AdvisorCensus / Financial advisors / California / San Francisco / Menlo Equities
Menlo Equities is an SEC-registered investment advisory firm in Menlo Park, CA, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 12, 2026.
Quick answers
From the filingHow is Menlo Equities compensated?
On its Form ADV (Item 5.E, October 2026), Menlo Equities reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other.
What does Menlo Equities' brochure say about its fees?
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1.25% to 1.75% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Menlo Equities located?
Menlo Equities' principal office is in Menlo Park, CA, according to its Form ADV; the June 2026 filing also lists 2 other offices (Schedule D, Section 1.F).
Is Menlo Equities registered with the SEC or a state?
Menlo Equities is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 162139.
How much does Menlo Equities manage?
Menlo Equities reports $4,694,941,710 in regulatory assets under management in its Form ADV filing dated May 12, 2026 (64% discretionary).
How have Menlo Equities' assets and staff changed since 2021?
In the Form ADV data for Menlo Equities: Regulatory assets under management: $2,477,980,566 in the October 2021 data and $4,694,941,710 in the October 2026 data, up 89%. Total employees: 23 in October 2021 and 52 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Menlo Equities serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (9); corporations or other businesses not listed above (3).
Does Menlo Equities 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/162139
What changed in Menlo Equities' recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 17 to 16. Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 1.25% to 1.75% a year (a range, as the brochure states it)
The brochure's wording
The Management Fee for each closed end fund is equal to a percentage ranging from 1.25% to 1.75% of the capital outstanding of each Fund investor from the initial closing of the Fund through the end of the Fund’s investment period.
As stated in the firm's Form ADV Part 2A brochure dated March 31, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$4,694,941,710 as of October 2026, filing dated May 12, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
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
Registration and firm details
Items 1, 2, 5- Legal name
- Menlo Equities V LLC
- Also doing business as
- ME DIGITAL PARTNERS LP, MENLO EQUITIES VI LP, MENLO EQUITIES VII LP
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2012 (14 years)
- Employees
- Total: 52. Performing investment advisory functions: 16.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
2 other offices, as of the June 2026 filing
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $4,694,941,710 | 52 | May 12, 2026 |
| October 2025 | $4,490,869,924 | 42 | April 10, 2025 |
| October 2024 | $3,208,475,878 | 41 | March 26, 2024 |
| October 2023 | $3,073,806,650 | 30 | May 2, 2023 |
| October 2022 | $3,032,627,495 | 27 | March 31, 2022 |
| October 2021 | $2,477,980,566 | 23 | March 31, 2021 |
Regulatory assets under management: $2,477,980,566 in the October 2021 data and $4,694,941,710 in the October 2026 data, up 89%.
Total employees: 23 in October 2021 and 52 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 17 to 16.
- Updated its list of owners and control persons (Schedule A).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Menlo Equities (CRD 162139): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/menlo-equities-menlo-park-ca-162139