# Tocqueville Asset Management

Tocqueville Asset Management is a Multi Family Office based in New York, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 40 West 57th Street 19th Floor, New York, NY, United States
- **Founded:** 1985
- **Assets under management:** 9.7B (Altss estimate)
- **Website:** tocqueville.com
- **LinkedIn:** https://www.linkedin.com/company/tocqueville-asset-management/

## Regulatory record

- **CRD number:** 105690
- **SEC file number:** 801-36209
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/105690

## About

Tocqueville Asset Management traces its start to 1985 when Robert W. Kleinschmidt and colleagues left Tucker, Anthony & R.L. Day. The partners seeded the firm with their own capital and structured it to serve families while maintaining aligned incentives. The firm allocates across public equities, hedge fund strategies, private equity, real estate and natural resources. It runs direct co-investments through SPVs and opportunity zone vehicles. Confirmed holdings include positions in Corvus Gold and the Veterans Victory multifamily project in Colorado Springs. Geographic reach covers North America, Europe, Asia, South America and Oceania. The team numbers 103 professionals. Additional vehicles include The Tocqueville Foundation and a donor-advised fund program. In February 2025 the firm absorbed the advisory team and $1.3 billion in assets from Poplar Forest Capital. The acquisition expanded research capacity in value equities. Tocqueville maintains an employee-owned structure that ties principal capital directly to client portfolios. This alignment shapes mandate selection and holding periods that often exceed five years.

## Sectors

- Value Investing
- Private Wealth Management
- Natural Resources
- Real Estate

## People

- Robert W. Kleinschmidt — CEO and CIO
- John Hathaway — Senior Portfolio Manager

## Questions

### Who runs investment decisions at Tocqueville Asset Management?

Robert W. Kleinschmidt serves as CEO and CIO. John Hathaway leads the gold and precious metals strategy. Decisions follow a bottom-up value process with principals committing their own capital.

### How does Tocqueville Asset Management source proprietary deal flow?

The firm draws on long-standing relationships in mining, real estate and private equity. It also participates in opportunity zone projects through partnerships such as CapZone Impact Investments.

### Does Tocqueville Asset Management participate in fund commitments or only direct deals?

The firm executes both fund commitments and direct co-investments. It maintains SPVs for real estate and private equity alongside allocations to external managers.

### What investment stages does Tocqueville Asset Management typically target?

The firm focuses on public equities, growth equity and venture opportunities. It also holds commodities and infrastructure assets with horizons of five to ten years.

### What is Tocqueville Asset Management's known posture on co-investments alongside external GPs?

The firm pursues direct co-investments in mining, real estate and operating businesses. Recent examples include positions in Corvus Gold and Nickel Creek Platinum.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/tocqueville-asset-management

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