DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
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SEC-registered adviser
L•• L••
Latest filing May 21, 2026
First filing on the tape May 15, 2023 · 8 filings
SEC status approved since Jun 14, 2023
RAUM
$891M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
23
15 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
6
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$891M as of May 21, 2026
Mar 25, 2024$279M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of May 21, 2026
Mar 25, 20240 then
Employees (5.A)23 as of May 21, 2026
Mar 25, 202420 then
Private funds6 as of May 21, 2026
Mar 25, 20244 then
RAUM +65% over the last fiscal yearIARs 0 to 0
Practice profile
derived from the filing of May 21, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $148MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +65%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-based, otherreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes testimonials (5.L.1.c)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$891M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 6reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
4 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| L•• S•••••• O••••••••• F••• I• L• | Private Equity Fund | $109M | 62 | Mar 25, 2024 |
| L•• F••• I••• L• | Private Equity Fund | $105M | 79 | Mar 30, 2022 |
| L•• F••• I•• L• | Private Equity Fund | $51.1M | 60 | Nov 30, 2015 |
| A•• I• L••• S•• I• L•• | Private Equity Fund | $13.6M | 31 | Mar 30, 2023 |
Owners and control persons
Schedule A and B, latest filing
- B•••••••• J•••••• J•••• · Managing Membercontrolsince 11/2009 · owns 50% to 75%
- B•••••• B•••••• F•••••••• · Managing Membercontrolsince 11/2009 · owns 50% to 75%
- C••••••••• J•••• K•••••••• · Director Of Finance And Chief Compliance Officercontrolsince 01/2023 · owns less than 5%
Related persons
Schedule D 7.A
- L•• P••••••• I••• L•pooled vehicle sponsory
- L•• P•••••••• L•pooled vehicle sponsory
- L•• S•• I• G•• L•pooled vehicle sponsory
Offices
Schedule D 1.F, the 25 largest
- St. Louis, MO8 employees
- Fargo, ND5 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- RAUM up 50 %Change between filings · filing Mar 24, 2026RAUM (Item 5.F) moved from $539,456,167 to $890,782,432 (+65.0%) between the annual amendments of 2025-03-26 and 2026-03-24; the peer median change was +8.0% (673 comparable advisers, 90.0th percentile of changes)peers: asset managers, $500M to $1B (673) · 90% percentile
What changed
consecutive filings, newest first
- Accounts · 5 to 6Mar 26, 2025 to Mar 24, 2026
- Advisory employees · 20 to 15Mar 26, 2025 to Mar 24, 2026
- Pooled vehicle clients · 5 to 6Mar 26, 2025 to Mar 24, 2026
- Employees · 20 to 23Mar 26, 2025 to Mar 24, 2026
- Private funds · 5 to 6Mar 26, 2025 to Mar 24, 2026
- Discretionary RAUM · $539M to $891MMar 26, 2025 to Mar 24, 2026
- Pooled vehicle RAUM · $539M to $891MMar 26, 2025 to Mar 24, 2026
- RAUM · $539M to $891MMar 26, 2025 to Mar 24, 2026
- Accounts · 4 to 5Jun 10, 2024 to Mar 26, 2025
- Pooled vehicle clients · 4 to 5Jun 10, 2024 to Mar 26, 2025
- Financial planning clients · unset to Jun 10, 2024 to Mar 26, 2025
- Private funds · 4 to 5Jun 10, 2024 to Mar 26, 2025
- Discretionary RAUM · $279M to $539MJun 10, 2024 to Mar 26, 2025
- Pooled vehicle RAUM · $279M to $539MJun 10, 2024 to Mar 26, 2025
- RAUM · $279M to $539MJun 10, 2024 to Mar 26, 2025
- Accounts · 3 to 4May 25, 2023 to Mar 25, 2024
- Advisory employees · 10 to 20May 25, 2023 to Mar 25, 2024
- Pooled vehicle clients · 3 to 4May 25, 2023 to Mar 25, 2024
- Employees · 10 to 20May 25, 2023 to Mar 25, 2024
- Other offices · 1 to 2May 25, 2023 to Mar 25, 2024
- Private funds · 3 to 4May 25, 2023 to Mar 25, 2024
- Discretionary RAUM · $170M to $279MMay 25, 2023 to Mar 25, 2024
- Pooled vehicle RAUM · $170M to $279MMay 25, 2023 to Mar 25, 2024
- RAUM · $170M to $279MMay 25, 2023 to Mar 25, 2024
- Private funds · 6 to 3May 15, 2023 to May 25, 2023
Signals
4 dated events
- L•• L•• reported RAUM $890.8M, up 65% from $539.5M (2025-03-26 to 2026-03-24)Mar 24, 2026 · RAUM change · derived
- L•• L•• reported RAUM $539.5M, up 94% from $278.6M (2024-06-10 to 2025-03-26)Mar 26, 2025 · RAUM change · derived
- L•• L•• reported RAUM $278.6M, up 64% from $169.8M (2023-05-25 to 2024-03-25)Mar 25, 2024 · RAUM change · derived
- L•• L•• filed its initial SEC registration (Form ADV)May 15, 2023 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
How to reach
public business contact points only, each with its source
- Firm profile
- linkedin.com/company/longwater-opportunities-llcreportedpublic record, Form ADV, Sep 18, 2026
- Website
- H•••••••••reportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 605-380-5347reportedpublic record, Form ADV, May 21, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026