Clients
Pugh Capital Management serves 52 clients, 17 of them state or municipal government entities. The average client has about $247 million with the firm.
- Pooled investment vehicles2 clients2%
- Pension and profit-sharing plans13 clients20%
- Charitable organizations11 clients7%
- State or municipal government entities17 clients37%
- Other investment advisers2 clients2%
- OtherInsurance companies, Corporations and other businesses, Other32%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 2 | $277,129,194 | 2.2% | $138.6M |
| Pension and profit-sharing plans | 13 | $2,508,816,889 | 19.6% | $193.0M |
| Charitable organizations | 11 | $900,264,749 | 7.0% | $81.8M |
| State or municipal government entities | 17 | $4,776,023,524 | 37.2% | $280.9M |
| Other investment advisers | 2 | $307,407,585 | 2.4% | $153.7M |
| Insurance companies | 2 | $1,890,108,828 | 14.7% | $945.1M |
| Corporations and other businesses | 3 | $696,816,791 | 5.4% | $232.3M |
| Other | 2 | $1,465,373,620 | 11.4% | $732.7M |
| Total | 52 | $12,821,941,180 | 100% | $246.6M |
- Clients
- 2
- Regulatory AUM
- $277,129,194
- Share
- 2.2%
- Avg. per client
- $138.6M
- Clients
- 13
- Regulatory AUM
- $2,508,816,889
- Share
- 19.6%
- Avg. per client
- $193.0M
- Clients
- 11
- Regulatory AUM
- $900,264,749
- Share
- 7.0%
- Avg. per client
- $81.8M
- Clients
- 17
- Regulatory AUM
- $4,776,023,524
- Share
- 37.2%
- Avg. per client
- $280.9M
- Clients
- 2
- Regulatory AUM
- $307,407,585
- Share
- 2.4%
- Avg. per client
- $153.7M
- Clients
- 2
- Regulatory AUM
- $1,890,108,828
- Share
- 14.7%
- Avg. per client
- $945.1M
- Clients
- 3
- Regulatory AUM
- $696,816,791
- Share
- 5.4%
- Avg. per client
- $232.3M
- Clients
- 2
- Regulatory AUM
- $1,465,373,620
- Share
- 11.4%
- Avg. per client
- $732.7M
Total
- Clients
- 52
- Regulatory AUM
- $12,821,941,180
- Share
- 100%
- Avg. per client
- $246.6M
What it does
Pugh Capital Management provides portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Pugh Capital Management advises 1 private funds.
99.9% of assets ($12.81B across 79 accounts) are managed with discretion; $13.8M across 3 accounts are not. 2% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.
What the accounts hold
- Bonds74%
- U.S. government and agency bonds31%
- Investment grade corporate bonds29%
- High-yield corporate bonds14%
- Other24%
- All of the following are investment grade: agency mortgage-backed securities (mbs), asset-backed securities (abs), commercial mortgage-backed securities (cmbs), agency cmbs, non-agency collateralized mortgage obligations (cmo).24%
Filed values cover 98%. The neutral 2% gap has no reported category.
Custodians
Pugh Capital Management’s client accounts are held mainly at State Street Bank and Trust, with 39% of managed assets, and The Bank of New York Mellon, with 39%. Pugh Capital Management has custody of $33.2M for 1 clients.
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $5.01B39%
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $4.94B39%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $2.27B18%
- All other custodians$599.8M5%
Ownership and leadership
Mary Pugh owns 25% to 50% of Pugh Capital Management.
- Owns 25% to 50% of Pugh Capital Management, Inc.
Mary Pugh
Control person · since July 1991
- Owns 5% to 10% of Pugh Capital Management, Inc.
Ryan Cook
since April 2017
- Owns 5% to 10% of Pugh Capital Management, Inc.
Yuyan Lou
since April 2017
- Owns 5% to 10% of Pugh Capital Management, Inc.
Deanna Hobson
Control person · since January 2026
- Owns 5% to 10% of Pugh Capital Management, Inc.
Jean-David Larson
Control person · since February 2019
Leadership
- Jean-David LarsonPresident
- Gregory MoyeChief Compliance Officer
- Deanna HobsonCEO
- Mary PughChair
- Ryan CookShareholder
- Yuyan LouShareholder
Staff
- 39 employees
- 22 in advisory functions
- 4 state-registered reps
Fees
Pugh Capital Management is paid through a percentage of assets under management and performance-based fees.
Pugh Capital Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Pugh Capital Management has 0 offices, with 1 listed address in 1 state.
Washington · 1 listed address
- 1700 7th Avenue, Suite 1510, SeattleHQ
Registration details
- Legal name
- Pugh Capital Management, Inc.
- Headquarters
- 1700 7th Avenue, Suite 1510, Seattle, WA 98101
- Phone
- 206-322-4985
- Website
- www.pughcapital.com
- SEC file
- 801-39138
- Structure
- Washington 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 Pugh Capital Management have?
Pugh Capital Management has 52 clients and manages $12.8 billion for them, as of March 2026. They include 17 state or municipal government entities, 13 pension and profit-sharing plans and 11 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Pugh Capital Management offer?
Pugh Capital Management provides portfolio management for pooled vehicles 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 Pugh Capital Management use?
Pugh Capital Management’s separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $5,013,580,261, The Bank of New York Mellon (New York, NY), with $4,937,613,027 and The Northern Trust Company (Chicago, IL), with $2,270,948,602. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026
How many financial advisors does Pugh Capital Management have?
Pugh Capital Management has 4 investment adviser representatives registered with state securities authorities, out of 39 employees, and 22 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 Pugh Capital Management invest in?
At the end of its last fiscal year, Pugh Capital Management’s separately managed accounts held 31% U.S. government and agency bonds, 29% investment grade corporate bonds, 24% all of the following are investment grade: agency mortgage-backed securities (mbs), asset-backed securities (abs), commercial mortgage-backed securities (cmbs), agency cmbs, non-agency collateralized mortgage obligations (cmo). and 14% high-yield corporate bonds. It advises 1 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 Pugh Capital Management?
Pugh Capital Management’s direct owners are Mary Pugh, Ryan Cook, Yuyan Lou, Deanna Hobson and Jean-David Larson, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Pugh Capital Management get paid?
Pugh Capital 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