Form D · Other Investment Fund

Spring Lake Unconstrained Municipal Opportunities Fund, LLC

Tampa, FL · CIK 0001637173

Offering snapshot reported Dec 17, 2025 · SEC filing

Reported sold: $770M
Investors reported: 202
Minimum accepted: $100K
First sale: Mar 2, 2015

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$729,932,197 → $769,978,151
Reported investors194 → 202

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Dec 17, 2025	Amendment	$769,978,151	$40,045,954vs Dec 17, 2024	202	SEC filing
Dec 17, 2024	Amendment	$729,932,197	$43,379,950vs Dec 7, 2023	194	SEC filing
Dec 7, 2023	Amendment	$686,552,247	$60,860,243vs Dec 7, 2022	184	SEC filing
Dec 7, 2022	Amendment	$625,692,004	$4,765,650vs Dec 9, 2021	179	SEC filing
Dec 9, 2021	Amendment	$620,926,354	$101,321,143vs Dec 10, 2020	165	SEC filing
Dec 10, 2020	Amendment	$519,605,211	$69,345,365vs Sep 25, 2018	159	SEC filing
Sep 25, 2018	Amendment	$450,259,846	$295,907,037vs May 10, 2017	163	SEC filing
May 10, 2017	Amendment	$154,352,809	$58,937,496vs Feb 23, 2017	115	SEC filing
Feb 23, 2017	Amendment	$95,415,313	$90,415,313vs Mar 27, 2015	90	SEC filing
Mar 27, 2015	Initial	$5,000,000	No comparison	8	SEC filing

Offering details

Securities: Equity, 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: 021-236835

Source: Form D, filed Dec 17, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

SPRING LAKE UNCONSTRAINED MUNICIPAL OPPORTUNITIES FUND, LLC

Investment adviser: SPRING LAKE ASSET MANAGEMENT, INC.

Gross asset value: $1.28B
Beneficial owners: 146
ADV minimum commitment: $0

Reported in Form ADV on Mar 20, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator TRIDENT FUND SERVICES, INC ATLANTA, Georgia, United States Investor statements: Yes (provided to all investors) Related to adviser: No Other funds reporting this name →

Auditor RSM US LLP CHICAGO, Illinois, United States Other funds reporting this name →

Custodian NORTHBROOK BANK & TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No Other funds reporting this name →

Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No Other funds reporting this name →

Custodian WINTRUST FINANCIAL CORPORATION ROSEMONT, Illinois, United States Related to adviser: No Other funds reporting this name →

Marketer PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No Other funds reporting this name →

See filing for more → Showing the first 6 providers by role and name. IAPD may show a newer filing.

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

RSM US LLP
PCAOB 49

PERSHING LLC
SEC 8-17574

WINTRUST FINANCIAL CORPORATION
LEI Q774KI4AW80FHFW33O61

PERSHING LLC
CRD 7560 · SEC 8-17574

Fund asset history · 5 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2021	$980,521,306	138	Feb 11, 2022
2022	$719,802,101	134	Mar 14, 2023
2023	$936,991,051	136	Mar 19, 2024
2024	$975,908,225	136	Mar 26, 2025
2025	$1,280,929,600	146	Mar 20, 2026

Filing source

Form ADV 2041690 · Mar 20, 2026 · Schedule D 7.B.(1), fund 805-7653328705

Reported by SPRING LAKE ASSET MANAGEMENT, INC. (CRD 283750).

Annual Updating Amendment for Registered Adviser · fiscal year 2025.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; 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
Thomas B. Caldwell	Director, Executive
Christopher W. Crosby	Director, Executive
N/A Spring Lake Asset Management, Inc.	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

3214 West Parkland Blvd.
Tampa, FL, 33609
Phone: 813-336-6889