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (31); high net worth individuals (6).

**Does San Blas 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 public record on IAPD: https://adviserinfo.sec.gov/firm/summary/140971

## 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

### Regulatory assets under management (Item 5.F)
- Total: $21,876,000
- Discretionary: $19,356,000
- Non-discretionary: $2,520,000

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 31 | $9,443,000 |
| High net worth individuals | 6 | $12,433,000 |

### 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

### Firm details
- Registered since: 2006 (20 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- sanblascap.com

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. San Blas Capital, LLC (CRD 140971): Form ADV filing data as of October 2026.