Lummis Asset Management, L.P.
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client assets under management
$188,568,906
This total excludes 2 entity clients. Entities are clients such as corporations, partnerships, or trusts.
Clients
41
71% high-net-worth
Advisors
1
of 1 employees
Firm type
Supported
1-4 advisors or >$200M in AUM
Fewer clients per advisor generally means more personalized, proactive service. Higher ratios may reflect streamlined models or lower minimums.
Clients per advisor
41
TypicalAverage account size
$4,599,242
About
Lummis Asset Management, L.P. serves a mix of individual clients, high net‑worth individuals, charitable organizations, and corporate clients, providing discretionary portfolio management, investment advice, and written investment planning. The firm also provides review and buy/sell recommendations to a financial institution that manages third‑party client accounts.
The firm follows a long‑term, value‑oriented investment approach, seeking companies with pricing power, strong balance sheets, and attractive returns on capital while emphasizing tax sensitivity and low portfolio turnover. Portfolios are size‑agnostic and typically concentrated (generally 25–35 holdings), with bonds managed using a laddered approach (average maturities of about three to seven years), and clients receive quarterly holdings and performance reports.
Distinctive aspects include operating as a solo practitioner while managing roughly $210 million in discretionary assets, a high AUM‑per‑advisor profile that is uncommon among peers. The firm also circulates a quarterly market update newsletter to clients and interested parties and provides institutional review services to a banking institution, practices that differentiate it from many similarly categorized firms.
Client services
Portfolio management
Newsletters or periodicals
Expertise
Wealth management
Tax-loss harvesting
Retirement withdrawal strategies
Income planning
Fee options
$0 - $2,000,000: 1.00% on the portion of portfolio invested in equities and cash $2,000,001 - $4,000,000: 0.875% on the portion of portfolio invested in equities and cash $4,000,001 - $6,000,000: 0.75% on the portion of portfolio invested in equities and cash $6,000,001+: 0.50% on the remaining balance of the equity’s portfolio $0 - $2,000,000: 0.50% on the portion of portfolio invested in fixed income securities $2,000,001+: 0.375% on the remaining balance of the fixed income portfolio
$175 per hour for investment planning services not part of portfolio management
Account minimum: $1,000,000
Main office location
Lummis Asset Management, L.P.
301 Commerce Street, Suite 1900
Fort Worth TX 76102, United States
Number of offices
1
Most active in
Lummis Asset Management, L.P. has reported serving >5 clients in these states in the last 12 months.
Texas
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is not active or affiliated with:
-
Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
-
Trust company
They provide trust and estate administration services, typically for separate fees.
-
Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
-
Lawyer
They provide legal services, typically billed separately.
-
Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
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