{
  "crd_number": 123826,
  "slug": "k2-d-and-s-management-co-l-l-c-stamford-ct-123826",
  "primary_business_name": "K2/D&S MANAGEMENT CO., L.L.C.",
  "legal_name": "K2/D&S MANAGEMENT CO., L.L.C.",
  "dbas": [],
  "city": "Stamford",
  "state": "CT",
  "country": "United States",
  "cbsa_code": "14860",
  "metro": {
    "cbsa_code": "14860",
    "common_name": "Bridgeport",
    "msa_name": "Bridgeport-Stamford-Danbury, CT",
    "path": "/advisors/ct/bridgeport"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2003-03-11",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-09-16",
  "carried_forward": false,
  "raum_total": 6534834785.0,
  "raum_discretionary": 6534834785.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 30,
  "advisory_employees": 10,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 32063155.0,
      "count": 1
    },
    "state_municipal": {
      "raum": 2104326.0,
      "count": 1
    },
    "investment_companies": {
      "raum": 532578421.0,
      "count": 1
    },
    "pension_profit_sharing": {
      "raum": 2208542685.0,
      "count": 18
    },
    "pooled_investment_vehicles": {
      "raum": 3608867561.0,
      "count": 50
    },
    "corporations_other_businesses": {
      "raum": 150678637.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CT"
  ],
  "websites": [
    "https://k2advisors.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/123826",
  "city_as_filed": "STAMFORD",
  "url": "https://advisorcensus.com/firm/k2-d-and-s-management-co-l-l-c-stamford-ct-123826",
  "display_name": "K2/D&S Management Co., L.L.C.",
  "summary": "K2/D&S Management Co., L.L.C. is an SEC-registered investment advisory firm in Stamford, CT, registered since 2003, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.",
  "citation": "AdvisorCensus. K2/D&S Management Co., L.L.C. (CRD 123826): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "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)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is K2/D&S Management Co., L.L.C. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), K2/D&S Management Co., L.L.C. reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is K2/D&S Management Co., L.L.C. located?",
      "a": "K2/D&S Management Co., L.L.C.'s principal office is in Stamford, CT, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is K2/D&S Management Co., L.L.C. registered with the SEC or a state?",
      "a": "K2/D&S Management Co., L.L.C. is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 123826."
    },
    {
      "q": "How much does K2/D&S Management Co., L.L.C. manage?",
      "a": "K2/D&S Management Co., L.L.C. reports $6,534,834,785 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (100% discretionary)."
    },
    {
      "q": "How have K2/D&S Management Co., L.L.C.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for K2/D&S Management Co., L.L.C.: Regulatory assets under management: $11,080,904,715 in the October 2021 data and $6,534,834,785 in the October 2026 data, down 41%. Total employees: 65 in October 2021 and 30 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does K2/D&S Management Co., L.L.C. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (50); pension and profit sharing plans (but not the plan participants or government pension plans) (18); investment companies (1)."
    },
    {
      "q": "Which custodians does K2/D&S Management Co., L.L.C. use?",
      "a": "K2/D&S Management Co., L.L.C.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Master Trust Bank of Japan, Ltd as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does K2/D&S Management Co., L.L.C. report any disciplinary disclosures?",
      "a": "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/123826"
    },
    {
      "q": "What changed in K2/D&S Management Co., L.L.C.'s recent Form ADV filings?",
      "a": "In the September 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 11080904715.0,
      "total_employees": 65,
      "filing_date": "2021-08-10"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 12292366987.0,
      "total_employees": 60,
      "filing_date": "2021-12-22"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 10423407311.0,
      "total_employees": 60,
      "filing_date": "2023-08-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 9521833367.0,
      "total_employees": 55,
      "filing_date": "2024-08-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 9436934450.0,
      "total_employees": 38,
      "filing_date": "2025-07-29"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 6534834785.0,
      "total_employees": 30,
      "filing_date": "2026-09-16"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Employees performing advisory functions went from 15 to 10.",
        "Regulatory assets under management went from $9,436,934,450 to $6,534,834,785 (-31%)."
      ]
    },
    {
      "period": "2025-11-01",
      "period_label": "November 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "The Master Trust Bank of Japan, Ltd",
      "name_as_filed": "THE MASTER TRUST BANK OF JAPAN, LTD",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/k2-d-and-s-management-co-l-l-c-stamford-ct-123826.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 532578421.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 50,
      "fewer_than_5": false,
      "raum": 3608867561.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 18,
      "fewer_than_5": false,
      "raum": 2208542685.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": false,
      "raum": 32063155.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 2104326.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 1,
      "fewer_than_5": false,
      "raum": 150678637.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/123826",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}