{"url":"https://nivawealth.com/firms/turtle-creek-management-140212","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/140212","regulatoryAum":4280497349,"crd":"140212","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"2546664","suffix":null,"lastName":"KISTLER","firstName":"PHILIP","middleName":"CORDER 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LLC","displayName":"Turtle Creek Management","slug":"turtle-creek-management-140212","website":"https://turtlecreektrust.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/140212/3c8d1a2cb6115c43-r1.webp","tone":"light","width":809,"height":200,"sourceUrl":"https://turtlecreektrust.com/","sourceLabel":"Turtle Creek Trust, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/turtle-creek-management-llc/","founded":null,"organization":"Texas limited liability company","fiscalYearEnd":"December","headquarters":{"street":"3838 Oak Lawn Ave, Suite 1650","city":"Dallas","state":"TX","stateName":"Texas","country":"United States","postalCode":"75219"},"tradeNames":["Turtle Creek Trust"],"registration":{"secApproved":"17 May 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Financial Services LLC","shortName":"Fidelity","location":"Jersey City, NJ","smaAssets":2590088497}],"custodyNote":"Turtle Creek Management has custody of $1.61B in client assets for 104 clients.","leadership":[{"name":"Sarah Wood","title":"Chief Compliance Officer","crd":"5928601"},{"name":"Philip Kistler","title":"Manager","crd":"2546664"},{"name":"Richard Knocke","title":"Manager","crd":"2586086"}],"ownership":[{"label":"TCTC Holdings, LLC","detail":"Sole member in the 75% or more ownership band and a control person, since December 2009."},{"label":"Philip Kistler","detail":"Indirect owner: a manager and member of TCTC Holdings, LLC in the 50% to 75% band and a control person, since December 2009.","parent":"TCTC Holdings, LLC"},{"label":"Richard Knocke","detail":"Indirect owner: a manager and member of TCTC Holdings, LLC in the 50% to 75% band and a control person, since December 2009.","parent":"TCTC Holdings, LLC"}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Texas","offices":1,"addresses":[{"street":"3838 Oak Lawn Ave, Suite 1650","city":"Dallas","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"214-468-0100","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":78},{"label":"U.S. government/agency bonds","percent":2},{"label":"Investment grade corporate bonds","percent":2},{"label":"Non-investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":5},{"label":"Cash and cash equivalents","percent":12}],"privateFunds":0},"sources":{"adv1FilingDate":"30 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/140212/PDF/140212.pdf","brochureDate":"30 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032334","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Turtle Creek Management have?","answer":"Turtle Creek Management has 101 clients and manages $4.28 billion for them, as of March 2026. They include 96 high-net-worth individuals and 5 individual clients.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Turtle Creek Management offer?","answer":"Turtle Creek Management provides portfolio management for individuals and small businesses 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":"How much does Turtle Creek Management charge?","answer":"Turtle Creek Management charges 0.50%–1.00% for its Separately Managed Accounts. The brochure does not state whether the rate is annual. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and requires an account of at least $1,000,000.","source":"TCM FORM ADV 2A MARCH 2026, filed 30 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Turtle Creek Management use?","answer":"Turtle Creek Management’s separately managed account assets are held at National Financial Services LLC (Jersey City, NJ), with $2.59B. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Turtle Creek Management have?","answer":"Turtle Creek Management has 3 investment adviser representatives registered with state securities authorities, out of 10 employees, and 6 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 Turtle Creek Management invest in?","answer":"At the end of its last fiscal year, Turtle Creek Management’s separately managed accounts held 78% exchange-traded equities, 12% cash and equivalents, 5% registered funds (mutual funds, ETFs, BDCs), 2% U.S. government and agency bonds, 2% investment grade corporate bonds and 1% high-yield corporate bonds.","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":"Does Turtle Creek Management have a minimum investment?","answer":"Yes, Turtle Creek Management’s minimum account size for its Separately Managed Accounts is $1M.","source":"TCM FORM ADV 2A MARCH 2026, filed 30 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Who owns Turtle Creek Management?","answer":"Turtle Creek Management is owned through a holding company by Philip Kistler and Richard Knocke. Its direct owner is TCTC Holdings, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Turtle Creek Management get paid?","answer":"Turtle Creek 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Turtle Creek Management registered with the SEC?","answer":"Yes, Turtle Creek Management has been registered with the SEC as an investment adviser since 17 May 2006. Its CRD number is 140212 and its SEC file number is 801-66626.","source":"Form ADV Part 1A, Item 1, filed 30 March 2026; IAPD firm record","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Turtle Creek Management?","answer":"Turtle Creek Management’s main office is at 3838 Oak Lawn Ave, Suite 1650, Dallas, TX 75219. Its phone number is 214-468-0100. Its website is turtlecreektrust.com.","source":"Form ADV Part 1A, Item 1.F, filed 30 March 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. 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."}