# Lyrical Asset Management LP

> Lyrical Asset Management LP is an SEC-registered investment advisory firm in New York, NY, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 10, 2026.

- CRD: 148267
- Filed as: LYRICAL ASSET MANAGEMENT LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/148267
- AdvisorCensus page: https://advisorcensus.com/firm/lyrical-asset-management-lp-new-york-ny-148267

## Quick answers

**How is Lyrical Asset Management LP compensated?**
On its Form ADV (Item 5.E, October 2026), Lyrical Asset Management LP 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 Lyrical Asset Management LP located?**
Lyrical Asset Management LP's principal office is in New York, NY, according to its Form ADV.

**Is Lyrical Asset Management LP registered with the SEC or a state?**
Lyrical Asset Management LP is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 148267.

**How much does Lyrical Asset Management LP manage?**
Lyrical Asset Management LP reports $7,374,485,949 in regulatory assets under management in its Form ADV filing dated March 10, 2026 (100% discretionary).

**How have Lyrical Asset Management LP's assets and staff changed since 2021?**
In the Form ADV data for Lyrical Asset Management LP: Regulatory assets under management: $7,323,387,250 in the October 2021 data and $7,374,485,949 in the October 2026 data, up 1%. Total employees: 27 in October 2021 and 30 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lyrical Asset Management LP serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (335); corporations or other businesses not listed above (24); pension and profit sharing plans (but not the plan participants or government pension plans) (9).

**Which custodians does Lyrical Asset Management LP use?**
Lyrical Asset Management LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Securities, Inc. and The Bank of NY Mellon as custodians holding 10% or more of its separately managed account assets.

**Does Lyrical Asset 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/148267

**What changed in Lyrical Asset Management LP's recent Form ADV filings?**
In the January 2026 filing data: No longer registered or notice-filed in LA.

## 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))
- Northern Trust Securities, Inc.
- The Bank of NY Mellon

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: $7,374,485,949
- Discretionary: $7,374,485,949
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | $0 |
| High net worth individuals | 335 | $1,200,850,625 |
| Banking or thrift institutions | Fewer than 5 | $0 |
| Investment companies | 2 | $1,145,404,119 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,178,605,974 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 9 | $650,078,688 |
| Charitable organizations | 9 | $210,095,257 |
| State or municipal government entities (including government pension plans) | 2 | $994,944,532 |
| Other investment advisers | Fewer than 5 | $0 |
| Insurance companies | Fewer than 5 | $0 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 |
| Corporations or other businesses not listed above | 24 | $1,333,994,713 |
| Other | 4 | $660,512,041 |

### Advisory services (Item 5.G)
- 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)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2010 (16 years)
- Employees: 30 total, 6 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KY, MA, MD, MI, MN, MO, MT, NC, NJ, NY, OH, OK, OR, PA, PR, SC, TN, TX, VA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- lyricalam.com
- lyricalvaluefunds.com
- LinkedIn @lyrical-asset-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,323,387,250 | 27 | March 30, 2021 |
| October 2022 | $8,053,001,316 | 32 | March 30, 2022 |
| October 2023 | $5,759,049,347 | 31 | March 29, 2023 |
| October 2024 | $6,482,707,325 | 33 | April 1, 2024 |
| October 2025 | $6,805,344,144 | 30 | March 12, 2025 |
| October 2026 | $7,374,485,949 | 30 | March 10, 2026 |

Regulatory assets under management: $7,323,387,250 in the October 2021 data and $7,374,485,949 in the October 2026 data, up 1%.
Total employees: 27 in October 2021 and 30 in October 2026.

## Changes in the filing (last 12 months)

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lyrical Asset Management LP (CRD 148267): Form ADV filing data as of October 2026.