As global change accelerates, natural resource-dependent communities must respond and adapt. Small-scale fisheries, essential for coastal livelihoods and food security, are considered among the most vulnerable of these coupled social-ecological systems. While previous studies have examined vulnerability and adaptation in fisheries at the individual, household, and community level, these scales of organization are inconsistent with many of the legal and regulatory frameworks that function in practice to mediate behavior, decision-making, and adaptation. Here, we use cooperative- and privately-owned fishing enterprises in Northwest Mexico as a case study to examine how different forms of marine self-governance experience and respond to climate shocks. Leveraging social-ecological network methods to examine changes in fisheries participation and vulnerability during a recent period of pronounced regional oceanographic change, our analysis suggests that: 1) different forms of SSF self-governance (and the fishing strategies and harvest portfolios with which they are associated) help determine the impacts of and response to environmental change; and 2) that there may be important tradeoffs between short-term responses which function to prevent or mitigate lost fishing revenue and long-term changes in climate vulnerability. In particular large fishing cooperatives, predicted to be highly vulnerable on the basis of network theoretic metrics, exceeded expectations (maintaining or increasing resource revenues) while demonstrating a degree of path dependency that may function to increase sensitivity and undermine resilience as climate change progresses. In providing an empirical evaluation of how self-governance arrangements characterized by different group sizes, access regimes and levels of cooperation respond to system perturbation, we aim to advance common pool resource theory while offering targeted guidance for the development of more nuanced and equitable climate adaptation policies.