Parkway Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and pension consulting.
Parkway Advisors reports 58 clients. They include 44 insurance companies, 7 corporations and other businesses, and 3 pension and profit-sharing plans. Of its assets, 93.3% ($3.85B across 67 accounts) are managed with discretion; $275M across 3 accounts are not. It advised 11 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 3% | <1% |
| High-net-worth individuals | 2% | <1% |
| Investment companies | 2% | <1% |
| Pension and profit-sharing plans | 5% | 2% |
| Insurance companies | 76% | 95% |
| Other client typesCorporations and other businesses | 12% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $2.15K | 0.0% | $1.07K |
| High-net-worth individuals | Fewer than 5 | $3.67M | 0.1% | $3.67M |
| Investment companies | 1 | $17.8M | 0.4% | $17.8M |
| Pension and profit-sharing plans | Fewer than 5 | $81M | 2.0% | $27M |
| Insurance companies | 44 | $3.92B | 95.0% | $89.1M |
| Corporations and other businesses | 7 | $106M | 2.6% | $15.1M |
| Total | 58 | $4.13B | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $2.15K
- AUM share
- 0.0%
- Avg. per client
- $1.07K
- Clients
- Fewer than 5
- Regulatory AUM
- $3.67M
- AUM share
- 0.1%
- Avg. per client
- $3.67M
- Clients
- 1
- Regulatory AUM
- $17.8M
- AUM share
- 0.4%
- Avg. per client
- $17.8M
- Clients
- Fewer than 5
- Regulatory AUM
- $81M
- AUM share
- 2.0%
- Avg. per client
- $27M
- Clients
- 44
- Regulatory AUM
- $3.92B
- AUM share
- 95.0%
- Avg. per client
- $89.1M
- Clients
- 7
- Regulatory AUM
- $106M
- AUM share
- 2.6%
- Avg. per client
- $15.1M
Total
- Clients
- 58
- Regulatory AUM
- $4.13B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 11
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Parkway Advisors 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.
Parkway Advisors Holdings, Inc. owns 75% or more of Parkway Advisors. The leadership team of Parkway Advisors includes President Theron Holladay, Chief Operating Officer Lisa Davidson and Chief Compliance Officer Theron Holladay. It has 16 employees, 10 of them in advisory roles.
Leadership
- Theron HolladayCEO / President
- Lisa DavidsonChief Operating Officer
- Theron HolladayChief Compliance Officer
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Bryce A Bevill
- Nicholas Jon Chapman
- Lisa Lynn Davidson
- Theron R Holladay SR.
- Theron Robert Holladay Jr
- Hunter Mitchell Huberdeau
- Trevor Ray Rupe
- Phyo Wai Yan Win Swe
- Kyle David Timmermann
- Colton James Weems
Staff
- 16 employees
- 10 in advisory functions
- 10 state-registered reps
- Owns 75% or more of Parkway Advisors, L.P.
Parkway Advisors Holdings, Inc.
Control person · since April 2001
- Owns 75% or more of Parkway Advisors, L.P.
Directors Investment Group, Inc.
Control person · since April 2001
- Owns 25% to 50% of Directors Investment Group, Inc.
The Seale Family, L.P.
Control person · since July 1994
- Owns 25% to 50% of The Seale Family, L.P.
Billy Seale
since July 1994
- Owns 25% to 50% of The Seale Family, L.P.
Marsha Moore
since July 1994
Parkway Advisors’ regulatory assets grew from $3.82B (March 2021) to $4.13B (March 2026); clients rose from 45 to 58 and employees from 11 to 16.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $4.13B | 58 | 16 | 1 |
| March 2025 | $3.51B | 59 | 17 | 1 |
| March 2024 | $3.4B | 55 | 15 | 1 |
| March 2023 | $3.19B | 53 | 14 | 1 |
| March 2022 | $3.72B | 42 | 12 | 1 |
| March 2021 | $3.82B | 45 | 11 | 1 |
Besides its headquarters, Parkway Advisors has 0 offices, with 1 listed address in Texas.
Texas · 1 listed address
- 6550 Directors Parkway, AbileneHQ
Contact and registration details
- Legal name
- Parkway Advisors, L.P.
- Headquarters
- 6550 Directors Parkway, Abilene, TX 79606-5854
- Website
- parkwayadvisors.com
- Phone
- 325-795-2111
- SEC file
- 801-60265
- Structure
- Delaware limited partnership
- Fiscal year end
- December
Parkway Advisors uses Raymond James ($2.96B, 87%) and US Bank ($450M, 13%) as custodians for its separately managed accounts. Parkway Advisors does not have custody of client assets.
- Raymond JamesRaymond James & Associates, Inc. · Birmingham, AL · $2.96B87%
- US BankUS Bank · St Paul, MN · $450M13%
At year end, Parkway Advisors’ separately managed accounts were mostly in bonds (82%) and cash (12%).
What the accounts hold
- Stocks1%
- Funds3%
- Bonds82%
- Investment grade corporate bonds64%
- U.S. government and agency bonds11%
- State and local bonds6%
- High-yield corporate bonds1%
- Cash12%
Filed values cover 98%. The neutral 2% gap has no reported category.
How many clients does Parkway Advisors have?
Parkway Advisors has 58 clients and manages $4.13 billion for them, as of March 2026. They include 44 insurance companies, 7 corporations and other businesses, and 3 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 March 2026
What services does Parkway Advisors offer?
Parkway Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Parkway Advisors use?
Parkway Advisors’ separately managed account assets are held at Raymond James & Associates, Inc. (Birmingham, AL), with $2.96B and US Bank (St Paul, MN), with $450M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 March 2026
How many financial advisors does Parkway Advisors have?
Parkway Advisors has 10 investment adviser representatives registered with state securities authorities, out of 16 employees, and 10 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 Parkway Advisors invest in?
At the end of its last fiscal year, Parkway Advisors’ separately managed accounts held 64% investment grade corporate bonds, 12% cash and equivalents, 11% U.S. government and agency bonds, 6% state and local bonds, 3% registered funds (mutual funds, ETFs, BDCs), 1% exchange-traded equities and 1% high-yield corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Parkway Advisors?
Parkway Advisors is owned through a chain of holding companies by Billy Seale and Marsha Moore. Its direct owners are Parkway Advisors Holdings, Inc. (75% or more) and Directors Investment Group, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 13 March 2026
How does Parkway Advisors get paid?
Parkway Advisors 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 Parkway Advisors?
Parkway Advisors’ main office is at 6550 Directors Parkway, Abilene, TX 79606-5854. Its phone number is 325-795-2111. Its website is parkwayadvisors.com.