# Thornburg BOW River Advisers, LLC.

> Thornburg BOW River Advisers, LLC. is an SEC-registered investment advisory firm in Denver, CO, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 28, 2026.

- CRD: 332879
- Filed as: THORNBURG BOW RIVER ADVISERS, LLC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Denver, CO
- Filing period: October 2026
- Form ADV filing dated: August 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/332879
- AdvisorCensus page: https://advisorcensus.com/firm/thornburg-bow-river-advisers-llc-denver-co-332879

## Quick answers

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

**Where is Thornburg BOW River Advisers, LLC. located?**
Thornburg BOW River Advisers, LLC.'s principal office is in Denver, CO, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Thornburg BOW River Advisers, LLC. registered with the SEC or a state?**
Thornburg BOW River Advisers, LLC. is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 332879.

**How much does Thornburg BOW River Advisers, LLC. manage?**
Thornburg BOW River Advisers, LLC. reports $224,165,696 in regulatory assets under management in its Form ADV filing dated August 28, 2026 (100% discretionary).

**How have Thornburg BOW River Advisers, LLC.'s assets and staff changed since 2024?**
In the Form ADV data for Thornburg BOW River Advisers, LLC.: Regulatory assets under management: $231,594,667 in the October 2025 data and $224,165,696 in the October 2026 data, down 3%. Total employees: 18 in October 2024 and 29 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Thornburg BOW River Advisers, LLC. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).

**Does Thornburg BOW River Advisers, LLC. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/332879

**What changed in Thornburg BOW River Advisers, LLC.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 5 to 7. 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

### Regulatory assets under management (Item 5.F)
- Total: $224,165,696
- Discretionary: $224,165,696
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $224,165,696 |

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

### Firm details
- Registered since: 2024 (2 years)
- Employees: 29 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/332879

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Santa Fe, NM

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | Not reported | 18 | August 15, 2024 |
| October 2025 | $231,594,667 | 25 | April 25, 2025 |
| October 2026 | $224,165,696 | 29 | August 28, 2026 |

Regulatory assets under management: $231,594,667 in the October 2025 data and $224,165,696 in the October 2026 data, down 3%.
Total employees: 18 in October 2024 and 29 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 5 to 7.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Thornburg BOW River Advisers, LLC. (CRD 332879): Form ADV filing data as of October 2026.