Investment adviser · CRD 105253

WASHINGTON CAPITAL MANAGEMENT INC

Investment adviser filing (IA)

SEATTLE, WA, United States · Form ADV filed Sep 24, 2026

Regulatory AUM: $7.4B
Client accounts: 251
Employees: 79
Advisory professionals: 46

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	10	$6,436,390,526	87.0%
Retirement plans	33	$710,413,355	9.6%
Corporations & businesses	8	$195,204,972	2.6%
High-net-worth individuals	16	$50,166,700	0.7%
Individuals	8	$4,398,019	0.1%
Charities	Fewer than 5	$322,843	0.0%

Filing source

Form ADV 2134709 · Sep 24, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

15 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

WASHINGTON CAPITAL JOINT MASTER TRUST REAL ESTATE EQUITY FUNDOther Private Fund · Last reported Sep 24, 2026$3.47BGross asset value

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian THE BANK OF NEW YORK MELLON TRUST COMPANY N.A. EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

THE BANK OF NEW YORK MELLON TRUST COMPANY N.A.
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-5078971895
Reported beneficial owners: 59
Minimum commitment: $1M

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WASHINGTON CAPITAL JOINT MASTER TRUST MORTGAGE INCOME FUNDOther Private Fund · Last reported Sep 24, 2026$1.59BGross asset value

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian THE BANK OF NEW YORK MELLON TRUST COMPANY N.A. EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

THE BANK OF NEW YORK MELLON TRUST COMPANY N.A.
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-7769805771
Reported beneficial owners: 80
Minimum commitment: $1M

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WACAP-SP INFRASTRUCTURE FUND IV FEEDER LLCPrivate Equity Fund · Last reported Sep 24, 2026$336MGross asset value

Form D fundraising filings

WaCap - SP Infrastructure Fund IV Feeder LLC

Fund administrator U.S. BANKCORP FUND SERVICES, LLC MILWAUKEE, Wisconsin, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian U.S. BANK, N.A. MILWAUKEE, Wisconsin, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

U.S. BANK, N.A.
LEI 6BYL5QZYBDK8S7L73M02

Fund details & source

Fund ID: 805-5831957516
Reported beneficial owners: 17
Minimum commitment: $1M
Form D file number: 021-392842

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WASHINGTON CAPITAL JOINT MASTER TRUST FIXED INCOME FUNDOther Private Fund · Last reported Sep 24, 2026$311MGross asset value

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian THE BANK OF NEW YORK MELLON TRUST COMPANY N.A. EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

THE BANK OF NEW YORK MELLON TRUST COMPANY N.A.
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-6713633901
Reported beneficial owners: 5
Minimum commitment: $1M

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WACAP-O DIRECT LENDING FUND UNLEVERED FEEDER LLCPrivate Equity Fund · Last reported Sep 24, 2026$192MGross asset value

Form D fundraising filings

WaCap - O Direct Lending Fund Unlevered Feeder LLC

Fund administrator U.S. BANKCORP FUND SERVICES, LLC MILWAUKEE, Wisconsin, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian U.S. BANK, N.A. MILWAUKEE, Wisconsin, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

U.S. BANK, N.A.
LEI 6BYL5QZYBDK8S7L73M02

Fund details & source

Fund ID: 805-8942657851
Reported beneficial owners: 8
Minimum commitment: $1M
Form D file number: 021-453391

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

WASHINGTON CAPITAL JOINT MASTER TRUST TRANSPORTATION INFRASTRUCTURE FUNDPrivate Equity Fund · Last reported Sep 24, 2026$150MGross asset value

Form D fundraising filings

Transportation Infrastructure Fund, an Investment Fund Held in Trust by the Washington Capital Joint Master Trust

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian THE BANK OF NEW YORK MELLON TRUST COMPANY N.A. EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

THE BANK OF NEW YORK MELLON TRUST COMPANY N.A.
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-7639913041
Reported beneficial owners: 10
Minimum commitment: $1M
Form D file number: 021-344886

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

REAL ASSET INCOME FUND LLCReal Estate Fund · Last reported Sep 24, 2026$148MGross asset value

Form D fundraising filings

Real Asset Income Fund LLC

Fund administrator THE BANK OF NEW YORK MELLON TRUST COMPANY EVERETT, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BAKER TILLY US, LLP SEATTLE, Washington, United States

Custodian THE BANK OF NEW YORK MELLON TRUST COMPANY EVERETT, Massachusetts, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

BAKER TILLY US, LLP
PCAOB 23

THE BANK OF NEW YORK MELLON TRUST COMPANY
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-5640184930
Reported beneficial owners: 14
Minimum commitment: $1M
Form D file number: 021-391015

Form ADV 2134709 · Sep 24, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Sep 24, 2026. View historical filings

Reported services

Individual portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Hourly · Fixed · Performance-based

Principal office

1200 6TH AVE, SUITE 700
SEATTLE, WA, 98101-3123, United States

CRD 105253

Filing source

Form ADV 2134709 · Sep 24, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.