Graham Capital Management, L.P.
- Regulatory AUM
- $42.9B
- Discretionary
- $42.9B
- Clients
- 35
- Avg AUM / client
- $1.2B
- Accounts
- 35
- Employees
- 209
AUM over time
Annual snapshots from Form ADV filings · as of Jul 07, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Investment companies | 7 | $0 | — |
| Pooled investment vehicles (non-investment companies) | 28 | $42.9B | 100.0% |
Private funds (16)
View all →Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $18.5B combined gross assets
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Iuoe Local 30 Pension Fund Bd Of Trustees Iuoe Local 30 Pension Fund | 2024 |
People (8)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Tropin, Kenneth, G | Chairman | Jun 1994 (32y) | Less than 5% | |
| Sperry, Timothy, David | Chief Compliance Officer | Aug 2004 (22y) | Less than 5% | |
| Calderini, Pablo, Enrique | President And Chief Investment Officer | Jun 2012 (14y) | Less than 5% | |
| Schrade, George, Michael | Chief Financial Officer | Mar 2019 (7y) | Less than 5% | |
| Slutsky, Jason | Chief Legal Officer | Feb 2020 (7y) | Less than 5% | |
| Karam, Bachir, P | Trustee | Aug 2020 (6y) | GP / trustee / elected manager of The Kenneth G. Tropin Family Trust (indirect) | |
| Sedlack, Paul, George | Trustee | Aug 2020 (6y) | GP / trustee / elected manager of The Kenneth G. Tropin Family Trust (indirect) | |
| Douglas, Brian, Kevin | Chief Executive Officer | Oct 2021 (5y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Kgt Investment Partners, L.P. | Limited Partner | Jun 1994 | A | 75% or more |
| Kgt, Inc. | General Partner | Jun 1994 | A | Less than 5% |
| Kgt Capital Limited Partnership | Limited Partner | Jun 1994 | B | ≈ 56.25% – 100% via Kgt Investment Partners, L.P. |
| Kenneth G. Tropin Revocable Trust | Shareholder | Jun 1994 | B | ≈ 0% – 5% via Kgt, Inc. |
| The Kenneth G. Tropin Family Trust | Limited Partner | Aug 2020 | B | ≈ 14.06% – 50% via Kgt Capital Limited Partnership |
| Kgt, Inc. | General Partner | Jun 1994 | B | GP / trustee / elected manager of Kgt Capital Limited Partnership (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Kgt Capital Limited Partnership: 75% – 100% of Kgt Investment Partners, L.P. × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Kenneth G. Tropin Revocable Trust: 75% – 100% of Kgt, Inc. × 0% – 5% direct ≈ 0% – 5% of the firm
- The Kenneth G. Tropin Family Trust: 25% – 50% of Kgt Capital Limited Partnership × 75% – 100% of Kgt Investment Partners, L.P. × 75% – 100% direct ≈ 14.06% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (16, $18.5B gross assets)
From Form ADV Section 7.B private fund reporting.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Iuoe Local 30 Pension Fund | Bd Of Trustees Iuoe Local 30 Pension Fund | 2,514 | $367M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 07/07/2026 | 4.98 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
- • Other fees
- • PASS THROUGH EXPENSE REIMBURSEMENT
Services
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 07, 2026.
View current Form ADV (SEC/IAPD) ↗