Middleground Management provides portfolio management for pooled vehicles. The firm advises 24 private funds.
Middleground Management reports 24 pooled investment vehicles. These counts refer to investment vehicles, rather than the individual investors in them. Of its assets, 100.0% ($3.89B across 24 accounts) are managed with discretion. Of its clients, 4% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 100% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 24 | $3.89B | 100.0% | $162M |
| Total | 24 | $3.89B | 100% | $162M |
- Clients
- 24
- Regulatory AUM
- $3.89B
- AUM share
- 100.0%
- Avg. per client
- $162M
Total
- Clients
- 24
- Regulatory AUM
- $3.89B
- AUM share
- 100%
- Avg. per client
- $162M
- Clients outside the U.S.
- 4%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 24
Middleground Management is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
John Stewart owns 25% to 50% of Middleground Management. John Stewart is CEO; the leadership team includes Chief Operating Officer Scot Duncan, Chief Financial Officer Jonathan La and Chief Compliance Officer Monica McClinton. It has 111 employees, 38 of them in advisory roles.
Staff
- 111 employees
- 38 in advisory functions
- Owns 25% to 50% of Middleground Management, LP
John Stewart
Control person · since October 2017
- Owns 25% to 50% of Middleground Management, LP
Scot Duncan
Control person · since October 2017
- Owns 10% to 25% of Middleground Management, LP
Christopher Speight
Control person · since September 2023
- Owns 10% to 25% of Middleground Management, LP
Christen Paras
Control person · since January 2023
- Owns 5% to 10% of Middleground Management, LP
Monica McClinton
Control person · since April 2018
- Owns 5% to 10% of Middleground Management, LP
Justin Steil
Control person · since January 2023
Middleground Management’s regulatory assets grew 5.7× from $687M (March 2021) to $3.89B (May 2026); clients rose from 4 to 24 and employees from 35 to 111.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| May 2026May 2026 | $3.89B | 24 | 111 | 3 |
| May 2025May 2025 | $4.11B | 24 | 116 | 3 |
| Jun 2024June 2024 | $3.8B | 21 | 142 | 3 |
| May 2023May 2023 | $2.86B | 14 | 82 | 2 |
| Mar 2022March 2022 | $1.82B | 9 | 55 | 2 |
| Mar 2021March 2021 | $687M | 4 | 35 | 2 |
Besides its headquarters, Middleground Management has 2 offices, with 3 listed addresses in the U.S. and abroad.
Kentucky · 1 listed address
- 1500 Aristides BLVD., LexingtonHQ
New York · 1 listed address
- 10 Crosby Street, New York
International offices
- GUSTAV MAHLERPLEIN 59, AMSTERDAM, 1082 MS, Netherlands
Other business names
Middleground Management has reported 1 other business name to the SEC.
- Middleground Capital
Contact and registration details
- Legal name
- Middleground Management, LP
- Headquarters
- 1500 Aristides BLVD., Lexington, KY 40511
- Website
- middleground.com
- Phone
- 859-721-1466
- @middlegroundcapital
- SEC file
- 801-113431
- Structure
- Delaware limited partnership
- Fiscal year end
- December
Middleground Management has custody of client assets.
How many clients does Middleground Management have?
Middleground Management has 24 clients and manages $3.89 billion for them, as of May 2026. They include 24 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 May 2026
What services does Middleground Management offer?
Middleground Management provides portfolio management for pooled vehicles.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How many financial advisors does Middleground Management have?
Middleground Management has 0 investment adviser representatives registered with state securities authorities, out of 111 employees, and 38 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
Who owns Middleground Management?
Middleground Management’s direct owners are John Stewart, Scot Duncan, Monica McClinton, Christopher Speight, Christen Paras and Justin Steil, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 21 May 2026
How does Middleground Management get paid?
Middleground Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Middleground Management?
Middleground Management’s main office is at 1500 Aristides BLVD., Lexington, KY 40511. Its phone number is 859-721-1466. Its website is middleground.com.