{"url":"https://nivawealth.com/firms/valor-management-160014","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/160014","regulatoryAum":59316626010,"crd":"160014","secFileNumber":"801-73485","legalName":"Valor Management LLC","displayName":"Valor Management","website":null,"linkedinUrl":"HTTPS://WWW.LINKEDIN.COM/COMPANY/valor-equity-partners","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"320 N Sangamon Street, Suite 1200","city":"Chicago","state":"IL","stateName":"Illinois","country":"United States","postalCode":"60607"},"tradeNames":[],"registration":{"secApproved":"29 March 2012","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":104,"advisory":68,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":56091299379,"discretionaryAccounts":56,"nonDiscretionary":3225326631,"nonDiscretionaryAccounts":1,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Pooled investment vehicles","clients":57,"regulatoryAum":59316626010}],"fees":[],"feeNotes":[],"custodians":[],"custodyNote":"Valor Management has custody of client assets.","otherCustodians":[],"leadership":[{"name":"Juan Sabater","title":"Partner, Co-President","crd":"2524955"},{"name":"Jonathan Shulkin","title":"Partner, Co-President and Treasurer","crd":"6025881"},{"name":"Anne Dean","title":"Chief Financial Officer","crd":"7817432"},{"name":"Cassie Peterson","title":"Chief Compliance Officer","crd":"2690786"},{"name":"Antonio Gracias","title":"Partner, CEO, CIO","crd":"2385716"},{"name":"Stephen Swanson","title":"Chief Legal Officer","crd":"1723258"}],"ownership":[{"label":"Valor Management L.P.","detail":"Member in the 75% or more ownership band and a control person, since December 2019."},{"label":"Antonio Gracias","detail":"Indirect owner: managing member of Valor Funds Group LLC and a control person, since June 2019. Also a sole shareholder; sole director of Valor Holdings Corp. in the 75% or more band and a control person, since December 2019.","parent":"Valor Funds Group LLC"},{"label":"Valor Funds Group LLC","detail":"Indirect owner: general partner of Valor Management L.P. and a control person, since June 2019.","parent":"Valor Management L.P."},{"label":"Valor Holdings Corp.","detail":"Indirect owner: a limited partner of Valor Management L.P. in the 75% or more band and a control person, since December 2019. Also a member of Valor Funds Group LLC in the 75% or more band and a control person, since December 2019.","parent":"Valor Management L.P."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":5,"privateResidences":0},"listedOfficeAddresses":6,"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"260 Homer Ave","city":"Palo Alto"}]},{"state":"Florida","offices":1,"addresses":[{"street":"174 Ne 24th Street","city":"Miami"}]},{"state":"Illinois","offices":1,"addresses":[{"street":"320 N Sangamon Street, Suite 1200","city":"Chicago","headquarters":true}]},{"state":"New York","offices":1,"addresses":[{"street":"575 Broadway","city":"New York"}]},{"state":"Texas","offices":1,"addresses":[{"street":"1007 South Congress Avenue","city":"Austin"}]},{"state":"Washington","offices":1,"addresses":[{"street":"701 5th Ave.","city":"Seattle"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"312-683-1900","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees","Other"],"activities":["Portfolio management for pooled investment vehicles (other than investment companies)","Other"],"financialPlanningClients":null,"assetMix":[],"privateFunds":54},"sources":{"adv1FilingDate":"29 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/160014/PDF/160014.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Valor Management have?","answer":"Valor Management has 57 clients and manages $59.3 billion for them, as of April 2026.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 29 April 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Valor Management offer?","answer":"Valor Management provides portfolio management for pooled vehicles and other activities.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does Valor Management have?","answer":"Valor Management has 0 investment adviser representatives registered with state securities authorities, out of 104 employees, and 68 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Valor Management?","answer":"Valor Management is owned through a chain of holding companies by Antonio Gracias and Valor Holdings Corp. Its direct owner is Valor Management L.P. (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 29 April 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Valor Management get paid?","answer":"Valor Management is paid through a percentage of assets under management, performance-based fees and other arrangements. 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","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/valor-management-160014/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1846237/000121390026089714/0001213900-26-089714-index.html","totalValue":86190896517,"positionCount":5,"top10Share":1,"top10":[{"issuer":"SPACE EXPLORATION TECHN CORP","titleOfClass":"CLASS A COM STK","cusip":"84615Q103","value":86013406596,"shares":503414530,"shareType":"SH"},{"issuer":"BRAINSWAY LTD","titleOfClass":"SPONSORED ADS","cusip":"10501L106","value":82434875,"shares":5314950,"shareType":"SH","priorValue":70635686,"priorShares":5314950},{"issuer":"BITGO HOLDINGS INC","titleOfClass":"COM SHS CL A","cusip":"091947101","value":64949989,"shares":12538608,"shareType":"SH","priorValue":103192744,"priorShares":12538608},{"issuer":"HARMONY  BIOSCIENCES HLDGS  IN","titleOfClass":"COM","cusip":"413197104","value":29783853,"shares":818013,"shareType":"SH","priorValue":3280811,"priorShares":117130},{"issuer":"BIOAGE LABS INC","titleOfClass":"COM","cusip":"09077V100","value":321204,"shares":13105,"shareType":"SH","priorValue":229206,"priorShares":13105}],"positionsListed":5,"positions":[{"issuer":"SPACE EXPLORATION TECHN CORP","titleOfClass":"CLASS A COM STK","cusip":"84615Q103","value":86013406596,"shares":503414530,"shareType":"SH"},{"issuer":"BRAINSWAY LTD","titleOfClass":"SPONSORED ADS","cusip":"10501L106","value":82434875,"shares":5314950,"shareType":"SH","priorValue":70635686,"priorShares":5314950},{"issuer":"BITGO HOLDINGS INC","titleOfClass":"COM SHS CL A","cusip":"091947101","value":64949989,"shares":12538608,"shareType":"SH","priorValue":103192744,"priorShares":12538608},{"issuer":"HARMONY  BIOSCIENCES HLDGS  IN","titleOfClass":"COM","cusip":"413197104","value":29783853,"shares":818013,"shareType":"SH","priorValue":3280811,"priorShares":117130},{"issuer":"BIOAGE LABS INC","titleOfClass":"COM","cusip":"09077V100","value":321204,"shares":13105,"shareType":"SH","priorValue":229206,"priorShares":13105}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}