{
  "crd_number": 156988,
  "slug": "rubenstein-partners-philadelphia-pa-156988",
  "primary_business_name": "RUBENSTEIN PARTNERS",
  "legal_name": "RUBENSTEIN PARTNERS, L.P.",
  "dbas": [],
  "city": "Philadelphia",
  "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": "2012-03-30",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-04-25",
  "carried_forward": false,
  "raum_total": 378900000.0,
  "raum_discretionary": 378900000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 43,
  "advisory_employees": 15,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 50900000.0,
      "count": 4,
      "description": "REIT"
    },
    "pooled_investment_vehicles": {
      "raum": 328000000.0,
      "count": 8
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "GA",
    "MD",
    "NY",
    "PA",
    "VA"
  ],
  "websites": [
    "https://linkedin.com/company/rubenstein-partners",
    "https://rubensteinpartners.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/156988",
  "city_as_filed": "PHILADELPHIA",
  "url": "https://advisorcensus.com/firm/rubenstein-partners-philadelphia-pa-156988",
  "display_name": "Rubenstein Partners",
  "summary": "Rubenstein Partners is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2012, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 25, 2026.",
  "citation": "AdvisorCensus. Rubenstein Partners (CRD 156988): 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",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Rubenstein Partners compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Rubenstein Partners reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is Rubenstein Partners located?",
      "a": "Rubenstein Partners' principal office is in Philadelphia, PA, according to its Form ADV; the May 2026 filing also lists 2 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Rubenstein Partners registered with the SEC or a state?",
      "a": "Rubenstein Partners is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156988."
    },
    {
      "q": "How much does Rubenstein Partners manage?",
      "a": "Rubenstein Partners reports $378,900,000 in regulatory assets under management in its Form ADV filing dated April 25, 2026 (100% discretionary)."
    },
    {
      "q": "How have Rubenstein Partners' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Rubenstein Partners: Regulatory assets under management: $1,473,600,000 in the October 2021 data and $378,900,000 in the October 2026 data, down 74%. Total employees: 49 in October 2021 and 43 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Rubenstein Partners serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8); other (4)."
    },
    {
      "q": "Does Rubenstein Partners 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/156988"
    },
    {
      "q": "What changed in Rubenstein Partners' recent Form ADV filings?",
      "a": "In the May 2026 filing data: Regulatory assets under management went from $331,200,000 to $378,900,000 (+14%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1473600000.0,
      "total_employees": 49,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1552500000.0,
      "total_employees": 52,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1176700000.0,
      "total_employees": 48,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 681000000.0,
      "total_employees": 51,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 461200000.0,
      "total_employees": 56,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 378900000.0,
      "total_employees": 43,
      "filing_date": "2026-04-25"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Regulatory assets under management went from $331,200,000 to $378,900,000 (+14%)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 26 to 15.",
        "Regulatory assets under management went from $461,200,000 to $331,200,000 (-28%).",
        "Changed its office addresses in New York, NY.",
        "Added an office in Rockville, MD.",
        "No longer lists an office in Alexandria, VA.",
        "No longer lists an office in Atlanta, GA.",
        "Registered or notice-filed in MD."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/rubenstein-partners-philadelphia-pa-156988.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": 328000000.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 4,
      "fewer_than_5": false,
      "raum": 50900000.0
    }
  ],
  "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/156988",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}