# Alumina Investment Management

> Alumina Investment Management is an SEC-registered investment advisory firm in Charlotte, NC, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 164273
- Filed as: ALUMINA INVESTMENT MANAGEMENT
- Legal name: Alumina Investment Management, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Charlotte, NC
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/164273
- AdvisorCensus page: https://advisorcensus.com/firm/alumina-investment-management-charlotte-nc-164273

## Quick answers

**How is Alumina Investment Management compensated?**
On its Form ADV (Item 5.E, October 2026), Alumina Investment Management reports these compensation arrangements: fixed fees (other than subscription fees).

**Where is Alumina Investment Management located?**
Alumina Investment Management's principal office is in Charlotte, NC, according to its Form ADV.

**Is Alumina Investment Management registered with the SEC or a state?**
Alumina Investment Management is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 164273.

**How much does Alumina Investment Management manage?**
Alumina Investment Management reports $5,262,418,590 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (0% discretionary).

**How have Alumina Investment Management's assets and staff changed since 2021?**
In the Form ADV data for Alumina Investment Management: Regulatory assets under management: $9,110,702,479 in the October 2021 data and $5,262,418,590 in the October 2026 data, down 42%. Total employees: 4 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**Which custodians does Alumina Investment Management use?**
Alumina Investment Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York as a custodian holding 10% or more of its separately managed account assets.

**Does Alumina Investment Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/164273

**Does Alumina Investment Management state an account minimum?**
Its Form ADV Part 2A brochure dated March 27, 2026 says: "Alumina generally has a minimum account size of $25 million."

**What changed in Alumina Investment Management's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $14,681,685,404 to $5,262,418,590 (-64%). Employees performing advisory functions went from 3 to 2. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Account minimum: $25,000,000

> Alumina generally has a minimum account size of $25 million.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $5,262,418,590
- Discretionary: $0
- Non-discretionary: $5,262,418,590

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Banking or thrift institutions | Fewer than 5 | $5,262,418,590 |

### Advisory services (Item 5.G)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2012 (14 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NC
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- LinkedIn @alumina-investment-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $9,110,702,479 | 4 | March 10, 2021 |
| October 2022 | $10,679,533,797 | 4 | March 10, 2022 |
| October 2023 | $10,797,568,445 | 3 | March 2, 2023 |
| October 2024 | $11,978,167,685 | 3 | March 5, 2024 |
| October 2025 | $14,681,685,404 | 3 | February 27, 2025 |
| October 2026 | $5,262,418,590 | 2 | March 27, 2026 |

Regulatory assets under management: $9,110,702,479 in the October 2021 data and $5,262,418,590 in the October 2026 data, down 42%.
Total employees: 4 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $14,681,685,404 to $5,262,418,590 (-64%).
- Employees performing advisory functions went from 3 to 2.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Alumina Investment Management (CRD 164273): Form ADV filing data as of October 2026.