# Obra Fund Management, LLC

> Obra Fund Management, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2024, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated September 23, 2026.

- CRD: 328207
- Filed as: OBRA FUND MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/328207
- AdvisorCensus page: https://advisorcensus.com/firm/obra-fund-management-llc-new-york-ny-328207

## Quick answers

**How is Obra Fund Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Obra Fund Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**How much does Obra Fund Management, LLC charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: up to 0.63% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Obra Fund Management, LLC located?**
Obra Fund Management, LLC's principal office is in New York, NY, according to its Form ADV.

**Is Obra Fund Management, LLC registered with the SEC or a state?**
Obra Fund Management, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 328207.

**How much does Obra Fund Management, LLC manage?**
Obra Fund Management, LLC reports $71,644,067 in regulatory assets under management in its Form ADV filing dated September 23, 2026 (100% discretionary).

**How have Obra Fund Management, LLC's assets and staff changed since 2024?**
In the Form ADV data for Obra Fund Management, LLC: Regulatory assets under management: $0 in the October 2024 data and $71,644,067 in the October 2026 data. Total employees: 18 in October 2024 and 47 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Obra Fund Management, LLC serve?**
By number of clients on Form ADV Item 5.D: investment companies (3).

**Does Obra Fund 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/328207

**What changed in Obra Fund Management, LLC's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Asset-based fee: up to 0.63% of assets a year (the maximum the brochure states)

> In general, management fees charged by OFM to the Funds range up to 0. 63% per annum of the average daily net assets of each Fund.

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

### Regulatory assets under management (Item 5.F)
- Total: $71,644,067
- Discretionary: $71,644,067
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 3 | $71,644,067 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2024 (2 years)
- Employees: 47 total, 40 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- obra.com
- obrafunds.com
- LinkedIn @obracapital
- X @obracapital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $0 | 18 | March 29, 2024 |
| October 2025 | $47,868,542 | 33 | March 31, 2025 |
| October 2026 | $71,644,067 | 47 | September 23, 2026 |

Regulatory assets under management: $0 in the October 2024 data and $71,644,067 in the October 2026 data.
Total employees: 18 in October 2024 and 47 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Regulatory assets under management went from $47,868,542 to $71,644,067 (+50%).
- Employees performing advisory functions went from 5 to 40.

### March 2026
- Updated its list of owners and control persons (Schedule A).

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Obra Fund Management, LLC (CRD 328207): Form ADV filing data as of October 2026.