Five Stone Capital, LLC
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$450,000
Clients
2
Advisors
2
across 2 offices
About
Five Stone Capital operates primarily as the general partner and investment adviser to a single pooled investment vehicle (the Five Stone Capital Fund, L.P.) and also provides portfolio management services to a wrap-fee program. Prospective investors receive offering and subscription materials that set forth investor qualifications and the Fund’s investment guidelines.
The firm’s investment process uses fundamental analysis for stock selection, seeks to limit individual-stock concentration and to choose securities less correlated with the broader market, and manages the Fund on a discretionary basis in accordance with the offering documents. Portfolio holdings are reviewed daily, and investors receive monthly performance updates, quarterly reports and annual audited financial statements with K-1s.
Noteworthy for a supported firm, Five Stone functions as a private fund adviser to a pooled vehicle rather than focusing primarily on individual retail clients, and it employs performance‑based incentive allocations for the Fund that incorporate unrealized gains in allocation calculations. The firm acts as the Fund’s general partner with custody arrangements through a qualified custodian, is relatively small in staff and assets compared with many peers, and permits associated persons to invest alongside the Fund subject to internal trading controls and order aggregation procedures.
Client services
Expertise
Fee options
$0 - $100,000: Minimum fee of unspecified amount for Equity Rate; 1.00% for Mutual Fund/Stocks, ETFs; 0.30% for Fixed Income $100,000 - $250,000: 1.00% Equity Rate; 1.00% Mutual Fund/Stocks, ETFs; 0.30% Fixed Income $250,000 - $500,000: 0.90% Equity Rate; 1.00% Mutual Fund/Stocks, ETFs; 0.30% Fixed Income $500,000 - $750,000: 0.80% Equity Rate; 1.00% Mutual Fund/Stocks, ETFs; 0.30% Fixed Income $750,000 - $1,000,000: 0.75% Equity Rate; 0.75% Mutual Fund/Stocks, ETFs; 0.30% Fixed Income $1,000,000 - $2,000,000: 0.55% Equity Rate; 0.75% Mutual Fund/Stocks, ETFs; 0.25% Fixed Income $2,000,000 - $3,000,000: 0.55% Equity Rate; 0.50% Mutual Fund/Stocks, ETFs; 0.25% Fixed Income $3,000,000 - $5,000,000: 0.50% Equity Rate; 0.50% Mutual Fund/Stocks, ETFs; 0.25% Fixed Income $5,000,000 - $10,000,000: 0.50% Equity Rate; 0.50% Mutual Fund/Stocks, ETFs; 0.20% Fixed Income $10,000,000+: 0.30% Equity Rate; 0.50% Mutual Fund/Stocks, ETFs; 0.20% Fixed Income
Incentive allocation of 20% of profits after recouping prior losses, calculated annually based on Fund profits.
Account minimum: $200,000 Minimum fee: Minimum fee amount for equity rate under $100,000 not specified (denoted as '__').
Main office
See officeFremont CA
Advisors at this office
1
Offices (2)
Most active in
California
Disclosures
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Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
Advisors at this firm
Xianzhong Z
Series 63, Series 65
Fremont, CA
Five Stone Capital, LLC
Xianzhong Zhu is a financial advisor with Five Stone Capital, LLC, holding Series 63 and Series 65 designations and 20 years of industry experience. He has worked at Five Stone Capital since 2021 and previously had roles at Ni Advisors Inc and Centaurus Financial, Inc. Five Stone Capital serves as the general partner and investment adviser to a single pooled investment vehicle, employing a fundamental analysis approach to stock selection and managing portfolios on a discretionary basis. The firm focuses on limiting stock concentration and selecting securities with lower market correlation, providing regular performance updates and reports to investors.
Qiuwen X
Series 65
Fremont, CA
Five Stone Capital, LLC
Qiuwen Xia is a Series 65 credentialed advisor with 20 years of industry experience. He has been with Five Stone Capital, LLC since 2004. Five Stone Capital serves as the general partner and investment adviser to a single pooled investment vehicle, the Five Stone Capital Fund, L.P., and provides portfolio management services to a wrap-fee program. The firm employs fundamental analysis for stock selection, manages the Fund on a discretionary basis, and emphasizes limiting individual stock concentration and choosing securities with lower correlation to the broader market.
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