# Caxton Associates (USA) LLC

> Caxton Associates (USA) LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2005, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 18, 2026.

- CRD: 132823
- Filed as: CAXTON ASSOCIATES (USA) LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/132823
- AdvisorCensus page: https://advisorcensus.com/firm/caxton-associates-usa-llc-new-york-ny-132823

## Quick answers

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

**Where is Caxton Associates (USA) LLC located?**
Caxton Associates (USA) LLC's principal office is in New York, NY, according to its Form ADV.

**Is Caxton Associates (USA) LLC registered with the SEC or a state?**
Caxton Associates (USA) LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 132823.

**How much does Caxton Associates (USA) LLC manage?**
Caxton Associates (USA) LLC reports $4,627,271,602 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (100% discretionary).

**How have Caxton Associates (USA) LLC's assets and staff changed since 2021?**
In the Form ADV data for Caxton Associates (USA) LLC: Regulatory assets under management: $25,697,075,466 in the October 2021 data and $4,627,271,602 in the October 2026 data, down 82%. Total employees: 142 in October 2021 and 25 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Caxton Associates (USA) LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9).

**Does Caxton Associates (USA) LLC report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/132823

**What changed in Caxton Associates (USA) LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $3,747,757,758 to $4,627,271,602 (+23%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $4,627,271,602
- Discretionary: $4,627,271,602
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 9 | $4,627,271,602 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2005 (21 years)
- Employees: 25 total, 12 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/132823

### Websites listed on Form ADV (Item 1.I)
- caxton.com
- LinkedIn @caxton-associates

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $25,697,075,466 | 142 | October 1, 2021 |
| October 2022 | $26,687,115,000 | 153 | August 29, 2022 |
| October 2023 | $22,258,290,000 | 148 | May 23, 2023 |
| October 2024 | $25,576,448,898 | 162 | March 28, 2024 |
| October 2025 | $3,747,757,758 | 27 | May 30, 2025 |
| October 2026 | $4,627,271,602 | 25 | September 18, 2026 |

Regulatory assets under management: $25,697,075,466 in the October 2021 data and $4,627,271,602 in the October 2026 data, down 82%.
Total employees: 142 in October 2021 and 25 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $3,747,757,758 to $4,627,271,602 (+23%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Caxton Associates (USA) LLC (CRD 132823): Form ADV filing data as of October 2026.