# Reservoir Operations, L.P.

> Reservoir Operations, L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2012, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 15, 2026.

- CRD: 156800
- Filed as: RESERVOIR OPERATIONS, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: September 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/156800
- AdvisorCensus page: https://advisorcensus.com/firm/reservoir-operations-l-p-new-york-ny-156800

## Quick answers

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

**Where is Reservoir Operations, L.P. located?**
Reservoir Operations, L.P.'s principal office is in New York, NY, according to its Form ADV.

**Is Reservoir Operations, L.P. registered with the SEC or a state?**
Reservoir Operations, L.P. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156800.

**How much does Reservoir Operations, L.P. manage?**
Reservoir Operations, L.P. reports $364,762,933 in regulatory assets under management in its Form ADV filing dated September 15, 2026 (100% discretionary).

**How have Reservoir Operations, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Reservoir Operations, L.P.: Regulatory assets under management: $2,268,916,648 in the October 2021 data and $364,762,933 in the October 2026 data, down 84%. Total employees: 15 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 Reservoir Operations, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does Reservoir Operations, L.P. 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/156800

**What changed in Reservoir Operations, L.P.'s recent Form ADV filings?**
In the September 2026 filing data: 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

### Regulatory assets under management (Item 5.F)
- Total: $364,762,933
- Discretionary: $364,762,933
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $364,762,933 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 8 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- reservoircap.com
- LinkedIn @RESERVOIR-CAPITAL-GROUP

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,268,916,648 | 15 | July 12, 2021 |
| October 2022 | $2,093,841,103 | 15 | July 15, 2022 |
| October 2023 | $2,217,457,907 | 15 | August 1, 2023 |
| October 2024 | $538,186,498 | 9 | March 28, 2024 |
| October 2025 | $436,805,575 | 9 | March 31, 2025 |
| October 2026 | $364,762,933 | 8 | September 15, 2026 |

Regulatory assets under management: $2,268,916,648 in the October 2021 data and $364,762,933 in the October 2026 data, down 84%.
Total employees: 15 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Regulatory assets under management went from $436,805,575 to $364,762,933 (-16%).
- Registered or notice-filed in CA.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Reservoir Operations, L.P. (CRD 156800): Form ADV filing data as of October 2026.