# Sun Mountain Capital Advisors, LLC

> Sun Mountain Capital Advisors, LLC is an SEC-registered investment advisory firm in Santa Fe, NM, registered since 2011, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 151477
- Filed as: SUN MOUNTAIN CAPITAL ADVISORS, LLC
- Also doing business as: SUN MOUNTAIN CAPITAL LLC (RELYING ADVISER)
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Santa Fe, NM
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/151477
- AdvisorCensus page: https://advisorcensus.com/firm/sun-mountain-capital-advisors-llc-santa-fe-nm-151477

## Quick answers

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

**How much does Sun Mountain Capital Advisors, LLC charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Asset-based fee: 1% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Sun Mountain Capital Advisors, LLC located?**
Sun Mountain Capital Advisors, LLC's principal office is in Santa Fe, NM, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Sun Mountain Capital Advisors, LLC registered with the SEC or a state?**
Sun Mountain Capital Advisors, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 151477.

**How much does Sun Mountain Capital Advisors, LLC manage?**
Sun Mountain Capital Advisors, LLC reports $378,687,028 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (100% discretionary).

**How have Sun Mountain Capital Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for Sun Mountain Capital Advisors, LLC: Regulatory assets under management: $695,230,974 in the October 2021 data and $378,687,028 in the October 2026 data, down 46%. Total employees: 11 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sun Mountain Capital Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9).

**Does Sun Mountain Capital Advisors, 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/151477

**What changed in Sun Mountain Capital Advisors, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 5. Regulatory assets under management went from $479,032,652 to $378,687,028 (-21%). 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
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Asset-based fee: 1% to 2% a year (a range, as the brochure states it)

> Annual management fees typically range from 1% to 2% of aggregate capital commitments or the cost basis of underlying investments.

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

### Regulatory assets under management (Item 5.F)
- Total: $378,687,028
- Discretionary: $378,687,028
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $378,687,028 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2011 (15 years)
- Employees: 7 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NM, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Col. Napoles

### Websites listed on Form ADV (Item 1.I)
- [sunmountaincapital.com](https://sunmountaincapital.com)
- LinkedIn @sun-mountain-capital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $695,230,974 | 11 | March 22, 2021 |
| October 2022 | $738,746,259 | 11 | August 18, 2022 |
| October 2023 | $720,963,790 | 9 | March 23, 2023 |
| October 2024 | $599,019,302 | 9 | June 18, 2024 |
| October 2025 | $479,032,652 | 8 | March 26, 2025 |
| October 2026 | $378,687,028 | 7 | March 25, 2026 |

Regulatory assets under management: $695,230,974 in the October 2021 data and $378,687,028 in the October 2026 data, down 46%.
Total employees: 11 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 5.
- Regulatory assets under management went from $479,032,652 to $378,687,028 (-21%).
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

### January 2026
- No longer registered or notice-filed in WI.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sun Mountain Capital Advisors, LLC (CRD 151477): Form ADV filing data as of October 2026.