Spring Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Spring Capital Management reports 139 clients. They include 78 high-net-worth individuals, 54 individual clients, and 7 corporations and other businesses. Of its assets, 100.0% ($223M across 316 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $669M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 39% | <1% |
| High-net-worth individuals | 56% | 89% |
| Charitable organizations | Fewer than 5 | 2% |
| Corporations and other businesses | 5% | 9% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 54 | $1.13M | 0.5% | $21K |
| High-net-worth individuals | 78 | $199M | 89.1% | $2.55M |
| Charitable organizations | Fewer than 5 | $3.94M | 1.8% | — |
| Corporations and other businesses | 7 | $19.3M | 8.7% | $2.76M |
| Total | 139 | $223M | 100% | — |
- Clients
- 54
- Regulatory AUM
- $1.13M
- AUM share
- 0.5%
- Avg. per client
- $21K
- Clients
- 78
- Regulatory AUM
- $199M
- AUM share
- 89.1%
- Avg. per client
- $2.55M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.94M
- AUM share
- 1.8%
- Avg. per client
- —
- Clients
- 7
- Regulatory AUM
- $19.3M
- AUM share
- 8.7%
- Avg. per client
- $2.76M
Total
- Clients
- 139
- Regulatory AUM
- $223M
- 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
- 0
Spring Capital Management charges 1.50% a year for its ADEPT Wrap Fee Program. The fee is billed in advance or in arrears, is negotiable and requires an account of at least $1,000,000.
Fee details and sources
Richard McElreath owns 75% or more of Spring Capital Management. The leadership team of Spring Capital Management includes President Richard McElreath. It has 2 employees.
Leadership
- Richard McElreathPresident, Director and CCO
- Jennifer McElreathSecretary
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 2 employees
- 2 in advisory functions
- 2 state-registered reps
- 1 broker-dealer rep
- 2 insurance agents
- Owns 75% or more of Spring Capital Management, LLC
Richard McElreath
Control person · since August 2008
- Owns 5% to 10% of Spring Capital Management, LLC
Jennifer McElreath
since August 2008
Spring Capital Management’s regulatory assets grew 1.8× from $127M (March 2021) to $223M (February 2026); clients rose from 117 to 139 and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $223M | 139 | 2 | 3 |
| January 2025 | $214M | 136 | 2 | 3 |
| April 2024 | $157M | 133 | 2 | 3 |
| January 2023 | $139M | 124 | 2 | 1 |
| January 2022 | $153M | 117 | 2 | 1 |
| March 2021 | $127M | 117 | 2 | 1 |
Besides its headquarters, Spring Capital Management has 2 offices (2 private residences, listed without an address), with 1 listed address in Texas.
Texas · 1 listed address
- 600 S. Tyler, Suite 1515, AmarilloHQ
Other business names
Spring Capital Management has reported 1 other business name to the SEC.
- Sage Asset Management, LLC
Contact and registration details
- Legal name
- Spring Capital Management, LLC
- Headquarters
- 600 S. Tyler, Suite 1515, Amarillo, TX 79101
- Website
- springcapitalmanagement.com
- Phone
- 806-322-5000
- SEC file
- 801-119676
- Structure
- Texas LLC
- Fiscal year end
- December
Spring Capital Management uses Charles Schwab ($223M) as custodian for its separately managed accounts. Spring Capital Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $223M100%
At year end, Spring Capital Management’s separately managed accounts were mostly in stocks (92%). Its reported 13F holdings for the quarter ended 30 June 2026 total $205M across 55 positions; the largest are Apple Inc. (8.3%), Eaton Corp. PLC (6.5%) and Deere & CO (5.6%).
What the accounts hold
- Stocks92%
- Bonds5%
- Cash3%
Reported 13F holdings
- $205M
- Reported 13F value
- 55
- Positions
- 52.8%
- In the 10 largest
- +3.8%
- Value vs. prior quarter
- Apple Inc.8.3%
- Eaton Corp. PLC6.5%
- Deere & CO5.6%
- Johnson & Johnson5.4%
- WW Grainger Inc.5.2%
- Qualcomm Inc.5.2%
- Walmart Inc.4.7%
- Oracle Corp.4.2%
- Visa Inc. · Com CL A4.0%
- L3harris Technologies Inc.3.7%
Together, the ten largest are 52.8% of reported value.
How many clients does Spring Capital Management have?
Spring Capital Management has 139 clients and manages $223 million for them, as of February 2026. They include 78 high-net-worth individuals, 54 individual clients, and 7 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 February 2026
What services does Spring Capital Management offer?
Spring Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Spring Capital Management charge?
Spring Capital Management charges 1.50% a year for its ADEPT Wrap Fee Program. The fee is billed in advance or in arrears, is negotiable and requires an account of at least $1,000,000.
Which custodians does Spring Capital Management use?
Spring Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $223M. 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 February 2026
How many financial advisors does Spring Capital Management have?
Spring Capital Management has 2 investment adviser representatives registered with state securities authorities, out of 2 employees, and 2 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 2 employees are 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 Spring Capital Management invest in?
At the end of its last fiscal year, Spring Capital Management’s separately managed accounts held 92% exchange-traded equities, 5% U.S. government and agency bonds and 3% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Spring Capital Management have a minimum investment?
Yes, Spring Capital Management’s minimum account size for its ADEPT Wrap Fee Program is $1M.
Who owns Spring Capital Management?
Spring Capital Management’s direct owners are Richard McElreath (75% or more) and Jennifer McElreath (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 24 February 2026
How does Spring Capital Management get paid?
Spring 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
How do I contact Spring Capital Management?
Spring Capital Management’s main office is at 600 S. Tyler, Suite 1515, Amarillo, TX 79101. Its phone number is 806-322-5000. Its website is springcapitalmanagement.com.