Denali Advisors provides portfolio management for individuals and small businesses and portfolio management for institutions. The firm advises 1 private fund.
Denali Advisors reports 291 clients. They include 197 individual clients, 60 high-net-worth individuals, and 12 corporations and other businesses. Of its assets, 99.6% ($1.38B across 290 accounts) are managed with discretion; $5.56M across 1 account is not. A wrap fee program the firm both sponsors and manages holds $128M. Of its clients, 1% are outside the U.S. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 68% | 5% |
| High-net-worth individuals | 21% | 13% |
| Pooled investment vehicles | <1% | 12% |
| Charitable organizations | 3% | 5% |
| State or municipal government entities | 3% | 63% |
| Other client typesSovereign wealth funds and foreign official institutions; Corporations and other businesses; Other | 5% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 197 | $63.4M | 4.6% | $322K |
| High-net-worth individuals | 60 | $178M | 12.8% | $2.97M |
| Pooled investment vehicles | 1 | $165M | 11.9% | $165M |
| Charitable organizations | 9 | $68.8M | 5.0% | $7.65M |
| State or municipal government entities | 8 | $868M | 62.5% | $108M |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $19M | 1.4% | $19M |
| Corporations and other businesses | 12 | $22.3M | 1.6% | $1.86M |
| Other | Fewer than 5 | $3.49M | 0.3% | $1.16M |
| Total | 291 | $1.39B | 100% | — |
- Clients
- 197
- Regulatory AUM
- $63.4M
- AUM share
- 4.6%
- Avg. per client
- $322K
- Clients
- 60
- Regulatory AUM
- $178M
- AUM share
- 12.8%
- Avg. per client
- $2.97M
- Clients
- 1
- Regulatory AUM
- $165M
- AUM share
- 11.9%
- Avg. per client
- $165M
- Clients
- 9
- Regulatory AUM
- $68.8M
- AUM share
- 5.0%
- Avg. per client
- $7.65M
- Clients
- 8
- Regulatory AUM
- $868M
- AUM share
- 62.5%
- Avg. per client
- $108M
- Clients
- Fewer than 5
- Regulatory AUM
- $19M
- AUM share
- 1.4%
- Avg. per client
- $19M
- Clients
- 12
- Regulatory AUM
- $22.3M
- AUM share
- 1.6%
- Avg. per client
- $1.86M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.49M
- AUM share
- 0.3%
- Avg. per client
- $1.16M
Total
- Clients
- 291
- Regulatory AUM
- $1.39B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 1
Denali Advisors is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Robert Snigaroff owns 50% to 75% of Denali Advisors. The leadership team of Denali Advisors includes Chief Investment Officer Robert Gillam and Chief Compliance Officer Adam Fagan. It has 14 employees, 9 of them in advisory roles.
Leadership
- Adam FaganChief Compliance Officer
- Robert GillamChief Investment Officer, Growth Equity
- Michael MunsonMember
- Robert SnigaroffMember, Manager, Chief Investment Officer
Staff
- 14 employees
- 9 in advisory functions
- 1 soliciting firm
- Owns 50% to 75% of Denali Advisors, LLC
Robert Snigaroff
Control person · since February 2001
- Owns 10% to 25% of Denali Advisors, LLC
Nile Capital Fund B, LP
since November 2016
- Owns 50% to 75% of Nile Capital Fund B, LP
The Lindsey Family Trust
since November 2016
- Owns 25% to 50% of Nile Capital Fund B, LP
Nile Capital Group
since November 2016
- Owns 25% to 50% of Nile Capital Group
Melvin Lindsey
Control person · since November 2016
- Owns 10% to 25% of Denali Advisors, LLC
McKinley Management, LLC
Control person · since December 2023
- Owns 5% to 10% of Denali Advisors, LLC
Michael Munson
Control person · since February 2001
Denali Advisors’ regulatory assets grew 1.9× from $729M (April 2021) to $1.39B (March 2026); clients rose from 13 to 291 and employees were 14 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.39B | 291 | 14 | 3 |
| June 2025 | $1.2B | 312 | 13 | 3 |
| July 2024 | $493M | 9 | 20 | 3 |
| March 2023 | $410M | 10 | 11 | 1 |
| February 2022 | $426M | 11 | 12 | 2 |
| April 2021 | $729M | 13 | 14 | 1 |
Besides its headquarters, Denali Advisors has 2 offices, with 3 listed addresses in Alaska, California and Illinois.
Alaska · 1 listed address
- 3800 Centerpoint Drive, Anchorage
California · 1 listed address
- 5075 Shoreham Place, Suite 120, San DiegoHQ
Illinois · 1 listed address
- 233 S. Wacker Drive, Chicago
Contact and registration details
- Legal name
- Denali Advisors, LLC
- Headquarters
- 5075 Shoreham Place, Suite 120, San Diego, CA 92122
- Website
- denaliadvisors.com
- Phone
- 858-558-3600
- @denali-advisors
- SEC file
- 801-60039
- Structure
- Delaware LLC
- Fiscal year end
- December
Denali Advisors uses BNY Mellon Capital Markets ($412M, 38%), State Street Global Markets ($198M, 18%) and Northern Trust Securities ($165M, 15%), among others, as custodians for its separately managed accounts. Denali Advisors has custody of $165M in client assets for 1 client.
- BNY Mellon Capital MarketsBNY Mellon Capital Markets, LLC · New York, NY · $412M38%
- State Street Global MarketsState Street Global Markets, LLC · Boston, MA · $198M18%
- HSBC Securities (USA)HSBC Securities (USA) Inc. · New York, NY · $165M15%
- Charles SchwabCharles Schwab & Co., Inc. · Chicago, IL · $153M14%
- Northern Trust SecuritiesNorthern Trust Securities, Inc. · Chicago, IL · $165M15%
At year end, Denali Advisors’ separately managed accounts were mostly in stocks (97%). Its reported 13F holdings for the quarter ended 30 June 2026 total $993M across 318 positions; the largest are Nvidia Corporation (4.4%), Alphabet Inc. (3.8%) and Apple Inc. (3.0%).
What the accounts hold
- Stocks97%
- Cash3%
Reported 13F holdings
- $993M
- Reported 13F value
- 318
- Positions
- 21.6%
- In the 10 largest
- +10.4%
- Value vs. prior quarter
- Nvidia Corporation4.4%
- Alphabet Inc. · Cap Stk CL C3.8%
- Apple Inc.3.0%
- Microsoft Corp.2.2%
- Amazon Com Inc.1.7%
- Eli Lilly & CO1.6%
- Broadcom Inc.1.6%
- Meta Platforms Inc. · CL A1.3%
- Caterpillar Inc.1.2%
- Advanced Micro Devices Inc.1.1%
Together, the ten largest are 21.6% of reported value.
How many clients does Denali Advisors have?
Denali Advisors has 291 clients and manages $1.39 billion for them, as of March 2026. They include 197 individual clients, 60 high-net-worth individuals, and 12 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Denali Advisors offer?
Denali Advisors provides portfolio management for individuals and small businesses and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Denali Advisors use?
Denali Advisors’ separately managed account assets are held at BNY Mellon Capital Markets, LLC (New York, NY), with $412M, State Street Global Markets, LLC (Boston, MA), with $198M, Northern Trust Securities, Inc. (Chicago, IL), with $165M, HSBC Securities (USA) Inc. (New York, NY), with $165M and Charles Schwab & Co., Inc. (Chicago, IL), with $153M. 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 March 2026
How many financial advisors does Denali Advisors have?
Denali Advisors has 0 investment adviser representatives registered with state securities authorities, out of 14 employees, and 9 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 Denali Advisors invest in?
At the end of its last fiscal year, Denali Advisors’ separately managed accounts held 97% exchange-traded equities and 3% cash and equivalents. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Denali Advisors?
Denali Advisors is owned through a chain of holding companies by the Lindsey Family Trust and Melvin Lindsey. Its direct owners are Robert Snigaroff (50% to 75%), Michael Munson (5% to 10%), Nile Capital Fund B, LP (10% to 25%) and McKinley Management, LLC (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Denali Advisors get paid?
Denali Advisors is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions 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 Denali Advisors?
Denali Advisors’ main office is at 5075 Shoreham Place, Suite 120, San Diego, CA 92122. Its phone number is 858-558-3600. Its website is denaliadvisors.com.