{
  "crd_number": 333271,
  "slug": "psp-research-llc-333271",
  "primary_business_name": "PSP RESEARCH LLC",
  "legal_name": "PSP RESEARCH LLC",
  "dbas": [],
  "city": null,
  "state": null,
  "country": null,
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2024-11-04",
  "years_registered": 1,
  "period": "2026-10-01",
  "filing_date": "2026-07-01",
  "carried_forward": false,
  "raum_total": 178637243.0,
  "raum_discretionary": 178637243.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 1,
  "advisory_employees": 1,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "corporations_other_businesses": {
      "raum": 178637243.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "NV",
    "PA"
  ],
  "websites": [],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/333271",
  "city_as_filed": null,
  "url": "https://advisorcensus.com/firm/psp-research-llc-333271",
  "display_name": "PSP Research LLC",
  "summary": "PSP Research LLC is an SEC-registered investment advisory firm, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 1, 2026.",
  "citation": "AdvisorCensus. PSP Research LLC (CRD 333271): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is PSP Research LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), PSP Research LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does PSP Research LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated July 1, 2026 states: Asset-based fee: up to 2% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Is PSP Research LLC registered with the SEC or a state?",
      "a": "PSP Research LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 333271."
    },
    {
      "q": "How much does PSP Research LLC manage?",
      "a": "PSP Research LLC reports $178,637,243 in regulatory assets under management in its Form ADV filing dated July 1, 2026 (100% discretionary)."
    },
    {
      "q": "How have PSP Research LLC's assets and staff changed since 2025?",
      "a": "In the Form ADV data for PSP Research LLC: Regulatory assets under management: $110,000,000 in the October 2025 data and $178,637,243 in the October 2026 data, up 62%. Total employees: 1 in October 2025 and 1 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "Which custodians does PSP Research LLC use?",
      "a": "PSP Research LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists CF Secured, LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does PSP Research LLC report any disciplinary disclosures?",
      "a": "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/333271"
    },
    {
      "q": "Does PSP Research LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated July 1, 2026 says: \"PSP Research generally requires a minimum relationship size of $10,000,000 to effectively implement its investment process.\""
    },
    {
      "q": "What changed in PSP Research LLC's recent Form ADV filings?",
      "a": "In the March 2026 filing data: Regulatory assets under management went from $110,000,000 to $178,637,243 (+62%). Registered or notice-filed in NV."
    }
  ],
  "filing_history": [
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 110000000.0,
      "total_employees": 1,
      "filing_date": "2025-05-20"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 178637243.0,
      "total_employees": 1,
      "filing_date": "2026-07-01"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Regulatory assets under management went from $110,000,000 to $178,637,243 (+62%).",
        "Registered or notice-filed in NV."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated July 1, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": "2% of assets a year",
    "account_minimum": "$10,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: up to 2% of assets a year (the maximum the brochure states)"
        ],
        "quotes": [
          "Investment advisory fees range up to 2.00% annually based on several factors, including: the scope and complexity of the services to be provided; the level of assets to be managed; and the overall relationship with the Advisor."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $10,000,000"
        ],
        "quotes": [
          "PSP Research generally requires a minimum relationship size of $10,000,000 to effectively implement its investment process."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": 2.0,
      "account_minimum": 10000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Investment advisory fees range up to 2.00% annually based on several factors, including: the scope and complexity of the services to be provided; the level of assets to be managed; and the overall relationship with the Advisor.",
      "PSP Research generally requires a minimum relationship size of $10,000,000 to effectively implement its investment process."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "CF Secured, LLC",
      "name_as_filed": "CF SECURED, LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/psp-research-llc-333271.md",
  "clients": [
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 178637243.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/333271",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}