Speece Thorson Capital Group provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, and portfolio management for institutions. The firm advises 1 private fund.
Speece Thorson Capital Group reports 30 clients. They include 14 high-net-worth individuals, 9 charitable organizations and 3 individual clients. Of its assets, 100.0% ($469M across 41 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 10% | 3% |
| High-net-worth individuals | 47% | 25% |
| Pooled investment vehicles | 3% | 24% |
| Pension and profit-sharing plans | 7% | 25% |
| Charitable organizations | 30% | 23% |
| Other client typesState or municipal government entities | 3% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $13M | 2.8% | $4.33M |
| High-net-worth individuals | 14 | $116M | 24.7% | $8.29M |
| Pooled investment vehicles | 1 | $111M | 23.7% | $111M |
| Pension and profit-sharing plans | Fewer than 5 | $119M | 25.4% | $59.5M |
| Charitable organizations | 9 | $106M | 22.6% | $11.8M |
| State or municipal government entities | Fewer than 5 | $4M | 0.9% | $4M |
| Total | 30 | $469M | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $13M
- AUM share
- 2.8%
- Avg. per client
- $4.33M
- Clients
- 14
- Regulatory AUM
- $116M
- AUM share
- 24.7%
- Avg. per client
- $8.29M
- Clients
- 1
- Regulatory AUM
- $111M
- AUM share
- 23.7%
- Avg. per client
- $111M
- Clients
- Fewer than 5
- Regulatory AUM
- $119M
- AUM share
- 25.4%
- Avg. per client
- $59.5M
- Clients
- 9
- Regulatory AUM
- $106M
- AUM share
- 22.6%
- Avg. per client
- $11.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $4M
- AUM share
- 0.9%
- Avg. per client
- $4M
Total
- Clients
- 30
- Regulatory AUM
- $469M
- 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
- 1
- Financial planning clients last fiscal year
- 0
Speece Thorson Capital Group is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
Fred Speece owns 25% to 50% of Speece Thorson Capital Group. The leadership team of Speece Thorson Capital Group includes Chief Compliance Officer Jason Roeske. It has 4 employees.
Leadership
- Jason RoeskeChief Compliance Officer
- Benjamin JohnsonDirector, Shareholder
- Fred SpeeceDirector, Shareholder
- Peter SwansonDirector, Shareholder
- Matthew WeightDirector, Shareholder
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
- Benjamin David Johnson
- Jason William Roeske
- Fred Howard Speece JR.
- Peter James Swanson
- Matthew Jeremy Weight
Staff
- 4 employees
- 4 in advisory functions
- 4 state-registered reps
- 1 soliciting firm
- Owns 25% to 50% of Speece Thorson Capital Group Inc
Fred Speece
Control person · since March 1992
- Owns 10% to 25% of Speece Thorson Capital Group Inc
Benjamin Johnson
Control person · since January 2007
- Owns 10% to 25% of Speece Thorson Capital Group Inc
Matthew Weight
Control person · since January 2016
- Owns 10% to 25% of Speece Thorson Capital Group Inc
Peter Swanson
Control person · since January 2019
Speece Thorson Capital Group’s regulatory assets grew from $421M (May 2021) to $469M (March 2026); clients rose from 26 to 30 and employees were 4 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $469M | 30 | 4 | 1 |
| February 2025 | $522M | 28 | 4 | 1 |
| January 2024 | $504M | 27 | 4 | 1 |
| January 2023 | $502M | 26 | 4 | 1 |
| March 2022 | $501M | 26 | 4 | 1 |
| May 2021 | $421M | 26 | 4 | 1 |
Besides its headquarters, Speece Thorson Capital Group has 0 offices, with 1 listed address in Minnesota.
Minnesota · 1 listed address
- 601 Carlson Parkway, Suite 850, MinnetonkaHQ
Other business names
Speece Thorson Capital Group has reported 1 other business name to the SEC.
- St Capital
Contact and registration details
- Legal name
- Speece Thorson Capital Group Inc
- Headquarters
- 601 Carlson Parkway, Suite 850, Minnetonka, MN 55305-5231
- Website
- stcapital.com
- Phone
- 612-338-4649
- SEC file
- 801-39816
- Structure
- Minnesota corporation
- Fiscal year end
- December
Speece Thorson Capital Group uses Trustmark National Bank ($126M, 35%), Northern Trust ($124M, 34%) and US Bank ($110M, 31%) as custodians for its separately managed accounts. Speece Thorson Capital Group has custody of client assets.
- US BankUS Bank · Minneapolis, MN · $110M31%
- Trustmark National BankTrustmark National Bank · Jackson, MS · $126M35%
- Northern TrustNorthern Trust Co · Chicago, IL · $124M34%
At year end, Speece Thorson Capital Group’s separately managed accounts were mostly in stocks (95%). Its reported 13F holdings for the quarter ended 30 June 2026 total $468M across 37 positions; the largest are Commerce Bancshares Inc. (4.1%), White Mount Ins Grp Ltd (4.1%) and Mge Energy Inc. (4.0%).
What the accounts hold
- Stocks95%
- Cash5%
Reported 13F holdings
- $468M
- Reported 13F value
- 37
- Positions
- 36.9%
- In the 10 largest
- +106450.2%
- Value vs. prior quarter
- Commerce Bancshares Inc.4.1%
- White Mount Ins Grp Ltd4.1%
- Mge Energy Inc.4.0%
- Cass Information Sys Inc.3.8%
- Steris PLC Shs Usd3.8%
- Sonoco Products3.6%
- Msa Safety Inc.3.6%
- Rpm Intl Inc.3.4%
- Hexcel Corp. New3.3%
- Laboratory Corp. Amer Hldgs3.3%
Together, the ten largest are 36.9% of reported value.
How many clients does Speece Thorson Capital Group have?
Speece Thorson Capital Group has 30 clients and manages $469 million for them, as of March 2026. They include 14 high-net-worth individuals, 9 charitable organizations and 3 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Speece Thorson Capital Group offer?
Speece Thorson Capital Group provides portfolio management for individuals and small businesses, 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
Which custodians does Speece Thorson Capital Group use?
Speece Thorson Capital Group’s separately managed account assets are held at Trustmark National Bank (Jackson, MS), with $126M, Northern Trust Co (Chicago, IL), with $124M and US Bank (Minneapolis, MN), with $110M. 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 March 2026
How many financial advisors does Speece Thorson Capital Group have?
Speece Thorson Capital Group has 4 investment adviser representatives registered with state securities authorities, out of 4 employees, and 4 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 Speece Thorson Capital Group invest in?
At the end of its last fiscal year, Speece Thorson Capital Group’s separately managed accounts held 95% exchange-traded equities and 5% 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 Speece Thorson Capital Group?
Speece Thorson Capital Group’s direct owners are Fred Speece, Benjamin Johnson, Matthew Weight and Peter Swanson, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Speece Thorson Capital Group get paid?
Speece Thorson Capital Group 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
Is Speece Thorson Capital Group registered with the SEC?
Yes, Speece Thorson Capital Group has been registered with the SEC as an investment adviser since 8 April 1992. Its CRD number is 106052 and its SEC file number is 801-39816.
Source: Form ADV Part 1A, Item 1, filed 24 March 2026; IAPD firm record
How do I contact Speece Thorson Capital Group?
Speece Thorson Capital Group’s main office is at 601 Carlson Parkway, Suite 850, Minnetonka, MN 55305-5231. Its phone number is 612-338-4649. Its website is stcapital.com.