# Spicewood Mineral Management, LLC

> Spicewood Mineral Management, LLC is an SEC-registered investment advisory firm in Dallas, TX, registered since 2023, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 310323
- Filed as: SPICEWOOD MINERAL MANAGEMENT, 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/310323
- AdvisorCensus page: https://advisorcensus.com/firm/spicewood-mineral-management-llc-dallas-tx-310323

## Quick answers

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

**How much does Spicewood Mineral Management, LLC charge?**
Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1.5% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

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

**Is Spicewood Mineral Management, LLC registered with the SEC or a state?**
Spicewood Mineral Management, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 310323.

**How much does Spicewood Mineral Management, LLC manage?**
Spicewood Mineral Management, LLC reports $644,748,402 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Spicewood Mineral Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Spicewood Mineral Management, LLC: Regulatory assets under management: $570,850,111 in the October 2023 data and $644,748,402 in the October 2026 data, up 13%. Total employees: 9 in October 2023 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Spicewood Mineral Management, 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 Spicewood Mineral Management, 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/310323

## 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 March 31, 2026)

- Asset-based fee: 1.5% to 2% a year (a range, as the brochure states it)

> Generally, SMM receives a management fee (the “Management Fee”) ranging from 1.5% to 2% per annum of the aggregate committed capital of each Limited Partner during each Fund’s investment or commitment period or term, as applicable

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

### Regulatory assets under management (Item 5.F)
- Total: $644,748,402
- Discretionary: $644,748,402
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $644,748,402 |

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

### Firm details
- Registered since: 2023 (3 years)
- Employees: 10 total, 8 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)
- [spicewoodpartners.com](https://spicewoodpartners.com)
- LinkedIn @spicewoodpartners

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | March 31, 2021 |
| October 2022 | Not reported | Not reported | March 30, 2022 |
| October 2023 | $570,850,111 | 9 | June 30, 2023 |
| October 2024 | $576,347,505 | 12 | May 23, 2024 |
| October 2025 | $605,869,288 | 12 | March 30, 2025 |
| October 2026 | $644,748,402 | 10 | March 31, 2026 |

Regulatory assets under management: $570,850,111 in the October 2023 data and $644,748,402 in the October 2026 data, up 13%.
Total employees: 9 in October 2023 and 10 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Spicewood Mineral Management, LLC (CRD 310323): Form ADV filing data as of October 2026.