{
  "crd_number": 106201,
  "slug": "security-capital-research-and-management-incorporated-chicago-il-106201",
  "primary_business_name": "SECURITY CAPITAL RESEARCH & MANAGEMENT INCORPORATED",
  "legal_name": "SECURITY CAPITAL RESEARCH & MANAGEMENT INCORPORATED",
  "dbas": [],
  "city": "Chicago",
  "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": "1997-02-10",
  "years_registered": 29,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 3302037274.0,
  "raum_discretionary": 3302037274.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 17,
  "advisory_employees": 17,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 28664436.0,
      "count": 5,
      "description": "ENDOWMENTS & FOUNDATIONS"
    },
    "charitable": {
      "raum": 133843723.0,
      "count": 3
    },
    "individuals": {
      "raum": 0.0,
      "count": 0
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 493108001.0,
      "count": 3
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 547110908.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 23837334.0,
      "count": 1
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 128725685.0,
      "count": 37
    },
    "pooled_investment_vehicles": {
      "raum": 1162207368.0,
      "count": 4
    },
    "corporations_other_businesses": {
      "raum": 784539819.0,
      "count": 6
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 8,
  "states_registered": [
    "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"
  ],
  "websites": [
    "https://securitycapital.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106201",
  "disclosure_items": [
    {
      "item": "11.A(1)",
      "question": "In the past ten years, has the firm or an advisory affiliate been convicted of, or pleaded guilty or no contest to, a felony?"
    },
    {
      "item": "11.A(2)",
      "question": "In the past ten years, has the firm or an advisory affiliate been charged with a felony?"
    },
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    }
  ],
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/security-capital-research-and-management-incorporated-chicago-il-106201",
  "display_name": "Security Capital Research & Management Incorporated",
  "summary": "Security Capital Research & Management Incorporated is an SEC-registered investment advisory firm in Chicago, IL, registered since 1997, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Security Capital Research & Management Incorporated (CRD 106201): 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 investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is Security Capital Research & Management Incorporated compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Security Capital Research & Management Incorporated reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Security Capital Research & Management Incorporated located?",
      "a": "Security Capital Research & Management Incorporated's principal office is in Chicago, IL, according to its Form ADV."
    },
    {
      "q": "Is Security Capital Research & Management Incorporated registered with the SEC or a state?",
      "a": "Security Capital Research & Management Incorporated is an SEC-registered investment advisory firm, registered since 1997. Status as filed: Approved. CRD 106201."
    },
    {
      "q": "How much does Security Capital Research & Management Incorporated manage?",
      "a": "Security Capital Research & Management Incorporated reports $3,302,037,274 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have Security Capital Research & Management Incorporated's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Security Capital Research & Management Incorporated: Regulatory assets under management: $4,259,793,384 in the October 2021 data and $3,302,037,274 in the October 2026 data, down 22%. Total employees: 21 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Security Capital Research & Management Incorporated serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (37); corporations or other businesses not listed above (6); other (5)."
    },
    {
      "q": "Which custodians does Security Capital Research & Management Incorporated use?",
      "a": "Security Capital Research & Management Incorporated's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, Northern Trust and State Street as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Security Capital Research & Management Incorporated report any disciplinary disclosures?",
      "a": "Reports 8 disclosure items on Form ADV Item 11: yes answers to 2 questions about criminal matters and 6 questions about regulatory matters (11.A(1), 11.A(2), 11.C(1), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4)). 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/106201"
    },
    {
      "q": "What changed in Security Capital Research & Management Incorporated's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 18 to 17. Regulatory assets under management went from $3,773,836,803 to $3,302,037,274 (-13%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 4259793384.0,
      "total_employees": 21,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 5706548311.0,
      "total_employees": 20,
      "filing_date": "2022-08-24"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 3599840533.0,
      "total_employees": 20,
      "filing_date": "2023-07-20"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 3967990785.0,
      "total_employees": 18,
      "filing_date": "2024-08-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 3773836803.0,
      "total_employees": 18,
      "filing_date": "2025-03-21"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 3302037274.0,
      "total_employees": 17,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 18 to 17.",
        "Regulatory assets under management went from $3,773,836,803 to $3,302,037,274 (-13%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "BNY Mellon",
      "name_as_filed": "BNY MELLON",
      "affiliated": false
    },
    {
      "name": "Northern Trust",
      "name_as_filed": "NORTHERN TRUST",
      "affiliated": false
    },
    {
      "name": "State Street",
      "name_as_filed": "STATE STREET",
      "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/security-capital-research-and-management-incorporated-chicago-il-106201.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 37,
      "fewer_than_5": false,
      "raum": 128725685.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 547110908.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 4,
      "fewer_than_5": false,
      "raum": 1162207368.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 23837334.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 3,
      "fewer_than_5": false,
      "raum": 133843723.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 493108001.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 6,
      "fewer_than_5": false,
      "raum": 784539819.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 5,
      "fewer_than_5": false,
      "raum": 28664436.0
    }
  ],
  "disclosure_line": "Reports 8 disclosure items 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/106201",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}