# Granite State Capital Management, LP

> Granite State Capital Management, LP is an SEC-registered investment advisory firm in Greenwich, CT, registered since 2016, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 284888
- Filed as: GRANITE STATE CAPITAL MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Greenwich, CT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/284888
- AdvisorCensus page: https://advisorcensus.com/firm/granite-state-capital-management-lp-greenwich-ct-284888

## Quick answers

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

**Where is Granite State Capital Management, LP located?**
Granite State Capital Management, LP's principal office is in Greenwich, CT, according to its Form ADV.

**Is Granite State Capital Management, LP registered with the SEC or a state?**
Granite State Capital Management, LP is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 284888.

**How much does Granite State Capital Management, LP manage?**
Granite State Capital Management, LP reports $1,330,263,887 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (98% discretionary).

**How have Granite State Capital Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Granite State Capital Management, LP: Regulatory assets under management: $826,759,244 in the October 2021 data and $1,330,263,887 in the October 2026 data, up 61%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Granite State Capital Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10).

**Does Granite State Capital Management, 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/284888

**What changed in Granite State Capital Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,093,460,383 to $1,330,263,887 (+22%).

## 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: $1,330,263,887
- Discretionary: $1,300,578,617
- Non-discretionary: $29,685,270

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $1,330,263,887 |

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

### Firm details
- Registered since: 2016 (10 years)
- Employees: 7 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $826,759,244 | 7 | March 31, 2021 |
| October 2022 | $573,032,781 | 6 | May 6, 2022 |
| October 2023 | $514,018,642 | 7 | March 31, 2023 |
| October 2024 | $877,829,278 | 7 | March 28, 2024 |
| October 2025 | $1,093,460,383 | 7 | March 31, 2025 |
| October 2026 | $1,330,263,887 | 7 | March 31, 2026 |

Regulatory assets under management: $826,759,244 in the October 2021 data and $1,330,263,887 in the October 2026 data, up 61%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,093,460,383 to $1,330,263,887 (+22%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Granite State Capital Management, LP (CRD 284888): Form ADV filing data as of October 2026.