{ "crd_number": 161109, "slug": "sbb-research-group-llc-northbrook-il-161109", "primary_business_name": "SBB RESEARCH GROUP LLC", "legal_name": "SBB RESEARCH GROUP LLC", "dbas": [], "city": "Northbrook", "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": "2014-04-23", "years_registered": 12, "period": "2026-10-01", "filing_date": "2026-08-05", "carried_forward": false, "raum_total": 3260240863.0, "raum_discretionary": 3230664837.0, "raum_non_discretionary": 29576026.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 28, "advisory_employees": 11, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "other": { "raum": 3644167.0, "count": null, "description": "PROPRIETARY ACCOUNTS", "fewer_than_5": true }, "high_net_worth_individuals": { "raum": 58598883.0, "count": 3 }, "pooled_investment_vehicles": { "raum": 3197997813.0, "count": 7 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_individuals", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 1, "states_registered": [ "IL" ], "websites": [ "https://linkedin.com/COMPANY/SBB-RESEARCH-GROUP", "https://sbbrg.com", "https://x.com/SBBRESEARCH" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161109", "disclosure_items": [ { "item": "11.G", "question": "Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?" } ], "city_as_filed": "NORTHBROOK", "url": "https://advisorcensus.com/firm/sbb-research-group-llc-northbrook-il-161109", "display_name": "SBB Research Group LLC", "summary": "SBB Research Group LLC is an SEC-registered investment advisory firm in Northbrook, IL, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 5, 2026.", "citation": "AdvisorCensus. SBB Research Group LLC (CRD 161109): 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 individuals and/or small businesses", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is SBB Research Group LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), SBB Research Group LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "Where is SBB Research Group LLC located?", "a": "SBB Research Group LLC's principal office is in Northbrook, IL, according to its Form ADV." }, { "q": "Is SBB Research Group LLC registered with the SEC or a state?", "a": "SBB Research Group LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 161109." }, { "q": "How much does SBB Research Group LLC manage?", "a": "SBB Research Group LLC reports $3,260,240,863 in regulatory assets under management in its Form ADV filing dated August 5, 2026 (99% discretionary)." }, { "q": "How have SBB Research Group LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for SBB Research Group LLC: Regulatory assets under management: $531,681,642 in the October 2021 data and $3,260,240,863 in the October 2026 data, up 513%. Total employees: 27 in October 2021 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does SBB Research Group LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7); high net worth individuals (3)." }, { "q": "Which custodians does SBB Research Group LLC use?", "a": "SBB Research Group LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists E*trade Securities LLC, J.P. Morgan Securities LLC and Mesirow Financial, Inc. as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does SBB Research Group LLC report any disciplinary disclosures?", "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.G (pending regulatory proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161109" }, { "q": "What changed in SBB Research Group LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $2,787,637,967 to $3,260,240,863 (+17%)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 531681642.0, "total_employees": 27, "filing_date": "2021-06-25" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1838390193.0, "total_employees": 22, "filing_date": "2022-08-31" }, { "period": "2023-10-01", "regulatory_assets_under_management": 2093574554.0, "total_employees": 23, "filing_date": "2023-05-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2454707023.0, "total_employees": 27, "filing_date": "2024-03-27" }, { "period": "2025-10-01", "regulatory_assets_under_management": 2787637967.0, "total_employees": 27, "filing_date": "2025-07-10" }, { "period": "2026-10-01", "regulatory_assets_under_management": 3260240863.0, "total_employees": 28, "filing_date": "2026-08-05" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $2,787,637,967 to $3,260,240,863 (+17%)." ] }, { "period": "2025-12-01", "period_label": "December 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "E*trade Securities LLC", "name_as_filed": "E*TRADE SECURITIES LLC", "affiliated": false }, { "name": "J.P. Morgan Securities LLC", "name_as_filed": "J.P. MORGAN SECURITIES LLC", "affiliated": false }, { "name": "Mesirow Financial, Inc.", "name_as_filed": "MESIROW FINANCIAL, INC.", "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/sbb-research-group-llc-northbrook-il-161109.md", "clients": [ { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 3, "fewer_than_5": false, "raum": 58598883.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 7, "fewer_than_5": false, "raum": 3197997813.0 }, { "type": "other", "label": "Other", "count": null, "fewer_than_5": true, "raum": 3644167.0 } ], "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.", "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/161109", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }