Sepio Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers. The firm advises 10 private funds.
Sepio Capital reports 295 clients. They include 276 high-net-worth individuals, 10 pooled investment vehicles and 7 charitable organizations. Of its assets, 89.3% ($5.04B across 297 accounts) are managed with discretion; $603M across 77 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| High-net-worth individuals | 94% | 74% |
| Investment companies | <1% | 11% |
| Pooled investment vehicles | 3% | 6% |
| Charitable organizations | 2% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 276 | $4.15B | 73.5% | $15M |
| Investment companies | 2 | $628M | 11.1% | $314M |
| Pooled investment vehicles | 10 | $323M | 5.7% | $32.3M |
| Charitable organizations | 7 | $542M | 9.6% | $77.4M |
| Total | 295 | $5.64B | 100% | $19.1M |
- Clients
- 276
- Regulatory AUM
- $4.15B
- AUM share
- 73.5%
- Avg. per client
- $15M
- Clients
- 2
- Regulatory AUM
- $628M
- AUM share
- 11.1%
- Avg. per client
- $314M
- Clients
- 10
- Regulatory AUM
- $323M
- AUM share
- 5.7%
- Avg. per client
- $32.3M
- Clients
- 7
- Regulatory AUM
- $542M
- AUM share
- 9.6%
- Avg. per client
- $77.4M
Total
- Clients
- 295
- Regulatory AUM
- $5.64B
- AUM share
- 100%
- Avg. per client
- $19.1M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 10
- Financial planning clients last fiscal year
- 0
Sepio Capital charges 0.50%–1.00% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in advance. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Retirement Plan Advisory Services
- Charged an annual asset-based fee of up to 1.00%, billed monthly in advance; fees may be negotiable depending on the size and complexity of the plan.
- Strategic Planning and Consulting
- When engaged as a separate engagement, strategic planning and consulting is charged a fixed fee, which may be negotiable; an estimate is given before engagement.
Roger Carter owns 25% to 50% of Sepio Capital. The leadership team of Sepio Capital includes Chief Investment Officer John Beatson and Chief Compliance Officer Joseph Kessel. It has 31 employees, 18 of them in advisory roles.
Leadership
- Joseph KesselChief Compliance Officer
- John BeatsonLimited Partner, Co-Chief Investment Officer, Managing Director
- Roger CarterLimited Partner and Managing Director
- Donald EdgrenLimited Partner and Managing Director
- Mitchell RencherLimited Partner, Managing Director
- Hansen RingerLimited Partner, Managing Director
- Joshua CarterLimited Partner
Investment adviser representatives
19 representatives listed in the SEC register as of 9 October 2026.
- Bonnie Jean Bakalar
- Christopher David Barlow
- Anna Call
- Jackson Phillip Casper
- Steven William Edgren
- Joseph Robert Harvey
- Garrett Benjamin Hill
- King Chun Hung
- Hyuk Sun Kwon
- Blair Briggs Neeleman
- Alexander Rahm
- Supreet Subodh Shah
- Andrew Skinner
Staff
- 31 employees
- 18 in advisory functions
- 18 state-registered reps
- 2 soliciting firms
- Owns 25% to 50% of Sepio Capital, LP
Roger Carter
Control person · since May 2017
- Owns 10% to 25% of Sepio Capital, LP
Joshua Carter
Control person · since May 2017
- Owns 10% to 25% of Sepio Capital, LP
Donald Edgren
Control person · since May 2017
- Owns 10% to 25% of Sepio Capital, LP
John Beatson
Control person · since January 2022
- Owns 10% to 25% of Sepio Capital, LP
Hansen Ringer
Control person · since January 2024
Sepio Capital’s regulatory assets grew from $4.42B (March 2021) to $5.64B (April 2026); clients rose from 188 to 295 and employees from 25 to 31.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $5.64B | 295 | 31 | 5 |
| July 2025 | $4.46B | 266 | 27 | 5 |
| May 2024 | $6.67B | 242 | 24 | 4 |
| June 2023 | $5.06B | 284 | 29 | 4 |
| May 2022 | $6.24B | 162 | 30 | 5 |
| March 2021 | $4.42B | 188 | 25 | 3 |
Besides its headquarters, Sepio Capital has 4 offices (4 private residences, listed without an address), with 1 listed address in Utah.
Utah · 1 listed address
- 2795 E Cottonwood Parkway, Suite 600, Salt Lake CityHQ
Contact and registration details
- Legal name
- Sepio Capital, LP
- Headquarters
- 2795 E Cottonwood Parkway, Suite 600, Salt Lake City, UT 84121
- Website
- sepiocap.com
- Phone
- 415-915-3708
- @sepiocap-
- SEC file
- 801-108889
- Structure
- Delaware limited partnership
- Fiscal year end
- December
Sepio Capital uses Fidelity ($3.92B) as custodian for its separately managed accounts. Sepio Capital has custody of $1.56B in client assets for 1,483 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $3.92B100%
At year end, Sepio Capital’s separately managed accounts were largely in funds (45%) and stocks (41%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.99B across 346 positions; the largest are EA Series Trust (28.0%), EA Series Trust (7.9%) and Vanguard Index Fds (6.8%).
What the accounts hold
- Stocks41%
- Exchange-traded equities40%
- Non-exchange-traded equities1%
- Funds45%
- Pooled vehicles24%
- Registered funds21%
- Bonds6%
- U.S. government and agency bonds4%
- State and local bonds2%
- Cash8%
Reported 13F holdings
- $1.99B
- Reported 13F value
- 346
- Positions
- 56.0%
- In the 10 largest
- +7.9%
- Value vs. prior quarter
- EA Series Trust · Bushido Cap U S28.0%
- EA Series Trust · Bushido Cap Smid7.9%
- Vanguard Index Fds · S&P 500 ETF Shs6.8%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt3.9%
- Vanguard Intl Equity Index F · FTSE Emr Mkt ETF1.9%
- Abbvie Inc.1.6%
- Invesco Exchange Traded FD T · S&P500 Eql Wgt1.6%
- Nvidia Corporation1.5%
- Pacer Fds TR · Developed Mrkt1.4%
- Vanguard Index Fds · Value ETF1.4%
Together, the ten largest are 56.0% of reported value.
How many clients does Sepio Capital have?
Sepio Capital has 295 clients and manages $5.64 billion for them, as of April 2026. They include 276 high-net-worth individuals, 10 pooled investment vehicles and 7 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 April 2026
What services does Sepio Capital offer?
Sepio Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Sepio Capital charge?
Sepio Capital charges 0.50%–1.00% for its Investment Advisory Services. The brochure does not state whether the rate is annual. The fee is billed in advance.
Source: SEPIO CAPITAL ADV PART 2A MARCH 2026, filed 31 March 2026
Which custodians does Sepio Capital use?
Sepio Capital’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $3.92B. 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 April 2026
How many financial advisors does Sepio Capital have?
Sepio Capital has 18 investment adviser representatives registered with state securities authorities, out of 31 employees, and 18 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 Sepio Capital invest in?
At the end of its last fiscal year, Sepio Capital’s separately managed accounts held 40% exchange-traded equities, 24% pooled vehicles (private funds and similar), 21% registered funds (mutual funds, ETFs, BDCs), 8% cash and equivalents, 4% U.S. government and agency bonds, 2% state and local bonds and 1% non-exchange-traded equities. It advises 10 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 Sepio Capital?
Sepio Capital’s direct owners are Joshua Carter, Donald Edgren, Roger Carter, John Beatson and Hansen Ringer, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 27 April 2026
How does Sepio Capital get paid?
Sepio Capital is paid through a percentage of assets under management, fixed fees, performance-based fees and other compensation. 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 Sepio Capital?
Sepio Capital’s main office is at 2795 E Cottonwood Parkway, Suite 600, Salt Lake City, UT 84121. Its phone number is 415-915-3708. Its website is sepiocap.com.