# Martingale Asset Management

> Martingale Asset Management is an SEC-registered investment advisory firm in Boston, MA, registered since 1987, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 108526
- Filed as: MARTINGALE ASSET MANAGEMENT
- Legal name: Martingale Asset Management LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108526
- AdvisorCensus page: https://advisorcensus.com/firm/martingale-asset-management-boston-ma-108526

## Quick answers

**How is Martingale Asset Management compensated?**
On its Form ADV (Item 5.E, October 2026), Martingale Asset Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Martingale Asset Management located?**
Martingale Asset Management's principal office is in Boston, MA, according to its Form ADV.

**Is Martingale Asset Management registered with the SEC or a state?**
Martingale Asset Management is an SEC-registered investment advisory firm, registered since 1987. Status as filed: Approved. CRD 108526.

**How much does Martingale Asset Management manage?**
Martingale Asset Management reports $4,177,115,595 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Martingale Asset Management's assets and staff changed since 2021?**
In the Form ADV data for Martingale Asset Management: Regulatory assets under management: $9,126,941,156 in the October 2021 data and $4,177,115,595 in the October 2026 data, down 54%. Total employees: 26 in October 2021 and 25 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Martingale Asset Management serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (11); investment companies (1).

**Which custodians does Martingale Asset Management use?**
Martingale Asset Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists J.P. Morgan Chase Bank, N.A. and Northern Trust as custodians holding 10% or more of its separately managed account assets.

**Does Martingale Asset Management 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/108526

**What changed in Martingale Asset Management's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 8 to 9.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- J.P. Morgan Chase Bank, N.A.
- Northern Trust

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: $4,177,115,595
- Discretionary: $4,177,115,595
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | Fewer than 5 | $83,062,214 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $23,798,991 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 11 | $1,715,612,035 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $305,881,729 |
| Charitable organizations | Not reported | $0 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $1,252,506,477 |
| Other investment advisers | 0 | $0 |
| Insurance companies | Fewer than 5 | $731,069,557 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | Fewer than 5 | $65,184,592 |
| Other | 0 | $0 |

### 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: 1987 (39 years)
- Employees: 25 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [martingale.com](https://martingale.com)
- LinkedIn @MARTINGALE-ASSET-MANAGEMENT

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $9,126,941,156 | 26 | March 23, 2021 |
| October 2022 | $8,073,960,587 | 24 | March 23, 2022 |
| October 2023 | $5,401,098,561 | 24 | March 27, 2023 |
| October 2024 | $5,111,616,089 | 24 | March 26, 2024 |
| October 2025 | $4,307,485,861 | 24 | March 26, 2025 |
| October 2026 | $4,177,115,595 | 25 | March 27, 2026 |

Regulatory assets under management: $9,126,941,156 in the October 2021 data and $4,177,115,595 in the October 2026 data, down 54%.
Total employees: 26 in October 2021 and 25 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 8 to 9.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Martingale Asset Management (CRD 108526): Form ADV filing data as of October 2026.