{
  "crd_number": 161251,
  "slug": "engaged-capital-newport-beach-ca-161251",
  "primary_business_name": "ENGAGED CAPITAL",
  "legal_name": "ENGAGED CAPITAL, LLC",
  "dbas": [],
  "city": "Newport Beach",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "31080",
  "metro": {
    "cbsa_code": "31080",
    "common_name": "Los Angeles",
    "msa_name": "Los Angeles-Long Beach-Anaheim, CA",
    "path": "/advisors/ca/los-angeles"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2012-09-25",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-02-18",
  "carried_forward": false,
  "raum_total": 432294709.0,
  "raum_discretionary": 432294709.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 11,
  "advisory_employees": 6,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 432294709.0,
      "count": 8
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "CA"
  ],
  "websites": [
    "https://engagedcapital.com",
    "https://linkedin.com/company/engaged-capital-llc"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161251",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "NEWPORT BEACH",
  "url": "https://advisorcensus.com/firm/engaged-capital-newport-beach-ca-161251",
  "display_name": "Engaged Capital",
  "summary": "Engaged Capital is an SEC-registered investment advisory firm in Newport Beach, CA, registered since 2012, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 18, 2026.",
  "citation": "AdvisorCensus. Engaged Capital (CRD 161251): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Engaged Capital compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Engaged Capital reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Engaged Capital charge?",
      "a": "Its Form ADV Part 2A brochure dated February 17, 2026 states: Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Engaged Capital located?",
      "a": "Engaged Capital's principal office is in Newport Beach, CA, according to its Form ADV."
    },
    {
      "q": "Is Engaged Capital registered with the SEC or a state?",
      "a": "Engaged Capital is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161251."
    },
    {
      "q": "How much does Engaged Capital manage?",
      "a": "Engaged Capital reports $432,294,709 in regulatory assets under management in its Form ADV filing dated February 18, 2026 (100% discretionary)."
    },
    {
      "q": "How have Engaged Capital's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Engaged Capital: Regulatory assets under management: $1,359,583,892 in the October 2021 data and $432,294,709 in the October 2026 data, down 68%. Total employees: 12 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Engaged Capital serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8)."
    },
    {
      "q": "Does Engaged Capital report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/161251"
    },
    {
      "q": "What changed in Engaged Capital's recent Form ADV filings?",
      "a": "In the March 2026 filing data: Item 11 disclosure answers changed: 3 yes answers, previously 0 (now yes: 11.C(2), 11.C(4), 11.C(5)). Employees performing advisory functions went from 7 to 6. Regulatory assets under management went from $652,291,393 to $432,294,709 (-34%). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1359583892.0,
      "total_employees": 12,
      "filing_date": "2021-03-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 912896250.0,
      "total_employees": 12,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 701322786.0,
      "total_employees": 12,
      "filing_date": "2023-06-06"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 752991460.0,
      "total_employees": 12,
      "filing_date": "2024-07-25"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 652291393.0,
      "total_employees": 12,
      "filing_date": "2025-07-02"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 432294709.0,
      "total_employees": 11,
      "filing_date": "2026-02-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Item 11 disclosure answers changed: 3 yes answers, previously 0 (now yes: 11.C(2), 11.C(4), 11.C(5)).",
        "Employees performing advisory functions went from 7 to 6.",
        "Regulatory assets under management went from $652,291,393 to $432,294,709 (-34%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated February 17, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1% to 1.75% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1% to 1.75% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Our fees, which may be subject to negotiation, generally range from 1.00% to 1.75% annually, based primarily on the amount of assets being placed under management with us, the point in time in the life cycle of the relevant Client that the assets are placed, and the length of the commitment."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.0,
        1.75
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Our fees, which may be subject to negotiation, generally range from 1.00% to 1.75% annually, based primarily on the amount of assets being placed under management with us, the point in time in the life cycle of the relevant Client that the assets are placed, and the length of the commitment."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/engaged-capital-newport-beach-ca-161251.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 432294709.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "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/161251",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}