# JMI Management, L.P.

> JMI Management, L.P. is an SEC-registered investment advisory firm in Baltimore, MD, registered since 2014, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 4, 2026.

- CRD: 158344
- Filed as: JMI MANAGEMENT, L.P.
- Also doing business as: JMI EQUITY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Baltimore, MD
- Filing period: October 2026
- Form ADV filing dated: June 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/158344
- AdvisorCensus page: https://advisorcensus.com/firm/jmi-management-l-p-baltimore-md-158344

## Quick answers

**How is JMI Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), JMI Management, L.P. 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 JMI Management, L.P. located?**
JMI Management, L.P.'s principal office is in Baltimore, MD, according to its Form ADV; the July 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is JMI Management, L.P. registered with the SEC or a state?**
JMI Management, L.P. is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 158344.

**How much does JMI Management, L.P. manage?**
JMI Management, L.P. reports $13,575,137,860 in regulatory assets under management in its Form ADV filing dated June 4, 2026 (100% discretionary).

**How have JMI Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for JMI Management, L.P.: Regulatory assets under management: $5,777,095,297 in the October 2021 data and $13,575,137,860 in the October 2026 data, up 135%. Total employees: 50 in October 2021 and 81 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does JMI 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) (20).

**Does JMI 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/158344

**What changed in JMI Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 42 to 44. Regulatory assets under management went from $9,483,668,766 to $13,575,137,860 (+43%).

## 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: $13,575,137,860
- Discretionary: $13,575,137,860
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 20 | $13,575,137,860 |

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

### Firm details
- Registered since: 2014 (12 years)
- Employees: 81 total, 44 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DC, MD
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- La Jolla, CA
- Washington, DC

### Websites listed on Form ADV (Item 1.I)
- jmi.com
- LinkedIn @JMI-EQUITY

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,777,095,297 | 50 | March 16, 2021 |
| October 2022 | $7,518,634,375 | 54 | April 22, 2022 |
| October 2023 | $8,091,012,517 | 63 | March 22, 2023 |
| October 2024 | $8,696,716,084 | 71 | March 28, 2024 |
| October 2025 | $9,483,668,766 | 74 | March 14, 2025 |
| October 2026 | $13,575,137,860 | 81 | June 4, 2026 |

Regulatory assets under management: $5,777,095,297 in the October 2021 data and $13,575,137,860 in the October 2026 data, up 135%.
Total employees: 50 in October 2021 and 81 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 42 to 44.
- Regulatory assets under management went from $9,483,668,766 to $13,575,137,860 (+43%).

### February 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. JMI Management, L.P. (CRD 158344): Form ADV filing data as of October 2026.