# Sepio Capital, LP

> Sepio Capital, LP is an SEC-registered investment advisory firm in Salt Lake City, UT, registered since 2017, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 27, 2026.

- CRD: 285645
- Filed as: SEPIO CAPITAL, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Salt Lake City, UT
- Filing period: October 2026
- Form ADV filing dated: April 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/285645
- AdvisorCensus page: https://advisorcensus.com/firm/sepio-capital-lp-salt-lake-city-ut-285645

## Quick answers

**How is Sepio Capital, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Sepio Capital, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Sepio Capital, LP located?**
Sepio Capital, LP's principal office is in Salt Lake City, UT, according to its Form ADV.

**Is Sepio Capital, LP registered with the SEC or a state?**
Sepio Capital, LP is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 285645.

**How much does Sepio Capital, LP manage?**
Sepio Capital, LP reports $5,641,210,181 in regulatory assets under management in its Form ADV filing dated April 27, 2026 (89% discretionary).

**How have Sepio Capital, LP's assets and staff changed since 2021?**
In the Form ADV data for Sepio Capital, LP: Regulatory assets under management: $4,422,858,591 in the October 2021 data and $5,641,210,181 in the October 2026 data, up 28%. Total employees: 25 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sepio Capital, LP serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (276); pooled investment vehicles (other than investment companies and business development companies) (10); charitable organizations (7).

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

**Does Sepio Capital, LP 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/285645

**What changed in Sepio Capital, LP's recent Form ADV filings?**
In the May 2026 filing data: Registered or notice-filed in AR. 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
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services 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: $5,641,210,181
- Discretionary: $5,037,980,206
- Non-discretionary: $603,229,975

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 276 | $4,148,057,925 |
| Investment companies | 2 | $628,022,856 |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $323,193,700 |
| Charitable organizations | 7 | $541,935,700 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- 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
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2017 (9 years)
- Employees: 31 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, KS, LA, MA, MD, MI, MT, NC, NE, NH, NV, NY, OK, OR, PA, SD, TN, TX, UT, VA, WA, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [sepiocap.com](https://sepiocap.com)
- LinkedIn @SEPIOCAP-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,422,858,591 | 25 | September 7, 2021 |
| October 2022 | $6,241,513,643 | 30 | May 17, 2022 |
| October 2023 | $5,059,745,774 | 29 | June 21, 2023 |
| October 2024 | $6,672,033,386 | 24 | May 22, 2024 |
| October 2025 | $4,464,814,589 | 27 | July 28, 2025 |
| October 2026 | $5,641,210,181 | 31 | April 27, 2026 |

Regulatory assets under management: $4,422,858,591 in the October 2021 data and $5,641,210,181 in the October 2026 data, up 28%.
Total employees: 25 in October 2021 and 31 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Registered or notice-filed in AR.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 17 to 18.
- Regulatory assets under management went from $4,464,814,589 to $5,641,210,181 (+26%).
- Registered or notice-filed in AK, DC, DE, ID, KS, MA, MI, MT, NC, OK, OR, PA, SD, VA, WA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sepio Capital, LP (CRD 285645): Form ADV filing data as of October 2026.