# Speece Thorson Capital Group Inc > Speece Thorson Capital Group Inc is an SEC-registered investment advisory firm in Minnetonka, MN, registered since 1992, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 24, 2026. - CRD: 106052 - Filed as: SPEECE THORSON CAPITAL GROUP INC - Also doing business as: ST CAPITAL - Registration: SEC-registered investment adviser (status as filed: Approved) - Location: Minnetonka, MN - Filing period: October 2026 - Form ADV filing dated: March 24, 2026 - SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106052 - AdvisorCensus page: https://advisorcensus.com/firm/speece-thorson-capital-group-inc-minnetonka-mn-106052 ## Quick answers **How is Speece Thorson Capital Group Inc compensated?** On its Form ADV (Item 5.E, October 2026), Speece Thorson Capital Group Inc reports these compensation arrangements: a percentage of assets under its management. **Where is Speece Thorson Capital Group Inc located?** Speece Thorson Capital Group Inc's principal office is in Minnetonka, MN, according to its Form ADV. **Is Speece Thorson Capital Group Inc registered with the SEC or a state?** Speece Thorson Capital Group Inc is an SEC-registered investment advisory firm, registered since 1992. Status as filed: Approved. CRD 106052. **How much does Speece Thorson Capital Group Inc manage?** Speece Thorson Capital Group Inc reports $469,000,000 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary). **How have Speece Thorson Capital Group Inc's assets and staff changed since 2021?** In the Form ADV data for Speece Thorson Capital Group Inc: Regulatory assets under management: $421,000,000 in the October 2021 data and $469,000,000 in the October 2026 data, up 11%. Total employees: 4 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going. **What types of clients does Speece Thorson Capital Group Inc serve?** By number of clients on Form ADV Item 5.D: high net worth individuals (14); charitable organizations (9); individuals (other than high net worth individuals) (3). **Which custodians does Speece Thorson Capital Group Inc use?** Speece Thorson Capital Group Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Co, Trustmark National Bank and US Bank as custodians holding 10% or more of its separately managed account assets. **Does Speece Thorson Capital Group Inc 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/106052 **What changed in Speece Thorson Capital Group Inc's recent Form ADV filings?** In the April 2026 filing data: Regulatory assets under management went from $522,000,000 to $469,000,000 (-10%). ## From the Form ADV filing ### Compensation (Item 5.E) - A percentage of assets under your management ### Custodians (Schedule D, Section 5.K(3)) - Northern Trust Co - Trustmark National Bank - US Bank 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: $469,000,000 - Discretionary: $469,000,000 - Non-discretionary: $0 ### Clients (Item 5.D) | Client type | Clients | Assets | | --- | --- | --- | | Individuals (other than high net worth individuals) | 3 | $13,000,000 | | High net worth individuals | 14 | $116,000,000 | | Pooled investment vehicles (other than investment companies and business development companies) | 1 | $111,000,000 | | Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $119,000,000 | | Charitable organizations | 9 | $106,000,000 | | State or municipal government entities (including government pension plans) | 1 | $4,000,000 | ### 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 ### Firm details - Registered since: 1992 (34 years) - Employees: 4 total, 4 performing advisory functions - Wrap fee program participation: No - States registered or notice-filed: MN, TX - Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11. ### Websites listed on Form ADV (Item 1.I) - stcapital.com - LinkedIn @SPEECE-THORSON-CAPITAL-GROUP-INC- ## Assets and staff over time | Data period | Regulatory assets under management | Employees | Filing dated | | --- | --- | --- | --- | | October 2021 | $421,000,000 | 4 | May 5, 2021 | | October 2022 | $501,000,000 | 4 | March 17, 2022 | | October 2023 | $502,000,000 | 4 | January 31, 2023 | | October 2024 | $504,000,000 | 4 | August 13, 2024 | | October 2025 | $522,000,000 | 4 | February 5, 2025 | | October 2026 | $469,000,000 | 4 | March 24, 2026 | Regulatory assets under management: $421,000,000 in the October 2021 data and $469,000,000 in the October 2026 data, up 11%. Total employees: 4 in October 2021 and 4 in October 2026. ## Changes in the filing (last 12 months) ### April 2026 - Regulatory assets under management went from $522,000,000 to $469,000,000 (-10%). ## Source Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Speece Thorson Capital Group Inc (CRD 106052): Form ADV filing data as of October 2026.