# Leucadia Asset Management LLC

> Leucadia Asset Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2003, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 30, 2026.

- CRD: 121767
- Filed as: LEUCADIA ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: April 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/121767
- AdvisorCensus page: https://advisorcensus.com/firm/leucadia-asset-management-llc-new-york-ny-121767

## Quick answers

**How is Leucadia Asset Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Leucadia Asset Management LLC reports these compensation arrangements: a percentage of assets under its management; subscription fees (for a newsletter or periodical); fixed fees (other than subscription fees); performance-based fees.

**Where is Leucadia Asset Management LLC located?**
Leucadia Asset Management LLC's principal office is in New York, NY, according to its Form ADV; the May 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is Leucadia Asset Management LLC registered with the SEC or a state?**
Leucadia Asset Management LLC is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 121767.

**How much does Leucadia Asset Management LLC manage?**
Leucadia Asset Management LLC reports $3,056,268,327 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (100% discretionary).

**How have Leucadia Asset Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Leucadia Asset Management LLC: Regulatory assets under management: $4,060,658,915 in the October 2021 data and $3,056,268,327 in the October 2026 data, down 25%. Total employees: 138 in October 2021 and 33 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Leucadia Asset Management LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (14); corporations or other businesses not listed above (1).

**Which custodians does Leucadia Asset Management LLC use?**
Leucadia Asset Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Leucadia 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/121767

**What changed in Leucadia Asset Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 16 to 18. Regulatory assets under management went from $4,042,872,103 to $3,056,268,327 (-24%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Subscription fees (for a newsletter or periodical)
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Morgan Stanley & Co. LLC

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: $3,056,268,327
- Discretionary: $3,056,268,327
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Not reported | $0 |
| High net worth individuals | Not reported | $0 |
| Banking or thrift institutions | Not reported | $0 |
| Investment companies | Not reported | $0 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 14 | $2,902,444,026 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Not reported | $0 |
| Charitable organizations | Not reported | $0 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | 1 | $153,824,301 |
| Other | Not reported | $0 |

### Advisory services (Item 5.G)
- 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)
- Publication of periodicals or newsletters

### Firm details
- Registered since: 2003 (23 years)
- Employees: 33 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CT, FL, MA, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Boston, MA
- Miami, FL
- San Francisco, CA
- South Norwalk, CT

### Websites listed on Form ADV (Item 1.I)
- jefferies.com
- jefferiesmacrostrategy.com
- leucadia-am.com
- topwaterpartners.com
- LinkedIn @leucadia-asset-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,060,658,915 | 138 | September 29, 2021 |
| October 2022 | $4,907,729,862 | 138 | May 26, 2022 |
| October 2023 | $5,073,195,502 | 235 | August 15, 2023 |
| October 2024 | $3,493,864,506 | 49 | July 3, 2024 |
| October 2025 | $4,042,872,103 | 48 | April 11, 2025 |
| October 2026 | $3,056,268,327 | 33 | April 30, 2026 |

Regulatory assets under management: $4,060,658,915 in the October 2021 data and $3,056,268,327 in the October 2026 data, down 25%.
Total employees: 138 in October 2021 and 33 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 16 to 18.
- Regulatory assets under management went from $4,042,872,103 to $3,056,268,327 (-24%).

### January 2026
- No longer registered or notice-filed in IN.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Leucadia Asset Management LLC (CRD 121767): Form ADV filing data as of October 2026.