# Blue Waters Advisory Group

Blue Waters Advisory Group is a RIA based in Austin, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** Austin, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Assets under management:** Undisclosed
- **Website:** bluewatersadvisorygroup.com

## Regulatory record

- **CRD number:** 158536
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/158536

## About

BLUE WATERS ADVISORY GROUP, LLC is a state-registered investment adviser in AUSTIN, TX. The firm manages $98 million in assets, $95 million on a discretionary basis. It has 4 employees and 1 investment adviser.

## People

- James D. Passin — Manager

## Questions

### Who makes investment decisions at Blue Waters Advisory Group?

James D. Passin, the firm's manager and sole principal, makes all investment decisions. Passin built his career at Firebird Management, where he co-managed frontier-market funds focused on the former Soviet Union and Mongolia. He operates Blue Waters as an extension of his personal portfolio without a formal investment committee.

### What markets and asset classes does Blue Waters target?

The firm concentrates on publicly traded equities in frontier and post-Soviet markets, including Mongolia, Ukraine, and Georgia. Passin has historically favored consumer-facing companies, financial services, and natural-resource plays. The firm does not appear to invest in private equity, venture capital, or real assets.

### How is Blue Waters Advisory Group related to Firebird Management?

James Passin was a manager and partner at Firebird Management for 17 years before forming Blue Waters to manage his own capital. The two entities share no ownership or operational structure, though Passin's investment style reflects the frontier-market discipline he developed at Firebird.

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Last updated: 2026-07-06T01:24:12.630Z

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