# Petrocap, LLC

> Petrocap, LLC 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 March 30, 2026.

- CRD: 169688
- Filed as: PETROCAP, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/169688
- AdvisorCensus page: https://advisorcensus.com/firm/petrocap-llc-dallas-tx-169688

## Quick answers

**How is Petrocap, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Petrocap, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Petrocap, LLC located?**
Petrocap, LLC's principal office is in Dallas, TX, according to its Form ADV.

**Is Petrocap, LLC registered with the SEC or a state?**
Petrocap, LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 169688.

**How much does Petrocap, LLC manage?**
Petrocap, LLC reports $949,062,177 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Petrocap, LLC's assets and staff changed since 2021?**
In the Form ADV data for Petrocap, LLC: Regulatory assets under management: $808,682,300 in the October 2021 data and $949,062,177 in the October 2026 data, up 17%. Total employees: 16 in October 2021 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going.

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

**Does Petrocap, 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/169688

**What changed in Petrocap, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $807,503,385 to $949,062,177 (+18%).

## 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: $949,062,177
- Discretionary: $949,062,177
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $949,062,177 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2014 (12 years)
- Employees: 15 total, 6 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)
- aplomadopartners.com
- petrocap.com
- LinkedIn @APLOMADO-PARTNERS
- LinkedIn @PETROCAPLLC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $808,682,300 | 16 | July 30, 2021 |
| October 2022 | $872,335,294 | 14 | March 31, 2022 |
| October 2023 | $1,008,723,827 | 14 | March 30, 2023 |
| October 2024 | $914,285,674 | 16 | April 26, 2024 |
| October 2025 | $807,503,385 | 15 | March 28, 2025 |
| October 2026 | $949,062,177 | 15 | March 30, 2026 |

Regulatory assets under management: $808,682,300 in the October 2021 data and $949,062,177 in the October 2026 data, up 17%.
Total employees: 16 in October 2021 and 15 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $807,503,385 to $949,062,177 (+18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Petrocap, LLC (CRD 169688): Form ADV filing data as of October 2026.