Investment adviser · CRD 313323

SHRUG, LLC

· Form ADV filed Apr 12, 2026

Adviser-level assets, account counts and staffing figures are unavailable in this filing. View the reported fund disclosures below →

FRANK, RIMERMAN & CO. LLP

Auditor · funds reporting this exact name in the selected filing

These are reported-name connections within this adviser's filing, not a verified global provider identity or market-wide client count.

Private funds & service providers

11 detailed fund records

Largest reported gross asset value first; unreported values last. Gross asset value is fund-level disclosure, distinct from adviser AUM and Form D fundraising. Master and feeder funds may overlap.

SHRUG IV, L.P.Venture Capital Fund$51MGross asset value
Search Form D filings →
Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Auditor FRANK, RIMERMAN & CO. LLP SAN JOSE, California, United States Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

FRANK, RIMERMAN & CO. LLP
PCAOB 1596

Fund details & source
Fund ID
805-8708081402
Reported beneficial owners
104
Minimum commitment
$25K
Form D file number
021-421204

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

SHRUG IV-A, L.P.Venture Capital Fund$26.6MGross asset value
Search Form D filings →
Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Auditor FRANK, RIMERMAN & CO. LLP SAN JOSE, California, United States Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

FRANK, RIMERMAN & CO. LLP
PCAOB 1596

Fund details & source
Fund ID
805-5107023447
Reported beneficial owners
44
Minimum commitment
$25K
Form D file number
021-421204

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

SHRUG III, L.P.Venture Capital Fund$25.5MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No
Fund details & source
Fund ID
805-9126468036
Reported beneficial owners
101
Minimum commitment
$1K
Form D file number
021-379226

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

SHRUG II, L.P.Venture Capital Fund$24MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No
Fund details & source
Fund ID
805-8142871112
Reported beneficial owners
98
Minimum commitment
$50K
Form D file number
021-331087

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

SHRUG OPPORTUNITIES II - FEASTABLES, LPVenture Capital Fund$10MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Marketer AL ADVISORS MANAGEMENT, INC SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes
Fund details & source
Fund ID
805-7685704762
Reported beneficial owners
17
Minimum commitment
$500K
Form D file number
021-510778

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

SPV FUND I, A SERIES OF SHRUG CAPITAL X, LPVenture Capital Fund$2.38MGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Marketer AL ADVISORS MANAGEMENT, INC SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes
Fund details & source
Fund ID
805-2798296349
Reported beneficial owners
80
Minimum commitment
$5K
Form D file number
021-454701

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

NI FUND, A SERIES OF SHRUG OPPORTUNITIES, LPVenture Capital Fund$903KGross asset value

Form D fundraising filings

View filings for the issuer linked by this fund’s reported Form D file numbers.

Fund administrator BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →
Custodian BELLTOWER FUND GROUP, LTD SEATTLE, Washington, United States Related to adviser: No Other funds reporting this name →
Marketer AL ADVISORS MANAGEMENT, INC SAN FRANCISCO, California, United States Related to adviser: No Other funds reporting this name →
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes
Fund details & source
Fund ID
805-3377295810
Reported beneficial owners
7
Minimum commitment
$1K
Form D file number
021-540208

Form ADV 2093494 · Apr 12, 2026 · Schedule D 7.B.(1)

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

Services & filing details

Showing values from the selected filing. Latest observed filing does not establish current registration status.

Filing history · 5 annual filings

Adviser-level financial and staffing figures are unavailable in these annual filings. Select a filing to view its reported funds and providers.

Reported services

Not reported in these imported fields

Compensation

Not reported in these imported fields

Principal office

CRD 313323

Filing source

Form ADV 2093494 · Apr 12, 2026 · Items 1 & 5

Reported by SHRUG, LLC (CRD 313323).

Annual Updating Amendment ERA Report · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.