From the day job Look inside an investment adviser’s SEC filing
Projects: see this tool alongside the restEvery SEC-registered investment adviser files a Form ADV: how much it manages, for whom, and how. Reading these filings is where due diligence starts. It is the work my clients at Dasseti do, and the work I first did screening hedge funds at SkyBridge. Pick a firm, or compare BlackRock with Blackstone, the two names I once mixed up.
Filing snapshot
BlackRock Fund Advisors
Discretionary 100% Non-discretionary 0%
- Accounts
- 556
- Employees
- 128
- Non-U.S. clients
- 0%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Investment companies $4.28T 99.89%
- Pooled investment vehicles $3.21B <0.1%
- State or municipal government entities $1.37B <0.1%
One of several BlackRock advisers; BlackRock Financial Management, Inc. (CRD 107105) files separately. The Universe of Form ADV lists this entity at $3.05 trillion from an earlier bulk snapshot; this card uses the October 2, 2026 filing.
Other-than-annual amendment, filed Oct 2, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing · I Applied to Blackstone. I Interviewed at BlackRock.
Filing snapshot
Blackstone Management Partners
Discretionary 100% Non-discretionary 0%
- Accounts
- 36
- Employees
- 213
- Non-U.S. clients
- 42%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Pooled investment vehicles $145.7B 100%
Blackstone registers dozens of advisers with the SEC (real estate, credit, hedge fund solutions and more). This card is one of them, not the whole firm.
Annual amendment, filed Mar 30, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing · I Applied to Blackstone. I Interviewed at BlackRock.
Filing snapshot
Apollo Capital Management
Discretionary 98% Non-discretionary 2%
- Accounts
- 803
- Employees
- 3,564
- Non-U.S. clients
- 43%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Insurance companies $417.4B 58%
- Pooled investment vehicles $285.2B 40%
- Investment companies $9.91B 1%
- Other investment advisers $2.01B 0.3%
- Other: other financial institution $1.68B 0.2%
- Pension and profit sharing plans $1.49B 0.2%
- Sovereign wealth funds and foreign official institutions $522.9M <0.1%
- Banking or thrift institutions $254.5M <0.1%
Insurance companies are the largest client type in this filing, ahead of pooled investment vehicles.
Other-than-annual amendment, filed Oct 1, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing · Apollo Global Management: From Junk Bonds to the Beautiful Game
Filing snapshot
Andreessen Horowitz
Discretionary 100% Non-discretionary 0%
- Accounts
- 119
- Employees
- 738
- Non-U.S. clients
- 0%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Pooled investment vehicles $106.5B 100%
Annual amendment, filed Mar 30, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing · Andreessen Horowitz: The Firm That Rewrote the VC Rulebook
Filing snapshot
SkyBridge Capital II
Discretionary 100% Non-discretionary 0%
- Accounts
- 18
- Employees
- 24
- Non-U.S. clients
- 28%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Investment companies $1.42B 74%
- Pooled investment vehicles $495.6M 26%
Most of this RAUM sits in registered investment companies rather than private funds.
Annual amendment, filed Mar 31, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing
Filing snapshot
Citadel Advisors
Discretionary 100% Non-discretionary 0%
- Accounts
- 37
- Employees
- 3,284
- Non-U.S. clients
- 62%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Pooled investment vehicles $570.6B 100%
Regulatory AUM is gross: borrowings are not deducted, so a leveraged fund can report far more than the net assets usually quoted.
Other-than-annual amendment, filed Jun 11, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing
Filing snapshot
Bridgewater Associates
Discretionary 100% Non-discretionary 0%
- Accounts
- 133
- Employees
- 1,135
- Non-U.S. clients
- 71%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Pooled investment vehicles $114.7B 76%
- Other: advisory clients not captured in the above categories $12.60B 8%
- Sovereign wealth funds and foreign official institutions $8.85B 6%
- State or municipal government entities $7.96B 5%
- Pension and profit sharing plans $5.32B 4%
- Charitable organizations $683.4M 0.5%
- Banking or thrift institutions $11.7M <0.1%
Pensions, sovereign wealth funds and state entities sit alongside pooled vehicles in this filing.
Other-than-annual amendment, filed Aug 18, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing
Filing snapshot
CVC Advisors (U.S.)
Discretionary 0% Non-discretionary 100%
- Accounts
- 20
- Employees
- 70
- Non-U.S. clients
- 100%
- Fee arrangements
- Not in this snapshot
Client types by regulatory AUM, Item 5.D
- Pooled investment vehicles $25.56B 100%
Every dollar here is reported as non-discretionary, and every client is a non-U.S. person.
Other-than-annual amendment, filed Sep 14, 2026. Read from SEC IAPD on Oct 14, 2026. Open the filing · The Original Sports PE Firm: CVC Capital Partners
Side by side
| Item 5 | ||
|---|---|---|
| Regulatory AUM | ||
| Discretionary share | ||
| Accounts | ||
| Average RAUM per account | ||
| Employees | ||
| Largest client type | ||
| RAUM from non-U.S. persons | ||
| Filing date |
Average RAUM per account and shares are computed from the filed figures. Each row is one registered adviser entity, not a whole firm.