# Whale

> Whale is an SEC-registered investment advisory firm in Chicago, IL, registered since 2024, reporting under $25 million in regulatory assets under management in its Form ADV filing dated September 30, 2026.

- CRD: 330063
- Filed as: WHALE
- Legal name: Build Whale, Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: September 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/330063
- AdvisorCensus page: https://advisorcensus.com/firm/whale-chicago-il-330063

## Quick answers

**How is Whale compensated?**
On its Form ADV (Item 5.E, October 2026), Whale 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 Whale located?**
Whale's principal office is in Chicago, IL, according to its Form ADV.

**Is Whale registered with the SEC or a state?**
Whale is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 330063.

**How much does Whale manage?**
Whale reports $2,532,499 in regulatory assets under management in its Form ADV filing dated September 30, 2026 (100% discretionary).

**How have Whale's assets and staff changed since 2024?**
In the Form ADV data for Whale: Regulatory assets under management: $229,407 in the October 2024 data and $2,532,499 in the October 2026 data, up 1004%. Total employees: 1 in October 2024 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Whale serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (3,006).

**Which custodians does Whale use?**
Whale's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Alpaca Securities LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Whale 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/330063

**What changed in Whale's recent Form ADV filings?**
In the October 2026 filing data: Registered or notice-filed in AL, HI, MS, RI.

## 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))
- Alpaca Securities 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: $2,532,499
- Discretionary: $2,532,499
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 3,006 | $2,532,499 |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2024 (2 years)
- Employees: 7 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AR, AZ, CA, CO, DC, FL, GA, HI, IA, IL, IN, KS, KY, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NJ, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- getwhale.co

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $229,407 | 1 | September 16, 2024 |
| October 2025 | $252,394 | 6 | July 2, 2025 |
| October 2026 | $2,532,499 | 7 | September 30, 2026 |

Regulatory assets under management: $229,407 in the October 2024 data and $2,532,499 in the October 2026 data, up 1004%.
Total employees: 1 in October 2024 and 7 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Registered or notice-filed in AL, HI, MS, RI.

### September 2026
- Registered or notice-filed in AR, IA, IN, KS, ME, MI, MN, MO, MT, NE, NV, OK, SC, WI, WV, WY.

### April 2026
- Employees performing advisory functions went from 3 to 2.
- Regulatory assets under management went from $252,394 to $2,532,499 (+903%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Whale (CRD 330063): Form ADV filing data as of October 2026.