S3 CAPITAL ADVISORS LLC

CRD 322956File 801-135326

APPROVED

Custody

Filing as of Jan 13, 2026

Feed vintage Aug 17, 2026

Regulatory AUM

$3.64B

Top 25% of cohort (national)

Discretionary AUM

$3.53B

Non-discretionary $111.3M

Clients

24 accounts

Employees

Above cohort median in NY

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: NYRO
Registration date: Feb 17, 2026
Principal office: 535 MADISON AVENUE, 19TH FLOOR, NEW YORK, NY, 10022
Phone: 212-300-8800
Website: https://sprucecap.com/

Assets & accounts

ADV Item 5F

Total regulatory AUM: $3.64B
Discretionary AUM: $3.53B
Non-discretionary AUM: $111.3M
Discretionary accounts: 22
Non-discretionary accounts: 2
Total accounts: 24
AUM per client: $165.5M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Pooled investment vehicles	22	$3.55B

Compensation & activities

ADV Items 5E, 5G

Compensation

Other
Other (described) — SEE FORM ADV PART 2A
Performance-based fees
A percentage of assets under your management

Advisory activities

Portfolio management for businesses
Portfolio management for pooled investment vehicles

Custody

ADV Item 9

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

Disclosure events

ADV Item 11

This firm answered no to every Item 11 disclosure question in this filing.

Filed changes

Date	Field	From	To
Aug 17, 2026	Clients	24	22
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.