Decathlon Capital Management II provides portfolio management for pooled vehicles and portfolio management for institutions. The firm advises 5 private funds.
Decathlon Capital Management II reports 4 clients. They include 4 pooled investment vehicles. Of its assets, 100.0% ($267M across 5 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 94% |
| Corporations and other businesses | 0% | 6% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 4 | $252M | 94.5% | $63M |
| Corporations and other businesses | Fewer than 5 | $14.7M | 5.5% | — |
| Total | 4 | $267M | 100% | — |
- Clients
- 4
- Regulatory AUM
- $252M
- AUM share
- 94.5%
- Avg. per client
- $63M
- Clients
- Fewer than 5
- Regulatory AUM
- $14.7M
- AUM share
- 5.5%
- Avg. per client
- —
Total
- Clients
- 4
- Regulatory AUM
- $267M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 5
- Financial planning clients last fiscal year
- 0
Decathlon Capital Management II is paid through a percentage of assets under management and other compensation; its fees and minimums are set out in its brochures on the SEC website.
John Borchers owns 25% to 50% of Decathlon Capital Management II. The leadership team of Decathlon Capital Management II includes Chief Financial Officer Spencer Thunell. It has 13 employees, 5 of them in advisory roles.
Leadership
- Spencer ThunellChief Financial Officer, Chief Compliance Officer
- John BorchersManaging Member
- Wayne CantwellManaging Member
Staff
- 13 employees
- 5 in advisory functions
- Owns 25% to 50% of Decathlon Capital Management II, LLC
John Borchers
Control person · since June 2013
- Owns 25% to 50% of Decathlon Capital Management II, LLC
Wayne Cantwell
Control person · since June 2013
- Owns 10% to 25% of Decathlon Capital Management II, LLC
Spencer Thunell
Control person · since June 2014
Decathlon Capital Management II’s regulatory assets fell from $435M (March 2021) to $267M (March 2026); clients fell from 5 to 4 and employees rose from 12 to 13.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $267M | 4 | 13 | 2 |
| March 2025 | $344M | 4 | 13 | 2 |
| March 2024 | $428M | 5 | 13 | 2 |
| March 2023 | $450M | 5 | 13 | 2 |
| March 2022 | $400M | 5 | 12 | 1 |
| March 2021 | $435M | 5 | 12 | 1 |
Besides its headquarters, Decathlon Capital Management II has 1 office, with 2 listed addresses in California and Utah.
California · 1 listed address
- 1300 El Camino Real, Menlo Park
Utah · 1 listed address
- 1441 West Ute BLVD, Suite 240, Park CityHQ
Contact and registration details
- Legal name
- Decathlon Capital Management II, LLC
- Headquarters
- 1441 West Ute BLVD, Suite 240, Park City, UT 84098
- Website
- decathloncapital.com
- Phone
- 435-200-1051
- @decathlon-capital-partners
- SEC file
- 801-108317
- Structure
- Delaware LLC
- Fiscal year end
- December
Decathlon Capital Management II has custody of client assets.
What the accounts hold
- Other100%
- The adviser provides investment advice to decathlon specialty finance, llc and its wholly-owned subsidiary, decathlon growth capital, llc, which provide senior secured loans to lower middle market companies seeking growth capital.100%
How many clients does Decathlon Capital Management II have?
Decathlon Capital Management II has 4 clients and manages $267 million for them, as of March 2026. They include 4 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Decathlon Capital Management II offer?
Decathlon Capital Management II provides portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How many financial advisors does Decathlon Capital Management II have?
Decathlon Capital Management II has 0 investment adviser representatives registered with state securities authorities, out of 13 employees, and 5 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 Decathlon Capital Management II invest in?
At the end of its last fiscal year, Decathlon Capital Management II’s separately managed accounts held 100% other. The 100% other category is described as: The Adviser Provides Investment Advice to Decathlon Specialty Finance, LLC and Its Wholly-Owned Subsidiary, Decathlon Growth Capital, LLC, Which Provide Senior Secured Loans to Lower Middle Market Companies Seeking Growth Capital. It advises 5 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Decathlon Capital Management II?
Decathlon Capital Management II’s direct owners are John Borchers, Wayne Cantwell and Spencer Thunell, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Decathlon Capital Management II get paid?
Decathlon Capital Management II 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
How do I contact Decathlon Capital Management II?
Decathlon Capital Management II’s main office is at 1441 West Ute BLVD, Suite 240, Park City, UT 84098. Its phone number is 435-200-1051. Its website is decathloncapital.com.