# Verdad Advisers, L.P.

> Verdad Advisers, L.P. is an SEC-registered investment advisory firm in Boston, MA, registered since 2019, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.

- CRD: 171048
- Filed as: VERDAD ADVISERS, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Boston, MA
- Filing period: October 2026
- Form ADV filing dated: October 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/171048
- AdvisorCensus page: https://advisorcensus.com/firm/verdad-advisers-l-p-boston-ma-171048

## Quick answers

**How is Verdad Advisers, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Verdad Advisers, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Verdad Advisers, L.P. located?**
Verdad Advisers, L.P.'s principal office is in Boston, MA, according to its Form ADV.

**Is Verdad Advisers, L.P. registered with the SEC or a state?**
Verdad Advisers, L.P. is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 171048.

**How much does Verdad Advisers, L.P. manage?**
Verdad Advisers, L.P. reports $1,180,312,357 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary).

**How have Verdad Advisers, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Verdad Advisers, L.P.: Regulatory assets under management: $492,367,779 in the October 2021 data and $1,180,312,357 in the October 2026 data, up 140%. Total employees: 6 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Verdad Advisers, L.P. serve?**
By number of clients on Form ADV Item 5.D: other (19); pooled investment vehicles (other than investment companies and business development companies) (14).

**Which custodians does Verdad Advisers, L.P. use?**
Verdad Advisers, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Securities, Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Verdad Advisers, 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/171048

**What changed in Verdad Advisers, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 8. Regulatory assets under management went from $867,295,382 to $1,180,312,357 (+36%).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Northern Trust Securities, Inc.

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: $1,180,312,357
- Discretionary: $1,180,312,357
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 14 | $692,849,597 |
| Other | 19 | $487,462,760 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2019 (7 years)
- Employees: 8 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- verdadcap.com
- LinkedIn @verdad-fund-advisers
- X @VERDADCAP
- X @VERDADCAP_QUANT

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $492,367,779 | 6 | July 13, 2021 |
| October 2022 | $487,551,907 | 7 | March 18, 2022 |
| October 2023 | $632,480,290 | 6 | March 27, 2023 |
| October 2024 | $740,543,488 | 8 | March 12, 2024 |
| October 2025 | $867,295,382 | 7 | March 4, 2025 |
| October 2026 | $1,180,312,357 | 8 | October 1, 2026 |

Regulatory assets under management: $492,367,779 in the October 2021 data and $1,180,312,357 in the October 2026 data, up 140%.
Total employees: 6 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 8.
- Regulatory assets under management went from $867,295,382 to $1,180,312,357 (+36%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Verdad Advisers, L.P. (CRD 171048): Form ADV filing data as of October 2026.