{ "crd_number": 107518, "slug": "penn-mutual-asset-management-llc-conshohocken-pa-107518", "primary_business_name": "PENN MUTUAL ASSET MANAGEMENT, LLC", "legal_name": "PENN MUTUAL ASSET MANAGEMENT, LLC", "dbas": [], "city": "Conshohocken", "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": "1990-02-02", "years_registered": 36, "period": "2026-10-01", "filing_date": "2026-04-01", "carried_forward": false, "raum_total": 42286743213.0, "raum_discretionary": 42286743213.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 30, "advisory_employees": 30, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "insurance_companies": { "raum": 32983935631.0, "count": 5 }, "investment_companies": { "raum": 9275419204.0, "count": 29 }, "corporations_other_businesses": { "raum": 27388378.0, "count": 1, "fewer_than_5": true } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles", "selection_of_other_advisers" ], "wrap_fee_participant": true, "disclosure_yes_count": 0, "states_registered": [ "DE", "PA" ], "websites": [ "https://linkedin.com/COMPANY/PENN-MUTUAL-ASSET-MANAGEMENT-INC-", "https://pennmutualam.com", "https://twitter.com/PENNMUTUALAM" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107518", "city_as_filed": "CONSHOHOCKEN", "url": "https://advisorcensus.com/firm/penn-mutual-asset-management-llc-conshohocken-pa-107518", "display_name": "Penn Mutual Asset Management, LLC", "summary": "Penn Mutual Asset Management, LLC is an SEC-registered investment advisory firm in Conshohocken, PA, registered since 1990, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 1, 2026.", "citation": "AdvisorCensus. Penn Mutual Asset Management, LLC (CRD 107518): 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)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients", "Selection of other advisers (including private fund managers)" ], "quick_answers": [ { "q": "How is Penn Mutual Asset Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Penn Mutual Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Penn Mutual Asset Management, LLC located?", "a": "Penn Mutual Asset Management, LLC's principal office is in Conshohocken, PA, according to its Form ADV." }, { "q": "Is Penn Mutual Asset Management, LLC registered with the SEC or a state?", "a": "Penn Mutual Asset Management, LLC is an SEC-registered investment advisory firm, registered since 1990. Status as filed: Approved. CRD 107518." }, { "q": "How much does Penn Mutual Asset Management, LLC manage?", "a": "Penn Mutual Asset Management, LLC reports $42,286,743,213 in regulatory assets under management in its Form ADV filing dated April 1, 2026 (100% discretionary)." }, { "q": "How have Penn Mutual Asset Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Penn Mutual Asset Management, LLC: Regulatory assets under management: $31,455,781,856 in the October 2021 data and $42,286,743,213 in the October 2026 data, up 34%. Total employees: 37 in October 2021 and 30 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Penn Mutual Asset Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: investment companies (29); insurance companies (5); corporations or other businesses not listed above (1)." }, { "q": "Which custodians does Penn Mutual Asset Management, LLC use?", "a": "Penn Mutual Asset Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Bank of New York Mellon as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Penn Mutual Asset Management, LLC 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/107518" }, { "q": "What changed in Penn Mutual Asset Management, LLC's recent Form ADV filings?", "a": "In the May 2026 filing data: Employees performing advisory functions went from 35 to 30. Registered or notice-filed in DE." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 31455781856.0, "total_employees": 37, "filing_date": "2021-03-31" }, { "period": "2022-10-01", "regulatory_assets_under_management": 34719865526.0, "total_employees": 35, "filing_date": "2022-05-06" }, { "period": "2023-10-01", "regulatory_assets_under_management": 30327835189.0, "total_employees": 38, "filing_date": "2023-05-30" }, { "period": "2024-10-01", "regulatory_assets_under_management": 33655762702.0, "total_employees": 33, "filing_date": "2024-03-29" }, { "period": "2025-10-01", "regulatory_assets_under_management": 39106375391.0, "total_employees": 35, "filing_date": "2025-07-02" }, { "period": "2026-10-01", "regulatory_assets_under_management": 42286743213.0, "total_employees": 30, "filing_date": "2026-04-01" } ], "recent_changes": [ { "period": "2026-05-01", "period_label": "May 2026", "notes": [ "Employees performing advisory functions went from 35 to 30.", "Registered or notice-filed in DE." ] }, { "period": "2025-11-01", "period_label": "November 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "The Bank of New York Mellon", "name_as_filed": "THE BANK OF NEW YORK MELLON", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/penn-mutual-asset-management-llc-conshohocken-pa-107518.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 29, "fewer_than_5": false, "raum": 9275419204.0 }, { "type": "insurance_companies", "label": "Insurance companies", "count": 5, "fewer_than_5": false, "raum": 32983935631.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 1, "fewer_than_5": true, "raum": 27388378.0 } ], "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/107518", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }