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

A•••••• P••••••• M••••••••• L•

Asset manager (funds and pooled vehicles)Dallas, TexasCRD 304628SEC 801-118809websiteIAPD
Latest filing Mar 31, 2026
First filing on the tape Apr 27, 2020 · 10 filings
SEC status approved since May 27, 2020
RAUM
$1.1B
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
9
7 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
3
reported on Schedule D
History
10 filings and snapshots on the tape
RAUM$1.1B as of Mar 31, 2026
Mar 31, 2021$6.2B then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 31, 20210 then
Employees (5.A)9 as of Mar 31, 2026
Mar 31, 202116 then
Private funds3 as of Mar 31, 2026
Mar 31, 20213 then
RAUM -65% over the last fiscal year-51% a year over threeIARs 0 to 0offices 2 to 1
Practice profile
derived from the filing of Mar 31, 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
$151MderivedRAUM 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
unknownderived2 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-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)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
  • 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$1.1B100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
7reported
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=true 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)
      Owners and control persons
      Schedule A and B, latest filing
      • G••••• J••••• A•••• · Chief Financial Officercontrol
        since 04/2019 · owns less than 5%
      • G••••••• M••••••• D•••• · Co-Managing Partner, Director Of Research, President Of Business Operationscontrol
        since 04/2019 · owns 25% to 50%
      • R•••••••• D•••••• D•• · Chief Compliance Officercontrol
        since 07/2022 · owns less than 5%
      • S•• A•••••• C••• W•• · General Counselcontrol
        since 05/2021 · owns less than 5%
      • W•••••• D••••• R•• · Co-Managing Partner, Portfolio Manager, Chief Investment Officercontrol
        since 04/2019 · owns 25% to 50%
      • G••••••• M••••••• D•••• · Managing Membercontrol
        since 04/2019 · owns 25% to 50% of A•••••• P••••••• M••••••••• ••• L••
      • G••••••• M••••••• D•••• · Trusteecontrol
        since 10/2019 · owns F of G•••••• A•••••• T••••
      • W•••••• D••••• R•• · Trusteecontrol
        since 10/2019 · owns F of W••••• A•••••• T••••
      • W•••••• D••••• R•• · Managing Membercontrol
        since 04/2019 · owns 25% to 50% of A•••••• P••••••• M••••••••• ••• L••
      Entity owners
      • A•••••• P••••••• M••••••••• ••• L•• · General Partner
        direct · owns less than 5%
      • G•••••• A•••••• T•••• · Limited Partner
        direct · owns 10% to 25%
      • W••••• A•••••• T•••• · Limited Partner
        direct · owns 10% to 25%
      Related persons
      Schedule D 7.A
      • A•••••• C•••••• P••••••• F••• ••• L•
        bankpooled vehicle sponsorn
      Offices
      Schedule D 1.F, the 25 largest
      • Greenwich, CT8 employees
      • West Palm Beach, FL1 employees
      ADV anomalies
      3 against comparable advisers; where to look, not conclusions
      • custody status changedChange between filings · filing Mar 31, 2026
        custody of client assets (Item 9.A): yes on the filing of 2025-11-26, no on the filing of 2026-03-31
        peers: asset managers, $1B to $5B (1,506)
      • employee count dropChange between filings · filing Mar 31, 2026
        employees (Item 5.A) moved from 18.0 to 9.0 (-50.0%) between the annual amendments of 2025-04-30 and 2026-03-31; the peer median change was 0.0% (1109 comparable advisers, 1.0th percentile of changes)
        peers: asset managers, $1B to $5B (1,109) · 0.8% percentile
      • RAUM down 50 %Change between filings · filing Mar 31, 2026
        RAUM (Item 5.F) moved from $3,052,882,622 to $1,059,191,006 (-65.0%) between the annual amendments of 2025-04-30 and 2026-03-31; the peer median change was +11.0% (1368 comparable advisers, 1.0th percentile of changes)
        peers: asset managers, $1B to $5B (1,368) · 0.5% percentile
      What changed
      consecutive filings, newest first
      • Advisory employees · 8 to 7
        Nov 26, 2025 to Mar 31, 2026
      • Assets in custody · 1214755911.0 to unset
        Nov 26, 2025 to Mar 31, 2026
      • Custody of client assets · true to false
        Nov 26, 2025 to Mar 31, 2026
      • Employees · 10 to 9
        Nov 26, 2025 to Mar 31, 2026
      • Discretionary RAUM · $1.3B to $1.1B
        Nov 26, 2025 to Mar 31, 2026
      • Pooled vehicle RAUM · $1.3B to $1.1B
        Nov 26, 2025 to Mar 31, 2026
      • RAUM · $1.3B to $1.1B
        Nov 26, 2025 to Mar 31, 2026
      • Assets in custody · $3.0B to $1.2B
        Aug 29, 2025 to Nov 26, 2025
      • Discretionary RAUM · $3.1B to $1.3B
        Aug 29, 2025 to Nov 26, 2025
      • Pooled vehicle RAUM · $3.1B to $1.3B
        Aug 29, 2025 to Nov 26, 2025
      • RAUM · $3.1B to $1.3B
        Aug 29, 2025 to Nov 26, 2025
      • Advisory employees · 13 to 8
        Apr 30, 2025 to Aug 29, 2025
      • Employees · 18 to 10
        Apr 30, 2025 to Aug 29, 2025
      • Other offices · 2 to 1
        Apr 30, 2025 to Aug 29, 2025
      • Accounts · 10 to 7
        Mar 28, 2024 to Apr 30, 2025
      • Advisory employees · 16 to 13
        Mar 28, 2024 to Apr 30, 2025
      • Pooled vehicle clients · 10 to 7
        Mar 28, 2024 to Apr 30, 2025
      • Assets in custody · $5.1B to $3.0B
        Mar 28, 2024 to Apr 30, 2025
      • Employees · 23 to 18
        Mar 28, 2024 to Apr 30, 2025
      • Financial planning clients · unset to
        Mar 28, 2024 to Apr 30, 2025
      • Private funds · 4 to 3
        Mar 28, 2024 to Apr 30, 2025
      • Discretionary RAUM · $5.3B to $3.1B
        Mar 28, 2024 to Apr 30, 2025
      • Pooled vehicle RAUM · $5.3B to $3.1B
        Mar 28, 2024 to Apr 30, 2025
      • RAUM · $5.3B to $3.1B
        Mar 28, 2024 to Apr 30, 2025
      • Advisory employees · 15 to 16
        Mar 31, 2023 to Mar 28, 2024
      • Assets in custody · $9.0B to $5.1B
        Mar 31, 2023 to Mar 28, 2024
      • Employees · 22 to 23
        Mar 31, 2023 to Mar 28, 2024
      • Other offices · 1 to 2
        Mar 31, 2023 to Mar 28, 2024
      • Discretionary RAUM · $9.2B to $5.3B
        Mar 31, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $9.2B to $5.3B
        Mar 31, 2023 to Mar 28, 2024
      • RAUM · $9.2B to $5.3B
        Mar 31, 2023 to Mar 28, 2024
      • Advisory employees · 14 to 15
        Aug 16, 2022 to Mar 31, 2023
      • Assets in custody · $9.2B to $9.0B
        Aug 16, 2022 to Mar 31, 2023
      • Employees · 19 to 22
        Aug 16, 2022 to Mar 31, 2023
      • Discretionary RAUM · $9.5B to $9.2B
        Aug 16, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $9.5B to $9.2B
        Aug 16, 2022 to Mar 31, 2023
      • RAUM · $9.5B to $9.2B
        Aug 16, 2022 to Mar 31, 2023
      • Accounts · 7 to 10
        Mar 31, 2021 to Mar 14, 2022
      • Advisory employees · 12 to 14
        Mar 31, 2021 to Mar 14, 2022
      • Pooled vehicle clients · 7 to 10
        Mar 31, 2021 to Mar 14, 2022
      Signals
      8 dated events
      • A•••••• P••••••• M••••••••• L• reported RAUM $1.3B, down 57% from $3.1B (2025-08-29 to 2025-11-26)
        Nov 26, 2025 · RAUM change · derived
      • A•••••• P••••••• M••••••••• L• reported RAUM $3.1B, down 42% from $5.3B (2024-03-28 to 2025-04-30)
        Apr 30, 2025 · RAUM change · derived
      • A•••••• P••••••• M••••••••• L• reported RAUM $5.3B, down 43% from $9.2B (2023-03-31 to 2024-03-28)
        Mar 28, 2024 · RAUM change · derived
      • C••• Wai A••••• So (General Counsel) appeared on Schedule A of A•••••• P••••••• M••••••••• L•
        Mar 28, 2024 · Control person joined · fact
      • Dee Delmer Raibourn (Chief Compliance Officer) appeared on Schedule A of A•••••• P••••••• M••••••••• L•
        Aug 16, 2022 · Control person joined · fact
      • A•••••• P••••••• M••••••••• L• reported RAUM $9.5B, up 54% from $6.2B (2021-03-31 to 2022-03-14)
        Mar 14, 2022 · RAUM change · derived
      • A•••••• P••••••• M••••••••• L• reported RAUM $6.2B, up 431% from $1.2B (2020-04-27 to 2021-03-31)
        Mar 31, 2021 · RAUM change · derived
      • A•••••• P••••••• M••••••••• L• filed its initial SEC registration (Form ADV)
        Apr 27, 2020 · 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
      Principal office phone
      214-550-1696reportedpublic record, Form ADV, Mar 31, 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