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

E•• I••••••••• A••••••• L••

Asset manager (funds and pooled vehicles)Dallas, TexasCRD 298553SEC 801-117556websiteIAPD
Latest filing Mar 26, 2026
First filing on the tape Sep 27, 2019 · 13 filings
SEC status approved since Oct 31, 2019
RAUM
$1.0B
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
16
9 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
3
reported on Schedule D
History
13 filings and snapshots on the tape
RAUM$1.0B as of Mar 26, 2026
Mar 25, 2020$2.2B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 26, 2026
Mar 25, 20200 then
Employees (5.A)16 as of Mar 26, 2026
Mar 25, 202014 then
Private funds3 as of Mar 26, 2026
Mar 25, 20203 then
RAUM -35% over the last fiscal year-18% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 26, 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
$347MderivedRAUM 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
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
-35%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-basedreportedItem 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$1.0B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
3reported
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
      3 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      E••••• S••••••• P••••••• V••• L•Venture Capital Fund$1.2B81Dec 27, 2018
      E••••• S••••••• P••••••• V•• L•Venture Capital Fund$698M94Mar 27, 2015
      E••••• S••••••• P••••••• V• L•Venture Capital Fund$34.5M58Mar 27, 2012
      Owners and control persons
      Schedule A and B, latest filing
      • A••••••••• P••••• W• · Senior Vice Presidentcontrol
        since 07/2018 · owns less than 5%
      • B•••••• J••••• P•••••• · Managing Directorcontrol
        since 07/2018 · owns less than 5%
      • D••••• B•••••••• H•••• · Senior Vice Presidentcontrol
        since 07/2018 · owns less than 5%
      • D•••••• E••••••••• A••••• · Chief Compliance Officercontrol
        since 01/2023 · owns less than 5%
      • F••••••• A•••••• K••• · Chief Financial Officercontrol
        since 07/2018 · owns less than 5%
      • H••••••••• M•••• S• · Senior Vice Presidentcontrol
        since 07/2018 · owns less than 5%
      • M••••• M••••••• C•••••• · Vice Presidentcontrol
        since 07/2018 · owns less than 5%
      • M•••••••• M••••••• P•••••• · Vice Presidentcontrol
        since 01/2019 · owns less than 5%
      • P•••••••• C•••••••• A••••• · Vice Presidentcontrol
        since 07/2018 · owns less than 5%
      • S••••• J••••• W•••••• · Managing Director And Deputy Compliance Officercontrol
        since 01/2023 · owns less than 5%
      • W•••••••• T•••••• O••••• · Presidentcontrol
        since 07/2018 · owns less than 5%
      • B•••••• J••••• P•••••• · Shareholdercontrol
        since 10/1997 · owns 25% to 50% of E••••• S••••••• S••••••••• C•••••••••
      • S••••• J••••• W•••••• · Shareholdercontrol
        since 10/1997 · owns 25% to 50% of E••••• S••••••• S••••••••• C•••••••••
      • W•••••••• T•••••• O••••• · Shareholdercontrol
        since 10/1997 · owns 25% to 50% of E••••• S••••••• S••••••••• C•••••••••
      Entity owners
      • E••••• S••••••• C•••••• V••• L• · Member
        direct · owns 75% or more
      • E••••• S••••••• S••••••••• C••••••••• · Member
        direct · owns 75% or more
      • E••••• S••••••• S••••••••• C••••••••• · Member
        indirect · owns 75% or more of E••••• S••••••• V••• L••
      • E••••• S••••••• V••• L•• · General Partner
        indirect · owns F of E••••• S••••••• C•••••• V••• L•
      Related persons
      Schedule D 7.A
      • E••••• S••••••• C•••••• V• L•
        pooled vehicle sponsory
      • E••••• S••••••• C•••••• V•• L•
        pooled vehicle sponsory
      • E••••• S••••••• C•••••• V••• L•
        pooled vehicle sponsory
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • RAUM down 25 %Change between filings · filing Mar 26, 2026
        RAUM (Item 5.F) moved from $1,607,019,160 to $1,040,678,006 (-35.0%) between the annual amendments of 2025-03-28 and 2026-03-26; the peer median change was +11.0% (1368 comparable advisers, 2.0th percentile of changes)
        peers: asset managers, $1B to $5B (1,368) · 2.1% percentile
      What changed
      consecutive filings, newest first
      • Advisory employees · 11 to 9
        Nov 11, 2025 to Mar 26, 2026
      • Employees · 18 to 16
        Nov 11, 2025 to Mar 26, 2026
      • Discretionary RAUM · $1.6B to $1.0B
        Nov 11, 2025 to Mar 26, 2026
      • Pooled vehicle RAUM · $1.6B to $1.0B
        Nov 11, 2025 to Mar 26, 2026
      • RAUM · $1.6B to $1.0B
        Nov 11, 2025 to Mar 26, 2026
      • Advisory employees · 12 to 11
        Mar 27, 2024 to Mar 28, 2025
      • Employees · 19 to 18
        Mar 27, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Mar 27, 2024 to Mar 28, 2025
      • Discretionary RAUM · $1.9B to $1.6B
        Mar 27, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · $1.9B to $1.6B
        Mar 27, 2024 to Mar 28, 2025
      • RAUM · $1.9B to $1.6B
        Mar 27, 2024 to Mar 28, 2025
      • Advisory employees · 11 to 12
        Nov 2, 2023 to Mar 27, 2024
      • Discretionary RAUM · $1.9B to $1.9B
        Nov 2, 2023 to Mar 27, 2024
      • Pooled vehicle RAUM · $1.9B to $1.9B
        Nov 2, 2023 to Mar 27, 2024
      • RAUM · $1.9B to $1.9B
        Nov 2, 2023 to Mar 27, 2024
      • Discretionary RAUM · $2.2B to $1.9B
        Jan 9, 2023 to Mar 29, 2023
      • Pooled vehicle RAUM · $2.2B to $1.9B
        Jan 9, 2023 to Mar 29, 2023
      • RAUM · $2.2B to $1.9B
        Jan 9, 2023 to Mar 29, 2023
      • Advisory employees · 10 to 11
        Mar 26, 2021 to Mar 30, 2022
      • Assets in custody · 0.0 to unset
        Mar 26, 2021 to Mar 30, 2022
      • Custody of client assets · true to false
        Mar 26, 2021 to Mar 30, 2022
      • Employees · 18 to 19
        Mar 26, 2021 to Mar 30, 2022
      • Discretionary RAUM · $1.9B to $2.2B
        Mar 26, 2021 to Mar 30, 2022
      • Pooled vehicle RAUM · $1.9B to $2.2B
        Mar 26, 2021 to Mar 30, 2022
      • RAUM · $1.9B to $2.2B
        Mar 26, 2021 to Mar 30, 2022
      • Employees · 14 to 18
        Jan 5, 2021 to Mar 26, 2021
      • Discretionary RAUM · $2.2B to $1.9B
        Jan 5, 2021 to Mar 26, 2021
      • Pooled vehicle RAUM · $2.2B to $1.9B
        Jan 5, 2021 to Mar 26, 2021
      • RAUM · $2.2B to $1.9B
        Jan 5, 2021 to Mar 26, 2021
      • Accounts · 4 to 3
        Sep 27, 2019 to Mar 25, 2020
      • Pooled vehicle clients · 4 to 3
        Sep 27, 2019 to Mar 25, 2020
      • Assets in custody · unset to 0.0
        Sep 27, 2019 to Mar 25, 2020
      • Custody of client assets · false to true
        Sep 27, 2019 to Mar 25, 2020
      • Private funds · 8 to 3
        Sep 27, 2019 to Mar 25, 2020
      • Discretionary RAUM · $2.2B to $2.2B
        Sep 27, 2019 to Mar 25, 2020
      • Pooled vehicle RAUM · $2.2B to $2.2B
        Sep 27, 2019 to Mar 25, 2020
      • RAUM · $2.2B to $2.2B
        Sep 27, 2019 to Mar 25, 2020
      Signals
      4 dated events
      • E•• I••••••••• A••••••• L•• reported RAUM $1.0B, down 35% from $1.6B (2025-11-11 to 2026-03-26)
        Mar 26, 2026 · RAUM change · derived
      • Ashley Elizabeth Deluca (Compliance Officer) appeared on Schedule A of E•• I••••••••• A••••••• L••
        Mar 30, 2022 · Control person joined · fact
      • Patrick Michael Mitchell (Vice President) appeared on Schedule A of E•• I••••••••• A••••••• L••
        Mar 25, 2020 · Control person joined · fact
      • E•• I••••••••• A••••••• L•• filed its initial SEC registration (Form ADV)
        Sep 27, 2019 · 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/energy-spectrum-capitalreportedpublic record, Form ADV, Sep 18, 2026
      Website
      energyspectrum.comreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      214-987-6100reportedpublic record, Form ADV, Mar 26, 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