Cullinan Associates provides portfolio management for individuals and small businesses and portfolio management for institutions.
Cullinan Associates reports 632 clients. They include 306 individual clients, 293 high-net-worth individuals, and 19 corporations and other businesses. Of its assets, 100.0% ($1.48B across 632 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $1.25B.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 11% |
| High-net-worth individuals | 46% | 79% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | 2% | 3% |
| Corporations and other businesses | 3% | 6% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 306 | $163M | 11.0% | $534K |
| High-net-worth individuals | 293 | $1.17B | 79.1% | $4M |
| Pension and profit-sharing plans | Fewer than 5 | $6.84M | 0.5% | $2.28M |
| Charitable organizations | 11 | $50.7M | 3.4% | $4.61M |
| Corporations and other businesses | 19 | $88.2M | 6.0% | $4.64M |
| Total | 632 | $1.48B | 100% | — |
- Clients
- 306
- Regulatory AUM
- $163M
- AUM share
- 11.0%
- Avg. per client
- $534K
- Clients
- 293
- Regulatory AUM
- $1.17B
- AUM share
- 79.1%
- Avg. per client
- $4M
- Clients
- Fewer than 5
- Regulatory AUM
- $6.84M
- AUM share
- 0.5%
- Avg. per client
- $2.28M
- Clients
- 11
- Regulatory AUM
- $50.7M
- AUM share
- 3.4%
- Avg. per client
- $4.61M
- Clients
- 19
- Regulatory AUM
- $88.2M
- AUM share
- 6.0%
- Avg. per client
- $4.64M
Total
- Clients
- 632
- Regulatory AUM
- $1.48B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
Cullinan Associates is paid through a percentage of assets under management and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
Brian Cullinan owns 25% to 50% of Cullinan Associates. The leadership team of Cullinan Associates includes President Royden Cullinan and Chief Compliance Officer Brian Cullinan. It has 17 employees, 8 of them in advisory roles.
Staff
- 17 employees
- 8 in advisory functions
- 4 state-registered reps
- 2 broker-dealer reps
- Owns 25% to 50% of Cullinan Associates, Inc.
Brian Cullinan
Control person · since November 1989
- Owns 25% to 50% of Cullinan Associates, Inc.
Royden Cullinan
Control person · since November 1989
Cullinan Associates’ regulatory assets fell from $1.69B (March 2021) to $1.48B (March 2026); clients fell from 800 to 632 and employees were 17 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $1.48B | 632 | 17 | 1 |
| Mar 2025March 2025 | $1.59B | 750 | 18 | 1 |
| Mar 2024March 2024 | $1.85B | 943 | 18 | 1 |
| Mar 2023March 2023 | $1.86B | 942 | 17 | 1 |
| Jul 2022July 2022 | $2.03B | 894 | 16 | 1 |
| Mar 2021March 2021 | $1.69B | 800 | 17 | 1 |
Besides its headquarters, Cullinan Associates has 0 offices, with 1 listed address in 1 state.
Kentucky · 1 listed address
- 295 N. Hubbards Lane, Suite 203, LouisvilleHQ
Contact and registration details
- Legal name
- Cullinan Associates, Inc.
- Headquarters
- 295 N. Hubbards Lane, Suite 203, Louisville, KY 40207
- Website
- cullinan.com
- Phone
- 502-893-0300
- SEC file
- 801-35801
- Structure
- Kentucky corporation
- Fiscal year end
- December
Cullinan Associates’ named custodians for separately managed accounts are UBS Securities ($761M, 64%), LPL Financial ($225M, 19%) and Fidelity ($208M, 17%). Cullinan Associates has custody of $111M for 21 clients.
- FidelityNational Financial Services LLC · Boston, MA · $208M17%
- UBS SecuritiesUBS Securities LLC · Weehawken, NJ · $761M64%
- LPL FinancialLPL Financial LLC · Fort Mill, SC · $225M19%
At year end, Cullinan Associates’ separately managed accounts were mostly in stocks (94%). Its reported 13F holdings for the quarter ended 31 March 2026 total $1.24B across 207 positions; the largest are Apple Inc. (8.2%), Coca-cola Company (8.1%) and Microsoft Corp. (4.7%).
What the accounts hold
- Stocks94%
- Cash2%
- Other4%
- Derivatives4%
How many clients does Cullinan Associates have?
Cullinan Associates has 632 clients and manages $1.48 billion for them, as of March 2026. They include 306 individual clients, 293 high-net-worth individuals, and 19 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 4 March 2026
What services does Cullinan Associates offer?
Cullinan Associates provides portfolio management for individuals and small businesses and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Cullinan Associates use?
Cullinan Associates’ separately managed account assets are held at UBS Securities LLC (Weehawken, NJ), with $761M, LPL Financial LLC (Fort Mill, SC), with $225M and National Financial Services LLC (Boston, MA), with $208M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 4 March 2026
How many financial advisors does Cullinan Associates have?
Cullinan Associates has 4 investment adviser representatives registered with state securities authorities, out of 17 employees, and 8 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Cullinan Associates invest in?
At the end of its last fiscal year, Cullinan Associates’ separately managed accounts held 94% exchange-traded equities, 4% derivatives and 2% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cullinan Associates?
Cullinan Associates’ direct owners are Brian Cullinan and Royden Cullinan, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 4 March 2026
How does Cullinan Associates get paid?
Cullinan Associates is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Cullinan Associates?
Cullinan Associates’ main office is at 295 N. Hubbards Lane, Suite 203, Louisville, KY 40207. Its phone number is 502-893-0300. Its website is cullinan.com.