Cynosure Group, LLC is an SEC-registered investment adviser based in Salt Lake City, UT that reports managing 3 hedge funds on Form ADV. It reports $9.8 billion in regulatory assets under management. Its private funds, of all types, hold $3.5 billion in gross assets. Its disclosed U.S. stock holdings returned an estimated +4.7% 2026 YTD through Jun 30 (S&P 500: +9.5%), based on 13F filings. Over a longer period they returned an estimated +23.5% from Q3 2024 to Q2 2026, compared with +37.2% for the S&P 500, based on 13F filings.
- Regulatory assets under management
- $9.8 billionForm ADV Item 5.F
- Gross assets of private funds
- $3.5 billionAll private fund types, Form ADV
- Hedge funds managed
- 360 private funds in total
- Employees
- 71Form ADV Item 5.A
- Registration
- SEC-registered adviserCRD 281399
- Latest Form ADV
- 09/24/2026Disciplinary disclosures: none reported
Estimated 13F portfolio performance
Est. 2026 YTD+4.7%Through Q2 2026 · S&P 500 +9.5%
Est. 2-year return+23.5%Q3 2024 – Q2 2026
S&P 500+37.2%Same quarters, price only
13F holdings$665.5 million180 positions, 2026-06-30
| Quarter | Est. 13F return | S&P 500 |
|---|---|---|
| Q2 2026 | +7.9% | +14.8% |
| Q1 2026 | -2.9% | -4.6% |
| Q4 2025 | +0.5% | +2.4% |
| Q3 2025 | +4.7% | +7.8% |
| Q2 2025 | +8.9% | +10.4% |
| Q1 2025 | -2.8% | -4.5% |
| Q4 2024 | +0.9% | +2.1% |
| Q3 2024 | +4.9% | +5.4% |
Estimate of the firm's disclosed long U.S. stock portfolio from its quarterly 13F filings, holding each quarter-end portfolio to the next quarter-end at prices implied by all 13F filers. It is a price return before dividends and fees, ignores shorts, options, bonds, cash and trading within the quarter, and is not the return of any fund. Disclosures
Largest disclosed holdings
- Ishares 0-3 Month Treasury Bon$76.4 million
- SPDR S&P 500 ETF TR$70.1 million
- Ishares Russell 1000 Growth$61.7 million
- Ishares Short Treasury Bond$60.2 million
- Vanguard Russell 1000 Growth$29.7 million
- Ishares Core S&P 500 ETF$27.6 million
- Vanguard S&P 500 ETF$23.0 million
- Ge Aerospace Com New$20.2 million
- Circle Internet Group Inc Com CL A$18.6 million
- Union Pac Corp Com$17.4 million
As of 2026-06-30, from 13F filing by Cynosure Group, LLC.
Hedge funds filing Form D (2)
Fund
First sale
Raised
Investors
Minimum
YTD performance
Covariance Offshore Feeder, LP
Salt Lake City, UTEmerging506(c)
First saleFeb 2024
Raised$30.6M
Investors9
MinimumNone set
YTD performance+4.7%13F est. YTD · thru Q2 2026
Covariance Onshore Feeder, LP
Salt Lake City, UTEmerging506(c)
First saleFeb 2024
Raised$23.1M
Investors29
MinimumNone set
YTD performance+4.7%13F est. YTD · thru Q2 2026
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
Private equity funds filing Form D (5)
Fund
First sale
Raised
Investors
Minimum
Offering
Cynosure Savant CV LP
Salt Lake City, UT
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Cynosure Savant CV Feeder LP
Salt Lake City, UT
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Cynosure Partners IV Offshore, LP
Salt Lake City, UT506(c)
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(c)
Cynosure Partners IV, LP
Salt Lake City, UT506(c)
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(c)
CP III DECKED Feeder, LLC
Salt Lake City, UT
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)
Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.
Private funds reported on Form ADV (38)
Fund
Gross assets
Minimum
Owners
Adviser
Cynosure Partners 2020, LP
Delaware, United StatesPrivate equity fund
Gross assets$630M
Minimum$150K
Owners139
AdviserCynosure Group, LLC
Cynosure Partners III, LP
Delaware, United StatesPrivate equity fund
Gross assets$522M
Minimum$100K
Owners104
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2020 Absolute Income
Delaware, United StatesPrivate fund
Gross assets$160M
Minimum$10K
Owners21
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2021 Diversified Income
Delaware, United StatesPrivate fund
Gross assets$149M
Minimum$1.0M
Owners7
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Steward
Delaware, United StatesPrivate equity fund
Gross assets$116M
Minimum$2K
Owners38
AdviserCynosure Group, LLC
Cynosure Wealth Partners, LLC - Classes Sc-1 and Sc-2
Delaware, United StatesPrivate equity fund
Gross assets$82.5M
Minimum$1K
Owners29
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2022 Fs Growth
Delaware, United StatesVenture capital fund
Gross assets$65.0M
Minimum$3K
Owners64
AdviserCynosure Group, LLC
Cynosure Avalon Buildgroup, LLC
Delaware, United StatesPrivate fund
Gross assets$64.1M
Minimum$3K
Owners108
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Sg Credit
Delaware, United StatesPrivate equity fund
Gross assets$61.4M
Minimum$2K
Owners50
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2021 Venture Membership Interests
Delaware, United StatesVenture capital fund
Gross assets$46.7M
Minimum$100K
Owners9
AdviserCynosure Group, LLC
Cynosure Partners 2020 Pv, LP
Delaware, United StatesPrivate equity fund
Gross assets$44.0M
Minimum$50K
Owners67
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 RE Assets
Delaware, United StatesReal estate fund
Gross assets$42.8M
Minimum$5K
Owners20
AdviserCynosure Group, LLC
Cynosure Fernweh, LLC - Class Ais
Delaware, United StatesPrivate equity fund
Gross assets$41.1M
Minimum$60K
Owners16
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2021 RE Membership Interests
Delaware, United StatesReal estate fund
Gross assets$40.3M
Minimum$5K
Owners25
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2020 Venture
Delaware, United StatesVenture capital fund
Gross assets$36.7M
Minimum$180K
Owners11
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2018 Anglo
Delaware, United StatesPrivate equity fund
Gross assets$34.9M
Minimum$2K
Owners26
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2018 New Mountain
Delaware, United StatesPrivate fund
Gross assets$33.6M
Minimum$150K
Owners9
AdviserCynosure Group, LLC
Cynosure Wealth Partners, LLC - Class P
Delaware, United StatesPrivate equity fund
Gross assets$33.2M
Minimum$2K
Owners24
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Gmp
Delaware, United StatesPrivate equity fund
Gross assets$31.4M
Minimum$2K
Owners37
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2018 Blackstone
Delaware, United StatesPrivate fund
Gross assets$28.0M
Minimum$200K
Owners8
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2018 Golub
Delaware, United StatesPrivate fund
Gross assets$27.8M
Minimum$150K
Owners7
AdviserCynosure Group, LLC
Cynosure Avalon Holdings, LLC
Delaware, United StatesPrivate equity fund
Gross assets$24.5M
Minimum$1K
Owners18
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Invictus
Delaware, United StatesPrivate fund
Gross assets$22.0M
Minimum$100K
Owners9
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2020 AG Credit
Delaware, United StatesPrivate fund
Gross assets$21.7M
Minimum$200K
Owners7
AdviserCynosure Group, LLC
Cynosure Fernweh, LLC - Equity Class
Delaware, United StatesPrivate equity fund
Gross assets$20.0M
Minimum$100K
Owners19
AdviserCynosure Group, LLC
Cynosure Fenway Summer, LLC
Utah, United StatesVenture capital fund
Gross assets$16.1M
Minimum$100K
Owners7
AdviserCynosure Group, LLC
Cynosure Gps, LLC - Class a
Delaware, United StatesPrivate equity fund
Gross assets$9.5M
Minimum$2K
Owners8
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2018 Avenue Asia
Delaware, United StatesPrivate fund
Gross assets$5.5M
Minimum$100K
Owners6
AdviserCynosure Group, LLC
Cynosure Gps, LLC - Class B
Delaware, United StatesPrivate equity fund
Gross assets$1.5M
Minimum$1K
Owners15
AdviserCynosure Group, LLC
Cynosure Gps, LLC - Classes C1 and C2
Delaware, United StatesPrivate equity fund
Gross assets$10K
Minimum$2K
Owners12
AdviserCynosure Group, LLC
Cynosure Gps, LLC - Classes D1 and D2
Delaware, United StatesPrivate equity fund
Gross assets$9K
Minimum$1K
Owners15
AdviserCynosure Group, LLC
4c Gps III, LP
Delaware, United StatesPrivate equity fund
Gross assets$2K
Minimum$810.0
Owners56
AdviserCynosure Group, LLC
4c Gps II, LP
Delaware, United StatesPrivate equity fund
Gross assets$2K
Minimum$291.0
Owners50
AdviserCynosure Group, LLC
4c Gps I, LP
Delaware, United StatesPrivate equity fund
Gross assets$66.0
Minimum$1K
Owners58
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Avenue Value
Delaware, United StatesPrivate fund
Gross assets$0
Minimum$75K
Owners15
AdviserCynosure Group, LLC
Cynosure Private Credit Fund, LP
Delaware, United StatesPrivate fund
Gross assets$0
MinimumNone set
Owners0
AdviserCynosure Group, LLC
Covariance Master Fund, LP
Cayman IslandsHedge fund
Gross assets$0
MinimumNone set
Owners0
AdviserCynosure Group, LLC
Cynosure Investment Partners, LLC - 2019 Visible
Delaware, United StatesPrivate equity fund
Gross assets$0
Minimum$3K
Owners55
AdviserCynosure Group, LLC
As reported in the adviser's Form ADV filed Dec 20, 2024. Funds also listed from Form D are shown above.
Fund vehicles: feeder funds and single-deal vehicles (7)
Fund
Gross assets
Minimum
Owners
Adviser
Cynosure Partners 2020 Co-Investment, LLC Series C
Delaware, United StatesPrivate equity fund
Gross assets$206M
Minimum$4K
Owners91
AdviserCynosure Group, LLC
Cynosure Partners 2020 Co-Investment, LLC Series B
Delaware, United StatesPrivate equity fund
Gross assets$58.7M
Minimum$30K
Owners48
AdviserCynosure Group, LLC
Cynosure Partners 2020 Co-Investment, LLC Series a
Delaware, United StatesPrivate equity fund
Gross assets$27.3M
Minimum$10K
Owners27
AdviserCynosure Group, LLC
Cynosure Partners 2020 Pv, LP Co-Investment
Delaware, United StatesPrivate equity fund
Gross assets$1.7M
Minimum$250K
Owners16
AdviserCynosure Group, LLC
Covariance Offshore Feeder, LP
Cayman IslandsHedge fund
Gross assets$0
MinimumNone set
Owners0
AdviserCynosure Group, LLC
Cynosure Partners III, Co-Invest - Series a
Delaware, United StatesPrivate equity fund
Gross assets$0
MinimumNone set
Owners0
AdviserCynosure Group, LLC
Covariance Onshore Feeder, LP
Delaware, United StatesHedge fund
Gross assets$0
MinimumNone set
Owners0
AdviserCynosure Group, LLC
Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.
From SEC filings. Firm data comes from the SEC's Form ADV data as of Oct 2, 2026; performance estimates come from Form 13F. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures