{
  "crd_number": 336255,
  "slug": "aphias-capital-l-p-san-francisco-ca-336255",
  "primary_business_name": "APHIAS CAPITAL, L.P.",
  "legal_name": "APHIAS CAPITAL, L.P.",
  "dbas": [],
  "city": "San Francisco",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2025-07-14",
  "years_registered": 1,
  "period": "2026-10-01",
  "filing_date": "2026-07-27",
  "carried_forward": false,
  "raum_total": 675752500.0,
  "raum_discretionary": 675752500.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 13,
  "advisory_employees": 11,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 675752500.0,
      "count": 2
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA"
  ],
  "websites": [
    "https://aphias.com",
    "https://linkedin.com/company/aphias",
    "https://x.com/AphiasC92290"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/336255",
  "city_as_filed": "SAN FRANCISCO",
  "url": "https://advisorcensus.com/firm/aphias-capital-l-p-san-francisco-ca-336255",
  "display_name": "Aphias Capital, L.P.",
  "summary": "Aphias Capital, L.P. is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2025, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated July 27, 2026.",
  "citation": "AdvisorCensus. Aphias Capital, L.P. (CRD 336255): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Aphias Capital, L.P. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Aphias Capital, L.P. 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."
    },
    {
      "q": "Where is Aphias Capital, L.P. located?",
      "a": "Aphias Capital, L.P.'s principal office is in San Francisco, CA, according to its Form ADV."
    },
    {
      "q": "Is Aphias Capital, L.P. registered with the SEC or a state?",
      "a": "Aphias Capital, L.P. is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 336255."
    },
    {
      "q": "How much does Aphias Capital, L.P. manage?",
      "a": "Aphias Capital, L.P. reports $675,752,500 in regulatory assets under management in its Form ADV filing dated July 27, 2026 (100% discretionary)."
    },
    {
      "q": "How have Aphias Capital, L.P.'s assets and staff changed since 2025?",
      "a": "In the Form ADV data for Aphias Capital, L.P.: Total employees: 10 in October 2025 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Aphias Capital, L.P. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2)."
    },
    {
      "q": "Does Aphias Capital, L.P. report any disciplinary disclosures?",
      "a": "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/336255"
    },
    {
      "q": "What changed in Aphias Capital, L.P.'s recent Form ADV filings?",
      "a": "In the August 2026 filing data: Regulatory assets under management went from $542,100,000 to $675,752,500 (+25%)."
    }
  ],
  "filing_history": [
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": null,
      "total_employees": 10,
      "filing_date": "2025-06-13"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 675752500.0,
      "total_employees": 13,
      "filing_date": "2026-07-27"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Regulatory assets under management went from $542,100,000 to $675,752,500 (+25%)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $350,000,000 to $542,100,000 (+55%)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Employees performing advisory functions went from 8 to 11."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/aphias-capital-l-p-san-francisco-ca-336255.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 675752500.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/336255",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}