CARMEL CAPITAL MANAGEMENT L.L.C.

CRD 120675File 801-61225

APPROVED

Retail clients

Custody

Disclosure events

Filing as of Feb 27, 2026

Feed vintage Aug 17, 2026

Regulatory AUM

$392.0M

Below cohort median (national)

Discretionary AUM

$392.0M

Clients

102

109 accounts

Employees

Below cohort median in CA

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: SFRO
Registration date: Jun 3, 2002
Principal office: 26350 CARMEL RANCHO LANE, SUITE 225, CARMEL, CA, 93923-8734
Phone: 831-625-1375
Website: HTTPS://WWW.CARMELCAPITAL.COM/

Assets & accounts

ADV Item 5F

Total regulatory AUM: $392.0M
Discretionary AUM: $392.0M
Non-discretionary AUM: $0
Discretionary accounts: 109
Non-discretionary accounts: 0
Total accounts: 109
AUM per client: $3.8M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Charitable organizations	Fewer than 5	$263K
High net worth individuals	102	$380.8M
Pension and profit sharing plans	Fewer than 5	$10.6M
Individuals (other than high net worth individuals)	Fewer than 5	$298K

Compensation & activities

ADV Items 5E, 5G

Compensation

Other
Other (described) — CONSULTING FEES
A percentage of assets under your management

Advisory activities

Other advisory activities
Financial planning services
Selection of other advisers
Portfolio management for businesses
Portfolio management for individuals and/or small businesses

Custody

ADV Item 9

Firm Custody Cash: Yes
Firm Custody Assets: No
Firm Custody Clients: No
Firm Custody Securities: No
Related Person Custody Cash: No
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: No

Disclosure events

ADV Item 11

Q11
Q11C2
Q11C4
Q11C5
Q11D2

Filed changes

Date	Field	From	To
Aug 12, 2026	Registration	—	APPROVED

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.