9AT: UNIVERSA INVESTMENTS L.P.

other names

UNIVERSA INVESTMENTS L.P.

Adviser Profile

As of Date	03/31/2026
ADV Location	MIAMI, FL, United States
Adviser Type - Large advisory firm
Number of Employees	20 -5%
of those in investment advisory functions	5
Registration	SEC, Approved, 01/17/2008

AUM^*	21,349,131,206 24%
of that, discretionary	21,349,131,206 24%
Private Fund GAV^*	21,349,131,206 -1%
Avg Account Size	474,425,138 -3%
SMA’s	No
Private Funds	61 26
Contact Info	786 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count61	GAV$21,349,131,206

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser RAYMOND JAMES INVESTMENT MANAGEMENT	Hedge Fund362.4k	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV362.4k	AUM16.9b	#Funds5
Adviser TWENTYFOUR ASSET MANAGEMENT (US) LP	Hedge Fund47.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV47.2m	AUM23.5b	#Funds1
Adviser CENTIVA CAPITAL, LP	Hedge Fund20.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.6b	AUM20.6b	#Funds3
Adviser WOODLINE PARTNERS LP	Hedge Fund36.7b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV36.7b	AUM36.7b	#Funds6
Adviser DAVENPORT & COMPANY LLC	Hedge Fund709.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV709.9m	AUM24.7b	#Funds3
Adviser JACOBS LEVY EQUITY MANAGEMENT	Hedge Fund3.7b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.7b	AUM28.0b	#Funds4
Adviser DRA ADVISORS LLC	Hedge Fund15.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.2b	AUM14.4b	#Funds23
Adviser CBRE INVESTMENT MANAGEMENT	Hedge Fund22.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund3.0m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV22.8b	AUM22.8b	#Funds19
Adviser ADRIAN LEE & PARTNERS	Hedge Fund9.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.0m	AUM21.3b	#Funds2
Adviser UBS OCONNOR LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM13.8b	#Funds-

Brochure Summary

Overview

Universa is a Delaware limited partnership that has been in business since 2007. It serves as the investment adviser to investment limited partnerships (for which Universa affiliates serve as general partners) and other clients. Universa's President, Chief Investment Officer and principal owner is Mark W. Spitznagel. Universa's general partner is Universa LLC, a Delaware limited liability company of which Mr. Spitznagel is the sole manager and principal owner. As of December 31, 2023, Universa had total discretionary assets under management of approximately $16,160,165,483 (Protection Size). For purposes of the foregoing calculation, Universa computes its assets under management the Protection Size amount for each fund; Protection Size is the amount of equity market risk that a client seeks to protect. For the BSPP strategies (as defined in Item 8), Universa charges its management fees based on the Protection Size or Notional amounts of protection of the accounts using those strategies; for the BSPE strategy (as defined in Item 8) Universa charges its management fee based on the capital account balance. Universa only manages assets on a discretionary basis. Universa provides

investment advice and management to private investment funds and other separately-managed accounts. Items 5, 6 and 7 include information about Universa’s compensation and liquidity terms of the funds that Universa manages or intends to manage. Item 8 includes a brief summary of the investment objectives and strategies of each investment fund. The investment objectives of each strategy and other information material to an investment decision regarding each such fund is disclosed in full in each fund’s confidential offering circular or private offering memorandum, and the information contained herein is qualified by such offering materials. Universa may choose to manage additional funds or cease managing these funds or strategies in the future. The investors in the funds that Universa manages have no opportunity to select or evaluate any fund investments or strategies. Universa selects all fund investments and strategies. Universa typically does not tailor its services to the individual needs of individually managed accounts, but manages each such account according to the strategy selected by the client. Universa’s discretionary authority is limited, however, as described in Item 16.

UNIVERSA INVESTMENTS L.P.

Adviser Profile

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Brochure Summary

Overview