Topwater Partners LLC
Topwater Partners LLC is a hedge fund based in New York, New York. According to its most recent Form D, filed Aug 24, 2026, the fund has sold $1,231,958,953 of interests to 149 investors since its first sale in Aug 2013. The minimum investment it accepts from an outside investor is $250,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Leucadia Asset Management LLC.
Performance
No returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to AltMountain directly.
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- Total raised
- $1,231,958,953Cumulative sales reported on Form D
- Investors
- 149
- First sale
- Aug 1, 2013
- Minimum investment
- $250,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Leucadia Asset Management LLC
- Latest Form D
- Aug 24, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Raise history
| Filed | Filing | Total raised | Investors | Source |
|---|---|---|---|---|
| Aug 24, 2026 | Form D/A (amendment) | $1,231,958,953 | 149 | SEC.gov ↗ |
| Aug 22, 2025 | Form D/A (amendment) | $1,214,628,612 | 143 | SEC.gov ↗ |
| Aug 22, 2024 | Form D/A (amendment) | $1,162,888,276 | 135 | SEC.gov ↗ |
| Aug 22, 2023 | Form D/A (amendment) | $1,093,195,598 | 120 | SEC.gov ↗ |
| Aug 22, 2022 | Form D/A (amendment) | $1,056,296,342 | 109 | SEC.gov ↗ |
| Aug 20, 2021 | Form D/A (amendment) | $1,038,649,106 | 99 | SEC.gov ↗ |
| Aug 21, 2020 | Form D/A (amendment) | $1,021,454,720 | 94 | SEC.gov ↗ |
| Aug 21, 2019 | Form D/A (amendment) | $920,878,802 | 89 | SEC.gov ↗ |
| Aug 21, 2018 | Form D/A (amendment) | $673,786,650 | 84 | SEC.gov ↗ |
| Aug 21, 2017 | Form D/A (amendment) | $508,527,049 | 77 | SEC.gov ↗ |
| Aug 26, 2016 | Form D/A (amendment) | $427,378,633 | 60 | SEC.gov ↗ |
| Jul 30, 2015 | Form D/A (amendment) | $259,739,005 | 44 | SEC.gov ↗ |
13 Form D filings in the SEC's electronic records (2008 onward), the earliest on Aug 13, 2014. Each filing reports the cumulative amount sold and the number of investors to that date, as the fund filed it. Not verified, and not the fund's current assets. Showing the latest 12 of 13 filings; the rest are on SEC.gov. Source: U.S. Securities and Exchange Commission, Form D data sets.
Related vehicles with the same name (2)
| Vehicle | Total raised | Investors | Latest Form D |
|---|---|---|---|
| Topwater Partners LLC (this page) | $1,231,958,953 | 149 | Aug 24, 2026 |
| Topwater Partners Offshore Ltd. | $931,738,890 | 109 | May 18, 2026 |
Funds are often offered through several legal vehicles, such as onshore, offshore, feeder, parallel or tax-exempt versions, and each one files its own Form D. These 2 filings share this fund's name apart from such vehicle words or a series letter, which usually means they are versions of one fund. Grouped by AltMountain from the names on the filings alone, so the list may be incomplete or include a separate fund with a near-identical name; amounts are each vehicle's own filing and should not be added together, because a feeder's money can also be counted in its master fund. Source: SEC Form D filings.
Questions about Topwater Partners LLC
What is the minimum investment for Topwater Partners LLC?
According to its latest Form D, filed Aug 24, 2026, the minimum investment Topwater Partners LLC accepts from an outside investor is $250,000.
Who can invest in Topwater Partners LLC?
Topwater Partners LLC is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.
How much has Topwater Partners LLC raised?
Topwater Partners LLC reports $1,231,958,953 sold from 149 investors on its Form D filed Aug 24, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Topwater Partners LLC based?
Topwater Partners LLC is based in New York, New York and is managed by Leucadia Asset Management LLC.
When did Topwater Partners LLC launch?
Topwater Partners LLC reports its first sale in Aug 2013.
Size compared with every hedge fund
Raised more than 90% of the 2,528 hedge funds based in New York, and more than 91% of all 10,140 that report sales.
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