# Numerai

> Numerai is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2022, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 22, 2026.

- CRD: 282851
- Filed as: NUMERAI
- Legal name: Numerai GP LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: September 22, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282851
- AdvisorCensus page: https://advisorcensus.com/firm/numerai-san-francisco-ca-282851

## Quick answers

**How is Numerai compensated?**
On its Form ADV (Item 5.E, October 2026), Numerai 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 Numerai located?**
Numerai's principal office is in San Francisco, CA, according to its Form ADV.

**Is Numerai registered with the SEC or a state?**
Numerai is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 282851.

**How much does Numerai manage?**
Numerai reports $1,903,690,264 in regulatory assets under management in its Form ADV filing dated September 22, 2026 (100% discretionary).

**How have Numerai's assets and staff changed since 2021?**
In the Form ADV data for Numerai: Regulatory assets under management: $149,667,000 in the October 2022 data and $1,903,690,264 in the October 2026 data, up 1172%. Total employees: 8 in October 2022 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Numerai serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10); charitable organizations (1).

**Which custodians does Numerai use?**
Numerai's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists UBS Securities LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Numerai 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/282851

**What changed in Numerai's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $838,992,856 to $1,903,690,264 (+127%).

## 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))
- UBS Securities LLC

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: $1,903,690,264
- Discretionary: $1,903,690,264
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $1,169,661,658 |
| Charitable organizations | 1 | $734,028,606 |

### 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

### Firm details
- Registered since: 2022 (4 years)
- Employees: 12 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [angel.co/NUMERAI](https://angel.co/NUMERAI)
- [medium.com/NUMERAI](https://medium.com/NUMERAI)
- [numer.ai](https://numer.ai)
- [numerai.fund](https://numerai.fund)
- [vimeo.com/NUMERAI](https://vimeo.com/NUMERAI)
- Facebook @NUMERAI
- LinkedIn @numerai
- X @NUMERAI
- YouTube @Numerai

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | March 29, 2021 |
| October 2022 | $149,667,000 | 8 | August 11, 2022 |
| October 2023 | $388,815,449 | 10 | March 29, 2023 |
| October 2024 | $692,410,757 | 11 | March 29, 2024 |
| October 2025 | $838,992,856 | 11 | April 11, 2025 |
| October 2026 | $1,903,690,264 | 12 | September 22, 2026 |

Regulatory assets under management: $149,667,000 in the October 2022 data and $1,903,690,264 in the October 2026 data, up 1172%.
Total employees: 8 in October 2022 and 12 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $838,992,856 to $1,903,690,264 (+127%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Numerai (CRD 282851): Form ADV filing data as of October 2026.