# Sky-Mountain Capital Management

> Sky-Mountain Capital Management is an SEC-registered investment advisory firm in Ketchum, ID, registered since 2021, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 26, 2026.

- CRD: 312915
- Filed as: SKY-MOUNTAIN CAPITAL MANAGEMENT
- Legal name: Sky-Mountain Capital Management, Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Ketchum, ID
- Filing period: October 2026
- Form ADV filing dated: February 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/312915
- AdvisorCensus page: https://advisorcensus.com/firm/sky-mountain-capital-management-ketchum-id-312915

## Quick answers

**How is Sky-Mountain Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Sky-Mountain Capital Management reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**Where is Sky-Mountain Capital Management located?**
Sky-Mountain Capital Management's principal office is in Ketchum, ID, according to its Form ADV.

**Is Sky-Mountain Capital Management registered with the SEC or a state?**
Sky-Mountain Capital Management is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 312915.

**How much does Sky-Mountain Capital Management manage?**
Sky-Mountain Capital Management reports $210,568,182 in regulatory assets under management in its Form ADV filing dated February 26, 2026 (98% discretionary).

**How have Sky-Mountain Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Sky-Mountain Capital Management: Regulatory assets under management: $105,700,000 in the October 2021 data and $210,568,182 in the October 2026 data, up 99%. Total employees: 2 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sky-Mountain Capital Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (87); high net worth individuals (54).

**Which custodians does Sky-Mountain Capital Management use?**
Sky-Mountain Capital Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Sky-Mountain Capital Management 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/312915

**Does Sky-Mountain Capital Management state an account minimum?**
Its Form ADV Part 2A brochure dated February 26, 2026 says: "Sky-Mountain Capital Management does not have an account minimum. However, we may decline to accept clients with smaller portfolios."

**What changed in Sky-Mountain Capital Management's recent Form ADV filings?**
In the March 2026 filing data: Regulatory assets under management went from $188,839,159 to $210,568,182 (+12%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges

### Fees and minimums (Form ADV Part 2A brochure dated February 26, 2026)

- Account minimum: None

> Sky-Mountain Capital Management does not have an account minimum. However, we may decline to accept clients with smaller portfolios.

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

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services LLC

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: $210,568,182
- Discretionary: $207,156,137
- Non-discretionary: $3,412,045

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 87 | $58,441,648 |
| High net worth individuals | 54 | $152,126,534 |
| 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 | Not reported |
| 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 | 0 | $0 |

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

### Firm details
- Registered since: 2021 (5 years)
- Employees: 2 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: ID, OR, TX, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $105,700,000 | 2 | July 2, 2021 |
| October 2022 | $131,597,000 | 2 | March 2, 2022 |
| October 2023 | $131,317,200 | 2 | February 15, 2023 |
| October 2024 | $148,256,000 | 2 | February 13, 2024 |
| October 2025 | $188,839,159 | 2 | February 20, 2025 |
| October 2026 | $210,568,182 | 2 | February 26, 2026 |

Regulatory assets under management: $105,700,000 in the October 2021 data and $210,568,182 in the October 2026 data, up 99%.
Total employees: 2 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### March 2026
- Regulatory assets under management went from $188,839,159 to $210,568,182 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sky-Mountain Capital Management (CRD 312915): Form ADV filing data as of October 2026.