Lummis Asset Management, L.P.
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$188,568,906
Clients
41
Advisors
2
of 2 employees
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
Expertise
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
301 Commerce Street, Suite 1380
Fort Worth TX 76102
Advisors at this office
2
Most active in
Texas
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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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.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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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.
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Lawyer
They provide legal services, typically billed separately.
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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.
Advisors at this firm
Palmer L
Fort Worth, TX
Lummis Asset Management, L.P.
Palmer Lummis is the sole advisor at Lummis Asset Management, L.P. in Fort Worth, Texas, with 23 years of industry experience. He has been associated with Lamco Capital, LLC and Lummis Asset Management since 1998. Outside of his advisory role, he manages a rural property leased for cattle grazing and holds partnerships related to oil and gas mineral interests and private equity investments. Lummis Asset Management, L.P. provides discretionary portfolio management and investment advice to individuals, charitable organizations, and corporations. The firm employs a long-term, value-oriented investment approach with low portfolio turnover and tax sensitivity, managing assets in excess of $220 million with a notably high assets-to-advisor ratio.
Michael W
Series 65, Series 63
Fort Worth, TX
Lummis Asset Management, L.P.
Michael Wimberley is a financial advisor at Lummis Asset Management, L.P. with 20 years of industry experience. He previously worked at Charles Schwab and Green Investment Management. He is also the Chief Operating Officer at Lone Oak Trust Company, a trust company based in Fort Worth, where he oversees the operations department. Lummis Asset Management serves individual clients, high net-worth individuals, charitable organizations, and corporate clients with discretionary portfolio management and investment planning. The firm employs a long-term, value-oriented investment approach, focusing on tax sensitivity and low turnover, and provides institutional review services to a financial institution managing third-party accounts.
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