Tourmaline Capital Management LLC
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client assets under management
$4,499,333
Clients
11
27% high-net worth
Advisors
1
of 1 employees
Firm type
Independent
1 advisor
Fewer clients per advisor generally means more personalized, proactive service. Higher ratios may reflect streamlined models or lower minimums.
Clients per advisor
11
LowAverage account size
$409,030
About
Tourmaline Capital Management provides investment advisory services to individual clients, offering portfolio management for brokerage, trust and retirement accounts on both discretionary and non-discretionary bases. The firm directs clients to external custodians for custody and performance reporting rather than holding client assets itself.
Portfolios are built around client risk tolerance and investment goals, but the firm notes that unrelated client accounts can include similar holdings driven by its investment philosophy. Investment analysis ranges from macroeconomic themes to company-level research and primarily uses individual equities, exchange-traded funds and money market funds, with foreign exposure restricted to U.S.-traded instruments such as American Depository Receipts.
The firm reported about $4.5 million in assets under management as of December 31, 2025, and maintains soft-dollar arrangements with Shareholders Service Group, Interactive Brokers and Charles Schwab to obtain portfolio management software; those benefits are applied across all client accounts and can influence broker selection and trade routing. The principal’s graduate training in Pacific international affairs, the explicit limitation of foreign investments to U.S.-listed vehicles, and a policy of not voting client proxies are operational features that distinguish the firm from many peers.
Client services
Portfolio management
Expertise
Active portfolio management
Fee options
1% annually (0.25% quarterly)
Up to $250 per hour for non-discretionary advice
Main office location
Tourmaline Capital Management LLC
San Francisco CA, United States
Number of offices
1
Most active in
Tourmaline Capital Management LLC has reported serving >5 clients in these states in the last 12 months.
California · Texas
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
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