# Sonen Capital LLC

> Sonen Capital LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2011, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 6, 2026.

- CRD: 159461
- Filed as: SONEN CAPITAL LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: May 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/159461
- AdvisorCensus page: https://advisorcensus.com/firm/sonen-capital-llc-san-francisco-ca-159461

## Quick answers

**How is Sonen Capital LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Sonen Capital LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**Where is Sonen Capital LLC located?**
Sonen Capital LLC's principal office is in San Francisco, CA, according to its Form ADV.

**Is Sonen Capital LLC registered with the SEC or a state?**
Sonen Capital LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 159461.

**How much does Sonen Capital LLC manage?**
Sonen Capital LLC reports $1,136,785,878 in regulatory assets under management in its Form ADV filing dated May 6, 2026 (45% discretionary).

**How have Sonen Capital LLC's assets and staff changed since 2021?**
In the Form ADV data for Sonen Capital LLC: Regulatory assets under management: $481,204,566 in the October 2021 data and $1,136,785,878 in the October 2026 data, up 136%. Total employees: 11 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sonen Capital LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (27); charitable organizations (9); pooled investment vehicles (other than investment companies and business development companies) (4).

**Which custodians does Sonen Capital LLC use?**
Sonen Capital LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC and Wells Fargo Securities, LLC as custodians holding 10% or more of its separately managed account assets.

**Does Sonen Capital 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/159461

**Does Sonen Capital LLC state an account minimum?**
Its Form ADV Part 2A brochure dated May 6, 2026 says: "The Advisor’s cumulative minimum account requirement for opening and maintaining an account is $10 million. However, the Advisor may, at its sole discretion, accept accounts with a lower value."

**What changed in Sonen Capital LLC's recent Form ADV filings?**
In the May 2026 filing data: Regulatory assets under management went from $1,018,594,135 to $1,136,785,878 (+12%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated May 6, 2026)

- Account minimum: $10,000,000 (the brochure says it may be waived or negotiated)

> The Advisor’s cumulative minimum account requirement for opening and maintaining an account is $10 million. However, the Advisor may, at its sole discretion, accept accounts with a lower value.

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
- Wells Fargo Securities, 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: $1,136,785,878
- Discretionary: $507,831,993
- Non-discretionary: $628,953,885

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 27 | $432,882,377 |
| 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) | 4 | $164,857,729 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 9 | $539,045,772 |
| 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 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- 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
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2011 (14 years)
- Employees: 19 total, 12 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- sonencapital.com
- LinkedIn @SONEN-CAPITAL
- X @SONENCAPITAL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $481,204,566 | 11 | May 20, 2021 |
| October 2022 | $568,576,942 | 12 | September 15, 2022 |
| October 2023 | $843,328,265 | 14 | March 31, 2023 |
| October 2024 | $792,726,757 | 19 | May 21, 2024 |
| October 2025 | $1,009,760,931 | 20 | March 25, 2025 |
| October 2026 | $1,136,785,878 | 19 | May 6, 2026 |

Regulatory assets under management: $481,204,566 in the October 2021 data and $1,136,785,878 in the October 2026 data, up 136%.
Total employees: 11 in October 2021 and 19 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Regulatory assets under management went from $1,018,594,135 to $1,136,785,878 (+12%).
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 13 to 12.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sonen Capital LLC (CRD 159461): Form ADV filing data as of October 2026.