# Homestake Management

Homestake Management is a RIA based in Bozeman, United States.

## Overview

- **Organization type:** RIA
- **Headquarters:** Bozeman, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Assets under management:** $1B - $5B (Altss estimate)
- **Website:** homestakemanagement.com

## Regulatory record

- **CRD number:** 331198
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/331198

## About

HOMESTAKE MANAGEMENT, LLC is a state-registered investment adviser based in Bozeman, MT. It manages discretionary portfolios for high net worth individuals and families. The firm is led by its founder.

## Sectors

- Education
- Private Credit
- Real Estate
- Hedge Funds

## People

- William Oberndorf — Chairman

## Questions

### How does Homestake Management separate its political and charitable giving from its investment activity?

No formal separation between the investment office and Oberndorf's political giving has been disclosed. The office does not maintain a public-facing foundation, and both charitable and campaign contributions appear to flow through personal accounts, organized under Oberndorf's direct control rather than an independent 501(c)(3) with a separate board. This integrated structure is not uncommon among families where advocacy and investment share a common analytical framework.

### Is Homestake Management related to SPO Partners today?

SPO Partners wound down its outside capital operations in the early 2010s. Homestake Management now functions independently as Oberndorf's personal office, with no ongoing investment connection to the SPO entity or its former limited partners. The intellectual DNA — concentrated bets, patience, avoidance of fundraising — persists.

## Related profiles

- [Rocana Cayman](https://altss.com/profile/rocana-cayman-llc)
- [Money Calculus](https://altss.com/profile/money-calculus-llc)

---

Last updated: 2026-07-06T01:24:18.394Z

Canonical page: https://altss.com/profile/homestake-management-llc

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology