# Rubenstein Partners

> 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.

- CRD: 156988
- Filed as: RUBENSTEIN PARTNERS
- Legal name: Rubenstein Partners, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Philadelphia, PA
- Filing period: October 2026
- Form ADV filing dated: April 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/156988
- AdvisorCensus page: https://advisorcensus.com/firm/rubenstein-partners-philadelphia-pa-156988

## Quick answers

**How is Rubenstein Partners compensated?**
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. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Rubenstein Partners located?**
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).

**Is Rubenstein Partners registered with the SEC or a state?**
Rubenstein Partners is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156988.

**How much does Rubenstein Partners manage?**
Rubenstein Partners reports $378,900,000 in regulatory assets under management in its Form ADV filing dated April 25, 2026 (100% discretionary).

**How have Rubenstein Partners' assets and staff changed since 2021?**
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.

**What types of clients does Rubenstein Partners serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8); other (4).

**Does Rubenstein Partners report any disciplinary disclosures?**
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

**What changed in Rubenstein Partners' recent Form ADV filings?**
In the May 2026 filing data: Regulatory assets under management went from $331,200,000 to $378,900,000 (+14%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $378,900,000
- Discretionary: $378,900,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 8 | $328,000,000 |
| Other | 4 | $50,900,000 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 43 total, 15 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: GA, MD, NY, PA, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- New York, NY
- Rockville, MD

### Websites listed on Form ADV (Item 1.I)
- rubensteinpartners.com
- LinkedIn @rubenstein-partners

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,473,600,000 | 49 | March 31, 2021 |
| October 2022 | $1,552,500,000 | 52 | March 31, 2022 |
| October 2023 | $1,176,700,000 | 48 | March 31, 2023 |
| October 2024 | $681,000,000 | 51 | March 27, 2024 |
| October 2025 | $461,200,000 | 56 | March 31, 2025 |
| October 2026 | $378,900,000 | 43 | April 25, 2026 |

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.

## Changes in the filing (last 12 months)

### May 2026
- Regulatory assets under management went from $331,200,000 to $378,900,000 (+14%).

### April 2026
- 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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Rubenstein Partners (CRD 156988): Form ADV filing data as of October 2026.