# Defilade Capital Management, L.P.

> Defilade Capital Management, L.P. is an SEC-registered investment advisory firm in Emeryville, CA, registered since 2025, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 26, 2026.

- CRD: 337997
- Filed as: DEFILADE CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Emeryville, CA
- Filing period: October 2026
- Form ADV filing dated: June 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/337997
- AdvisorCensus page: https://advisorcensus.com/firm/defilade-capital-management-l-p-emeryville-ca-337997

## Quick answers

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

**How much does Defilade Capital Management, L.P. charge?**
Its Form ADV Part 2A brochure dated March 26, 2026 states: Asset-based fee: 2% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Defilade Capital Management, L.P. located?**
Defilade Capital Management, L.P.'s principal office is in Emeryville, CA, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Defilade Capital Management, L.P. registered with the SEC or a state?**
Defilade Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 337997.

**How much does Defilade Capital Management, L.P. manage?**
Defilade Capital Management, L.P. reports $1,548,605,368 in regulatory assets under management in its Form ADV filing dated June 26, 2026 (100% discretionary).

**What types of clients does Defilade Capital Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3).

**Does Defilade Capital Management, L.P. 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/337997

**What changed in Defilade Capital Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $644,056,077 to $1,548,605,368 (+140%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 26, 2026)

- Asset-based fee: 2% of assets a year

> The “Management Fee Rate” is 2% per annum.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $1,548,605,368
- Discretionary: $1,548,605,368
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $1,548,605,368 |

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

### Firm details
- Registered since: 2025 (1 year)
- Employees: 7 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Pensacola, FL

### Websites listed on Form ADV (Item 1.I)
- defcap.com

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $644,056,077 to $1,548,605,368 (+140%).

### December 2025
- Newly registered with the SEC.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Defilade Capital Management, L.P. (CRD 337997): Form ADV filing data as of October 2026.