{"url":"https://nivawealth.com/firms/speece-thorson-capital-group-106052","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/106052","regulatoryAum":469000000,"crd":"106052","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"2515681","suffix":null,"lastName":"JOHNSON","firstName":"BENJAMIN","middleName":"DAVID"},{"crd":"2216669","suffix":null,"lastName":"ROESKE","firstName":"JASON","middleName":"WILLIAM"},{"crd":"2278982","suffix":"JR.","lastName":"SPEECE","firstName":"FRED","middleName":"HOWARD"},{"crd":"4208484","suffix":null,"lastName":"SWANSON","firstName":"PETER","middleName":"JAMES"},{"crd":"4976477","suffix":null,"lastName":"WEIGHT","firstName":"MATTHEW","middleName":"JEREMY"}],"total":5,"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":"2021-05-05","regulatoryAum":421000000,"clients":26,"employees":4,"offices":1},{"filedOn":"2022-03-17","regulatoryAum":501000000,"clients":26,"employees":4,"offices":1},{"filedOn":"2023-01-31","regulatoryAum":502000000,"clients":26,"employees":4,"offices":1},{"filedOn":"2024-01-23","regulatoryAum":504000000,"clients":27,"employees":4,"offices":1},{"filedOn":"2025-02-05","regulatoryAum":522000000,"clients":28,"employees":4,"offices":1},{"filedOn":"2026-03-24","regulatoryAum":469000000,"clients":30,"employees":4,"offices":1}],"secFileNumber":"801-39816","legalName":"Speece Thorson Capital Group Inc","displayName":"Speece Thorson Capital Group","slug":"speece-thorson-capital-group-106052","website":"https://stcapital.com/","classification":{"segment":"institutions","segmentLabel":"Institutional","type":"institutional_asset_manager","typeLabel":"Asset manager","feeDisclosure":"payment_only"},"linkedinUrl":"https://www.linkedin.com/company/speece-thorson-capital-group-inc-/","founded":null,"organization":"Minnesota corporation","fiscalYearEnd":"December","headquarters":{"street":"601 Carlson Parkway, Suite 850","city":"Minnetonka","state":"MN","stateName":"Minnesota","country":"United States","postalCode":"55305-5231"},"tradeNames":["St Capital"],"registration":{"secApproved":"8 April 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Shareholder","crd":"4976477"}],"ownership":[{"label":"Fred Speece","detail":"Director, shareholder in the 25% to 50% ownership band and a control person, since March 1992."},{"label":"Benjamin Johnson","detail":"Director, shareholder in the 10% to 25% ownership band and a control person, since January 2007."},{"label":"Matthew Weight","detail":"Director, shareholder in the 10% to 25% ownership band and a control person, since January 2016."},{"label":"Peter Swanson","detail":"Director, shareholder in the 10% to 25% ownership band and a control person, since January 2019."}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Minnesota","offices":1,"addresses":[{"street":"601 Carlson Parkway, Suite 850","city":"Minnetonka","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"612-338-4649","stateRegisteredReps":4,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":95},{"label":"Cash and cash equivalents","percent":5}],"privateFunds":1},"sources":{"adv1FilingDate":"24 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/106052/PDF/106052.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Speece Thorson Capital Group have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Speece Thorson Capital Group offer?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Speece Thorson Capital Group use?","answer":"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","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Speece Thorson Capital Group have?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Speece Thorson Capital Group invest in?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Speece Thorson Capital Group?","answer":"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","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Speece Thorson Capital Group get paid?","answer":"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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Speece Thorson Capital Group registered with the SEC?","answer":"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","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Speece Thorson Capital Group?","answer":"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.","source":"Form ADV Part 1A, Item 1.F, filed 24 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/speece-thorson-capital-group-106052/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-04","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/900169/000090016926000003/0000900169-26-000003-index.html","totalValue":467746000,"positionCount":37,"top10Share":0.36914693017150335,"top10":[{"issuer":"COMMERCE BANCSHARES INC","titleOfClass":"COM","cusip":"200525103","value":19199000,"shares":332442,"shareType":"SH","priorValue":16661,"priorShares":338636},{"issuer":"WHITE MOUNT INS GRP LTD","titleOfClass":"COM","cusip":"G9618E107","value":19106000,"shares":9215,"shareType":"SH","priorValue":20645,"priorShares":9397},{"issuer":"MGE ENERGY 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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."}