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Thrivent Financial for Lutherans

SEC-registered adviser since 2001Minneapolis, MNCRD 115785

$128.7B
AUM
34
Clients
See fees
Fee
155
Advisory staff

From Form ADV filed 17 June 2026 · data retrieved 15 October 2026SEC record

Thrivent Financial for Lutherans is an investment adviser headquartered in Minneapolis, Minnesota, and registered with the SEC since 2001. Its clients include other clients, investment companies, and pension and profit-sharing plans.

Its services include portfolio management for individuals and small businesses, 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. Teresa Rasmussen is CEO of Thrivent Financial for Lutherans.

Clients

Thrivent Financial for Lutherans serves 34 clients, 31 of them investment companies. The average client has about $3.79 billion with the firm.

Regulatory assets by client type
  • Investment companies31 clients35%
  • Other1 clients64%
  • OtherPooled investment vehicles, Pension and profit-sharing plans1%
Show client breakdown
Investment companies
Clients
31
Regulatory AUM
$45,595,534,315
Share
35.4%
Avg. per client
$1.47B
Pooled investment vehicles
Clients
1
Regulatory AUM
$111,185,162
Share
0.1%
Avg. per client
$111.2M
Pension and profit-sharing plans
Clients
1
Regulatory AUM
$1,240,145,182
Share
1.0%
Avg. per client
$1.24B
Other
Clients
1
Regulatory AUM
$81,781,563,053
Share
63.5%
Avg. per client
$81.78B

Total

Clients
34
Regulatory AUM
$128,728,427,712
Share
100%
Avg. per client
$3.79B

What it does

Thrivent Financial for Lutherans 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.

Thrivent Financial for Lutherans advises 1 private funds.

100.0% of assets ($128.73B across 34 accounts) are managed with discretion. 0% 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
  • Stocks3%
    • Exchange-traded equities2%
    • Non-exchange-traded equities1%
  • Funds14%
    • Pooled vehicles13%
    • Registered funds1%
  • Bonds64%
    • Investment grade corporate bonds52%
    • U.S. government and agency bonds6%
    • High-yield corporate bonds6%
  • Cash2%
  • Other16%
    • Mortgage loans, real estate, contract loans, receivables for securities.15%
    • Derivatives1%

Filed values cover 99%. The neutral 1% gap has no reported category.

Custodians

Thrivent Financial for Lutherans’ client accounts are held mainly at State Street Bank and Trust, with 56% of managed assets. Thrivent Financial for Lutherans has custody of $104.8M for 1 clients.

Managed account assets by custodian
  • State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $71.65B56%
  • All other custodians$57.08B44%

Ownership and leadership

Teresa Rasmussen is CEO of Thrivent Financial for Lutherans.

Leadership

  • Teresa Rasmussen
    Director, President and Chief Executive Officer
  • Edward Dryden
    Vice President, Chief Compliance Officer
  • Paul Johnston
    Executive Vice President, Chief Legal Officer, General Counsel and Secretary
  • David Royal
    Executive Vice President, Chief Financial & Investment Officer
  • Brett Brunick
    Chief Operating Officer
  • Deborah Ackerman
    Director
  • Nathaniel Boggs
    Director
  • Kenneth Carow
    Director
  • Bradford Creswell
    Director
  • Lynn Crump-Caine
    Director, Chair
  • Eric Draut
    Director
  • Jill Louis
    Director
  • Kathryn Marinello
    Director
  • Brian McGrane
    Director
  • Nichole Pechet
    Director
  • John Rademacher
    Director
  • Angela Rieger
    Director

Staff

  • 4,220 employees
  • 155 in advisory functions
  • 339 state-registered reps
  • 503 broker-dealer reps
  • 231 insurance agents

Reported holdings

Thrivent Financial for Lutherans’ reported 13F holdings total $59.5M across 2,589 positions, and the ten largest make up 19.1% of it.

$59.5M
Reported 13F value
2,589
Positions
19.1%
In the 10 largest
+13.4%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Nvidia Corporation3.3%
  2. Amazon Com Inc.2.6%
  3. Apple Inc.2.3%
  4. Microsoft Corp.2.2%
  5. Alphabet Inc. · Cap Stk CL C1.8%
  6. Alphabet Inc. · Cap Stk CL A1.7%
  7. Thrivent ETF Trust · Intl Large Cap1.4%
  8. Broadcom Inc.1.3%
  9. Meta Platforms Inc. · CL A1.3%
  10. iShares TR · Core S&P500 ETF1.2%

Together, the ten largest are 19.1% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $59.5M is not its $128.73B in regulatory assets and does not represent any individual client's portfolio.

Fees

Thrivent Financial for Lutherans is paid through a percentage of assets under management and performance-based fees.

Thrivent Financial for Lutherans’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Thrivent Financial for Lutherans has 1 office, with 2 listed addresses across 2 states.

Listed office addresses by state

Minnesota · 1 listed address

  • 901 Marquette Avenue, Suite 2500, MinneapolisHQ

Other business names

Thrivent Financial for Lutherans has reported 2 other business names to the SEC.

  • Thrivent
  • Thrivent Financial

Registration details

Legal name
Thrivent Financial for Lutherans
Headquarters
901 Marquette Avenue, Suite 2500, Minneapolis, MN 55402-3211
Phone
800-847-4836
Website
www.thrivent.com
SEC file
801-60701
Structure
Wisconsin other (specify)
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 Thrivent Financial for Lutherans have?

Thrivent Financial for Lutherans has 34 clients and manages $128.7 billion for them, as of June 2026. They include 31 investment companies, 1 pooled investment vehicles and 1 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 June 2026

What services does Thrivent Financial for Lutherans offer?

Thrivent Financial for Lutherans provides portfolio management for individuals and small businesses, portfolio management for investment companies, 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 Thrivent Financial for Lutherans use?

Thrivent Financial for Lutherans’ separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $71,651,770,895. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 June 2026

How many financial advisors does Thrivent Financial for Lutherans have?

Thrivent Financial for Lutherans has 339 investment adviser representatives registered with state securities authorities, out of 4,220 employees, and 155 perform investment advisory functions. 503 are registered representatives of a broker-dealer and 231 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 Thrivent Financial for Lutherans invest in?

At the end of its last fiscal year, Thrivent Financial for Lutherans’ separately managed accounts held 52% investment grade corporate bonds, 15% mortgage loans, real estate, contract loans, receivables for securities., 13% pooled vehicles (private funds and similar), 6% U.S. government and agency bonds, 6% high-yield corporate bonds, 2% exchange-traded equities, 2% cash and equivalents, 1% non-exchange-traded equities, 1% derivatives and 1% registered funds (mutual funds, ETFs, BDCs). 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

How does Thrivent Financial for Lutherans get paid?

Thrivent Financial for Lutherans 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 17 June 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 115785.
  3. Form 13F-HR, filed 14 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 Thrivent Financial for Lutherans 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.