Muzinich &: AUM & Ownership

Clients

Muzinich & serves 77 clients, 42 of them pooled investment vehicles. The average client has about $406 million with the firm.

Regulatory assets by client type

Investment companies6 clients6%
Pooled investment vehicles42 clients76%
Pension and profit-sharing plans9 clients5%
Charitable organizations3%
Insurance companies20 clients9%
OtherHigh-net-worth individuals, Banking or thrift institutions1%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
High-net-worth individuals	Not reported	$175,309,284	0.6%	—
Banking or thrift institutions	Not reported	$215,271,544	0.7%	—
Investment companies	6	$1,913,051,826	6.1%	$318.8M
Pooled investment vehicles	42	$23,794,750,225	76.1%	$566.5M
Pension and profit-sharing plans	9	$1,466,157,233	4.7%	$162.9M
Charitable organizations	Not reported	$1,019,803,941	3.3%	—
Insurance companies	20	$2,687,974,585	8.6%	$134.4M
Total	77	$31,272,318,638	100%	$406.1M

High-net-worth individuals

Clients: Not reported
Regulatory AUM: $175,309,284
Share: 0.6%
Avg. per client: —

Banking or thrift institutions

Clients: Not reported
Regulatory AUM: $215,271,544
Share: 0.7%
Avg. per client: —

Investment companies

Clients: 6
Regulatory AUM: $1,913,051,826
Share: 6.1%
Avg. per client: $318.8M

Pooled investment vehicles

Clients: 42
Regulatory AUM: $23,794,750,225
Share: 76.1%
Avg. per client: $566.5M

Pension and profit-sharing plans

Clients: 9
Regulatory AUM: $1,466,157,233
Share: 4.7%
Avg. per client: $162.9M

Charitable organizations

Clients: Not reported
Regulatory AUM: $1,019,803,941
Share: 3.3%
Avg. per client: —

Insurance companies

Clients: 20
Regulatory AUM: $2,687,974,585
Share: 8.6%
Avg. per client: $134.4M

Total

Clients: 77
Regulatory AUM: $31,272,318,638
Share: 100%
Avg. per client: $406.1M

What it does

Muzinich & provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.

Muzinich & advises 2 private funds.

100.0% of assets ($31.27B across 85 accounts) are managed with discretion. 69% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Bonds91%
- High-yield corporate bonds58%
- Investment grade corporate bonds27%
- Sovereign bonds6%
Cash3%
Other6%
- Loans4%
- Derivatives2%

Custodians

Muzinich &’s client accounts are held mainly at HSBC Securities Services, with 4% of managed assets, and Zurcher Kantonalbank, with 2%. Muzinich & has custody of client assets.

Managed account assets by custodian

HSBC Securities ServicesHSBC Securities Services · Dusseldorf · $1.30B4%
Zurcher KantonalbankZurcher Kantonalbank · Zurich · $748.0M2%
All other custodians$29.22B93%

Ownership and leadership

George Muzinich owns 75% or more of Muzinich &, and Justin Muzinich is its CEO.

Who owns the firm

Muzinich & Co., Inc.· the adviser

George Muzinich
Control person · since July 1988
Owns 75% or more of Muzinich & Co., Inc.
2008 Muzinich Family Trust
since December 2008
Owns 10% to 25% of Muzinich & Co., Inc.
- Alan Halperin
  Trustee · since May 2017
Muzinich 2011 GST Exempt Family Trust
since April 2011
Owns 10% to 25% of Muzinich & Co., Inc.
GM Trust G
since August 2021
Owns 10% to 25% of Muzinich & Co., Inc.
- Nancy Stanger
  Trustee · since June 2021
GM Trust A
since August 2021
Owns 10% to 25% of Muzinich & Co., Inc.
- Justin Muzinich
  Trustee · Control person · since March 2021

Leadership

Justin Muzinich
Chief Executive Officer & Director
Michael Ludwig
Chief Financial Officer & Director
Paul Fehre
Chief Operating Officer & Director
William Edwards
Chief Compliance Officer
Annmarie Baker
Director
George Muzinich
Executive Chairman, Director & Shareholder
Cheryl Rivkin
Chief Administrative Officer & Director
Fenton Tom
Head of Strategy and Human Capital & Director

Staff

110 employees
67 in advisory functions
25 broker-dealer reps
2 soliciting firms

Reported holdings

Muzinich &’s reported 13F holdings total $292.7M across 38 positions, and the ten largest make up 76.0% of it.

$292.7M
Reported 13F value: 38
Positions: 76.0%
In the 10 largest: —
Value vs. prior quarter

Ten largest positions, share of reported value

Ares Capital Corp.14.2%
Blackstone Secd Lending FD9.7%
Blue Owl Capital Corporation9.1%
Golub Cap Bdc Inc.9.0%
Main Str Cap Corp.8.8%
Hercules Capital Inc.7.3%
Sixth Street Specialty Lendi6.3%
Morgan Stanley Direct Lendin · Com Shs4.3%
Bain Cap Specialty Fin Inc. · Com Stk3.6%
Capital Southwest Corp.3.5%

Together, the ten largest are 76.0% of reported value.

The 38 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 27 July 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $292.7M is not its $31.27B in regulatory assets and does not represent any individual client's portfolio.

Fees

Muzinich & is paid through a percentage of assets under management and performance-based fees.

Brochure fee details have not yet been processed for this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Muzinich & has 1 office, with 2 listed addresses across 2 states.

Listed office addresses by state

New York · 1 listed address

450 Park Ave, New YorkHQ

Registration details

Legal name: Muzinich & Co., Inc.
Headquarters: 450 Park Ave, New York, NY 10022-2692
Phone: 212-888-3413
Website: www.muzinich.com
SEC file: 801-39604
Structure: Delaware corporation
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Muzinich & have?

Muzinich & has 77 clients and manages $31.3 billion for them, as of June 2026. They include 42 pooled investment vehicles, 20 insurance companies and 9 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 16 June 2026

What services does Muzinich & offer?

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Muzinich & use?

Muzinich &’s separately managed account assets are held at HSBC Securities Services (Dusseldorf), with $1,303,079,001 and Zurcher Kantonalbank (Zurich), with $748,007,989. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 16 June 2026

How many financial advisors does Muzinich & have?

Muzinich & has 0 investment adviser representatives registered with state securities authorities, out of 110 employees, and 67 perform investment advisory functions. 25 are registered representatives of a broker-dealer and 0 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 Muzinich & invest in?

At the end of its last fiscal year, Muzinich &’s separately managed accounts held 58% high-yield corporate bonds, 27% investment grade corporate bonds, 6% sovereign bonds, 4% loans, 3% cash and equivalents and 2% derivatives. It advises 2 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Muzinich &?

Muzinich &’s direct owners are George Muzinich (75% or more), 2008 Muzinich Family Trust (10% to 25%), Muzinich 2011 GST Exempt Family Trust (10% to 25%), GM Trust G (10% to 25%) and GM Trust A (10% to 25%).

Source: Form ADV Part 1A, Schedules A and B, filed 16 June 2026

How does Muzinich & get paid?

Muzinich & is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file