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RIA / WealthRegistered adviserinstitutional managerSEC registeredRAUM 10b 100b

PENN MUTUAL ASSET MANAGEMENT, LLC

CRD 107518

CONSHOHOCKEN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:adb240c2-6bbd-35fc-1428-75800a18f821

Data as of Apr 1, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 11:17 PM UTC and rebuilt at most every 15 minutes.

Relationships: 17
Dated events: 4
On other graphs: 0
Observed: Mar 29, 2012 to Apr 1, 2026
37 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: institutional managerderivedprivate_client_share=0.0 fund_share=0.22 institutional_share=0.78 related_bd=true related_bank=false bd_reps=3.0
Regulatory AUM: $42BItem 5.F on the latest filing (2026-04-01); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $42B
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 1
RAUM per advisor: $42Bderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 30
Advisory employees: 30
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 35
Custody, client assets: $29B
SEC number: 801-35477
CIK: 855702
CRD: 107518
Filings on the tape: 37
First filed: Mar 29, 2012
Latest filed: Apr 1, 2026
Organised: Limited Liability Company, DE
Website: pennmutualam.com

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
Trevor M Williams	Chartered Financial Analyst	Horsham, PA	8	22	2	no

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES A	Hedge Fund	$135M	May 6, 2022	1	Jan 4, 2016	dropped	021-254554
PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES B	Other Private Fund	$68.6M	Dec 3, 2024	2	Sep 29, 2017	reported	021-290143

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
Huckerby, Keith, Gordon	CHIEF OPERATING OFFICER, MANAGER OF BOARD OF MANAGERS	Na	yes	05/2014	Jun 27, 2014	Dec 3, 2024
O'MALLEY, DAVID, MICHAEL	CHAIRMAN OF THE BOARD OF MANAGERS	Na	yes	06/2014	Mar 29, 2012	Dec 3, 2024
THE PENN MUTUAL LIFE INSURANCE COMPANY	Owner	E	yes	06/1989	Mar 29, 2012	Dec 3, 2024
GORDON, AARON, J	MANAGER OF BOARD OF MANAGERS	Na	no	04/2024	Mar 29, 2024	Dec 3, 2024
HEPPENSTALL, MARK, EMORY	PRESIDENT & CIO, MANAGER OF BOARD OF MANAGERS	Na	no	01/2022	Feb 4, 2022	Dec 3, 2024
RASZEJA, DAVID, MICHAEL	MANAGER OF BOARD OF MANAGERS	Na	no	01/2022	Feb 4, 2022	Dec 3, 2024
Robinson, Victoria, Marie	CHIEF COMPLIANCE OFFICER, MANAGER OF BOARD OF MANAGERS	Na	no	10/2021	Mar 29, 2012	Dec 3, 2024

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
HORNOR, TOWNSEND & KENT, LLC	n/a	Independent wealth	$9.0B	N	yes	n/a
1847 INSURANCE CAPTIVE, LLC	n/a	n/a	n/a	N	yes	n/a
PIA REINSURANCE COMPANY OF DELAWARE I	n/a	n/a	n/a	N	yes	n/a
THE PENN INSURANCE AND ANNUITY COMPANY	n/a	n/a	n/a	N	yes	n/a
THE PENN INSURANCE AND ANNUITY COMPANY OF NEW YORK	n/a	n/a	n/a	N	yes	n/a
THE PENN MUTUAL LIFE INSURANCE COMPANY	n/a	n/a	n/a	Y	no	n/a
VANTIS LIFE INSURANCE COMPANY	n/a	n/a	n/a	N	yes	n/a

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line; showing 15 of 16

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Apr 1, 2026	$42B	$42B	30	30	0	n/a	n/a
2024	Mar 28, 2025	$39B	$39B	35	35	0	1	n/a
2023	Mar 29, 2024	$34B	$34B	33	33	0	1	$68.6M
2022	Mar 31, 2023	$30B	$30B	38	38	0	1	$69.2M
2021	Mar 25, 2022	$35B	$35B	35	35	0	2	$209M
2020	Mar 31, 2021	$31B	$31B	37	37	0	2	$200M
2019	Mar 30, 2020	$29B	$29B	36	36	0	2	$213M
2018	Mar 29, 2019	$25B	$25B	36	36	0	2	$195M
2017	Mar 28, 2018	$25B	$25B	29	29	0	2	$194M
2016	Apr 1, 2017	$21B	$21B	30	30	n/a	1	$129M
2015	Mar 28, 2016	$20B	$20B	29	29	n/a	1	$101M
2014	Mar 23, 2015	$19B	$19B	23	23	n/a	n/a	n/a
2013	Mar 21, 2014	$7.8B	$7.8B	28	13	n/a	n/a	n/a
2012	Apr 1, 2013	$6.2B	$6.2B	28	13	n/a	n/a	n/a
2011	Mar 29, 2012	$5.2B	$5.2B	n/a	n/a	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	0	0	0.0%	0	0	0	0	0

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$42B	$39B	8.1%	$30B	11.7%	30	35	0	0

Teams in

teams that arrived here from one firm together

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
HORNOR, TOWNSEND & KENT, LLC	2	Sep 22, 2017	Dec 7, 2017	HORSHAM, PA	Team lift out	Other	0.5%

Relationships

Affiliated with (4)

← JANNEY MONTGOMERY SCOTT LLCRegistered adviserother investment adviser, control
factForm ADV
← HORNOR, TOWNSEND & KENT, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ HORNOR, TOWNSEND & KENT, LLCRegistered adviserother investment adviser, broker-dealer, common control
factForm ADV
← JANNEY CAPITAL MANAGEMENT LLCRegistered adviserother investment adviser, common control
factForm ADV

Advises (2)

→ PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES BPrivate fundOther Private Fund, IA
Sep 29, 2017 to presentfactForm ADV
→ PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES APrivate fundHedge Fund, IA, no longer reported
Jan 4, 2016 to May 6, 2022factForm ADV

Registered with (3)

← Trevor M WilliamsAdvisorregistration: current employment
Dec 7, 2017 to presentfactForm ADV
← Yu Jin KimAdvisorregistration: previous registration
Dec 6, 2017 to May 7, 2021factForm ADV
← VICTORIA MARIE ROBINSONAdvisorregistration: previous registration
Dec 7, 2017 to Mar 29, 2019factForm ADV

Owns (4)

← HEPPENSTALL, MARK, EMORYOwnerPRESIDENT & CIO, MANAGER OF BOARD OF MANAGERS, ownership code NA, individual
Feb 4, 2022 to Dec 3, 2024factForm ADV
← GORDON, AARON, JOwnerMANAGER OF BOARD OF MANAGERS, ownership code NA, individual
Mar 29, 2024 to Dec 3, 2024factForm ADV
← Robinson, Victoria, MarieOwnerCHIEF COMPLIANCE OFFICER, MANAGER OF BOARD OF MANAGERS, ownership code NA, individual
Mar 29, 2012 to Dec 3, 2024factForm ADV
← RASZEJA, DAVID, MICHAELOwnerMANAGER OF BOARD OF MANAGERS, ownership code NA, individual
Feb 4, 2022 to Dec 3, 2024factForm ADV

Controls (3)

← Huckerby, Keith, GordonOwnerCHIEF OPERATING OFFICER, MANAGER OF BOARD OF MANAGERS, ownership code NA, individual
Jun 27, 2014 to Dec 3, 2024factForm ADV
← O'MALLEY, DAVID, MICHAELOwnerCHAIRMAN OF THE BOARD OF MANAGERS, ownership code NA, individual
Mar 29, 2012 to Dec 3, 2024factForm ADV
← THE PENN MUTUAL LIFE INSURANCE COMPANYOwnerOWNER, ownership code E, domestic entity
Mar 29, 2012 to Dec 3, 2024factForm ADV

Moved with (1)

← HORNOR, TOWNSEND & KENT, LLCRegistered adviser2 advisors, team lift out, same day
Sep 22, 2017 to Dec 7, 2017factForm ADV

Dated events

Occurred
Nov 18, 2024
Succession filed (Item 4)
Penn Mutual Asset Management, Llc reported succeeding to the business of Another Adviser (Form ADV Item 4)
Form ADVobserved 5 days ago
Occurred
Feb 4, 2022
Control person left
Claire Eileen Mcdonnell (Manager Of The Board) no longer on Schedule A of Penn Mutual Asset Management, Llc (listed 2021-03-31, absent 2022-02-04)
Form ADVobserved 5 days ago
Occurred
Mar 30, 2020
Control person left
Twine Susan Deakins (Director) no longer on Schedule A of Penn Mutual Asset Management, Llc (listed 2019-03-29, absent 2020-03-30)
Form ADVobserved 5 days ago
Occurred
Mar 29, 2019
Control person left
Marie Victoria Robinson (Chief Compliance Officer / Chief Operating Officer) no longer on Schedule A of Penn Mutual Asset Management, Llc (listed 2018-03-28, absent 2019-03-29)
Form ADVobserved 5 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:adb240c2-6bbd-35fc-1428-75800a18f821
First observed: Mar 29, 2012
Last observed: Apr 1, 2026 5 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

PENN MUTUAL ASSET MANAGEMENT, LLC

CRD 107518

CONSHOHOCKEN, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:adb240c2-6bbd-35fc-1428-75800a18f821

Data as of Apr 1, 2026 (this record's last observation) from federal regulator filings. Page built Sep 20, 2026, 11:17 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

Trevor M Williams

Chartered Financial Analyst

Horsham, PA

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES A

Hedge Fund

$135M

May 6, 2022

Jan 4, 2016

dropped

021-254554

PENN MUTUAL ASSET MANAGEMENT MULTI-SERIES FUND (MASTER), LLC - SERIES B

Other Private Fund

$68.6M

Dec 3, 2024

Sep 29, 2017

reported

021-290143

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

Huckerby, Keith, Gordon

CHIEF OPERATING OFFICER, MANAGER OF BOARD OF MANAGERS

yes

05/2014

Jun 27, 2014

Dec 3, 2024

O'MALLEY, DAVID, MICHAEL

CHAIRMAN OF THE BOARD OF MANAGERS

yes

06/2014

Mar 29, 2012

Dec 3, 2024

THE PENN MUTUAL LIFE INSURANCE COMPANY

Owner

yes

06/1989

Mar 29, 2012

Dec 3, 2024

GORDON, AARON, J

MANAGER OF BOARD OF MANAGERS

04/2024

Mar 29, 2024

Dec 3, 2024

HEPPENSTALL, MARK, EMORY

PRESIDENT & CIO, MANAGER OF BOARD OF MANAGERS

01/2022

Feb 4, 2022

Dec 3, 2024

RASZEJA, DAVID, MICHAEL

MANAGER OF BOARD OF MANAGERS

01/2022

Feb 4, 2022

Dec 3, 2024

Robinson, Victoria, Marie

CHIEF COMPLIANCE OFFICER, MANAGER OF BOARD OF MANAGERS

10/2021

Mar 29, 2012

Dec 3, 2024

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

HORNOR, TOWNSEND & KENT, LLC

n/a

Independent wealth

$9.0B

yes

n/a

1847 INSURANCE CAPTIVE, LLC

n/a

yes

n/a

PIA REINSURANCE COMPANY OF DELAWARE I

n/a

yes

n/a

THE PENN INSURANCE AND ANNUITY COMPANY

n/a

yes

n/a

THE PENN INSURANCE AND ANNUITY COMPANY OF NEW YORK

n/a

yes

n/a

THE PENN MUTUAL LIFE INSURANCE COMPANY

n/a

VANTIS LIFE INSURANCE COMPANY

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Apr 1, 2026

$42B

n/a

2024

Mar 28, 2025

$39B

n/a

2023

Mar 29, 2024

$34B

$68.6M

2022

Mar 31, 2023

$30B

$69.2M

2021

Mar 25, 2022

$35B

$209M

2020

Mar 31, 2021

$31B

$200M

2019

Mar 30, 2020

$29B

$213M

2018

Mar 29, 2019

$25B

$195M

2017

Mar 28, 2018

$25B

$194M

2016

Apr 1, 2017

$21B

n/a

$129M

2015

Mar 28, 2016

$20B

n/a

$101M

2014

Mar 23, 2015

$19B

n/a

2013

Mar 21, 2014

$7.8B

n/a

2012

Apr 1, 2013

$6.2B

n/a

2011

Mar 29, 2012

$5.2B

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$42B

$39B

8.1%

$30B

11.7%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

HORNOR, TOWNSEND & KENT, LLC

Sep 22, 2017

Dec 7, 2017

HORSHAM, PA

Team lift out

Other

0.5%