{
  "crd_number": 140212,
  "slug": "turtle-creek-trust-dallas-tx-140212",
  "primary_business_name": "TURTLE CREEK TRUST",
  "legal_name": "TURTLE CREEK MANAGEMENT, LLC",
  "dbas": [
    "TURTLE CREEK TRUST"
  ],
  "city": "Dallas",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "19100",
  "metro": {
    "cbsa_code": "19100",
    "common_name": "Dallas",
    "msa_name": "Dallas-Fort Worth-Arlington, TX",
    "path": "/advisors/tx/dallas"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2006-05-17",
  "years_registered": 20,
  "period": "2026-10-01",
  "filing_date": "2026-03-30",
  "carried_forward": false,
  "raum_total": 4280497349.0,
  "raum_discretionary": 1550328446.0,
  "raum_non_discretionary": 2730168903.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 10,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 37998146.0,
      "count": null,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 1743142.0,
      "count": 5
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": null
    },
    "state_municipal": {
      "raum": 0.0,
      "count": null
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": null
    },
    "investment_companies": {
      "raum": 0.0,
      "count": null
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": null
    },
    "high_net_worth_individuals": {
      "raum": 4239169367.0,
      "count": 96
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": null
    },
    "corporations_other_businesses": {
      "raum": 1586694.0,
      "count": null,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": null
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": null
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "MA",
    "NY",
    "TX"
  ],
  "websites": [
    "https://linkedin.com/company/turtle-creek-management-llc",
    "https://turtlecreekdallas.com",
    "https://turtlecreektrust.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/140212",
  "city_as_filed": "DALLAS",
  "url": "https://advisorcensus.com/firm/turtle-creek-trust-dallas-tx-140212",
  "display_name": "Turtle Creek Trust",
  "summary": "Turtle Creek Trust is an SEC-registered investment advisory firm in Dallas, TX, registered since 2006, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.",
  "citation": "AdvisorCensus. Turtle Creek Trust (CRD 140212): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Turtle Creek Trust compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Turtle Creek Trust reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Turtle Creek Trust located?",
      "a": "Turtle Creek Trust's principal office is in Dallas, TX, according to its Form ADV."
    },
    {
      "q": "Is Turtle Creek Trust registered with the SEC or a state?",
      "a": "Turtle Creek Trust is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 140212."
    },
    {
      "q": "How much does Turtle Creek Trust manage?",
      "a": "Turtle Creek Trust reports $4,280,497,349 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (36% discretionary)."
    },
    {
      "q": "How have Turtle Creek Trust's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Turtle Creek Trust: Regulatory assets under management: $2,637,428,289 in the October 2021 data and $4,280,497,349 in the October 2026 data, up 62%. Total employees: 9 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Turtle Creek Trust serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (96); individuals (other than high net worth individuals) (5)."
    },
    {
      "q": "Which custodians does Turtle Creek Trust use?",
      "a": "Turtle Creek Trust's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Turtle Creek Trust report any disciplinary disclosures?",
      "a": "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/140212"
    },
    {
      "q": "Does Turtle Creek Trust state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"In general, the minimum size for an Account is $1 million, although this may be waived based on considerations such as the Account’s relationship to established clients and other factors.\""
    },
    {
      "q": "What changed in Turtle Creek Trust's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $3,661,746,284 to $4,280,497,349 (+17%). Registered or notice-filed in NY."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 2637428289.0,
      "total_employees": 9,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 3148766830.0,
      "total_employees": 9,
      "filing_date": "2022-06-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 3176442691.0,
      "total_employees": 8,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 3541418573.0,
      "total_employees": 10,
      "filing_date": "2024-04-04"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 3661746284.0,
      "total_employees": 10,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 4280497349.0,
      "total_employees": 10,
      "filing_date": "2026-03-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $3,661,746,284 to $4,280,497,349 (+17%).",
        "Registered or notice-filed in NY."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "In general, the minimum size for an Account is $1 million, although this may be waived based on considerations such as the Account’s relationship to established clients and other factors."
        ]
      }
    ],
    "quotes": [
      "In general, the minimum size for an Account is $1 million, although this may be waived based on considerations such as the Account’s relationship to established clients and other factors."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/turtle-creek-trust-dallas-tx-140212.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 5,
      "fewer_than_5": false,
      "raum": 1743142.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 96,
      "fewer_than_5": false,
      "raum": 4239169367.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": null,
      "fewer_than_5": true,
      "raum": 37998146.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 1586694.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/140212",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}