Lummis Asset Management provides portfolio management for individuals and small businesses and publishing newsletters.
Lummis Asset Management reports 43 clients. They include 29 high-net-worth individuals, 12 individual clients and 2 charitable organizations. Of its assets, 100.0% ($210M across 129 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 28% | 2% |
| High-net-worth individuals | 67% | 88% |
| Charitable organizations | 5% | 10% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 12 | $4.66M | 2.2% | $388K |
| High-net-worth individuals | 29 | $184M | 87.6% | $6.34M |
| Charitable organizations | Fewer than 5 | $21.4M | 10.2% | $10.7M |
| Total | 43 | $210M | 100% | — |
- Clients
- 12
- Regulatory AUM
- $4.66M
- AUM share
- 2.2%
- Avg. per client
- $388K
- Clients
- 29
- Regulatory AUM
- $184M
- AUM share
- 87.6%
- Avg. per client
- $6.34M
- Clients
- Fewer than 5
- Regulatory AUM
- $21.4M
- AUM share
- 10.2%
- Avg. per client
- $10.7M
Total
- Clients
- 43
- Regulatory AUM
- $210M
- 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
Lummis Asset Management is paid through a percentage of assets under management and hourly charges. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Investment planning (hourly)
- Investment planning services that are not part of portfolio management are billed at $175 per hour, due when billed.
Lamco Capital, LLC owns 75% or more of Lummis Asset Management and is in turn owned by Palmer Lummis (75% or more). The leadership team of Lummis Asset Management includes President Palmer Lummis. It has 1 employee.
Staff
- 1 employee
- 1 in advisory functions
- Owns 75% or more of Lummis Asset Management, L.P.
Lamco Capital, LLC
since September 1998
- Owns 75% or more of Lamco Capital, LLC
Palmer Lummis
Control person · since September 1998
Lummis Asset Management’s regulatory assets grew 1.7× from $124M (June 2021) to $210M (April 2026); clients fell from 78 to 43 and employees were 1 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $210M | 43 | 1 | 1 |
| Apr 2025April 2025 | $227M | 43 | 1 | 1 |
| Apr 2024April 2024 | $183M | 62 | 1 | 1 |
| Mar 2023March 2023 | $178M | 134 | 1 | 1 |
| Apr 2022April 2022 | $186M | 77 | 1 | 1 |
| Jun 2021June 2021 | $124M | 78 | 1 | 1 |
Besides its headquarters, Lummis Asset Management has 0 offices, with 1 listed address in 1 state.
Texas · 1 listed address
- 301 Commerce Street, Suite 1900, Fort WorthHQ
Contact and registration details
- Legal name
- Lummis Asset Management, L.P.
- Headquarters
- 301 Commerce Street, Suite 1900, Fort Worth, TX 76102
- Website
- lamcocapital.com
- Phone
- 817-348-0577
- SEC file
- 801-121447
- Structure
- Texas partnership
- Fiscal year end
- December
Lummis Asset Management’s named custodians for separately managed accounts are Charles Schwab ($128M, 61%) and Fifth Third Bank ($82.1M, 39%). Lummis Asset Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $128M61%
- Fifth Third BankFifth Third Bank · Cincinnati, OH · $82.1M39%
At year end, Lummis Asset Management’s separately managed accounts were mostly in stocks (68%) and funds (14%). Its reported 13F holdings for the quarter ended 30 June 2026 total $167M across 221 positions; the largest are Matador Resources Co (9.7%), Apple Computer Inc. (9.5%) and Microsoft Corp. (7.8%).
What the accounts hold
- Stocks68%
- Funds14%
- Bonds2%
- U.S. government and agency bonds1%
- State and local bonds1%
- Cash14%
Filed values cover 98%. The neutral 2% gap has no reported category.
How many clients does Lummis Asset Management have?
Lummis Asset Management has 43 clients and manages $210 million for them, as of April 2026. They include 29 high-net-worth individuals, 12 individual clients and 2 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 April 2026
What services does Lummis Asset Management offer?
Lummis Asset Management provides portfolio management for individuals and small businesses and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Lummis Asset Management use?
Lummis Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $128M and Fifth Third Bank (Cincinnati, OH), with $82.1M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 21 April 2026
How many financial advisors does Lummis Asset Management have?
Lummis Asset Management has 0 investment adviser representatives registered with state securities authorities, out of 1 employees, and 1 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Lummis Asset Management invest in?
At the end of its last fiscal year, Lummis Asset Management’s separately managed accounts held 68% exchange-traded equities, 14% registered funds (mutual funds, ETFs, BDCs), 14% cash and equivalents, 1% U.S. government and agency bonds and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Lummis Asset Management?
Lummis Asset Management is owned through a holding company by Palmer Lummis. Its direct owner is Lamco Capital, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 21 April 2026
How does Lummis Asset Management get paid?
Lummis Asset Management is paid through a percentage of assets under management and hourly charges. 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 Lummis Asset Management?
Lummis Asset Management’s main office is at 301 Commerce Street, Suite 1900, Fort Worth, TX 76102. Its phone number is 817-348-0577. Its website is lamcocapital.com.
