# Fivespan Partners, LP

> Fivespan Partners, LP is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2024, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 332551
- Filed as: FIVESPAN PARTNERS, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/332551
- AdvisorCensus page: https://advisorcensus.com/firm/fivespan-partners-lp-san-francisco-ca-332551

## Quick answers

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

**Where is Fivespan Partners, LP located?**
Fivespan Partners, LP's principal office is in San Francisco, CA, according to its Form ADV.

**Is Fivespan Partners, LP registered with the SEC or a state?**
Fivespan Partners, LP is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 332551.

**How much does Fivespan Partners, LP manage?**
Fivespan Partners, LP reports $1,000,342,772 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Fivespan Partners, LP's assets and staff changed since 2024?**
In the Form ADV data for Fivespan Partners, LP: Regulatory assets under management: $628,713,988 in the October 2025 data and $1,000,342,772 in the October 2026 data, up 59%. Total employees: 8 in October 2024 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Fivespan Partners, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does Fivespan Partners, 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/332551

**What changed in Fivespan Partners, LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $628,713,988 to $1,000,342,772 (+59%).

## 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: $1,000,342,772
- Discretionary: $1,000,342,772
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,000,342,772 |

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

### Firm details
- Registered since: 2024 (2 years)
- Employees: 9 total, 5 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)
- fivespan.com
- LinkedIn @fivespan-partners

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | Not reported | 8 | August 22, 2024 |
| October 2025 | $628,713,988 | 9 | May 14, 2025 |
| October 2026 | $1,000,342,772 | 9 | March 31, 2026 |

Regulatory assets under management: $628,713,988 in the October 2025 data and $1,000,342,772 in the October 2026 data, up 59%.
Total employees: 8 in October 2024 and 9 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $628,713,988 to $1,000,342,772 (+59%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Fivespan Partners, LP (CRD 332551): Form ADV filing data as of October 2026.