# D. E. Shaw Investment Management, L.L.C.

> D. E. Shaw Investment Management, L.L.C. is an SEC-registered investment advisory firm in New York, NY, registered since 2005, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 6, 2026.

- CRD: 135284
- Filed as: D. E. SHAW INVESTMENT MANAGEMENT, L.L.C.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/135284
- AdvisorCensus page: https://advisorcensus.com/firm/d-e-shaw-investment-management-l-l-c-new-york-ny-135284

## Quick answers

**How is D. E. Shaw Investment Management, L.L.C. compensated?**
On its Form ADV (Item 5.E, October 2026), D. E. Shaw Investment Management, L.L.C. 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 D. E. Shaw Investment Management, L.L.C. located?**
D. E. Shaw Investment Management, L.L.C.'s principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is D. E. Shaw Investment Management, L.L.C. registered with the SEC or a state?**
D. E. Shaw Investment Management, L.L.C. is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 135284.

**How much does D. E. Shaw Investment Management, L.L.C. manage?**
D. E. Shaw Investment Management, L.L.C. reports $33,368,169,339 in regulatory assets under management in its Form ADV filing dated July 6, 2026 (100% discretionary).

**How have D. E. Shaw Investment Management, L.L.C.'s assets and staff changed since 2021?**
In the Form ADV data for D. E. Shaw Investment Management, L.L.C.: Regulatory assets under management: $34,052,277,985 in the October 2021 data and $33,368,169,339 in the October 2026 data, down 2%. Total employees: 39 in October 2021 and 47 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does D. E. Shaw Investment Management, 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) (20); investment companies (3).

**Which custodians does D. E. Shaw Investment Management, L.L.C. use?**
D. E. Shaw Investment Management, L.L.C.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Global Brokerage Group, Inc and State Street Bank and Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does D. E. Shaw Investment Management, L.L.C. report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). 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/135284

**What changed in D. E. Shaw Investment Management, L.L.C.'s recent Form ADV filings?**
In the August 2026 filing data: Registered or notice-filed in CA, CO.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Global Brokerage Group, Inc
- State Street Bank and Trust Company

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: $33,368,169,339
- Discretionary: $33,368,169,339
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 3 | $11,345,763,112 |
| Pooled investment vehicles (other than investment companies and business development companies) | 20 | $19,480,647,267 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $501,733,514 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $2,040,025,446 |

### Advisory services (Item 5.G)
- 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: 2005 (21 years)
- Employees: 47 total, 45 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, NY
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

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/135284

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- San Francisco, CA

### Websites listed on Form ADV (Item 1.I)
- [deshaw.com](https://deshaw.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $34,052,277,985 | 39 | March 31, 2021 |
| October 2022 | $27,520,951,456 | 41 | March 31, 2022 |
| October 2023 | $24,072,488,307 | 43 | July 31, 2023 |
| October 2024 | $22,140,772,595 | 45 | August 9, 2024 |
| October 2025 | $21,045,433,296 | 48 | June 6, 2025 |
| October 2026 | $33,368,169,339 | 47 | July 6, 2026 |

Regulatory assets under management: $34,052,277,985 in the October 2021 data and $33,368,169,339 in the October 2026 data, down 2%.
Total employees: 39 in October 2021 and 47 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Registered or notice-filed in CA, CO.

### April 2026
- Employees performing advisory functions went from 46 to 45.
- Regulatory assets under management went from $21,045,433,296 to $33,368,169,339 (+59%).
- Added an office in San Francisco, CA.
- No longer lists an office in Wellesley, MA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. D. E. Shaw Investment Management, L.L.C. (CRD 135284): Form ADV filing data as of October 2026.