# Graham Capital Management, L.P.

> Graham Capital Management, L.P. is an SEC-registered investment advisory firm in Rowayton, CT, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 7, 2026.

- CRD: 160925
- Filed as: GRAHAM CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rowayton, CT
- Filing period: October 2026
- Form ADV filing dated: July 7, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160925
- AdvisorCensus page: https://advisorcensus.com/firm/graham-capital-management-l-p-rowayton-ct-160925

## Quick answers

**How is Graham Capital Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Graham Capital Management, L.P. 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 Graham Capital Management, L.P. located?**
Graham Capital Management, L.P.'s principal office is in Rowayton, CT, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Graham Capital Management, L.P. registered with the SEC or a state?**
Graham Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160925.

**How much does Graham Capital Management, L.P. manage?**
Graham Capital Management, L.P. reports $42,865,979,000 in regulatory assets under management in its Form ADV filing dated July 7, 2026 (100% discretionary).

**How have Graham Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Graham Capital Management, L.P.: Regulatory assets under management: $18,460,018,000 in the October 2021 data and $42,865,979,000 in the October 2026 data, up 132%. Total employees: 177 in October 2021 and 209 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Graham 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) (28); investment companies (7).

**Does Graham 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/160925

**What changed in Graham Capital Management, L.P.'s recent Form ADV filings?**
In the August 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
- Other

### Regulatory assets under management (Item 5.F)
- Total: $42,865,979,000
- Discretionary: $42,865,979,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 7 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 28 | $42,865,979,000 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 209 total, 98 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, FL, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- London
- New York, NY
- West Palm Beach, FL

### Websites listed on Form ADV (Item 1.I)
- [grahamcapital.com](https://grahamcapital.com)
- LinkedIn @GRAHAM-CAPITAL-MANAGEMENT
- X @GrahamCapitalLP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $18,460,018,000 | 177 | August 24, 2021 |
| October 2022 | $14,652,609,000 | 178 | May 26, 2022 |
| October 2023 | $15,478,106,000 | 178 | March 31, 2023 |
| October 2024 | $18,644,915,000 | 204 | April 29, 2024 |
| October 2025 | $28,538,325,000 | 204 | June 12, 2025 |
| October 2026 | $42,865,979,000 | 209 | July 7, 2026 |

Regulatory assets under management: $18,460,018,000 in the October 2021 data and $42,865,979,000 in the October 2026 data, up 132%.
Total employees: 177 in October 2021 and 209 in October 2026.

## Changes in the filing (last 12 months)

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

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

### April 2026
- Regulatory assets under management went from $28,538,325,000 to $42,865,979,000 (+50%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Graham Capital Management, L.P. (CRD 160925): Form ADV filing data as of October 2026.