# GAM USA Inc.

> GAM USA Inc. is an SEC-registered investment advisory firm in New York, NY, registered since 1989, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 4, 2026.

- CRD: 110458
- Filed as: GAM USA INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: August 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110458
- AdvisorCensus page: https://advisorcensus.com/firm/gam-usa-inc-new-york-ny-110458

## Quick answers

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

**Is GAM USA Inc. registered with the SEC or a state?**
GAM USA Inc. is an SEC-registered investment advisory firm, registered since 1989. Status as filed: Approved. CRD 110458.

**How much does GAM USA Inc. manage?**
GAM USA Inc. reports $1,474,378,061 in regulatory assets under management in its Form ADV filing dated August 4, 2026 (100% discretionary).

**How have GAM USA Inc.'s assets and staff changed since 2021?**
In the Form ADV data for GAM USA Inc.: Regulatory assets under management: $1,893,608,946 in the October 2021 data and $1,474,378,061 in the October 2026 data, down 22%. Total employees: 19 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does GAM USA Inc. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); insurance companies (3); pension and profit sharing plans (but not the plan participants or government pension plans) (2).

**Which custodians does GAM USA Inc. use?**
GAM USA Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of America, BNY Mellon and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does GAM USA Inc. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 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/110458

**What changed in GAM USA Inc.'s recent Form ADV filings?**
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).

## 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))
- Bank of America
- BNY Mellon
- The Northern 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: $1,474,378,061
- Discretionary: $1,474,378,061
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $547,253,195 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $578,940,758 |
| Insurance companies | 3 | $265,573,180 |
| Corporations or other businesses not listed above | 1 | $82,610,928 |

### 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
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1989 (36 years)
- Employees: 14 total, 10 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 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/110458

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

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,893,608,946 | 19 | July 26, 2021 |
| October 2022 | $2,010,043,854 | 18 | April 13, 2022 |
| October 2023 | $1,264,157,320 | 13 | May 2, 2023 |
| October 2024 | $983,500,120 | 9 | May 29, 2024 |
| October 2025 | $1,148,242,839 | 11 | March 31, 2025 |
| October 2026 | $1,474,378,061 | 14 | August 4, 2026 |

Regulatory assets under management: $1,893,608,946 in the October 2021 data and $1,474,378,061 in the October 2026 data, down 22%.
Total employees: 19 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 4 to 10.
- Regulatory assets under management went from $1,148,242,839 to $1,547,157,091 (+35%).

### January 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. GAM USA Inc. (CRD 110458): Form ADV filing data as of October 2026.