Carmel Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 1–10 clients last fiscal year.
Carmel Capital Management reports 102 clients. They include 102 high-net-worth individuals. Of its assets, 100.0% ($392M across 109 accounts) are managed with discretion. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | <1% |
| High-net-worth individuals | 100% | 97% |
| Pension and profit-sharing plans | Fewer than 5 | 3% |
| Charitable organizations | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $298K | 0.1% | — |
| High-net-worth individuals | 102 | $381M | 97.1% | $3.73M |
| Pension and profit-sharing plans | Fewer than 5 | $10.6M | 2.7% | — |
| Charitable organizations | Fewer than 5 | $263K | 0.1% | — |
| Total | 102 | $392M | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $298K
- AUM share
- 0.1%
- Avg. per client
- —
- Clients
- 102
- Regulatory AUM
- $381M
- AUM share
- 97.1%
- Avg. per client
- $3.73M
- Clients
- Fewer than 5
- Regulatory AUM
- $10.6M
- AUM share
- 2.7%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $263K
- AUM share
- 0.1%
- Avg. per client
- —
Total
- Clients
- 102
- Regulatory AUM
- $392M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Carmel Capital Management charges 1.00% a year for its Annual advisory fee. The fee is billed in advance. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Investment consulting
- Consulting fees are charged for investment consulting projects; the amount depends on the specific services provided.
West Whittaker owns 75% or more of Carmel Capital Management. The leadership team of Carmel Capital Management includes Chief Compliance Officer West Whittaker. It has 6 employees.
Leadership
- West WhittakerPrincipal and Chief Compliance Officer
Staff
- 6 employees
- 6 in advisory functions
- Owns 75% or more of Carmel Capital Management L.L.C.
West Whittaker
Control person · since October 1999
Carmel Capital Management’s regulatory assets grew 2.2× from $178M (March 2021) to $392M (February 2026); clients rose from 92 to 102 and employees were 6 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $392M | 102 | 6 | 1 |
| January 2025 | $311M | 96 | 6 | 1 |
| February 2024 | $246M | 93 | 6 | 1 |
| March 2023 | $195M | 90 | 6 | 1 |
| June 2022 | $245M | 90 | 6 | 1 |
| March 2021 | $178M | 92 | 6 | 1 |
Besides its headquarters, Carmel Capital Management has 0 offices, with 1 listed address in California.
California · 1 listed address
- 26350 Carmel Rancho Lane, Suite 225, CarmelHQ
Contact and registration details
- Legal name
- Carmel Capital Management L.L.C.
- Headquarters
- 26350 Carmel Rancho Lane, Suite 225, Carmel, CA 93923-8734
- Website
- carmelcapital.com
- Phone
- 831-625-1375
- SEC file
- 801-61225
- Founded
- 1999
- Structure
- California LLC
- Fiscal year end
- December
Carmel Capital Management uses Charles Schwab ($392M) as custodian for its separately managed accounts. Carmel Capital Management has custody of $18.1M in client assets for 3 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $392M100%
At year end, Carmel Capital Management’s separately managed accounts were mostly in stocks (89%). Its reported 13F holdings for the quarter ended 30 June 2026 total $456M across 28 positions; the largest are Applied Matls Inc. (12.6%), Broadcom Inc. (11.7%) and Vistra Corp. (8.9%).
What the accounts hold
- Stocks89%
- Funds1%
- Bonds3%
- U.S. government and agency bonds2%
- State and local bonds1%
- Cash7%
Reported 13F holdings
- $456M
- Reported 13F value
- 28
- Positions
- 67.2%
- In the 10 largest
- +30.7%
- Value vs. prior quarter
- Applied Matls Inc.12.6%
- Broadcom Inc.11.7%
- Vistra Corp.8.9%
- ASML Hldg NV · N Y Registry Shs6.1%
- KLA Corp.5.8%
- Citigroup Inc.5.4%
- JPMORGAN Chase & CO4.5%
- Teradyne Inc.4.4%
- NXP Semiconductors N V4.1%
- Garrett Motion Inc.3.8%
Together, the ten largest are 67.2% of reported value.
How many clients does Carmel Capital Management have?
Carmel Capital Management has 102 clients and manages $392 million for them, as of February 2026. They include 102 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 February 2026
What services does Carmel Capital Management offer?
Carmel Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Carmel Capital Management charge?
Carmel Capital Management charges 1.00% a year for its Annual advisory fee. The fee is billed in advance.
Source: CARMEL CAPITAL MANAGEMENT L.L.C. FORM ADV PART 2A - FEBRUARY 2026, filed 27 February 2026
Which custodians does Carmel Capital Management use?
Carmel Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $392M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 February 2026
How many financial advisors does Carmel Capital Management have?
Carmel Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 6 employees, and 6 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Carmel Capital Management invest in?
At the end of its last fiscal year, Carmel Capital Management’s separately managed accounts held 89% exchange-traded equities, 7% cash and equivalents, 2% U.S. government and agency bonds, 1% state and local bonds and 1% registered funds (mutual funds, ETFs, BDCs).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Carmel Capital Management?
Carmel Capital Management’s direct owner is West Whittaker (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 February 2026
How does Carmel Capital Management get paid?
Carmel Capital Management is paid through a percentage of assets under management and other compensation. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Carmel Capital Management registered with the SEC?
Yes, Carmel Capital Management has been registered with the SEC as an investment adviser since 3 June 2002. Its CRD number is 120675 and its SEC file number is 801-61225.
Source: Form ADV Part 1A, Item 1, filed 27 February 2026; IAPD firm record
How do I contact Carmel Capital Management?
Carmel Capital Management’s main office is at 26350 Carmel Rancho Lane, Suite 225, Carmel, CA 93923-8734. Its phone number is 831-625-1375. Its website is carmelcapital.com.