# Aethon Energy Management

> Aethon Energy Management is an SEC-registered investment advisory firm in Dallas, TX, registered since 2014, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 14, 2026.

- CRD: 173136
- Filed as: AETHON ENERGY MANAGEMENT
- Legal name: Aethon Energy Management LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: August 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/173136
- AdvisorCensus page: https://advisorcensus.com/firm/aethon-energy-management-dallas-tx-173136

## Quick answers

**How is Aethon Energy Management compensated?**
On its Form ADV (Item 5.E, October 2026), Aethon Energy Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**What does Aethon Energy Management's brochure say about its fees?**
Its Form ADV Part 2A brochure dated August 14, 2026 states: Asset-based fee: 1.5% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Aethon Energy Management located?**
Aethon Energy Management's principal office is in Dallas, TX, according to its Form ADV.

**Is Aethon Energy Management registered with the SEC or a state?**
Aethon Energy Management is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 173136.

**How much does Aethon Energy Management manage?**
Aethon Energy Management reports $700,131,864 in regulatory assets under management in its Form ADV filing dated August 14, 2026 (100% discretionary).

**How have Aethon Energy Management's assets and staff changed since 2021?**
In the Form ADV data for Aethon Energy Management: Regulatory assets under management: $694,119,465 in the October 2021 data and $700,131,864 in the October 2026 data, up 1%. Total employees: 11 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Aethon Energy Management serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5).

**Does Aethon Energy Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/173136

**What changed in Aethon Energy Management's recent Form ADV filings?**
In the September 2026 filing data: Employees performing advisory functions went from 14 to 7. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated August 14, 2026)

- Asset-based fee: 1.5% to 2% a year (a range, as the brochure states it)

> Aethon II-A is subject to a “Management Fee,” as defined in the Fund’s Governing Documents, which is initially charged as a percentage of a limited partner’s capital commitments, generally ranging from 1.5% to 2.0% depending on the size of the commitment.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $700,131,864
- Discretionary: $700,131,864
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $700,131,864 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2014 (11 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- aethonenergy.com
- LinkedIn @AETHON-ENERGY
- X @aethonenergy

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $694,119,465 | 11 | March 31, 2021 |
| October 2022 | $907,029,096 | 15 | July 7, 2022 |
| October 2023 | $579,276,403 | 12 | March 31, 2023 |
| October 2024 | $790,474,843 | 189 | March 30, 2024 |
| October 2025 | $610,938,465 | 184 | May 29, 2025 |
| October 2026 | $700,131,864 | 7 | August 14, 2026 |

Regulatory assets under management: $694,119,465 in the October 2021 data and $700,131,864 in the October 2026 data, up 1%.
Total employees: 11 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Employees performing advisory functions went from 14 to 7.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 12 to 14.
- Regulatory assets under management went from $610,938,465 to $700,131,864 (+15%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Aethon Energy Management (CRD 173136): Form ADV filing data as of October 2026.