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Panagora Asset Management

SEC-registered adviser since 1989Boston, MACRD 105201

$44.1B
AUM
99
Clients
See fees
Fee
44
Advisory staff

From Form ADV filed 30 March 2026 · data retrieved 15 October 2026SEC record

Panagora Asset Management is an investment adviser headquartered in Boston, Massachusetts, and registered with the SEC since 1989. Its clients include sovereign wealth funds and foreign official institutions, pooled investment vehicles, and state or municipal government entities.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. Fee arrangements include a percentage of assets under management and performance-based fees. Panagora Holdings, Inc. owns 75% or more of Panagora Asset Management.

Clients

Panagora Asset Management serves 99 clients, 32 of them corporations and other businesses. The average client has about $446 million with the firm.

Regulatory assets by client type
  • Investment companies6 clients5%
  • Pooled investment vehicles18 clients17%
  • Pension and profit-sharing plans13 clients5%
  • State or municipal government entities11 clients11%
  • Sovereign wealth funds and foreign official institutions9 clients49%
  • OtherCorporations and other businesses, Other, Charitable organizations, Insurance companies13%
Show client breakdown
Investment companies
Clients
6
Regulatory AUM
$2,291,258,425
Share
5.2%
Avg. per client
$381.9M
Pooled investment vehicles
Clients
18
Regulatory AUM
$7,407,064,570
Share
16.8%
Avg. per client
$411.5M
Pension and profit-sharing plans
Clients
13
Regulatory AUM
$2,313,558,036
Share
5.2%
Avg. per client
$178.0M
Charitable organizations
Clients
3
Regulatory AUM
$225,955,085
Share
0.5%
Avg. per client
$75.3M
State or municipal government entities
Clients
11
Regulatory AUM
$5,060,292,780
Share
11.5%
Avg. per client
$460.0M
Insurance companies
Clients
1
Regulatory AUM
$78,496,206
Share
0.2%
Avg. per client
$78.5M
Sovereign wealth funds and foreign official institutions
Clients
9
Regulatory AUM
$21,489,684,160
Share
48.7%
Avg. per client
$2.39B
Corporations and other businesses
Clients
32
Regulatory AUM
$3,909,092,905
Share
8.9%
Avg. per client
$122.2M
Other
Clients
6
Regulatory AUM
$1,353,962,703
Share
3.1%
Avg. per client
$225.7M

Total

Clients
99
Regulatory AUM
$44,129,364,870
Share
100%
Avg. per client
$445.8M

What it does

Panagora Asset Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities. It is paid through a percentage of assets and performance-based fees.

Panagora Asset Management advises 9 private funds.

98.7% of assets ($43.55B across 95 accounts) are managed with discretion; $577.6M across 4 accounts are not. 35% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks100%

Custodians

Panagora Asset Management’s client accounts are held mainly at State Street Bank & Trust, with 54% of managed assets, and Bank of New York, with 12%. Panagora Asset Management has custody of $4.04B for 8 clients.

Managed account assets by custodian
  • Bank of New YorkBank of New York · New York, NY · $5.41B12%
  • State Street Bank & TrustState Street Bank & Trust Co · Boston, MA · $23.93B54%
  • Northern TrustNorthern Trust · Chicago, IL · $3.89B9%
  • All other custodians$10.90B25%

Ownership and leadership

Panagora Holdings, Inc. owns 75% or more of Panagora Asset Management.

Who owns the firm
Panagora Asset Management Inc· the adviser

  • Panagora Holdings, Inc.

    Control person · since December 2013

    Owns 75% or more of Panagora Asset Management Inc

  • Pafi, LLC

    Control person · since January 2024

    Owns 10% to 25% of Panagora Asset Management Inc

Leadership

  • Bryan Belton
    Director/ President & CEO
  • Paul Sutton
    Chief Financial Officer and Treasurer
  • Jason Ketchen
    Chief Operating Officer
  • Marc Volpe
    Chief Compliance Officer
  • Mark Anson
    Director
  • Andra Bolotin
    Director
  • Stephen Ferrara
    General Counsel
  • George Mussalli
    Director/ Global Chief Investment Officer
  • Robert Orr
    Director
  • Edward Qian
    Chief Investment Officer
  • Robert Reynolds
    Director
  • Eric Sorensen
    Director/ Vice Chair of Panagora
  • Margaret Wyrwas
    Director

Staff

  • 110 employees
  • 44 in advisory functions
  • 1 soliciting firm

Reported holdings

Panagora Asset Management’s reported 13F holdings total $32.60B across 1,163 positions, and the ten largest make up 33.0% of it.

$32.60B
Reported 13F value
1,163
Positions
33.0%
In the 10 largest
+22.1%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Nvidia Corp.6.9%
  2. Apple Inc.6.1%
  3. Microsoft Corp.3.8%
  4. Alphabet Inc.-cl A3.5%
  5. Amazon.com Inc.2.8%
  6. Broadcom Inc.2.4%
  7. Alphabet Inc.-cl C2.1%
  8. Micron Technology Inc.2.0%
  9. Advanced Micro Devices1.7%
  10. Meta Platforms Inc.-class A1.6%

Together, the ten largest are 33.0% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 6 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $32.60B is not its $44.13B in regulatory assets and does not represent any individual client's portfolio.

Fees

Panagora Asset Management is paid through a percentage of assets under management and performance-based fees.

Panagora Asset Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Panagora Asset Management has 0 offices, with 1 listed address in 1 state.

Listed office addresses by state

Massachusetts · 1 listed address

  • One International Place, 24th Floor, BostonHQ

Registration details

Legal name
Panagora Asset Management Inc
Headquarters
One International Place, 24th Floor, Boston, MA 02110
Phone
617-439-6300
Website
www.panagora.com
SEC file
801-35497
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 Panagora Asset Management have?

Panagora Asset Management has 99 clients and manages $44.1 billion for them, as of March 2026. They include 32 corporations and other businesses, 18 pooled investment vehicles and 13 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026

What services does Panagora Asset Management offer?

Panagora Asset Management provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and other activities.

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

Which custodians does Panagora Asset Management use?

Panagora Asset Management’s separately managed account assets are held at State Street Bank & Trust Co (Boston, MA), with $23,929,105,173, Bank of New York (New York, NY), with $5,412,990,734 and Northern Trust (Chicago, IL), with $3,890,769,712. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026

How many financial advisors does Panagora Asset Management have?

Panagora Asset Management has 0 investment adviser representatives registered with state securities authorities, out of 110 employees, and 44 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 Panagora Asset Management invest in?

At the end of its last fiscal year, Panagora Asset Management’s separately managed accounts held 100% exchange-traded equities. It advises 9 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 Panagora Asset Management?

Panagora Asset Management’s direct owners are Panagora Holdings, Inc. (75% or more) and Pafi, LLC (10% to 25%).

Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026

How does Panagora Asset Management get paid?

Panagora Asset Management 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

Sources

  1. Form ADV Part 1A, amendment filed 30 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 105201.
  3. Form 13F-HR, filed 6 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Panagora Asset Management Inc and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.