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SEC data October 1, 2026
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SEC data October 1, 2026
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Sign in or start freePrivate fund adviser · Stillwater, MN
SEC-registered investment adviser · CRD 288535 · SEC 801-119109
At a glance
Stillwater Asset Management, LLC is an SEC-registered investment adviser based in Stillwater, Minnesota, with $701 million in regulatory assets under management as of its Form ADV filed July 29, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 2,680th of 4,686 private fund advisers and 6,539th of 17,210 SEC-registered advisers by assets.
Main office 651-571-3910stillwaterasset.comLinkedInAs filed on Form ADV
Stillwater Asset Management, LLC’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 8 | $701M | 100% |
Stillwater Asset Management, LLC reports 3 private funds with $461M in gross assets: private equity funds (Form ADV Item 7.B).
Stillwater Asset Management, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
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Stillwater Asset Management, LLC reports $701 million in regulatory assets under management across 8 accounts, 100% of it on a discretionary basis, on its Form ADV filed July 29, 2026.
Stillwater Asset Management, LLC is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
By assets, its largest client types are pooled investment vehicles ($701 million, 8 clients).
Yes. It reports 3 private funds with $461 million in gross assets, including private equity funds.
Stillwater Asset Management, LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Every figure is Stillwater Asset Management, LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-07-29), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →