# Bridgeway Capital Management, LLC

> Bridgeway Capital Management, LLC is an SEC-registered investment advisory firm in Houston, TX, registered since 1993, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.

- CRD: 111441
- Filed as: BRIDGEWAY CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: September 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111441
- AdvisorCensus page: https://advisorcensus.com/firm/bridgeway-capital-management-llc-houston-tx-111441

## Quick answers

**How is Bridgeway Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Bridgeway Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Bridgeway Capital Management, LLC located?**
Bridgeway Capital Management, LLC's principal office is in Houston, TX, according to its Form ADV.

**Is Bridgeway Capital Management, LLC registered with the SEC or a state?**
Bridgeway Capital Management, LLC is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 111441.

**How much does Bridgeway Capital Management, LLC manage?**
Bridgeway Capital Management, LLC reports $4,251,702,444 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (100% discretionary).

**How have Bridgeway Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Bridgeway Capital Management, LLC: Regulatory assets under management: $4,795,458,551 in the October 2021 data and $4,251,702,444 in the October 2026 data, down 11%. Total employees: 34 in October 2021 and 23 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Bridgeway Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (10); investment companies (8); other (3).

**Does Bridgeway Capital Management, LLC 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/111441

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

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $4,251,702,444
- Discretionary: $4,251,702,444
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 10 | $70,335,968 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 8 | $4,125,364,583 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $28,975,516 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 1 | $12,324,667 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 3 | $14,701,710 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- 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: 1993 (33 years)
- Employees: 23 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL, NH, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- bridgeway.com
- LinkedIn @BRIDGEWAY-CAPITAL-MANAGEMENT
- X @BRIDGEWAYCM

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,795,458,551 | 34 | March 24, 2021 |
| October 2022 | $5,440,236,035 | 34 | March 28, 2022 |
| October 2023 | $3,931,417,329 | 32 | June 13, 2023 |
| October 2024 | $4,332,319,498 | 32 | June 28, 2024 |
| October 2025 | $4,028,080,229 | 27 | July 3, 2025 |
| October 2026 | $4,251,702,444 | 23 | September 16, 2026 |

Regulatory assets under management: $4,795,458,551 in the October 2021 data and $4,251,702,444 in the October 2026 data, down 11%.
Total employees: 34 in October 2021 and 23 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 9 to 7.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Bridgeway Capital Management, LLC (CRD 111441): Form ADV filing data as of October 2026.