# Tran Capital Management, L.P.

> Tran Capital Management, L.P. is an SEC-registered investment advisory firm in San Rafael, CA, registered since 1974, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated February 23, 2026.

- CRD: 107049
- Filed as: TRAN CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Rafael, CA
- Filing period: October 2026
- Form ADV filing dated: February 23, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107049
- AdvisorCensus page: https://advisorcensus.com/firm/tran-capital-management-l-p-san-rafael-ca-107049

## Quick answers

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

**Where is Tran Capital Management, L.P. located?**
Tran Capital Management, L.P.'s principal office is in San Rafael, CA, according to its Form ADV.

**Is Tran Capital Management, L.P. registered with the SEC or a state?**
Tran Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 1974. Status as filed: Approved. CRD 107049.

**How much does Tran Capital Management, L.P. manage?**
Tran Capital Management, L.P. reports $890,294,385 in regulatory assets under management in its Form ADV filing dated February 23, 2026 (98% discretionary).

**How have Tran Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Tran Capital Management, L.P.: Regulatory assets under management: $1,173,406,966 in the October 2021 data and $890,294,385 in the October 2026 data, down 24%. Total employees: 11 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Tran Capital Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (215); high net worth individuals (78); other (19).

**Which custodians does Tran Capital Management, L.P. use?**
Tran Capital Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Brokerage Services LLC and First Financial Trust as custodians holding 10% or more of its separately managed account assets.

**Does Tran Capital Management, L.P. 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/107049

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Brokerage Services LLC
- First Financial Trust

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: $890,294,385
- Discretionary: $873,799,859
- Non-discretionary: $16,494,526

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 215 | $202,716,578 |
| High net worth individuals | 78 | $343,155,107 |
| Investment companies | 1 | $24,602,901 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 4 | $13,475,023 |
| Charitable organizations | 17 | $166,586,646 |
| Corporations or other businesses not listed above | 14 | $123,263,603 |
| Other | 19 | $16,494,527 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1974 (52 years)
- Employees: 7 total, 3 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- trancapital.com
- LinkedIn @tran-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,173,406,966 | 11 | June 7, 2021 |
| October 2022 | $1,438,843,961 | 8 | June 22, 2022 |
| October 2023 | $868,413,131 | 8 | March 15, 2023 |
| October 2024 | $944,502,018 | 7 | February 26, 2024 |
| October 2025 | $958,743,001 | 7 | April 1, 2025 |
| October 2026 | $890,294,385 | 7 | February 23, 2026 |

Regulatory assets under management: $1,173,406,966 in the October 2021 data and $890,294,385 in the October 2026 data, down 24%.
Total employees: 11 in October 2021 and 7 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Tran Capital Management, L.P. (CRD 107049): Form ADV filing data as of October 2026.