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Asset manager · Montpelier, VT

NLG Capital LLC

SEC-registered investment adviser · CRD 109396 · SEC 801-57721

At a glance

NLG Capital LLC is an SEC-registered investment adviser based in Montpelier, Vermont, with $46.5 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is insurance companies. By Form ADV it is a asset manager, ranked 217th of 3,218 asset managers and 460th of 17,210 SEC-registered advisers by assets.

Main office 802-229-3773LinkedInAs filed on Form ADV

Regulatory AUM
$47B
Rank among asset managers
#217 of 3,218
Rank among all SEC RIAs
#460 of 17,210
Rank in Vermont
#1 of 33
Clients
10
Accounts
10
Discretionary
100% of AUM
Employees
54
Advisory staff
48
Offices
3

Owners and executives on its Form ADV

Custody and brokerage

Custodian

  1. J.P. Morgan$39B

Other RIAs using J.P. Morgan

Broker-dealer

Hybrid RIA

NLG Capital LLC is a hybrid RIA: 1 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Equity Services, Inc..

Other hybrid RIAs

Who it serves

Client typeClientsRegulatory AUMShare
Insurance companies6$46B99%
Pension and profit sharing plans1$319M<1%
Corporations or other businesses2$33M<1%
Charitable organizations1$24M<1%

Disciplinary disclosures

NLG Capital LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗

Services

  • Portfolio management for businesses and institutions
  • Selecting other advisers

How it’s paid

  • A percentage of assets under management
  • Performance-based fees
  • Other

Form ADV and brochures on the SEC’s adviser search ↗

AtlasMembers

The full record on NLG Capital LLC

Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.

Assets, accounts, clients and staff, ten years of filings
Locked
Growth over one, three and five years
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Rank against 309 peers of its type and size
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Owners and executives, with titles and stakes
7 namedLocked
Main office, fax and compliance officer
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Filing changes this year, with alerts
4Locked
Open Atlas free

Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.

Background

Questions

How much does NLG Capital LLC manage?

NLG Capital LLC reports $46.5 billion in regulatory assets under management across 10 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 30, 2026.

What kind of firm is NLG Capital LLC?

NLG Capital LLC is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.

Who are NLG Capital LLC’s clients?

By assets, its largest client types are insurance companies ($46.2 billion, 6 clients); pension and profit sharing plans ($319 million, 1 clients); corporations or other businesses ($33 million, 2 clients).

Does NLG Capital LLC have any disciplinary history?

NLG Capital LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.

Where these numbers come from

Every figure is NLG Capital 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 (2026-03-30), 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 →