Rutabaga Capital Management LLC (Boston)

Rutabaga Capital Management LLC is a large advisory firm based in Boston. It manages $329.67 million of regulatory assets for 13 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Colorado, Massachusetts, and Tennessee.

Rutabaga Capital Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and limited partnership. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Rutabaga Capital Management: assets under management

The assets under management (AUM) of Rutabaga Capital Management LLC is $329.67 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 39% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $329.67 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $25.36 million each.

Rutabaga Capital Management has custody of $107.98 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 96% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 4% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Rutabaga Capital Management LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Rutabaga Capital Management serves?

The firm provides services to investment companies and pooled investment vehicles. The largest group of clients of Rutabaga Capital Management is pooled investment vehicles with 4 clients and $208.87 million of assets under management. Among the 12 most similar advisory firms, Rutabaga Capital Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $237.89 million for 5 clients. None of the firm’s clients are foreign persons or businesses.

Rutabaga Capital Management also advises several private funds. Namely, two other private funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $5,000,000.

Careers at Rutabaga Capital Management LLC

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Peter Conkling Schliemann	Managing principal	1 Jan 1999	25% - 50%	1787578
Jr. Eugene Herr Gardner	Principal	1 Jan 1999	Other	4356052
Brent Edward Miley	Principal	1 Jan 1999	Other	4369861
Dana E. Cohen	Principal	1 May 1999	Other	4370134
Nathan Carter Newbold	Principal	1 Apr 2000	Other	2384171
Dennis J. Scannell	Principal	1 Apr 2000	Other	4369862
Dana E. Cohen	Chief compliance officer	1 Oct 2004	Other	4370134
Robert Alan Henderson	Principal	1 May 2005	Other	4955965

Based in Boston

The principal office where Rutabaga Capital Management LLC performs its advisory services is located at 64 Broad Street, Boston, MA 02109, which is also the mailing address of the firm. An additional office of the firm is in Chattanooga, TN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-204-1160 or by fax 617-204-1161. The normal business hours are 9-5 on Monday - Friday.