Investment adviser · CRD 322950

FIRST PRINCIPLES GROUP

Investment adviser filing (IA)

FIRST PRINCIPLES GROUP MANAGEMENT, LLC

· Form ADV filed May 13, 2026

Regulatory AUM: $1.64B
Client accounts: 23
Employees: 2
Advisory professionals: 2

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	23	$1,636,018,564	100.0%

Filing source

Form ADV 2104383 · May 13, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

23 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

FPG AD ASTRA V, LLCPrivate Equity Fund · Last reported May 13, 2026$258MGross asset value

Form D fundraising filings

FPG Ad Astra V, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-6958283919
Reported beneficial owners: 125
Minimum commitment: $126K
Form D file number: 021-494103

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FPG AD CLARITAS I, LPVenture Capital Fund · Last reported May 13, 2026$213MGross asset value

Form D fundraising filings

FPG Ad Claritas I, LP

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-7302974396
Reported beneficial owners: 81
Minimum commitment: $40.4K
Form D file number: 021-513017

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FPG AD ASTRA IV, LLCPrivate Equity Fund · Last reported May 13, 2026$182MGross asset value

Form D fundraising filings

FPG Ad Astra IV, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-3747534517
Reported beneficial owners: 85
Minimum commitment: $303K
Form D file number: 021-494184

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FIRST PRINCIPLES GROUP FUND II OCISLY, LLCPrivate Equity Fund · Last reported May 13, 2026$181MGross asset value

Form D fundraising filings

First Principles Group Fund II OCISLY, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-9053692338
Reported beneficial owners: 112
Minimum commitment: $50.6K
Form D file number: 021-448616

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FPG FUND IV, LLCPrivate Equity Fund · Last reported May 13, 2026$137MGross asset value

Form D fundraising filings

FPG Fund IV, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-1523585757
Reported beneficial owners: 63
Minimum commitment: $51.3K
Form D file number: 021-472860

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FIRST PRINCIPLES GROUP FUND I, LLCPrivate Equity Fund · Last reported May 13, 2026$126MGross asset value

Form D fundraising filings

First Principles Group Fund I, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-9364530001
Reported beneficial owners: 40
Minimum commitment: $50.5K
Form D file number: 021-414746

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

FPG AD ASTRA VI, LLCPrivate Equity Fund · Last reported May 13, 2026$94.7MGross asset value

Form D fundraising filings

FPG Ad Astra VI, LLC

Fund administrator CARTA INVESTOR SERVICES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor FRANK, RIMERMAN + CO. LLP SAN JOSE, California, United States

Custodian BREX TREASURY LLC DRAPER, Utah, United States Related to adviser: No

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

BREX TREASURY LLC
SEC 8-70251

Fund details & source

Fund ID: 805-2394193137
Reported beneficial owners: 79
Minimum commitment: $10.6K
Form D file number: 021-502082

Form ADV 2104383 · May 13, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: May 13, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

CRD 322950

Filing source

Form ADV 2104383 · May 13, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.