# Enhalus Capital, LP

> Enhalus Capital, LP is an SEC-registered investment advisory firm in New York, NY, registered since 2021, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 313321
- Filed as: ENHALUS CAPITAL, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/313321
- AdvisorCensus page: https://advisorcensus.com/firm/enhalus-capital-lp-new-york-ny-313321

## Quick answers

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

**Where is Enhalus Capital, LP located?**
Enhalus Capital, LP's principal office is in New York, NY, according to its Form ADV.

**Is Enhalus Capital, LP registered with the SEC or a state?**
Enhalus Capital, LP is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 313321.

**How much does Enhalus Capital, LP manage?**
Enhalus Capital, LP reports $785,514,318 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Enhalus Capital, LP's assets and staff changed since 2021?**
In the Form ADV data for Enhalus Capital, LP: Regulatory assets under management: $90,142,416 in the October 2021 data and $785,514,318 in the October 2026 data, up 771%. Total employees: 4 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Enhalus Capital, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); pension and profit sharing plans (but not the plan participants or government pension plans) (1); other (1).

**Which custodians does Enhalus Capital, LP use?**
Enhalus Capital, LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as custodians holding 10% or more of its separately managed account assets.

**Does Enhalus Capital, LP 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/313321

**What changed in Enhalus Capital, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 4 to 3.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- J.P. Morgan Securities LLC
- Morgan Stanley & Co. LLC

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: $785,514,318
- Discretionary: $785,514,318
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $544,940,849 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $62,490,933 |
| Other | 1 | $178,082,536 |

### Advisory services (Item 5.G)
- 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: 2021 (5 years)
- Employees: 4 total, 3 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- enhalus.com
- LinkedIn @enhalus-capital-lp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $90,142,416 | 4 | August 12, 2021 |
| October 2022 | $186,610,667 | 4 | March 28, 2022 |
| October 2023 | $643,470,000 | 4 | March 29, 2023 |
| October 2024 | $657,956,789 | 4 | September 25, 2024 |
| October 2025 | $803,118,511 | 5 | March 26, 2025 |
| October 2026 | $785,514,318 | 4 | March 27, 2026 |

Regulatory assets under management: $90,142,416 in the October 2021 data and $785,514,318 in the October 2026 data, up 771%.
Total employees: 4 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 3.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Enhalus Capital, LP (CRD 313321): Form ADV filing data as of October 2026.