# Wellspring Capital Advisors, LLC

> Wellspring Capital Advisors, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2004, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 9, 2026.

- CRD: 132698
- Filed as: WELLSPRING CAPITAL ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: April 9, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/132698
- AdvisorCensus page: https://advisorcensus.com/firm/wellspring-capital-advisors-llc-chicago-il-132698

## Quick answers

**How is Wellspring Capital Advisors, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Wellspring Capital Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**Where is Wellspring Capital Advisors, LLC located?**
Wellspring Capital Advisors, LLC's principal office is in Chicago, IL, according to its Form ADV.

**Is Wellspring Capital Advisors, LLC registered with the SEC or a state?**
Wellspring Capital Advisors, LLC is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 132698.

**How much does Wellspring Capital Advisors, LLC manage?**
Wellspring Capital Advisors, LLC reports $5,034,342,250 in regulatory assets under management in its Form ADV filing dated April 9, 2026 (0% discretionary).

**How have Wellspring Capital Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for Wellspring Capital Advisors, LLC: Regulatory assets under management: $4,155,000,000 in the October 2021 data and $5,034,342,250 in the October 2026 data, up 21%. Total employees: 3 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Wellspring Capital Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: insurance companies (14).

**Does Wellspring Capital Advisors, 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/132698

**Does Wellspring Capital Advisors, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated April 9, 2026 says: "While there is no minimum account size there are minimum fees."

**What changed in Wellspring Capital Advisors, LLC's recent Form ADV filings?**
In the May 2026 filing data: Regulatory assets under management went from $4,231,133,460 to $5,034,342,250 (+19%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated April 9, 2026)

- Account minimum: None

> While there is no minimum account size there are minimum fees.

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

### Regulatory assets under management (Item 5.F)
- Total: $5,034,342,250
- Discretionary: $0
- Non-discretionary: $5,034,342,250

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Insurance companies | 14 | $5,034,342,250 |

### Advisory services (Item 5.G)
- Other

### Firm details
- Registered since: 2004 (21 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- wellspringcap.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,155,000,000 | 3 | March 29, 2021 |
| October 2022 | $4,413,000,000 | 3 | May 3, 2022 |
| October 2023 | $3,146,490,000 | 2 | May 1, 2023 |
| October 2024 | $3,717,966,665 | 2 | March 28, 2024 |
| October 2025 | $4,231,133,460 | 2 | March 28, 2025 |
| October 2026 | $5,034,342,250 | 2 | April 9, 2026 |

Regulatory assets under management: $4,155,000,000 in the October 2021 data and $5,034,342,250 in the October 2026 data, up 21%.
Total employees: 3 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Regulatory assets under management went from $4,231,133,460 to $5,034,342,250 (+19%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Wellspring Capital Advisors, LLC (CRD 132698): Form ADV filing data as of October 2026.