SEC-registered firm
Registration does not mean the SEC approves or recommends the firm, and it does not imply a certain level of skill or training.
Merganser Capital Management, LLC
Boston, MA
CRD 169258
Firm filing updated March 30, 2026 ·
- $17.7BAssets
- 11Advisory staff
- 125Accounts
Fees and minimums
All fee types on the form
- Percentage of assets under managementYes
- Hourly chargesNo
- Fixed feesNo
- Subscription fees (for a newsletter or periodical)No
- CommissionsNo
- Performance-based feesNo
- OtherNo
Who the firm serves
- Corporations or other businesses83
- Pension and profit sharing plans11
- Insurance companies10
- State or municipal government entities (including government pension plans)7
- Pooled vehicles4
- and 1 more2
See the client table
| Client type | Approximate number of clients | Assets |
|---|---|---|
| High net worth individuals | Fewer than 5 clients | $24.3 million |
| Investment companies | 2 | $611.7 million |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $534.3 million |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 11 | $2.3 billion |
| State or municipal government entities (including government pension plans) | 7 | $2.6 billion |
| Insurance companies | 10 | $444.7 million |
| Corporations or other businesses not listed above | 83 | $10.6 billion |
| Other: "SETTLEMENT FUND & SUBADVISORY" | 7 | $475.5 million |
What the client labels mean
Here, "individuals" includes trusts, estates, and IRAs of individuals. A "high net worth individual" is a qualified client or qualified purchaser.
Services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
See all 4 services
- Portfolio management for businesses (other than small businesses) or institutional clients
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Assets and accounts
- Regulatory assets$17.7 billion
- Accounts125
- DiscretionaryAll accounts
People
- Employees32
- Advisory staff11
- Broker-dealer reps0
- Licensed insurance agents0
Registration details
- SEC-registered investment advisor. CRD 169258, SEC file 801-78733.
- Registered with the SEC as an investment advisor (status date on record: October 18, 2013).
Is Merganser Capital Management, LLC a fiduciary?
Short answer: Merganser Capital Management, LLC is registered with the SEC as an investment advisor.
More detail
The SEC put it this way in 2019: 'Under federal law, an investment adviser is a fiduciary.'
The firm does not report commissions, a broker-dealer role, a related broker-dealer, or staff who are broker-dealer representatives.
The firm's Form CRS explains its services, fees and conflicts in plain language: Form CRS.
About this data
Informational only. Advisable Finance is not an investment advisor, does not give investment advice, and does not endorse any advisor.