{
  "crd_number": 316579,
  "slug": "shellman-investment-management-llc-coral-gables-fl-316579",
  "primary_business_name": "SHELLMAN INVESTMENT MANAGEMENT, LLC",
  "legal_name": "SHELLMAN INVESTMENT MANAGEMENT, LLC",
  "dbas": [],
  "city": "Coral Gables",
  "state": "FL",
  "country": "United States",
  "cbsa_code": "33100",
  "metro": {
    "cbsa_code": "33100",
    "common_name": "Miami",
    "msa_name": "Miami-Fort Lauderdale-West Palm Beach, FL",
    "path": "/advisors/fl/miami"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-11-25",
  "years_registered": 3,
  "period": "2026-10-01",
  "filing_date": "2026-03-24",
  "carried_forward": false,
  "raum_total": 209606890.0,
  "raum_discretionary": 209606890.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 4,
  "advisory_employees": 3,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 36708956.0,
      "count": 40
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 148108074.0,
      "count": 93
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 24789860.0,
      "count": 1
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL"
  ],
  "websites": [
    "https://shellmaninvest.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/316579",
  "city_as_filed": "CORAL GABLES",
  "url": "https://advisorcensus.com/firm/shellman-investment-management-llc-coral-gables-fl-316579",
  "display_name": "Shellman Investment Management, LLC",
  "summary": "Shellman Investment Management, LLC is an SEC-registered investment advisory firm in Coral Gables, FL, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 24, 2026.",
  "citation": "AdvisorCensus. Shellman Investment Management, LLC (CRD 316579): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Shellman Investment Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Shellman Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "How much does Shellman Investment Management, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated March 24, 2026 states: Up to $1,000,000: 1.22% a year; $1,000,000 to $2,000,000: 0.98% a year; $2,000,000 to $3,000,000: 0.74% a year; Above $3,000,000: 0.5% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Shellman Investment Management, LLC located?",
      "a": "Shellman Investment Management, LLC's principal office is in Coral Gables, FL, according to its Form ADV."
    },
    {
      "q": "Is Shellman Investment Management, LLC registered with the SEC or a state?",
      "a": "Shellman Investment Management, LLC is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 316579."
    },
    {
      "q": "How much does Shellman Investment Management, LLC manage?",
      "a": "Shellman Investment Management, LLC reports $209,606,890 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary)."
    },
    {
      "q": "How have Shellman Investment Management, LLC's assets and staff changed since 2022?",
      "a": "In the Form ADV data for Shellman Investment Management, LLC: Regulatory assets under management: $0 in the October 2022 data and $209,606,890 in the October 2026 data. Total employees: 2 in October 2022 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Shellman Investment Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (93); individuals (other than high net worth individuals) (40); corporations or other businesses not listed above (1)."
    },
    {
      "q": "Which custodians does Shellman Investment Management, LLC use?",
      "a": "Shellman Investment Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. LLC and Pershing LLC (affiliated with the firm) as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Shellman Investment Management, LLC report any disciplinary disclosures?",
      "a": "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/316579"
    },
    {
      "q": "Does Shellman Investment Management, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 24, 2026 says: \"Generally, we require a minimum of $100,000 to establish an advisory relationship. At our sole discretion we may waive this requirement.\""
    },
    {
      "q": "What changed in Shellman Investment Management, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 2 to 3. Regulatory assets under management went from $157,298,501 to $209,606,890 (+33%)."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 2,
      "filing_date": "2022-07-06"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 144702150.0,
      "total_employees": 3,
      "filing_date": "2023-04-03"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 139445177.0,
      "total_employees": 3,
      "filing_date": "2024-06-24"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 157298501.0,
      "total_employees": 4,
      "filing_date": "2025-03-20"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 209606890.0,
      "total_employees": 4,
      "filing_date": "2026-03-24"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 2 to 3.",
        "Regulatory assets under management went from $157,298,501 to $209,606,890 (+33%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 24, 2026",
    "provided_by_the_firm": false,
    "tiers": [
      {
        "band": "Up to $1,000,000",
        "rate": "1.22%"
      },
      {
        "band": "$1,000,000 to $2,000,000",
        "rate": "0.98%"
      },
      {
        "band": "$2,000,000 to $3,000,000",
        "rate": "0.74%"
      },
      {
        "band": "Above $3,000,000",
        "rate": "0.5%"
      }
    ],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$100,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Fee schedule",
        "statements": [
          "Up to $1,000,000: 1.22% a year",
          "$1,000,000 to $2,000,000: 0.98% a year",
          "$2,000,000 to $3,000,000: 0.74% a year",
          "Above $3,000,000: 0.5% a year"
        ],
        "quotes": [
          "For portfolio management services, Shellman Invest charges an annual fee based on a percentage of assets under management. Fees are based on the following fee schedule: Assets Under Management (in US Dollars) Annual Advisory Fee First $1 million 1.2200% Next $1 million 0.98% Next $1 million 0.74% Over $3 million 0.5%"
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $100,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Generally, we require a minimum of $100,000 to establish an advisory relationship. At our sole discretion we may waive this requirement."
        ]
      }
    ],
    "values": {
      "tiers": [
        {
          "min": 0.0,
          "max": 1000000.0,
          "rate_pct": 1.22
        },
        {
          "min": 1000000.0,
          "max": 2000000.0,
          "rate_pct": 0.98
        },
        {
          "min": 2000000.0,
          "max": 3000000.0,
          "rate_pct": 0.74
        },
        {
          "min": 3000000.0,
          "max": null,
          "rate_pct": 0.5
        }
      ],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 100000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "For portfolio management services, Shellman Invest charges an annual fee based on a percentage of assets under management. Fees are based on the following fee schedule: Assets Under Management (in US Dollars) Annual Advisory Fee First $1 million 1.2200% Next $1 million 0.98% Next $1 million 0.74% Over $3 million 0.5%",
      "Generally, we require a minimum of $100,000 to establish an advisory relationship. At our sole discretion we may waive this requirement."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Morgan Stanley & Co. LLC",
      "name_as_filed": "MORGAN STANLEY & CO. LLC",
      "affiliated": false
    },
    {
      "name": "Pershing LLC",
      "name_as_filed": "PERSHING LLC",
      "affiliated": true
    }
  ],
  "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/shellman-investment-management-llc-coral-gables-fl-316579.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 40,
      "fewer_than_5": false,
      "raum": 36708956.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 93,
      "fewer_than_5": false,
      "raum": 148108074.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "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": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "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": 1,
      "fewer_than_5": false,
      "raum": 24789860.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "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/316579",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}