Form D · Hedge Fund

Independent Return, LLC

Boston, MA · CIK 0001475397

Offering snapshot reported Feb 10, 2026 · SEC filing

Reported sold: $2.57B
Investors reported: 970
Minimum accepted: $100K
First sale: Nov 1, 2009

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$2,217,452,902 → $2,569,406,145
Reported investors1,097 → 970

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Feb 10, 2026	Amendment	$2,569,406,145	$351,953,243vs Mar 10, 2025	970	SEC filing
Mar 10, 2025	Amendment	$2,217,452,902	$295,966,940vs Jan 12, 2024	1,097	SEC filing
Jan 12, 2024	Amendment	$1,921,485,962	$507,073,844vs Jan 26, 2023	860	SEC filing
Jan 12, 2024	Amendment	$1,921,485,962	$507,073,844vs Jan 26, 2023	860	SEC filing
Jan 26, 2023	Amendment	$1,414,412,118	$202,314,479vs Mar 1, 2021	751	SEC filing
Mar 1, 2021	Amendment	$1,212,097,639	$33,466,270vs May 6, 2020	586	SEC filing
May 6, 2020	Amendment	$1,178,631,369	$12,675,000vs Feb 14, 2020	551	SEC filing
Feb 14, 2020	Amendment	$1,165,956,369	$47,312,076vs Mar 13, 2019	539	SEC filing
Mar 13, 2019	Amendment	$1,118,644,293	$137,856,197vs Feb 28, 2018	505	SEC filing
Feb 28, 2018	Amendment	$980,788,096	$94,780,250vs Feb 13, 2017	434	SEC filing
Feb 13, 2017	Amendment	$886,007,846	$106,464,286vs Feb 24, 2016	396	SEC filing
Feb 24, 2016	Amendment	$779,543,560	$231,606,606vs Feb 18, 2015	363	SEC filing
Feb 18, 2015	Amendment	$547,936,954	$21,405,093vs Mar 11, 2014	295	SEC filing
Mar 11, 2014	Amendment	$526,531,861	$128,955,544vs Feb 27, 2013	271	SEC filing
Feb 27, 2013	Amendment	$397,576,317	$46,430,200vs Feb 8, 2012	231	SEC filing
Feb 8, 2012	Amendment	$351,146,117	$203,771,807vs Feb 24, 2011	194	SEC filing
Feb 24, 2011	Amendment	$147,374,310	No comparison	149	SEC filing
Oct 30, 2009	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-135721

Source: Form D, filed Feb 10, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

INDEPENDENT RETURN, LLC

Investment adviser: SCS CAPITAL MANAGEMENT LLC

Gross asset value: $1.95B
Beneficial owners: 659
ADV minimum commitment: $100K

Reported in Form ADV on Jul 14, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator ULTIMUS LEVERPOINT PRIVATE FUND SOLUTIONS CLIFTON PARK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor DELOITTE & TOUCHE LLP NEW YORK, New York, United States

Custodian FIDELITY BROKERAGE SERVICES LLC BOSTON, Massachusetts, United States Related to adviser: No

Custodian JPMORGAN CHASE BANK, N.A. NEWARK, Delaware, United States Related to adviser: No

Custodian MANUFACTURERS AND TRADERS TRUST COMPANY BUFFALO, New York, United States Related to adviser: No

Marketer FABIAN BARROS MONTEVIDEO, Uruguay Related to adviser: No

Provider details

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

DELOITTE & TOUCHE LLP
PCAOB 34

FIDELITY BROKERAGE SERVICES LLC
SEC 8-23292 · LEI 549300JRHF1MHHWUAW04

MANUFACTURERS AND TRADERS TRUST COMPANY
LEI WWB2V0FCW3A0EE3ZJN75

Filing source

Form ADV 2119435 · Jul 14, 2026 · Schedule D 7.B.(1), fund 805-5594243144

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

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Antony Abbiati	Executive
Stephen Carlson	Executive
Peter Mattoon	Executive
Joseph Mc Cuine	Executive
N/A Scs Capital Management Llc	Promoter
Scs Capital Management Llc Scs Capital Management Llc	Executive
Llc Scs Financial Services,	Executive
Marcelo Vedovatto	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

888 Boylston Street Suite 1010
Boston, MA, 02199