# L2 Asset Management, LLC

> L2 Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2016, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 12, 2026.

- CRD: 172688
- Filed as: L2 ASSET MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: August 12, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/172688
- AdvisorCensus page: https://advisorcensus.com/firm/l2-asset-management-llc-172688

## Quick answers

**How is L2 Asset Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), L2 Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Is L2 Asset Management, LLC registered with the SEC or a state?**
L2 Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 172688.

**How much does L2 Asset Management, LLC manage?**
L2 Asset Management, LLC reports $1,270,837,759 in regulatory assets under management in its Form ADV filing dated August 12, 2026 (66% discretionary).

**How have L2 Asset Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for L2 Asset Management, LLC: Regulatory assets under management: $177,988,608 in the October 2021 data and $1,270,837,759 in the October 2026 data, up 614%. Total employees: 5 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does L2 Asset Management, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (79); pooled investment vehicles (other than investment companies and business development companies) (3); investment companies (2).

**Which custodians does L2 Asset Management, LLC use?**
L2 Asset Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC, Interactive Brokers LLC and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does L2 Asset Management, LLC 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/172688

**What changed in L2 Asset Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 5 to 4. Regulatory assets under management went from $819,575,386 to $1,270,837,759 (+55%). Registered or notice-filed in CA, NV, NY.

## 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))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- Interactive Brokers LLC
- 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: $1,270,837,759
- Discretionary: $837,674,384
- Non-discretionary: $433,163,375

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 79 | $412,625,869 |
| Investment companies | 2 | $572,802,605 |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $233,162,677 |
| Other investment advisers | 1 | $43,958,847 |
| Other | 1 | $8,287,761 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2016 (10 years)
- Employees: 8 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, MA, NV, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

### Websites listed on Form ADV (Item 1.I)
- l2asset.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $177,988,608 | 5 | August 17, 2021 |
| October 2022 | $275,703,357 | 6 | March 30, 2022 |
| October 2023 | $326,528,374 | 7 | March 30, 2023 |
| October 2024 | $473,255,122 | 6 | March 26, 2024 |
| October 2025 | $819,575,386 | 7 | March 27, 2025 |
| October 2026 | $1,270,837,759 | 8 | August 12, 2026 |

Regulatory assets under management: $177,988,608 in the October 2021 data and $1,270,837,759 in the October 2026 data, up 614%.
Total employees: 5 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 5 to 4.
- Regulatory assets under management went from $819,575,386 to $1,270,837,759 (+55%).
- Registered or notice-filed in CA, NV, NY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. L2 Asset Management, LLC (CRD 172688): Form ADV filing data as of October 2026.