{ "crd_number": 120440, "slug": "research-affiliates-newport-beach-ca-120440", "primary_business_name": "RESEARCH AFFILIATES", "legal_name": "SYZYGY ASSET MANAGEMENT, LLC", "dbas": [], "city": "Newport Beach", "state": "CA", "country": "United States", "cbsa_code": "31080", "metro": { "cbsa_code": "31080", "common_name": "Los Angeles", "msa_name": "Los Angeles-Long Beach-Anaheim, CA", "path": "/advisors/ca/los-angeles" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2002-05-10", "years_registered": 24, "period": "2026-10-01", "filing_date": "2026-09-18", "carried_forward": false, "raum_total": 32222800756.0, "raum_discretionary": 30066022009.0, "raum_non_discretionary": 2156778747.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 31, "advisory_employees": 15, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "state_municipal": { "raum": 4679534250.0, "count": 5 }, "investment_companies": { "raum": 22073939019.0, "count": 15 }, "pension_profit_sharing": { "raum": 767263976.0, "count": 3, "fewer_than_5": true }, "pooled_investment_vehicles": { "raum": 4702063511.0, "count": 9 } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "other", "portfolio_management_businesses_institutional", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "CA" ], "websites": [ "https://linkedin.com/company/syzygy-asset-management", "https://syzygyassetmanagement.com", "https://x.com/SyzygyAssetMgmt", "https://youtube.com/user/SyzygyAssetManagement" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/120440", "city_as_filed": "NEWPORT BEACH", "url": "https://advisorcensus.com/firm/research-affiliates-newport-beach-ca-120440", "display_name": "Research Affiliates", "summary": "Research Affiliates is an SEC-registered investment advisory firm in Newport Beach, CA, registered since 2002, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 18, 2026.", "citation": "AdvisorCensus. Research Affiliates (CRD 120440): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management" ], "advisory_activity_labels": [ "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients", "Other" ], "quick_answers": [ { "q": "How is Research Affiliates compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Research Affiliates reports these compensation arrangements: a percentage of assets under its management." }, { "q": "Where is Research Affiliates located?", "a": "Research Affiliates' principal office is in Newport Beach, CA, according to its Form ADV." }, { "q": "Is Research Affiliates registered with the SEC or a state?", "a": "Research Affiliates is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 120440." }, { "q": "How much does Research Affiliates manage?", "a": "Research Affiliates reports $32,222,800,756 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (93% discretionary)." }, { "q": "How have Research Affiliates' assets and staff changed since 2021?", "a": "In the Form ADV data for Research Affiliates: Regulatory assets under management: $31,312,484,943 in the October 2021 data and $32,222,800,756 in the October 2026 data, up 3%. Total employees: 69 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Research Affiliates serve?", "a": "By number of clients on Form ADV Item 5.D: investment companies (15); pooled investment vehicles (other than investment companies and business development companies) (9); state or municipal government entities (including government pension plans) (5)." }, { "q": "Does Research Affiliates report any disciplinary disclosures?", "a": "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/120440" }, { "q": "What changed in Research Affiliates' recent Form ADV filings?", "a": "In the October 2026 filing data: Changed its legal name from Research Affiliates, LLC to Syzygy Asset Management, LLC. Employees performing advisory functions went from 29 to 15. Regulatory assets under management went from $27,844,764,168 to $32,222,800,756 (+16%). Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 31312484943.0, "total_employees": 69, "filing_date": "2021-08-02" }, { "period": "2022-10-01", "regulatory_assets_under_management": 35071609004.0, "total_employees": 81, "filing_date": "2022-06-24" }, { "period": "2023-10-01", "regulatory_assets_under_management": 27737473504.0, "total_employees": 65, "filing_date": "2023-07-18" }, { "period": "2024-10-01", "regulatory_assets_under_management": 28392009518.0, "total_employees": 67, "filing_date": "2024-07-10" }, { "period": "2025-10-01", "regulatory_assets_under_management": 26308896262.0, "total_employees": 71, "filing_date": "2025-05-22" }, { "period": "2026-10-01", "regulatory_assets_under_management": 32222800756.0, "total_employees": 31, "filing_date": "2026-09-18" } ], "recent_changes": [ { "period": "2026-10-01", "period_label": "October 2026", "notes": [ "Changed its legal name from Research Affiliates, LLC to Syzygy Asset Management, LLC.", "Employees performing advisory functions went from 29 to 15.", "Regulatory assets under management went from $27,844,764,168 to $32,222,800,756 (+16%).", "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 35 to 29." ] }, { "period": "2025-12-01", "period_label": "December 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/research-affiliates-newport-beach-ca-120440.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 15, "fewer_than_5": false, "raum": 22073939019.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 9, "fewer_than_5": false, "raum": 4702063511.0 }, { "type": "pension_profit_sharing", "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)", "count": 3, "fewer_than_5": true, "raum": 767263976.0 }, { "type": "state_municipal", "label": "State or municipal government entities (including government pension plans)", "count": 5, "fewer_than_5": false, "raum": 4679534250.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "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/120440", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }