# Townsquare Capital, LLC

> Townsquare Capital, LLC is an SEC-registered investment advisory firm in Lehi, UT, registered since 2017, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 288576
- Filed as: TOWNSQUARE CAPITAL, LLC
- Also doing business as: ORION OCIO
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Lehi, UT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/288576
- AdvisorCensus page: https://advisorcensus.com/firm/townsquare-capital-llc-lehi-ut-288576

## Quick answers

**How is Townsquare Capital, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Townsquare Capital, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Townsquare Capital, LLC located?**
Townsquare Capital, LLC's principal office is in Lehi, UT, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Townsquare Capital, LLC registered with the SEC or a state?**
Townsquare Capital, LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 288576.

**How much does Townsquare Capital, LLC manage?**
Townsquare Capital, LLC reports $18,072,280,303 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Townsquare Capital, LLC's assets and staff changed since 2021?**
In the Form ADV data for Townsquare Capital, LLC: Regulatory assets under management: $3,609,502,524 in the October 2021 data and $18,072,280,303 in the October 2026 data, up 401%. Total employees: 90 in October 2021 and 53 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Townsquare Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: other investment advisers (76); individuals (other than high net worth individuals) (18); pooled investment vehicles (other than investment companies and business development companies) (2).

**Which custodians does Townsquare Capital, LLC use?**
Townsquare Capital, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Townsquare 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/288576

**What changed in Townsquare Capital, LLC's recent Form ADV filings?**
In the April 2026 filing data: Added the business name Orion Ocio. Employees performing advisory functions went from 8 to 17. Regulatory assets under management went from $14,989,060,522 to $18,072,280,303 (+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
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC

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: $18,072,280,303
- Discretionary: $18,072,280,303
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 18 | $3,302,192 |
| High net worth individuals | Fewer than 5 | $24,967,150 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $18,691,881 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| Other investment advisers | 76 | $18,024,991,498 |
| Corporations or other businesses not listed above | Fewer than 5 | $327,582 |

### 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
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Other

### Firm details
- Registered since: 2017 (9 years)
- Employees: 53 total, 17 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- 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
- Idaho Falls, ID

### Websites listed on Form ADV (Item 1.I)
- [orion.com/OCIO](https://orion.com/OCIO)
- [townsquarecapital.com](https://townsquarecapital.com)
- Instagram @orionwealthtech
- LinkedIn @orionwealthtech
- X @orionwealthtech

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,609,502,524 | 90 | June 10, 2021 |
| October 2022 | $6,016,244,124 | 84 | September 13, 2022 |
| October 2023 | $6,250,778,068 | 89 | August 10, 2023 |
| October 2024 | $8,777,551,735 | 17 | September 24, 2024 |
| October 2025 | $14,989,060,522 | 25 | July 22, 2025 |
| October 2026 | $18,072,280,303 | 53 | March 31, 2026 |

Regulatory assets under management: $3,609,502,524 in the October 2021 data and $18,072,280,303 in the October 2026 data, up 401%.
Total employees: 90 in October 2021 and 53 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Added the business name Orion Ocio.
- Employees performing advisory functions went from 8 to 17.
- Regulatory assets under management went from $14,989,060,522 to $18,072,280,303 (+21%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Townsquare Capital, LLC (CRD 288576): Form ADV filing data as of October 2026.