# Terracap Management LLC

> Terracap Management LLC is an SEC-registered investment advisory firm in Naples, FL, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 1, 2026.

- CRD: 169695
- Filed as: TERRACAP MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Naples, FL
- Filing period: October 2026
- Form ADV filing dated: May 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/169695
- AdvisorCensus page: https://advisorcensus.com/firm/terracap-management-llc-naples-fl-169695

## Quick answers

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

**Where is Terracap Management LLC located?**
Terracap Management LLC's principal office is in Naples, FL, according to its Form ADV; the June 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Terracap Management LLC registered with the SEC or a state?**
Terracap Management LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 169695.

**How much does Terracap Management LLC manage?**
Terracap Management LLC reports $1,439,091,537 in regulatory assets under management in its Form ADV filing dated May 1, 2026 (100% discretionary).

**How have Terracap Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Terracap Management LLC: Regulatory assets under management: $1,223,378,689 in the October 2021 data and $1,439,091,537 in the October 2026 data, up 18%. Total employees: 25 in October 2021 and 21 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Terracap Management LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (11).

**Does Terracap Management 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/169695

**What changed in Terracap Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 15 to 13. Regulatory assets under management went from $1,882,207,274 to $1,439,091,537 (-24%). No longer lists an office in Brookhaven, GA.

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $1,439,091,537
- Discretionary: $1,439,091,537
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 11 | $1,439,091,537 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2014 (12 years)
- Employees: 21 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO, FL, GA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Denver, CO
- Tampa, FL

### Websites listed on Form ADV (Item 1.I)
- terracapmgmt.com
- LinkedIn @terracap-management-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,223,378,689 | 25 | March 31, 2021 |
| October 2022 | $1,951,002,800 | 24 | September 9, 2022 |
| October 2023 | $2,516,176,422 | 24 | March 31, 2023 |
| October 2024 | $2,322,877,683 | 28 | March 22, 2024 |
| October 2025 | $1,882,207,274 | 25 | May 9, 2025 |
| October 2026 | $1,439,091,537 | 21 | May 1, 2026 |

Regulatory assets under management: $1,223,378,689 in the October 2021 data and $1,439,091,537 in the October 2026 data, up 18%.
Total employees: 25 in October 2021 and 21 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 15 to 13.
- Regulatory assets under management went from $1,882,207,274 to $1,439,091,537 (-24%).
- No longer lists an office in Brookhaven, GA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Terracap Management LLC (CRD 169695): Form ADV filing data as of October 2026.