# Unless Management LP

> Unless Management LP is an SEC-registered investment advisory firm in Boulder, CO, registered since 2026, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 17, 2026.

- CRD: 318549
- Filed as: UNLESS MANAGEMENT LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boulder, CO
- Filing period: October 2026
- Form ADV filing dated: July 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/318549
- AdvisorCensus page: https://advisorcensus.com/firm/unless-management-lp-boulder-co-318549

## Quick answers

**How is Unless Management LP compensated?**
On its Form ADV (Item 5.E, October 2026), Unless Management LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Unless Management LP located?**
Unless Management LP's principal office is in Boulder, CO, according to its Form ADV.

**Is Unless Management LP registered with the SEC or a state?**
Unless Management LP is an SEC-registered investment advisory firm, registered since 2026. Status as filed: Approved. CRD 318549.

**How much does Unless Management LP manage?**
Unless Management LP reports $252,725,527 in regulatory assets under management in its Form ADV filing dated July 17, 2026 (100% discretionary).

**What types of clients does Unless Management 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 Unless Management 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/318549

**What changed in Unless Management LP's recent Form ADV filings?**
In the August 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
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $252,725,527
- Discretionary: $252,725,527
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $252,725,527 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2026 (0 years)
- Employees: 4 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CO
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- unless.co
- LinkedIn @unlesspartners

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | Not reported | Not reported | March 7, 2022 |
| October 2023 | Not reported | Not reported | March 24, 2023 |
| October 2024 | Not reported | Not reported | January 3, 2024 |
| October 2025 | Not reported | Not reported | February 11, 2025 |
| October 2026 | $252,725,527 | 4 | July 17, 2026 |


## Changes in the filing (last 12 months)

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Unless Management LP (CRD 318549): Form ADV filing data as of October 2026.