# Net Return Asset Management LLC

> Net Return Asset Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 159895
- Filed as: NET RETURN ASSET MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/159895
- AdvisorCensus page: https://advisorcensus.com/firm/net-return-asset-management-llc-new-york-ny-159895

## Quick answers

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

**Is Net Return Asset Management LLC registered with the SEC or a state?**
Net Return Asset Management LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 159895.

**How much does Net Return Asset Management LLC manage?**
Net Return Asset Management LLC reports $803,278,426 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Net Return Asset Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Net Return Asset Management LLC: Regulatory assets under management: $600,259,617 in the October 2021 data and $803,278,426 in the October 2026 data, up 34%. Total employees: 3 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Net Return 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) (3).

**Does Net Return 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/159895

**What changed in Net Return Asset Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $683,112,087 to $803,278,426 (+18%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $803,278,426
- Discretionary: $803,278,426
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $803,278,426 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 3 total, 1 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $600,259,617 | 3 | March 31, 2021 |
| October 2022 | $692,634,781 | 3 | March 29, 2022 |
| October 2023 | $563,057,394 | 3 | March 29, 2023 |
| October 2024 | $587,613,965 | 3 | March 27, 2024 |
| October 2025 | $683,112,087 | 3 | March 26, 2025 |
| October 2026 | $803,278,426 | 3 | March 24, 2026 |

Regulatory assets under management: $600,259,617 in the October 2021 data and $803,278,426 in the October 2026 data, up 34%.
Total employees: 3 in October 2021 and 3 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $683,112,087 to $803,278,426 (+18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Net Return Asset Management LLC (CRD 159895): Form ADV filing data as of October 2026.