{"url":"https://nivawealth.com/firms/gambit-capital-management-318313","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/318313","regulatoryAum":167479471,"crd":"318313","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"4224268","suffix":null,"lastName":"EARP","firstName":"PETER","middleName":"ALLAN"},{"crd":"7273955","suffix":null,"lastName":"FRANK","firstName":"ARON","middleName":"PATRICK"},{"crd":"4508866","suffix":null,"lastName":"Mattheisen","firstName":"Matthew","middleName":"Louis"},{"crd":"5976084","suffix":null,"lastName":"POWERS","firstName":"DANIEL","middleName":"JOHN"},{"crd":"8162267","suffix":null,"lastName":"Ressie","firstName":"Anthony","middleName":null},{"crd":"4674230","suffix":null,"lastName":"SCHELHAAS","firstName":"TYLER","middleName":"JON"},{"crd":"3162827","suffix":null,"lastName":"STUEVE","firstName":"TODD","middleName":"CHRISTOPHER"}],"total":7,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2025-07-21","regulatoryAum":101311686,"clients":83,"employees":4,"offices":4},{"filedOn":"2026-08-03","regulatoryAum":167479471,"clients":107,"employees":6,"offices":4}],"secFileNumber":"801-132187","legalName":"Gambit Capital Management, LLC","displayName":"Gambit Capital Management","slug":"gambit-capital-management-318313","website":"https://gambitcm.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/318313/7638671f23c22018-r1.webp","tone":"light","width":1047,"height":200,"sourceUrl":"https://www.gambitcm.com","sourceLabel":"Gambit Capital Management, LLC, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/gambitcm/","founded":null,"organization":"Tennessee limited liability company","fiscalYearEnd":"December","headquarters":{"street":"","city":"","state":"","stateName":"","country":"","postalCode":null},"tradeNames":["Still Water Wealth Management"],"registration":{"secApproved":"11 April 2025","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1545543.9719626168,"staff":{"employees":6,"advisory":6,"brokerDealerReps":0,"insuranceAgents":1,"promoters":0},"aum":{"regulatory":167479471,"discretionary":164278826,"discretionaryAccounts":366,"nonDiscretionary":3200645,"nonDiscretionaryAccounts":15,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":6},"clientTypes":[{"label":"Individuals (other than HNW)","clients":58,"regulatoryAum":16411661},{"label":"High-net-worth individuals","clients":49,"regulatoryAum":148961544},{"label":"Corporations and other businesses","clients":null,"fewerThan5":true,"regulatoryAum":2106266}],"feePrograms":[{"role":"main","program":"Investment management and financial planning","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-08-03","documentName":"FORM ADV PART 2","fee_rate_low":0.25,"fee_rate_high":1,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Employee benefit plan services","summary":"Fee not to exceed 2.00% of total plan assets, negotiable, paid in advance quarterly.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"submittedOn":"2026-08-03","documentName":"FORM ADV PART 2"},{"role":"other","program":"Financial coaching","summary":"Initial consultation fee of $300, then $60 per month in arrears, negotiable at the firm's discretion.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"submittedOn":"2026-08-03","documentName":"FORM ADV PART 2"},{"role":"other","program":"Outsourced CIO consulting","summary":"Flat fee of $1,000 per month, negotiable, paid in arrears monthly.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"submittedOn":"2026-08-03","documentName":"FORM ADV PART 2"},{"role":"other","program":"Tax preparation","summary":"Flat fee based on complexity, typically $500 to $2,500, due at completion of the engagement.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"submittedOn":"2026-08-03","documentName":"FORM ADV PART 2"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T17:09:38.376104+00:00","documents":[{"name":"FORM ADV PART 2","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","versionId":1053708,"submittedOn":"2026-08-03"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"San Francisco, CA","smaAssets":167479471}],"custodyNote":"Gambit Capital Management has custody of $32.8M in client assets for 57 clients.","otherCustodians":[],"leadership":[{"name":"Tyler Schelhaas","title":"Manager and President","crd":"4674230"},{"name":"Daniel Powers","title":"Manager and CCO","crd":"5976084"}],"ownership":[{"label":"Daniel Powers","detail":"Manager and cco in the 50% to 75% ownership band and a control person, since December 2021."},{"label":"Spronk Brothers Holdings, LLC","detail":"Holding company in the 50% to 75% ownership band and a control person, since December 2025."},{"label":"Tyler & Courtney Schelhaas Revokable Trust","detail":"Indirect owner: a member of Spronk Brothers Holdings, LLC in the 25% to 50% band and a control person, since December 2025.","parent":"Spronk Brothers Holdings, LLC"},{"label":"Randall K. Spronk Trust","detail":"Indirect owner: a member of Spronk Brothers Holdings, LLC in the 25% to 50% band and a control person, since December 2025.","parent":"Spronk Brothers Holdings, LLC"},{"label":"Seth & Taylor Spronk Revokable Trust","detail":"Indirect owner: a member of Spronk Brothers Holdings, LLC in the 25% to 50% band and a control person, since December 2025.","parent":"Spronk Brothers Holdings, LLC"},{"label":"Tyler Schelhaas","detail":"Indirect owner: a trustee of Tyler & Courtney Schelhaas Revokable Trust in the 50% to 75% band and a control person, since December 2025.","parent":"Tyler & Courtney Schelhaas Revokable Trust"},{"label":"Courtney Schelhaas","detail":"Indirect owner: a trustee of Tyler & Courtney Schelhaas Revokable Trust in the 50% to 75% band and a control person, since December 2025.","parent":"Tyler & Courtney Schelhaas Revokable Trust"},{"label":"Randall Spronk","detail":"Indirect owner: a trustee of Randall K. Spronk Trust in the 75% or more band and a control person, since December 2025.","parent":"Randall K. Spronk Trust"},{"label":"Seth Spronk","detail":"Indirect owner: a trustee of Seth & Taylor Spronk Revokable Trust in the 50% to 75% band and a control person, since December 2025.","parent":"Seth & Taylor Spronk Revokable Trust"},{"label":"Taylor Spronk","detail":"Indirect owner: a trustee of Seth & Taylor Spronk Revokable Trust in the 50% to 75% band and a control person, since December 2025.","parent":"Seth & Taylor Spronk Revokable Trust"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":3,"privateResidences":2},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"Minnesota","offices":1,"addresses":[{"street":"221 Main Street","city":"Stillwater"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"651-427-9001","stateRegisteredReps":6,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Pension consulting services","Selection of other advisers (including private fund managers)","Other"],"financialPlanningClients":"251-500","assetMix":[{"label":"Exchange-traded equity securities","percent":37},{"label":"U.S. government/agency bonds","percent":1},{"label":"Derivatives","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":59},{"label":"Cash and cash equivalents","percent":2}],"privateFunds":0},"sources":{"adv1FilingDate":"3 August 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/318313/PDF/318313.pdf","brochureDate":"3 August 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1053708","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Gambit Capital Management have?","answer":"Gambit Capital Management has 107 clients and manages $167 million for them, as of August 2026. They include 58 individual clients and 49 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 3 August 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Gambit Capital Management offer?","answer":"Gambit Capital Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Gambit Capital Management charge?","answer":"Gambit Capital Management charges 0.25%–1.00% a year for its Investment management and financial planning. The fee is billed in arrears and is negotiable.","source":"FORM ADV PART 2, filed 3 August 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Gambit Capital Management use?","answer":"Gambit Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $167M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 August 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Gambit Capital Management have?","answer":"Gambit Capital Management has 6 investment adviser representatives registered with state securities authorities, out of 6 employees, and 6 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Gambit Capital Management invest in?","answer":"At the end of its last fiscal year, Gambit Capital Management’s separately managed accounts held 59% registered funds (mutual funds, ETFs, BDCs), 37% exchange-traded equities, 2% cash and equivalents, 1% U.S. government and agency bonds and 1% derivatives.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Gambit Capital Management?","answer":"Gambit Capital Management is owned through a chain of holding companies by Tyler and Courtney Schelhaas, Randall Spronk, and Seth and Taylor Spronk. Its direct owners are Daniel Powers (50% to 75%) and Spronk Brothers Holdings, LLC (50% to 75%).","source":"Form ADV Part 1A, Schedules A and B, filed 3 August 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Gambit Capital Management get paid?","answer":"Gambit Capital Management is paid through a percentage of assets under management and fixed fees. 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Gambit Capital Management?","answer":"Its phone number is 651-427-9001. Its website is gambitcm.com.","source":"Form ADV Part 1A, Item 1.F, filed 3 August 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}