Students with conduct problems (CPs) may present heterogeneity in terms of behavioral manifestations and service needs. Previous studies using Latent Class Analysis (LCA) to capture this heterogeneity have been conducted mostly with community samples and have often applied a narrow definition of CP. Considering this context, this study investigated CP subgroups among elementary students with CP receiving special education services. LCA was conducted on 10 CP indices for 297 6–9 year old children. Latent CP subgroups were compared with 201 controls without CP. LCA suggests a three‐class solution based on severity of CP and context/informant reports (home/parent, school/teacher). Multinomial logistic regressions indicated that all CP subgroups differed from the control group on social competence and surgency/extraversion temperament scale in the expected direction but varied on specific personal, family, or school correlates. Interventions aimed at reducing CP should consider differences in CP subtype and in correlated risk factors.