# Truffle Hound Capital, LLC

> Truffle Hound Capital, LLC is an SEC-registered investment advisory firm in Bethesda, MD, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 23, 2026.

- CRD: 137616
- Filed as: TRUFFLE HOUND CAPITAL, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bethesda, MD
- Filing period: October 2026
- Form ADV filing dated: March 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/137616
- AdvisorCensus page: https://advisorcensus.com/firm/truffle-hound-capital-llc-bethesda-md-137616

## Quick answers

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

**Where is Truffle Hound Capital, LLC located?**
Truffle Hound Capital, LLC's principal office is in Bethesda, MD, according to its Form ADV.

**Is Truffle Hound Capital, LLC registered with the SEC or a state?**
Truffle Hound Capital, LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 137616.

**How much does Truffle Hound Capital, LLC manage?**
Truffle Hound Capital, LLC reports $679,964,152 in regulatory assets under management in its Form ADV filing dated March 23, 2026 (100% discretionary).

**How have Truffle Hound Capital, LLC's assets and staff changed since 2021?**
In the Form ADV data for Truffle Hound Capital, LLC: Regulatory assets under management: $376,063,484 in the October 2021 data and $679,964,152 in the October 2026 data, up 81%. Total employees: 5 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 Truffle Hound Capital, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (1).

**Does Truffle Hound 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/137616

**Does Truffle Hound Capital, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 23, 2026 says: "The minimum initial amount that may be invested in the Fund is $2,000,000, although the Firm reserves the right to increase the minimum or to accept lesser amounts in its sole discretion."

**What changed in Truffle Hound Capital, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $541,476,513 to $679,964,152 (+26%).

## 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 23, 2026)

- Account minimum: $2,000,000 (the brochure says it may be waived or negotiated)

> The minimum initial amount that may be invested in the Fund is $2,000,000, although the Firm reserves the right to increase the minimum or to accept lesser amounts in its sole discretion.

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

### Regulatory assets under management (Item 5.F)
- Total: $679,964,152
- Discretionary: $679,964,152
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $679,964,152 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MD
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- trufflehound.com
- LinkedIn @truffle-hound-capital
- X @THValue
- X @TruffleHoundCap

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $376,063,484 | 5 | March 22, 2021 |
| October 2022 | $475,853,847 | 5 | March 29, 2022 |
| October 2023 | $534,976,813 | 5 | March 29, 2023 |
| October 2024 | $551,221,794 | 7 | March 28, 2024 |
| October 2025 | $541,476,513 | 7 | April 2, 2025 |
| October 2026 | $679,964,152 | 7 | March 23, 2026 |

Regulatory assets under management: $376,063,484 in the October 2021 data and $679,964,152 in the October 2026 data, up 81%.
Total employees: 5 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $541,476,513 to $679,964,152 (+26%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Truffle Hound Capital, LLC (CRD 137616): Form ADV filing data as of October 2026.