AdvisorCensus / Financial advisors / California / San Francisco / Soma Equity Partners, LP
Soma Equity Partners, LP is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2016, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.
Quick answers
From the filingHow is Soma Equity Partners, LP compensated?
On its Form ADV (Item 5.E, October 2026), Soma Equity Partners, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.
What does Soma Equity Partners, LP's brochure say about its fees?
Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: 1% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Soma Equity Partners, LP located?
Soma Equity Partners, LP's principal office is in San Francisco, CA, according to its Form ADV.
Is Soma Equity Partners, LP registered with the SEC or a state?
Soma Equity Partners, LP is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 283613.
How much does Soma Equity Partners, LP manage?
Soma Equity Partners, LP reports $1,946,491,854 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).
How have Soma Equity Partners, LP's assets and staff changed since 2021?
In the Form ADV data for Soma Equity Partners, LP: Regulatory assets under management: $4,547,506,111 in the October 2021 data and $1,946,491,854 in the October 2026 data, down 57%. Total employees: 12 in October 2021 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Soma Equity Partners, LP serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (4).
Does Soma Equity Partners, 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/283613
Does Soma Equity Partners, LP state an account minimum?
Its Form ADV Part 2A brochure dated March 27, 2026 says: "The minimum initial contribution for Investors is generally $1,000,000. However, the minimum initial contribution is subject to reduction or waiver at the discretion of the Fund’s General Partner or directors, as applicable"
What changed in Soma Equity Partners, LP's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 5 to 4. No longer lists an office in Stamford, CT.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 1% to 2% a year (a range, as the brochure states it)
The brochure's wording
SoMa generally charges an annual Management Fee that can range from 1.0% to 2.0% of the net assets under management, payable monthly in advance (“Management Fee”).
Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)
The brochure's wording
The minimum initial contribution for Investors is generally $1,000,000. However, the minimum initial contribution is subject to reduction or waiver at the discretion of the Fund’s General Partner or directors, as applicable
As stated in the firm's Form ADV Part 2A brochure dated March 27, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,946,491,854 as of October 2026, filing dated March 27, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2016 (9 years)
- Employees
- Total: 15. Performing investment advisory functions: 4.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
2 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $1,946,491,854 | 15 | March 27, 2026 |
| October 2025 | $2,140,357,266 | 15 | March 27, 2025 |
| October 2024 | $2,405,314,780 | 15 | March 27, 2024 |
| October 2023 | $2,508,040,345 | 13 | March 28, 2023 |
| October 2022 | $3,957,800,330 | 13 | July 12, 2022 |
| October 2021 | $4,547,506,111 | 12 | March 25, 2021 |
Regulatory assets under management: $4,547,506,111 in the October 2021 data and $1,946,491,854 in the October 2026 data, down 57%.
Total employees: 12 in October 2021 and 15 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 5 to 4.
- No longer lists an office in Stamford, CT.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Soma Equity Partners, LP (CRD 283613): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/soma-equity-partners-lp-san-francisco-ca-283613