# Breakwater Management, LP

> Breakwater Management, LP is an exempt reporting adviser in Century City, CA, filing reports since 2024. Exempt reporting advisers do not report regulatory assets under management on Form ADV.

- CRD: 170036
- Filed as: BREAKWATER MANAGEMENT, LP
- Reporting status: Exempt reporting adviser (status as filed: ERA - Active)
- Location: Century City, CA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/170036
- AdvisorCensus page: https://advisorcensus.com/firm/breakwater-management-lp-century-city-ca-170036

## Quick answers

**Where is Breakwater Management, LP located?**
Breakwater Management, LP's principal office is in Century City, CA, according to its Form ADV.

**How does Breakwater Management, LP report to regulators?**
Breakwater Management, LP is an exempt reporting adviser, filing reports since 2024. Exempt reporting advisers file a shorter Form ADV. Status as filed: ERA - Active. CRD 170036.

**How have Breakwater Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Breakwater Management, LP: Regulatory assets under management: $210,000,000 in the October 2021 data and $169,200,000 in the October 2023 data, down 19%. Total employees: 10 in October 2021 and 8 in October 2023. Assets under management move with markets as well as with clients coming and going.

**Does Breakwater Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/170036

**What changed in Breakwater Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Firm details
- Reporting since: 2024 (2 years)
- Employees: Not reported total, Not reported performing advisory functions
- Wrap fee program participation: Not reported
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [breakwatermgmt.com](https://breakwatermgmt.com)
- LinkedIn @breakwater-management-lp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $210,000,000 | 10 | April 22, 2021 |
| October 2022 | $279,400,000 | 8 | April 6, 2022 |
| October 2023 | $169,200,000 | 8 | April 26, 2023 |
| October 2024 | Not reported | Not reported | March 5, 2024 |
| October 2025 | Not reported | Not reported | March 10, 2025 |
| October 2026 | Not reported | Not reported | March 30, 2026 |

Regulatory assets under management: $210,000,000 in the October 2021 data and $169,200,000 in the October 2023 data, down 19%.
Total employees: 10 in October 2021 and 8 in October 2023.

## Changes in the filing (last 12 months)

### April 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. Breakwater Management, LP (CRD 170036): Form ADV filing data as of October 2026.