# Blackgold Capital Management LP

> Blackgold Capital Management LP is an SEC-registered investment advisory firm in Houston, TX, registered since 2006, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 10, 2026.

- CRD: 139804
- Filed as: BLACKGOLD CAPITAL MANAGEMENT LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: April 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/139804
- AdvisorCensus page: https://advisorcensus.com/firm/blackgold-capital-management-lp-houston-tx-139804

## Quick answers

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

**What does Blackgold Capital Management LP's brochure say about its fees?**
Its Form ADV Part 2A brochure dated April 10, 2026 states: Asset-based fee: 1.5% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Blackgold Capital Management LP located?**
Blackgold Capital Management LP's principal office is in Houston, TX, according to its Form ADV.

**Is Blackgold Capital Management LP registered with the SEC or a state?**
Blackgold Capital Management LP is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 139804.

**How much does Blackgold Capital Management LP manage?**
Blackgold Capital Management LP reports $133,013,314 in regulatory assets under management in its Form ADV filing dated April 10, 2026 (100% discretionary).

**How have Blackgold Capital Management LP's assets and staff changed since 2021?**
In the Form ADV data for Blackgold Capital Management LP: Regulatory assets under management: $747,540,207 in the October 2021 data and $133,013,314 in the October 2026 data, down 82%. Total employees: 5 in October 2021 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Blackgold Capital Management LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7).

**Which custodians does Blackgold Capital Management LP use?**
Blackgold Capital Management LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon as a custodian holding 10% or more of its separately managed account assets.

**Does Blackgold Capital Management LP 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/139804

**What changed in Blackgold Capital Management LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 3 to 4. Regulatory assets under management went from $178,019,742 to $133,013,314 (-25%). 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 April 10, 2026)

- Asset-based fee: 1.5% of assets a year

> For its services, the Adviser is generally entitled to receive a management fee (the “Management Fee”) at an annual rate of one and a half percent (1.5%) of the capital account balance of each Client account.

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

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $133,013,314
- Discretionary: $133,013,314
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | $1,340,940 |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $131,672,374 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2006 (20 years)
- Employees: 4 total, 4 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)
- blackgoldcap.com
- LinkedIn @blackgold-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $747,540,207 | 5 | March 24, 2021 |
| October 2022 | $507,709,682 | 4 | May 5, 2022 |
| October 2023 | $587,197,733 | 4 | May 23, 2023 |
| October 2024 | $594,597,705 | 4 | March 28, 2024 |
| October 2025 | $178,019,742 | 4 | March 31, 2025 |
| October 2026 | $133,013,314 | 4 | April 10, 2026 |

Regulatory assets under management: $747,540,207 in the October 2021 data and $133,013,314 in the October 2026 data, down 82%.
Total employees: 5 in October 2021 and 4 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 3 to 4.
- Regulatory assets under management went from $178,019,742 to $133,013,314 (-25%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Blackgold Capital Management LP (CRD 139804): Form ADV filing data as of October 2026.