# Meketa Fiduciary Management, LLC

> Meketa Fiduciary Management, LLC is an SEC-registered investment advisory firm in Carlsbad, CA, registered since 2022, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 26, 2026.

- CRD: 323605
- Filed as: MEKETA FIDUCIARY MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Carlsbad, CA
- Filing period: October 2026
- Form ADV filing dated: March 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/323605
- AdvisorCensus page: https://advisorcensus.com/firm/meketa-fiduciary-management-llc-carlsbad-ca-323605

## Quick answers

**How is Meketa Fiduciary Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Meketa Fiduciary Management, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

**Where is Meketa Fiduciary Management, LLC located?**
Meketa Fiduciary Management, LLC's principal office is in Carlsbad, CA, according to its Form ADV; the April 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Meketa Fiduciary Management, LLC registered with the SEC or a state?**
Meketa Fiduciary Management, LLC is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 323605.

**How much does Meketa Fiduciary Management, LLC manage?**
Meketa Fiduciary Management, LLC reports $20,144,000,000 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (98% discretionary).

**How have Meketa Fiduciary Management, LLC's assets and staff changed since 2023?**
In the Form ADV data for Meketa Fiduciary Management, LLC: Regulatory assets under management: $16,400,000,000 in the October 2023 data and $20,144,000,000 in the October 2026 data, up 23%. Total employees: 1 in October 2023 and 1 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Meketa Fiduciary Management, LLC serve?**
By number of clients on Form ADV Item 5.D: charitable organizations (23); pension and profit sharing plans (but not the plan participants or government pension plans) (21).

**Which custodians does Meketa Fiduciary Management, LLC use?**
Meketa Fiduciary Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust, State Street Bank and US Bank as custodians holding 10% or more of its separately managed account assets.

**Does Meketa Fiduciary 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/323605

**Does Meketa Fiduciary Management, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 26, 2026 says: "We do not have any minimum requirements (such as minimum account size) for an advisory relationship."

**What changed in Meketa Fiduciary Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $17,437,000,000 to $20,144,000,000 (+16%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 26, 2026)

- Account minimum: None

> We do not have any minimum requirements (such as minimum account size) for an advisory relationship.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Northern Trust
- State Street Bank
- US Bank

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: $20,144,000,000
- Discretionary: $19,661,000,000
- Non-discretionary: $483,000,000

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | Fewer than 5 | $14,000,000 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 21 | $16,597,000,000 |
| Charitable organizations | 23 | $3,023,000,000 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $62,000,000 |
| Other | Fewer than 5 | $448,000,000 |

### Advisory services (Item 5.G)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2022 (3 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, IL, MA, NY, OR
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Chicago, IL
- London
- New York, NY
- Portland, OR
- Westwood, NY

### Websites listed on Form ADV (Item 1.I)
- meketa.com
- LinkedIn @meketa-investment-group
- X @MeketaInvGrp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | $16,400,000,000 | 1 | July 7, 2023 |
| October 2024 | $16,949,000,000 | 1 | March 25, 2024 |
| October 2025 | $17,437,000,000 | 1 | March 20, 2025 |
| October 2026 | $20,144,000,000 | 1 | March 26, 2026 |

Regulatory assets under management: $16,400,000,000 in the October 2023 data and $20,144,000,000 in the October 2026 data, up 23%.
Total employees: 1 in October 2023 and 1 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $17,437,000,000 to $20,144,000,000 (+16%).

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Meketa Fiduciary Management, LLC (CRD 323605): Form ADV filing data as of October 2026.