{
  "crd_number": 161361,
  "slug": "white-deer-houston-tx-161361",
  "primary_business_name": "WHITE DEER",
  "legal_name": "WHITE DEER MANAGEMENT LLC",
  "dbas": [],
  "city": "Houston",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "26420",
  "metro": {
    "cbsa_code": "26420",
    "common_name": "Houston",
    "msa_name": "Houston-Pasadena-The Woodlands, TX",
    "path": "/advisors/tx/houston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-03-29",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-08-20",
  "carried_forward": false,
  "raum_total": 960846750.0,
  "raum_discretionary": 960846750.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 9,
  "advisory_employees": 7,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 34605978.0,
      "count": 2,
      "description": "FUNDS OF ONE",
      "fewer_than_5": true
    },
    "pooled_investment_vehicles": {
      "raum": 926240772.0,
      "count": 13
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "TX"
  ],
  "websites": [
    "https://linkedin.com/COMPANY/WHITE-DEER-ENERGY",
    "https://whitedeerenergy.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161361",
  "city_as_filed": "HOUSTON",
  "url": "https://advisorcensus.com/firm/white-deer-houston-tx-161361",
  "display_name": "White Deer",
  "summary": "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.",
  "citation": "AdvisorCensus. White Deer (CRD 161361): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is White Deer compensated?",
      "a": "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. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is White Deer located?",
      "a": "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)."
    },
    {
      "q": "Is White Deer registered with the SEC or a state?",
      "a": "White Deer is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161361."
    },
    {
      "q": "How much does White Deer manage?",
      "a": "White Deer reports $960,846,750 in regulatory assets under management in its Form ADV filing dated August 20, 2026 (100% discretionary)."
    },
    {
      "q": "How have White Deer's assets and staff changed since 2021?",
      "a": "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."
    },
    {
      "q": "What types of clients does White Deer serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (13); other (2)."
    },
    {
      "q": "Does White Deer 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/161361"
    },
    {
      "q": "What changed in White Deer's recent Form ADV filings?",
      "a": "In the September 2026 filing data: No longer lists an office in New York, NY."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1364542636.0,
      "total_employees": 19,
      "filing_date": "2021-06-17"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1646893555.0,
      "total_employees": 17,
      "filing_date": "2022-04-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1903454806.0,
      "total_employees": 20,
      "filing_date": "2023-03-28"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1337350359.0,
      "total_employees": 11,
      "filing_date": "2024-07-01"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1399198377.0,
      "total_employees": 10,
      "filing_date": "2025-07-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 960846750.0,
      "total_employees": 9,
      "filing_date": "2026-08-20"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "No longer lists an office in New York, NY."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 8 to 7.",
        "Regulatory assets under management went from $1,448,117,802 to $960,846,750 (-34%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/white-deer-houston-tx-161361.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 13,
      "fewer_than_5": false,
      "raum": 926240772.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": true,
      "raum": 34605978.0
    }
  ],
  "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/161361",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}