{
  "crd_number": 291195,
  "slug": "gadsden-newtown-square-pa-291195",
  "primary_business_name": "GADSDEN",
  "legal_name": "GADSDEN, LLC",
  "dbas": [],
  "city": "Newtown Square",
  "state": "PA",
  "country": "United States",
  "cbsa_code": "37980",
  "metro": {
    "cbsa_code": "37980",
    "common_name": "Philadelphia",
    "msa_name": "Philadelphia-Camden-Wilmington, PA-NJ-DE-MD",
    "path": "/advisors/pa/philadelphia"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2018-02-08",
  "years_registered": 8,
  "period": "2026-10-01",
  "filing_date": "2026-07-27",
  "carried_forward": false,
  "raum_total": 161816966.0,
  "raum_discretionary": 0.0,
  "raum_non_discretionary": 161816966.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 2,
  "advisory_employees": 1,
  "client_count_bucket": null,
  "clients_by_type": {
    "investment_companies": {
      "raum": 161816966.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "PA"
  ],
  "websites": [
    "https://gadsdenfunds.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/291195",
  "city_as_filed": "NEWTOWN SQUARE",
  "url": "https://advisorcensus.com/firm/gadsden-newtown-square-pa-291195",
  "display_name": "Gadsden",
  "summary": "Gadsden is an SEC-registered investment advisory firm in Newtown Square, PA, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 27, 2026.",
  "citation": "AdvisorCensus. Gadsden (CRD 291195): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Gadsden compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Gadsden reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Gadsden located?",
      "a": "Gadsden's principal office is in Newtown Square, PA, according to its Form ADV."
    },
    {
      "q": "Is Gadsden registered with the SEC or a state?",
      "a": "Gadsden is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 291195."
    },
    {
      "q": "How much does Gadsden manage?",
      "a": "Gadsden reports $161,816,966 in regulatory assets under management in its Form ADV filing dated July 27, 2026 (0% discretionary)."
    },
    {
      "q": "How have Gadsden's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Gadsden: Regulatory assets under management: $98,135,701 in the October 2021 data and $161,816,966 in the October 2026 data, up 65%. Total employees: 5 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Gadsden serve?",
      "a": "By number of clients on Form ADV Item 5.D: investment companies (1)."
    },
    {
      "q": "Does Gadsden 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/291195"
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 98135701.0,
      "total_employees": 5,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 119912569.0,
      "total_employees": 4,
      "filing_date": "2022-03-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 154258510.0,
      "total_employees": 3,
      "filing_date": "2023-08-11"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 147265886.0,
      "total_employees": 2,
      "filing_date": "2024-07-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 149734946.0,
      "total_employees": 2,
      "filing_date": "2025-04-01"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 161816966.0,
      "total_employees": 2,
      "filing_date": "2026-07-27"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/gadsden-newtown-square-pa-291195.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 161816966.0
    }
  ],
  "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/291195",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}