Capital Fund Management: Platform Profile

Overview

Capital Fund Management, commonly branded CFM, is a Paris-based global alternative asset manager founded in 1991. The firm uses quantitative and systematic methods, large data sets, scientific research, machine learning and technology across multiple alternative strategies.

May fit better for

• institutions seeking quantitative multi-strategy exposure;
• allocators interested in systematic macro and trend following;
• investors comfortable with futures, forwards, credit indices and derivatives;
• qualified investors evaluating a large global quantitative platform.

May fit less well for

• retail users seeking direct public fund signup;
• investors who want purely discretionary fundamental stock selection;
• users who assume CFM's public AUM, U.S. regulatory AUM and 13F are identical;
• investors who treat quantitative research as guaranteed alpha.

CFM is SEC registered

• Legal adviser: Capital Fund Management S.A.
• CRD: 125780
• SEC number: 801-61960
• SEC registered investment adviser: Yes

First-party AUM is $30B as of July 2026

Current first-party homepage:

• Public AUM: $30B
• Public AUM as of: 2026-07
• Established: 1991
• Stored data: 12 PB

This is CFM's current public firm-level AUM presentation.

U.S. regulatory AUM is $13.4B

Current March 26, 2026 Form-ADV-derived data:

• Regulatory AUM: $13.4B
• Regulatory AUM as of: 2026-03-26
• Client accounts: 15
• Employees: 348

The SEC filing relates to the registered adviser's regulatory reporting framework and can differ from a manager's broader public AUM definition and date.

Q2 2026 13F value is $22.702B

Current SEC filing:

• Q2 2026 13F value: $22.702B
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F entry count: 2033

The Q2 filing is a reportable-securities measure, not total CFM assets.

Current first-party strategy lineup

First-party strategy pages support:

• Stratus: Yes
• Discus: Yes
• Systematic Global Macro: Yes
• Trend Following: Yes
• Cumulus: Yes
• Quantitative: Yes
• Systematic: Yes
• Multi strategy: Yes
• Multi asset: Yes
• Futures and forwards: Yes
• Machine learning research: Yes

Discus is described as a multi-strategy, multi-asset futures program trading more than 100 markets.

Systematic Global Macro uses instruments including futures, forwards and credit indices.

Scientific methods are process, not guarantees

First-party materials describe scientific and academic methods and machine-learning techniques used to find trading signals.

Cumulus fee references are vehicle specific

A first-party article about Cumulus described:

• Cumulus management fee: 1%
• Cumulus performance fee: 15%
• Fee reference scope: Cumulus strategy / product

Stratus access status is source-dated

The same first-party 2025 Cumulus article described Stratus as closed to new investment at that time.

Assessment

CFM has three non-equivalent scale figures that must stay labeled: $30B public AUM in July, $13.4B regulatory AUM in March and $22.702B in Q2 13F securities.

None is a substitute for the others.