# Tall Pines Capital, LLC > Tall Pines Capital, LLC is an SEC-registered investment advisory firm in Oak Brook, IL, registered since 2019, reporting under $25 million in regulatory assets under management in its Form ADV filing dated May 5, 2026. - CRD: 286089 - Filed as: TALL PINES CAPITAL, LLC - Registration: SEC-registered investment adviser (status as filed: Approved) - Location: Oak Brook, IL - Filing period: October 2026 - Form ADV filing dated: May 5, 2026 - SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/286089 - AdvisorCensus page: https://advisorcensus.com/firm/tall-pines-capital-llc-oak-brook-il-286089 ## Quick answers **How is Tall Pines Capital, LLC compensated?** On its Form ADV (Item 5.E, October 2026), Tall Pines Capital, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. **Where is Tall Pines Capital, LLC located?** Tall Pines Capital, LLC's principal office is in Oak Brook, IL, according to its Form ADV. **Is Tall Pines Capital, LLC registered with the SEC or a state?** Tall Pines Capital, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 286089. **How much does Tall Pines Capital, LLC manage?** Tall Pines Capital, LLC reports $24,994,894 in regulatory assets under management in its Form ADV filing dated May 5, 2026 (100% discretionary). **How have Tall Pines Capital, LLC's assets and staff changed since 2021?** In the Form ADV data for Tall Pines Capital, LLC: Regulatory assets under management: $12,344,810 in the October 2021 data and $24,994,894 in the October 2026 data, up 102%. 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 Tall Pines Capital, LLC serve?** By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (49); high net worth individuals (14). **Which custodians does Tall Pines Capital, LLC use?** Tall Pines Capital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets. **Does Tall Pines 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/286089 **Does Tall Pines Capital, LLC state an account minimum?** Its Form ADV Part 2A brochure dated May 5, 2026 says: "Tall Pines generally requires a minimum account size of $100,000, which is subject to negotiation at the sole discretion of Tall Pines." **What changed in Tall Pines Capital, LLC's recent Form ADV filings?** In the March 2026 filing data: Regulatory assets under management went from $30,037,535 to $24,994,894 (-17%). ## 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 May 5, 2026) - Account minimum: $100,000 (the brochure says it may be waived or negotiated) > Tall Pines generally requires a minimum account size of $100,000, which is subject to negotiation at the sole discretion of Tall Pines. As stated in the firm's brochure. Fees can differ by service and may be negotiable. ### Custodians (Schedule D, Section 5.K(3)) - Charles Schwab & Co., Inc. 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: $24,994,894 - Discretionary: $24,994,894 - Non-discretionary: $0 ### Clients (Item 5.D) | Client type | Clients | Assets | | --- | --- | --- | | Individuals (other than high net worth individuals) | 49 | $13,365,671 | | High net worth individuals | 14 | $11,629,223 | | 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 | 0 | $0 | | Other | 0 | $0 | ### Advisory services (Item 5.G) - Portfolio management for individuals and/or small businesses ### Firm details - Registered since: 2019 (7 years) - Employees: 2 total, 1 performing advisory functions - Wrap fee program participation: Yes - States registered or notice-filed: IL, KY, PA, TX - Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11. ### Websites listed on Form ADV (Item 1.I) - tallpinescap.com - LinkedIn @chris-plahm-cfp®-8273773 - X @tallpinescap ## Assets and staff over time | Data period | Regulatory assets under management | Employees | Filing dated | | --- | --- | --- | --- | | October 2021 | $12,344,810 | 2 | April 29, 2021 | | October 2022 | $19,514,074 | 2 | June 1, 2022 | | October 2023 | $18,796,773 | 2 | April 28, 2023 | | October 2024 | $17,436,780 | 2 | May 28, 2024 | | October 2025 | $30,037,535 | 2 | March 14, 2025 | | October 2026 | $24,994,894 | 2 | May 5, 2026 | Regulatory assets under management: $12,344,810 in the October 2021 data and $24,994,894 in the October 2026 data, up 102%. 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 $30,037,535 to $24,994,894 (-17%). ## Source Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Tall Pines Capital, LLC (CRD 286089): Form ADV filing data as of October 2026.