# Shellman Investment Management, LLC

> 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.

- CRD: 316579
- Filed as: SHELLMAN INVESTMENT MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Coral Gables, FL
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/316579
- AdvisorCensus page: https://advisorcensus.com/firm/shellman-investment-management-llc-coral-gables-fl-316579

## Quick answers

**How is Shellman Investment Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Shellman Investment Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**How much does Shellman Investment Management, LLC charge?**
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.

**Where is Shellman Investment Management, LLC located?**
Shellman Investment Management, LLC's principal office is in Coral Gables, FL, according to its Form ADV.

**Is Shellman Investment Management, LLC registered with the SEC or a state?**
Shellman Investment Management, LLC is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 316579.

**How much does Shellman Investment Management, LLC manage?**
Shellman Investment Management, LLC reports $209,606,890 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Shellman Investment Management, LLC's assets and staff changed since 2022?**
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.

**What types of clients does Shellman Investment Management, LLC serve?**
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).

**Which custodians does Shellman Investment Management, LLC use?**
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.

**Does Shellman Investment Management, 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/316579

**Does Shellman Investment Management, LLC state an account minimum?**
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."

**What changed in Shellman Investment Management, LLC's recent Form ADV filings?**
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%).

## 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 March 24, 2026)

- 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

> 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%

- Account minimum: $100,000 (the brochure says it may be waived or negotiated)

> Generally, we require a minimum of $100,000 to establish an advisory relationship. At our sole discretion we may waive this requirement.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Morgan Stanley & Co. LLC
- Pershing LLC (affiliated with the firm)

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: $209,606,890
- Discretionary: $209,606,890
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 40 | $36,708,956 |
| High net worth individuals | 93 | $148,108,074 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| 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 | 0 | $0 |
| 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 | 1 | $24,789,860 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2022 (3 years)
- Employees: 4 total, 3 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)
- shellmaninvest.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $0 | 2 | July 6, 2022 |
| October 2023 | $144,702,150 | 3 | April 3, 2023 |
| October 2024 | $139,445,177 | 3 | June 24, 2024 |
| October 2025 | $157,298,501 | 4 | March 20, 2025 |
| October 2026 | $209,606,890 | 4 | March 24, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 2 to 3.
- Regulatory assets under management went from $157,298,501 to $209,606,890 (+33%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Shellman Investment Management, LLC (CRD 316579): Form ADV filing data as of October 2026.