{
  "crd_number": 155231,
  "slug": "obra-capital-management-llc-new-york-ny-155231",
  "primary_business_name": "OBRA CAPITAL MANAGEMENT, LLC.",
  "legal_name": "OBRA CAPITAL MANAGEMENT, LLC.",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2010-11-04",
  "years_registered": 15,
  "period": "2026-10-01",
  "filing_date": "2026-09-23",
  "carried_forward": false,
  "raum_total": 5746830885.0,
  "raum_discretionary": 5555774378.0,
  "raum_non_discretionary": 191056507.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 132,
  "advisory_employees": 84,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 191056507.0,
      "count": 2,
      "description": "NON-DISCRETIONARY",
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 151878852.0,
      "count": 1,
      "fewer_than_5": true
    },
    "other_investment_advisers": {
      "raum": 22497689.0,
      "count": 1,
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 3570238475.0,
      "count": 33
    },
    "corporations_other_businesses": {
      "raum": 1811159362.0,
      "count": 27
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based",
    "subscription"
  ],
  "advisory_activities": [
    "periodicals_newsletters",
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 4,
  "states_registered": [
    "IL",
    "NY",
    "TX",
    "VT"
  ],
  "websites": [
    "https://kdpadvisor.com",
    "https://kdpam.com",
    "https://linkedin.com/company/obracapital",
    "https://obra.com",
    "https://x.com/obracapital"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155231",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.H(2)",
      "question": "Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/obra-capital-management-llc-new-york-ny-155231",
  "display_name": "Obra Capital Management, LLC.",
  "summary": "Obra Capital Management, LLC. is an SEC-registered investment advisory firm in New York, NY, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 23, 2026.",
  "citation": "AdvisorCensus. Obra Capital Management, LLC. (CRD 155231): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Subscription fees (for a newsletter or periodical)",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Publication of periodicals or newsletters"
  ],
  "quick_answers": [
    {
      "q": "How is Obra Capital Management, LLC. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Obra Capital Management, LLC. reports these compensation arrangements: a percentage of assets under its management; subscription fees (for a newsletter or periodical); performance-based fees; other."
    },
    {
      "q": "How much does Obra Capital Management, LLC. charge?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1% to 3% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Obra Capital Management, LLC. located?",
      "a": "Obra Capital Management, LLC.'s principal office is in New York, NY, according to its Form ADV; the October 2026 filing also lists 5 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Obra Capital Management, LLC. registered with the SEC or a state?",
      "a": "Obra Capital Management, LLC. is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 155231."
    },
    {
      "q": "How much does Obra Capital Management, LLC. manage?",
      "a": "Obra Capital Management, LLC. reports $5,746,830,885 in regulatory assets under management in its Form ADV filing dated September 23, 2026 (97% discretionary)."
    },
    {
      "q": "How have Obra Capital Management, LLC.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Obra Capital Management, LLC.: Regulatory assets under management: $277,583,328 in the October 2021 data and $5,746,830,885 in the October 2026 data, up 1970%. Total employees: 99 in October 2021 and 132 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Obra Capital Management, LLC. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (33); corporations or other businesses not listed above (27); other (2)."
    },
    {
      "q": "Which custodians does Obra Capital Management, LLC. use?",
      "a": "Obra Capital Management, LLC.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of NY Mellon and Citibank NA as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Obra Capital Management, LLC. report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/155231"
    },
    {
      "q": "What changed in Obra Capital Management, LLC.'s recent Form ADV filings?",
      "a": "In the October 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 277583328.0,
      "total_employees": 99,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 235096047.0,
      "total_employees": 86,
      "filing_date": "2022-08-10"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 274978396.0,
      "total_employees": 91,
      "filing_date": "2023-08-05"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2683108075.0,
      "total_employees": 113,
      "filing_date": "2024-09-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 3601716924.0,
      "total_employees": 103,
      "filing_date": "2025-05-01"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 5746830885.0,
      "total_employees": 132,
      "filing_date": "2026-09-23"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 60 to 84.",
        "Regulatory assets under management went from $3,601,716,924 to $5,746,830,885 (+60%)."
      ]
    },
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1% to 3% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% to 3% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Obra generally receives  between 1% and 3% per annum of the net asset value of each Client’s account or, in the case of certain accounts and closed- end Funds, between 1% and 3% of committed capital during the investment period"
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.0,
        3.0
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Obra generally receives  between 1% and 3% per annum of the net asset value of each Client’s account or, in the case of certain accounts and closed- end Funds, between 1% and 3% of committed capital during the investment period"
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Bank of NY Mellon",
      "name_as_filed": "BANK OF NY MELLON",
      "affiliated": false
    },
    {
      "name": "Citibank NA",
      "name_as_filed": "CITIBANK NA",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/obra-capital-management-llc-new-york-ny-155231.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 33,
      "fewer_than_5": false,
      "raum": 3570238475.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 1,
      "fewer_than_5": true,
      "raum": 22497689.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 1,
      "fewer_than_5": true,
      "raum": 151878852.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 27,
      "fewer_than_5": false,
      "raum": 1811159362.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": true,
      "raum": 191056507.0
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/155231",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}