{"url":"https://nivawealth.com/firms/rail-splitter-capital-management-338394","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/338394","regulatoryAum":484088810,"crd":"338394","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"1209190","suffix":null,"lastName":"CROGHAN","firstName":"THOMAS","middleName":"J"},{"crd":"4463216","suffix":null,"lastName":"MACK","firstName":"DARIA","middleName":"MARIE"},{"crd":"1702122","suffix":"JR","lastName":"SOUTER","firstName":"JOHN","middleName":"ROBERT"}],"total":3,"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"},"secFileNumber":"801-134698","legalName":"Rail-Splitter Capital Management LLC","displayName":"Rail-Splitter Capital Management","slug":"rail-splitter-capital-management-338394","website":"https://rail-splitter.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"588 Lincoln Avenue, Suite 200","city":"Winnetka","state":"IL","stateName":"Illinois","country":"United States","postalCode":"60093"},"tradeNames":[],"registration":{"secApproved":"27 February 2026","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":14029369.852941176,"staff":{"employees":3,"advisory":3,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":484088810,"discretionary":466694778,"discretionaryAccounts":83,"nonDiscretionary":17394032,"nonDiscretionaryAccounts":25,"wrapProgram":484088810,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":12,"regulatoryAum":18537812},{"label":"High-net-worth individuals","clients":22,"regulatoryAum":458460763},{"label":"Pension and profit-sharing plans","clients":null,"fewerThan5":true,"regulatoryAum":7090235}],"feePrograms":[{"role":"main","program":"Investment Management Services","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049305","versionId":1049305,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-06-24","documentName":"RAIL-SPLITTER CAPITAL MANAGEMENT LLC DISCLOSURE BROCHURE","fee_rate_low":0.4,"fee_rate_high":2,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T11:33:01.701948+00:00","documents":[{"name":"RAIL-SPLITTER CAPITAL MANAGEMENT LLC DISCLOSURE BROCHURE","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049305","versionId":1049305,"submittedOn":"2026-06-24"}]},"custodians":[{"name":"Goldman Sachs & Co. LLC","shortName":"Goldman Sachs & Co.","location":"New York, NY","smaAssets":484088810}],"custodyNote":"Rail-Splitter Capital Management does not have custody of client assets.","leadership":[{"name":"John Souter","title":"Managing Member and Chief Compliance Officer","crd":"1702122"},{"name":"Thomas Croghan","title":"Managing Member","crd":"1209190"},{"name":"John Croghan","title":"Chairman","crd":"4641658"}],"ownership":[{"label":"John Souter","detail":"Managing member and chief compliance officer in the 10% to 25% ownership band and a control person, since September 2025."},{"label":"Thomas Croghan","detail":"Managing member in the 75% or more ownership band and a control person, since September 2025."}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Illinois","offices":1,"addresses":[{"street":"588 Lincoln Avenue, Suite 200","city":"Winnetka","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"773-294-6099","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":82},{"label":"U.S. government/agency bonds","percent":14},{"label":"Investment grade corporate bonds","percent":2},{"label":"Cash and cash equivalents","percent":2}],"privateFunds":0},"sources":{"adv1FilingDate":"24 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/338394/PDF/338394.pdf","brochureDate":"24 June 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1049305","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 Rail-Splitter Capital Management have?","answer":"Rail-Splitter Capital Management has 34 clients and manages $484 million for them, as of June 2026. They include 22 high-net-worth individuals and 12 individual clients.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 24 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Rail-Splitter Capital Management offer?","answer":"Rail-Splitter Capital Management provides portfolio management for individuals and small businesses 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 Rail-Splitter Capital Management charge?","answer":"Rail-Splitter Capital Management charges 0.40%–2.00% a year for its Investment Management Services. The fee is billed in arrears and is negotiable.","source":"RAIL-SPLITTER CAPITAL MANAGEMENT LLC DISCLOSURE BROCHURE, filed 24 June 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Rail-Splitter Capital Management use?","answer":"Rail-Splitter Capital Management’s separately managed account assets are held at Goldman Sachs & Co. LLC (New York, NY), with $484M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 June 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Rail-Splitter Capital Management have?","answer":"Rail-Splitter Capital Management has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Rail-Splitter Capital Management invest in?","answer":"At the end of its last fiscal year, Rail-Splitter Capital Management’s separately managed accounts held 82% exchange-traded equities, 14% U.S. government and agency bonds, 2% investment grade corporate bonds and 2% cash and equivalents.","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 Rail-Splitter Capital Management?","answer":"Rail-Splitter Capital Management’s direct owners are John Souter (10% to 25%) and Thomas Croghan (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 24 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Rail-Splitter Capital Management get paid?","answer":"Rail-Splitter Capital Management is paid through a percentage of assets under management. 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":"Is Rail-Splitter Capital Management registered with the SEC?","answer":"Yes, Rail-Splitter Capital Management has been registered with the SEC as an investment adviser since 27 February 2026. Its CRD number is 338394 and its SEC file number is 801-134698.","source":"Form ADV Part 1A, Item 1, filed 24 June 2026; IAPD firm record","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Rail-Splitter Capital Management?","answer":"Rail-Splitter Capital Management’s main office is at 588 Lincoln Avenue, Suite 200, Winnetka, IL 60093. Its phone number is 773-294-6099. Its website is rail-splitter.com.","source":"Form ADV Part 1A, Item 1.F, filed 24 June 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."}