# HEP Partners LLC

> HEP Partners LLC is an SEC-registered investment advisory firm in Dallas, TX, registered since 2012, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 161386
- Filed as: HEP PARTNERS LLC
- Also doing business as: HICKS EQUITY PARTNERS LLC, HICKS TRANS AMERICAN PARTNERS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/161386
- AdvisorCensus page: https://advisorcensus.com/firm/hep-partners-llc-dallas-tx-161386

## Quick answers

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

**Where is HEP Partners LLC located?**
HEP Partners LLC's principal office is in Dallas, TX, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is HEP Partners LLC registered with the SEC or a state?**
HEP Partners LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161386.

**How much does HEP Partners LLC manage?**
HEP Partners LLC reports $257,907,470 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have HEP Partners LLC's assets and staff changed since 2021?**
In the Form ADV data for HEP Partners LLC: Regulatory assets under management: $153,176,447 in the October 2021 data and $257,907,470 in the October 2026 data, up 68%. Total employees: 20 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does HEP Partners LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (10).

**Does HEP Partners LLC 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/161386

**What changed in HEP Partners LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 5. Regulatory assets under management went from $208,342,392 to $257,907,470 (+24%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $257,907,470
- Discretionary: $257,907,470
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 10 | $257,907,470 |

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

### Firm details
- Registered since: 2012 (14 years)
- Employees: 8 total, 5 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.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Tigre - Prov. de Buenos Aires

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $153,176,447 | 20 | September 30, 2021 |
| October 2022 | $344,612,789 | 19 | April 29, 2022 |
| October 2023 | $358,697,580 | 10 | March 31, 2023 |
| October 2024 | $221,402,131 | 9 | May 3, 2024 |
| October 2025 | $208,342,392 | 9 | April 2, 2025 |
| October 2026 | $257,907,470 | 8 | March 31, 2026 |

Regulatory assets under management: $153,176,447 in the October 2021 data and $257,907,470 in the October 2026 data, up 68%.
Total employees: 20 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 5.
- Regulatory assets under management went from $208,342,392 to $257,907,470 (+24%).

### February 2026
- Changed its office addresses in Tigre - Prov. de Buenos Aires.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. HEP Partners LLC (CRD 161386): Form ADV filing data as of October 2026.