Investment adviser · CRD 288535

STILLWATER ASSET MANAGEMENT, LLC

Investment adviser filing (IA)

STILLWATER, MN, United States · Form ADV filed Jul 29, 2026

Regulatory AUM: $701M
Client accounts: 8
Employees: 16
Advisory professionals: 6

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	8	$701,423,150	100.0%

Filing source

Form ADV 2121441 · Jul 29, 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

4 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.

LIFTBRIDGE COMMERCIAL FUND 2, LPPrivate Equity Fund · Last reported Jul 29, 2026$322MGross asset value

Form D fundraising filings

Liftbridge Commercial Fund 2, LP

Feeder funds

LIFTBIDGE COMMERCIAL OFFSHORE FUND 2, LTD.

Fund administrator SS&C TECHNOLOGIES INC. EDINA, Minnesota, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP MINNEAPOLIS, Minnesota, United States

Custodian US BANK NATIONAL ASSOCIATION FREDERICK, Maryland, United States Related to adviser: No

Marketer PROBITAS FUNDS GROUP, LLC SAN FRANCISCO, California, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

ERNST & YOUNG LLP
PCAOB 42

PROBITAS FUNDS GROUP, LLC
CRD 115876 · SEC 8-53512

Fund details & source

Fund ID: 805-6904272670
Reported beneficial owners: 43
Minimum commitment: $5M
Form D file number: 021-377272

Form ADV 2121441 · Jul 29, 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.

LBC3 MASTER FUND, LPPrivate Equity Fund · Last reported Jul 29, 2026$137MGross asset value

Feeder funds

LIFTBRIDGE COMMERCIAL FUND 3, LP
LIFTBRIDGE ERISA FUND, LTD.
LIFTBRIDGE ERISA INTERMEDIARY, LP

Fund administrator SS&C TECHNOLOGIES INC. EDINA, Minnesota, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP MINNEAPOLIS, Minnesota, United States

Custodian US BANK NATIONAL ASSOCIATION FREDERICK, Maryland, 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

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-8907798524
Reported beneficial owners: 15
Minimum commitment: $5M

Form ADV 2121441 · Jul 29, 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.

LIFTBRIDGE COMMERCIAL FUND 1, LPPrivate Equity Fund · Last reported Jul 29, 2026$2.8MGross asset value

Feeder funds

LIFTBRIDGE COMMERCIAL OFFSHORE FUND 1, LTD.

Fund administrator SS&C TECHNOLOGIES INC. EDINA, Minnesota, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP MINNEAPOLIS, Minnesota, United States

Custodian US BANK NATIONAL ASSOCIATION FREDERICK, Maryland, 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

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-1902181729
Reported beneficial owners: 36
Minimum commitment: $5M
Form D file number: 021-1713921

Form ADV 2121441 · Jul 29, 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.

LIFTBRIDGE SENIOR LIVING HOLDINGS, LPPrivate Equity Fund · Last reported Apr 11, 2025$3.71MGross asset value

Form D fundraising filings

Liftbridge Senior Living Holdings, LP

Fund administrator SS&C TECHNOLOGIES INC. EDINA, Minnesota, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP MINNEAPOLIS, Minnesota, United States

Custodian US BANK NATIONAL ASSOCIATION FREDERICK, Maryland, 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

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-8894601119
Reported beneficial owners: 3
Minimum commitment: $5M
Form D file number: 021-344084

Form ADV 1978729 · Apr 11, 2025 · 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: Jul 29, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

106 CHESTNUT STREET E
STILLWATER, MN, 55082, United States

CRD 288535

Filing source

Form ADV 2121441 · Jul 29, 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.