# Anchorage Capital Group, L.L.C.

> Anchorage Capital Group, L.L.C. is an SEC-registered investment advisory firm in New York, NY, registered since 2006, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 135657
- Filed as: ANCHORAGE CAPITAL GROUP, L.L.C.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/135657
- AdvisorCensus page: https://advisorcensus.com/firm/anchorage-capital-group-l-l-c-new-york-ny-135657

## Quick answers

**How is Anchorage Capital Group, L.L.C. compensated?**
On its Form ADV (Item 5.E, October 2026), Anchorage Capital Group, L.L.C. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Anchorage Capital Group, L.L.C. located?**
Anchorage Capital Group, L.L.C.'s principal office is in New York, NY, according to its Form ADV.

**Is Anchorage Capital Group, L.L.C. registered with the SEC or a state?**
Anchorage Capital Group, L.L.C. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 135657.

**How much does Anchorage Capital Group, L.L.C. manage?**
Anchorage Capital Group, L.L.C. reports $3,707,574,012 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Anchorage Capital Group, L.L.C.'s assets and staff changed since 2021?**
In the Form ADV data for Anchorage Capital Group, L.L.C.: Regulatory assets under management: $30,599,200,518 in the October 2021 data and $3,707,574,012 in the October 2026 data, down 88%. Total employees: 162 in October 2021 and 93 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Anchorage Capital Group, L.L.C. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (37); state or municipal government entities (including government pension plans) (1).

**Which custodians does Anchorage Capital Group, L.L.C. use?**
Anchorage Capital Group, L.L.C.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Goldman Sachs & Co. LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Anchorage Capital Group, L.L.C. 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/135657

**What changed in Anchorage Capital Group, L.L.C.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 48 to 43. Regulatory assets under management went from $4,883,060,269 to $3,707,574,012 (-24%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Goldman Sachs & Co. LLC

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: $3,707,574,012
- Discretionary: $3,707,574,012
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 37 | $3,552,419,827 |
| State or municipal government entities (including government pension plans) | 1 | $155,154,185 |

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

### Firm details
- Registered since: 2006 (20 years)
- Employees: 93 total, 43 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [anchoragecap.com](https://anchoragecap.com)
- LinkedIn @ANCHORAGE-CAPITAL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $30,599,200,518 | 162 | May 28, 2021 |
| October 2022 | $32,324,463,564 | 100 | July 1, 2022 |
| October 2023 | $25,969,886,195 | 89 | August 29, 2023 |
| October 2024 | $6,348,345,481 | 100 | May 30, 2024 |
| October 2025 | $4,883,060,269 | 105 | May 6, 2025 |
| October 2026 | $3,707,574,012 | 93 | March 30, 2026 |

Regulatory assets under management: $30,599,200,518 in the October 2021 data and $3,707,574,012 in the October 2026 data, down 88%.
Total employees: 162 in October 2021 and 93 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 48 to 43.
- Regulatory assets under management went from $4,883,060,269 to $3,707,574,012 (-24%).

### 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. Anchorage Capital Group, L.L.C. (CRD 135657): Form ADV filing data as of October 2026.