Asset manager · Carmel, IN
40/86 Advisors, Inc.
SEC-registered investment adviser · CRD 107740 · SEC 801-17857
At a glance
40/86 Advisors, Inc. is an SEC-registered investment adviser based in Carmel, Indiana, with $30.5 billion in regulatory assets under management as of its Form ADV filed April 22, 2026. Its largest client group by assets is insurance companies. By Form ADV it is a asset manager, ranked 289th of 3,218 asset managers and 642nd of 17,210 SEC-registered advisers by assets.
Main office 317-817-40864086.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $30B
- Rank among asset managers
- #289 of 3,218
- Rank among all SEC RIAs
- #642 of 17,210
- Rank in Indiana
- #1 of 146
- Clients
- 13
- Accounts
- 13
- Discretionary
- 100% of AUM
- Employees
- 84
- Advisory staff
- 84
- Offices
- 1
Owners and executives on its Form ADV
- Eric R. JohnsonDirector, President and Chief Investment Officer
- Richard W. BurkeSenior Vice President, Chief Information Officer
- Jesse E. HorsfallSenior Vice President, Portfolio Management
- Paul H. McDonoughDirector, Executive Vice President and Chief Financial Officer
- Zandra M. De HaaiSenior Vice President, Fixed Income Research
- Tony A. NeuhoffVice President, Deputy General Counsel and Chief Compliance Officer
Custody and brokerage
Broker-dealer
Affiliated broker-dealer
It names an affiliated broker-dealer: Bankers Life Securities, Inc..
- Bankers Life Securities, Inc. ↗CRD 173962
An introducing broker-dealer: its trades clear through another firm, which holds the brokerage accounts. Its annual audited report filed with the SEC, February 2026
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Insurance companies | 7 | $30B | 98% |
| Corporations or other businesses | 3 | $413M | 1% |
| Pooled investment vehicles | 3 | $299M | <1% |
Private funds
40/86 Advisors, Inc. reports 3 private funds with $299M in gross assets: securitized asset funds (Form ADV Item 7.B).
Disciplinary disclosures
40/86 Advisors, Inc. reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗4086.com ↗
AtlasMembers
The full record on 40/86 Advisors, Inc.
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 369 peers of its type and size
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- Owners and executives, with titles and stakes
- 6 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does 40/86 Advisors, Inc. manage?
40/86 Advisors, Inc. reports $30.5 billion in regulatory assets under management across 13 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 22, 2026.
What kind of firm is 40/86 Advisors, Inc.?
40/86 Advisors, Inc. is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals. A public reporting company controls it.
Who are 40/86 Advisors, Inc.’s clients?
By assets, its largest client types are insurance companies ($29.8 billion, 7 clients); corporations or other businesses ($413 million, 3 clients); pooled investment vehicles ($299 million, 3 clients).
Does 40/86 Advisors, Inc. manage private funds?
Yes. It reports 3 private funds with $299 million in gross assets, including securitized asset funds.
Does 40/86 Advisors, Inc. have any disciplinary history?
40/86 Advisors, Inc. reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is 40/86 Advisors, Inc.’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-22), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →