Duration Asset Management, LLC

Duration Asset Management provides discretionary and non-discretionary investment management focused on fixed‑income strategies to a small roster of high‑net‑worth individuals, trusts, estates, corporations and a private fund. As of December 31, 2025, the firm reported approximately $1.584 billion in discretionary assets under management across separately managed accounts and one privately offered pooled fund.

The firm primarily allocates assets to U.S. Treasury and government agency securities and seeks to capture yield‑curve disparities by employing significant leverage and margin financing, with leverage the brochure states could approach but is generally expected not to exceed 20 times net exposure. Duration’s approach can include repurchase and reverse repurchase agreements, short sales and other financing arrangements, and portfolios are monitored continuously and adjusted to clients’ stated objectives and constraints.

Compared with many team firms, Duration is affiliated with an SEC‑registered broker‑dealer (Smith Capital Markets), and certain supervised persons are registered representatives—relationships the brochure discloses can create conflicts when brokerage services are recommended. The firm also serves as adviser and sponsor to a leveraged private pooled fund offered only to accredited investors and qualified purchasers, employs performance‑based compensation in both SMAs and the fund, and manages a relatively large amount of assets per advisor for a very small client base.