AdvisorCensus / Financial advisors / Texas / Houston / White Deer
White Deer is an SEC-registered investment advisory firm in Houston, TX, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 20, 2026.
Quick answers
From the filingHow is White Deer compensated?
On its Form ADV (Item 5.E, October 2026), White Deer reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.
Where is White Deer located?
White Deer's principal office is in Houston, TX, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is White Deer registered with the SEC or a state?
White Deer is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161361.
How much does White Deer manage?
White Deer reports $960,846,750 in regulatory assets under management in its Form ADV filing dated August 20, 2026 (100% discretionary).
How have White Deer's assets and staff changed since 2021?
In the Form ADV data for White Deer: Regulatory assets under management: $1,364,542,636 in the October 2021 data and $960,846,750 in the October 2026 data, down 30%. Total employees: 19 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does White Deer serve?
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13); other (2).
Does White Deer 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/161361
What changed in White Deer's recent Form ADV filings?
In the September 2026 filing data: No longer lists an office in New York, NY.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AThe brochure lists different fees for different services or strategies. See the firm's brochure (dated August 20, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$960,846,750 as of October 2026, filing dated August 20, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for pooled investment vehicles (other than investment companies)
Registration and firm details
Items 1, 2, 5- Legal name
- White Deer Management LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2012 (14 years)
- Employees
- Total: 9. Performing investment advisory functions: 7.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the April 2026 filing
- States registered or notice-filed
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $960,846,750 | 9 | August 20, 2026 |
| October 2025 | $1,399,198,377 | 10 | July 30, 2025 |
| October 2024 | $1,337,350,359 | 11 | July 1, 2024 |
| October 2023 | $1,903,454,806 | 20 | March 28, 2023 |
| October 2022 | $1,646,893,555 | 17 | April 28, 2022 |
| October 2021 | $1,364,542,636 | 19 | June 17, 2021 |
Regulatory assets under management: $1,364,542,636 in the October 2021 data and $960,846,750 in the October 2026 data, down 30%.
Total employees: 19 in October 2021 and 9 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- September 2026
- No longer lists an office in New York, NY.
- April 2026
- Employees performing advisory functions went from 8 to 7.
- Regulatory assets under management went from $1,448,117,802 to $960,846,750 (-34%).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. White Deer (CRD 161361): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/white-deer-houston-tx-161361