Asset manager · Chicago, IL
LSV Asset Management
SEC-registered investment adviser · CRD 109918 · SEC 801-47689
At a glance
LSV Asset Management is an SEC-registered investment adviser based in Chicago, Illinois, with $104.2 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is state or municipal government entities. By Form ADV it is a asset manager, ranked 133rd of 3,218 asset managers and 255th of 17,210 SEC-registered advisers by assets.
Main office 312-460-2443lsvasset.comAs filed on Form ADV
- Regulatory AUM
- $104B
- Rank among asset managers
- #133 of 3,218
- Rank among all SEC RIAs
- #255 of 17,210
- Rank in Illinois
- #16 of 684
- Clients
- 216
- Accounts
- 216
- Discretionary
- 100% of AUM
- Employees
- 45
- Advisory staff
- 15
- Offices
- 1
Owners and executives on its Form ADV
- Josef N. LakonishokCEO, CIO
- Kevin T. PhelanChief Operating Officer
- Joshua P. O'DonnellChief Compliance Officer
- Balakumar RagothamanChief Technology Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
LSV Asset Management is a hybrid RIA: 6 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: SEI Investments Distribution Co..
- SEI Investments Distribution Co. ↗CRD 10690
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
Its Form ADV brochure (filed March 2026) names Foreside Fund Services, an unaffiliated broker-dealer, as the broker-dealer its advisers are registered with.
In connection with the sale of the LSV Funds, certain LSV employees are registered representatives of Foreside Fund Services, LLC, an unaffiliated, third-party broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| State or municipal government entities | 37 | $30B | 29% |
| Pooled investment vehicles | 44 | $25B | 24% |
| Investment companies | 10 | $16B | 15% |
| Sovereign wealth funds and foreign official institutions | 11 | $11B | 11% |
| Corporations or other businesses | 46 | $9.4B | 9% |
| Charitable organizations | 27 | $8.0B | 8% |
| Pension and profit sharing plans | 41 | $5.3B | 5% |
Private funds
LSV Asset Management reports 21 private funds with $7.5B in gross assets: hedge funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
LSV Asset Management reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Other services
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗lsvasset.com ↗
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The full record on LSV Asset Management
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 217 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does LSV Asset Management manage?
LSV Asset Management reports $104.2 billion in regulatory assets under management across 216 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
What kind of firm is LSV Asset Management?
LSV Asset Management 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 LSV Asset Management’s clients?
By assets, its largest client types are state or municipal government entities ($30.5 billion, 37 clients); pooled investment vehicles ($24.5 billion, 44 clients); investment companies ($15.5 billion, 10 clients).
Does LSV Asset Management manage private funds?
Yes. It reports 21 private funds with $7.5 billion in gross assets, including hedge funds, other private funds.
Does LSV Asset Management have any disciplinary history?
LSV Asset Management 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 LSV Asset Management’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 (2026-03-30), 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 →