Tran Capital Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, and portfolio management for institutions.
Tran Capital Management reports 348 clients. They include 215 individual clients, 78 high-net-worth individuals and 19 other clients. Of its assets, 98.1% ($874M across 329 accounts) are managed with discretion; $16.5M across 19 accounts are not. A wrap fee program the firm both sponsors and manages holds $84.3M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 62% | 23% |
| High-net-worth individuals | 22% | 39% |
| Investment companies | <1% | 3% |
| Pension and profit-sharing plans | 1% | 2% |
| Charitable organizations | 5% | 19% |
| Other client typesCorporations and other businesses; Other | 9% | 16% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 215 | $203M | 22.8% | $943K |
| High-net-worth individuals | 78 | $343M | 38.5% | $4.4M |
| Investment companies | 1 | $24.6M | 2.8% | $24.6M |
| Pension and profit-sharing plans | 4 | $13.5M | 1.5% | $3.37M |
| Charitable organizations | 17 | $167M | 18.7% | $9.8M |
| Corporations and other businesses | 14 | $123M | 13.8% | $8.8M |
| Other | 19 | $16.5M | 1.9% | $868K |
| Total | 348 | $890M | 100% | $2.56M |
- Clients
- 215
- Regulatory AUM
- $203M
- AUM share
- 22.8%
- Avg. per client
- $943K
- Clients
- 78
- Regulatory AUM
- $343M
- AUM share
- 38.5%
- Avg. per client
- $4.4M
- Clients
- 1
- Regulatory AUM
- $24.6M
- AUM share
- 2.8%
- Avg. per client
- $24.6M
- Clients
- 4
- Regulatory AUM
- $13.5M
- AUM share
- 1.5%
- Avg. per client
- $3.37M
- Clients
- 17
- Regulatory AUM
- $167M
- AUM share
- 18.7%
- Avg. per client
- $9.8M
- Clients
- 14
- Regulatory AUM
- $123M
- AUM share
- 13.8%
- Avg. per client
- $8.8M
- Clients
- 19
- Regulatory AUM
- $16.5M
- AUM share
- 1.9%
- Avg. per client
- $868K
Total
- Clients
- 348
- Regulatory AUM
- $890M
- AUM share
- 100%
- Avg. per client
- $2.56M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
Tran Capital Management is paid through a percentage of assets under management. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
Tran Capital Management, LLC owns 50% to 75% of Tran Capital Management and is in turn owned by Quoc Tran (50–75%) and Eric Winterhalter (25–50%). The leadership team of Tran Capital Management includes President Eric Winterhalter and Chief Investment Officer Quoc Tran. It has 7 employees, 3 of them in advisory roles.
Leadership
- Eric WinterhalterPresident and Chief Compliance Officer, Managing Partner
- Michael IMPartner and Director of Research
- Quoc TranChairman and Chief Investment Officer, Managing Partner
Staff
- 7 employees
- 3 in advisory functions
- 2 state-registered reps
- 1 broker-dealer rep
- Owns 50% to 75% of Tran Capital Management, L.P.
Tran Capital Management, LLC
Control person · since May 2017
- Owns 50% to 75% of Tran Capital Management, LLC
Quoc Tran
Control person · since January 2007
- Owns 25% to 50% of Tran Capital Management, LLC
Eric Winterhalter
Control person · since December 2014
- Owns 25% to 50% of Tran Capital Management, L.P.
Tran Capital MGL, LLC
Control person · since May 2017
- Owns 75% or more of Tran Capital MGL, LLC
McCarthy Group, LLC
Control person · since January 2007
Tran Capital Management’s regulatory assets fell from $1.17B (June 2021) to $890M (February 2026); clients were 348 in both filings and employees fell from 11 to 7. In 2019, Underhill Investment Management joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $890M | 348 | 7 | 1 |
| April 2025 | $959M | 329 | 7 | 1 |
| February 2024 | $945M | 337 | 7 | 1 |
| March 2023 | $868M | 363 | 8 | 1 |
| June 2022 | $1.44B | 378 | 8 | 1 |
| June 2021 | $1.17B | 334 | 11 | 1 |
Firms that joined
20191 joined
- Underhill Investment ManagementNo filed AUM
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Tran Capital Management has 0 offices, with 1 listed address in California.
California · 1 listed address
- 1000 4th St, Suite 800, San RafaelHQ
Contact and registration details
- Legal name
- Tran Capital Management, L.P.
- Headquarters
- 1000 4th St, Suite 800, San Rafael, CA 94901
- Website
- trancapital.com
- Phone
- 415-461-3800
- @tran-capital-management
- SEC file
- 801-9747
- Structure
- California limited partnership
- Fiscal year end
- December
Tran Capital Management uses Fidelity ($233M, 47%), Charles Schwab ($165M, 33%) and First Financial Trust ($101M, 20%) as custodians for its separately managed accounts. Tran Capital Management does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $233M47%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $165M33%
- First Financial TrustFirst Financial Trust · Abilene, TX · $101M20%
At year end, Tran Capital Management’s separately managed accounts were mostly in stocks (95%). Its reported 13F holdings for the quarter ended 30 June 2026 total $869M across 66 positions; the largest are ARM Holdings PLC Sponsored ADR (9.9%), Palo Alto Networks Inc. (8.0%) and Nvidia Corp. (6.7%).
What the accounts hold
- Stocks95%
- Cash5%
Reported 13F holdings
- $869M
- Reported 13F value
- 66
- Positions
- 54.3%
- In the 10 largest
- +19.3%
- Value vs. prior quarter
- ARM Holdings PLC Sponsored ADR · ADR9.9%
- Palo Alto Networks Inc. · CS8.0%
- Nvidia Corp. · CS6.7%
- Amazon Com Inc. · CS4.8%
- Alphabet Inc. Cap Stk CL A · CS4.4%
- Ferguson Enterprises Inc. · CS4.4%
- GE Vernova LLC · CS4.1%
- Danaher Corp. Del · CS4.1%
- Microsoft Corp. · CS4.0%
- Talen Energy Corp. · CS4.0%
Together, the ten largest are 54.3% of reported value.
How many clients does Tran Capital Management have?
Tran Capital Management has 348 clients and manages $890 million for them, as of February 2026. They include 215 individual clients, 78 high-net-worth individuals and 19 other clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 February 2026
What services does Tran Capital Management offer?
Tran Capital Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, 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 Tran Capital Management use?
Tran Capital Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $233M, Charles Schwab & Co., Inc. (San Francisco, CA), with $165M and First Financial Trust (Abilene, TX), with $101M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 February 2026
How many financial advisors does Tran Capital Management have?
Tran Capital Management has 2 investment adviser representatives registered with state securities authorities, out of 7 employees, and 3 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 0 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 Tran Capital Management invest in?
At the end of its last fiscal year, Tran Capital Management’s separately managed accounts held 95% exchange-traded equities and 5% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Tran Capital Management?
Tran Capital Management is owned through holding companies by Quoc Tran, Eric Winterhalter and McCarthy Group, LLC. Its direct owners are Tran Capital Management, LLC (50% to 75%) and Tran Capital MGL, LLC (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 23 February 2026
How does Tran Capital Management get paid?
Tran 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
Is Tran Capital Management registered with the SEC?
Yes, Tran Capital Management has been registered with the SEC as an investment adviser since 16 February 1974. Its CRD number is 107049 and its SEC file number is 801-9747.
Source: Form ADV Part 1A, Item 1, filed 23 February 2026; IAPD firm record
How do I contact Tran Capital Management?
Tran Capital Management’s main office is at 1000 4th St, Suite 800, San Rafael, CA 94901. Its phone number is 415-461-3800. Its website is trancapital.com.