RIA profile

Ativo Capital Management, LLC

CHICAGO, ILCRD 125303Registration Status: ApprovedEffective since January 31, 2006SEC # 801-65975Latest Form ADV October 22, 2026
Assets Under Management
$863M
Employees
8
Offices
1 office
Total Clients
17

Ativo Capital Management, LLC's Form ADV filing dated 2026-10-22 reports $862,728,498 in regulatory assets under management, $862,728,498 discretionary and $0 non-discretionary, 21 accounts, and 8 employees.

Associated firm names

3 names listed
  • ATIVO CAPITAL MANAGEMENT, LLC
  • CALLARD ASSET MANAGEMENT, LLC
  • CALLARD ASSET MANAGEMENT

Leadership

5 roles identified
CEORicardo Bekin
CCOShiqing Huang
COOAdan Galvan

Advisory services offered

4 types reported
Other advisory services
Portfolio management for businesses
Portfolio management for individuals and small businesses

Fee models offered

3 types reported
Asset based fees
Other fee arrangements
Performance-based fees

Offices & Contact

Primary office

CHICAGO, Illinois, United States

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Primary office regionOther reported regions
Illinois

CHICAGOPrimary office

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

1 office records listed · 1 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$863Mas of October 22, 2026
Discretionary100.0%
$863M
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentGovernment represent 52.9% of total clients.
Top client categories% of clientsClients
1
Government
52.9%
9
2
HNWI
35.3%
6
3
Pooled Investment Vehicles
11.8%
2
Categories with <5 clients
ATIVO'S OWN ACCOUNTS<5 clients
Pension and profit sharing plans<5 clients

Assets Under Management

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$863M
Total Accounts21
10Y AUM Change$-923M (-51.7%)

Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees8
Clients per Employee2:1
10Y Employee Change-4 (-33.3%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.

Private Funds

Private funds reported by Ativo Capital Management, LLC

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Custodians

Reported custodian relationships by Ativo Capital Management, LLC

  • STATE STREET BANK AND TRUST CO.

    $331,361,200

  • THE NORTHERN TRUST

    $356,510,852

These custodians are disclosed for separately managed accounts under Form ADV’s 10% reporting threshold. This is not a complete list of custodians for all client assets.


Ownership

Reported direct and indirect relationships by Ativo Capital Management, LLC

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
ATIVO HOLDINGS, LLCDirect owner · Schedule AInterest in ATIVO CAPITAL MANAGEMENT, LLC
50% to < 75%
THE PINECLIFF TRUSTDirect owner · Schedule AInterest in ATIVO CAPITAL MANAGEMENT, LLC
10% to < 25%
MICHAEL STANLEY BROOKSDirect owner · Schedule AInterest in ATIVO CAPITAL MANAGEMENT, LLC
< 5%
ADAN GALVANDirect owner · Schedule AInterest in ATIVO CAPITAL MANAGEMENT, LLC
< 5%
HUAN KIAT TANGDirect owner · Schedule AInterest in ATIVO CAPITAL MANAGEMENT, LLC
< 5%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Ativo Capital Management, LLC.

Reported ownership and control details

10 entries

Compliance & Disclosures

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix database. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.