Northern Trust
$2.5T reported client assets across 524 advisory firms in FY2025 annual amendments
Reported client assets over time
$1.3T
$2.4T
2017
2025
Same-firm comparison: 457 firms that reported Northern Trust in both FY2024 and FY2025 annual amendments (ADV Item 5.K.(3)). Fiscal years come directly from the SEC filing-type table; filing dates are not used as a year-end proxy. 2017, 2018, 2019, 2020, 2021 are shown but partial — only FY2017: 213 cohort firms, FY2018: 257 cohort firms, FY2019: 279 cohort firms, FY2020: 313 cohort firms, FY2021: 352 cohort firms.
| Advisory firm | RAUM at custodian | Firm total AUM | Share | As of |
|---|---|---|---|---|
| Northern Trust Investments, Incorporated | $308B | $1.2T | 24.7% | 03/30/2026 |
| Blackrock Financial Management, Inc | $160B | $1.6T | 10.0% | 03/31/2026 |
| Pacific Investment Management Company Llc | $153B | $3.7T | 4.2% | 03/31/2026 |
| J.P. Morgan Investment Management Inc. | $104B | $3.5T | 3.0% | 03/31/2026 |
| Wellington Management Company Llp | $82.3B | $1.4T | 5.8% | 03/31/2026 |
| Nisa Investment Advisors, Llc | $81.3B | $344B | 23.6% | 03/26/2026 |
| Nepc, Llc | $47.5B | $153B | 31.1% | 03/27/2026 |
| Loomis, Sayles & Company, L.P. | $45.8B | $387B | 11.8% | 03/31/2026 |
| Goldman Sachs Asset Management International | $45.4B | $621B | 7.3% | 03/31/2026 |
| Dodge & Cox | $42.4B | $467B | 9.1% | 03/30/2026 |
| Mercer Investments Llc | $40.8B | $226B | 18.1% | 03/31/2026 |
| Rhumbline Advisers Ltd Partnership | $40.0B | $136B | 29.3% | 03/13/2026 |
| Macquarie Investment Management Global Limited | $38.6B | $160B | 24.1% | 06/26/2025 |
| Aon Investments Usa Inc. | $37.7B | $151B | 25.0% | 03/25/2026 |
| Canterbury Consulting Incorporated | $37.1B | $45.9B | 80.9% | 03/26/2026 |
| T. Rowe Price Associates, Inc. | $36.7B | $2.2T | 1.7% | 03/31/2026 |
| Mellon Investments Corporation | $30.6B | $874B | 3.5% | 03/31/2026 |
| Northern Trust Global Investments Ltd | $28.3B | $208B | 13.6% | 03/27/2026 |
| Income Research + Management | $27.6B | $131B | 21.1% | 03/30/2026 |
| Payden & Rygel | $27.2B | $158B | 17.2% | 03/31/2026 |
| Cornerstone Partners Capital Management, Llc | $26.7B | $29.3B | 91.1% | 03/30/2026 |
| Allspring Global Investments, Llc | $26.7B | $476B | 5.6% | 03/20/2026 |
| Arrowstreet Capital, Limited Partnership | $25.7B | $351B | 7.3% | 03/30/2026 |
| Jpmorgan Asset Management (Uk) Limited | $25.0B | $484B | 5.2% | 03/27/2026 |
| 40/86 Advisors, Inc. | $24.3B | $30.5B | 79.7% | 03/26/2026 |
| Ascension Investment Management, Llc | $23.6B | $40.8B | 57.9% | 09/26/2025 |
| Russell Investments Implementation Services, Llc | $22.3B | $81.1B | 27.5% | 03/31/2026 |
| First Sentier Investors (Australia) Im Ltd | $22.2B | $52.9B | 41.9% | 03/30/2026 |
| Insight North America Llc | $22.0B | $171B | 12.9% | 03/27/2026 |
| Legal & General Investment Management America Inc. | $21.9B | $267B | 8.2% | 03/31/2026 |
| Strategic Investment Management, Llc | $21.8B | $35.5B | 61.4% | 03/31/2026 |
| Neuberger Berman Investment Advisers Llc | $21.1B | $399B | 5.3% | 03/27/2026 |
| Doubleline Capital Lp | $18.1B | $93.3B | 19.4% | 03/31/2026 |
| Mfs Institutional Advisors Inc. | $17.8B | $114B | 15.7% | 03/31/2026 |
| Acadian Asset Management Llc | $16.9B | $177B | 9.5% | 03/26/2026 |
| Tiaa Cref Tuition Financing, Inc. | $15.2B | $70.5B | 21.6% | 03/12/2026 |
| Jennison Associates Llc | $15.1B | $215B | 7.0% | 03/30/2026 |
| Dws Investment Management Americas, Inc. | $14.8B | $200B | 7.4% | 03/31/2026 |
| Blackrock Asset Management North Asia Limited | $14.0B | $140B | 10.0% | 03/31/2026 |
| Walter Scott & Partners Limited | $13.7B | $66.7B | 20.5% | 03/30/2026 |
| Brown Brothers Harriman Credit Partners, Llc | $12.7B | $57.4B | 22.1% | 03/31/2026 |
| Hamilton Lane Advisors, L.L.C. | $12.2B | $138B | 8.8% | 06/27/2025 |
| Conning, Inc. | $11.0B | $107B | 10.3% | 03/30/2026 |
| Invesco Asset Management Ltd. | $10.8B | $188B | 5.7% | 03/31/2026 |
| Lsv Asset Management | $10.4B | $104B | 9.9% | 03/30/2026 |
| Fiam Llc | $10.0B | $348B | 2.9% | 03/30/2026 |
| Metropolitan West Asset Management Llc | $10.0B | $78.5B | 12.7% | 03/27/2026 |
| Mackay Shields Llc | $9.5B | $160B | 6.0% | 03/31/2026 |
| Ninety One Uk Limited | $9.4B | $108B | 8.7% | 06/27/2025 |
| William Blair Investment Management, Llc | $9.0B | $65.6B | 13.8% | 03/31/2026 |
| Longfellow Investment Management Co. Llc | $8.6B | $23.4B | 36.6% | 03/23/2026 |
| Ashmore Investment Management Ltd | $8.5B | $40.9B | 20.8% | 09/26/2025 |
| Baillie Gifford Overseas Ltd | $8.3B | $163B | 5.1% | 06/27/2025 |
| Garcia Hamilton & Associates Lp | $8.2B | $24.9B | 33.2% | 03/30/2026 |
| Nomura Investment Management Business Trust | $8.2B | $164B | 5.0% | 06/27/2025 |
| Schroder Investment Management North America Inc | $8.2B | $150B | 5.4% | 03/30/2026 |
| N | $7.8B | $19.4B | 40.0% | 03/20/2026 |
| Harding Loevner Lp | $7.7B | $32.1B | 24.1% | 03/27/2026 |
| Pgim Limited | $7.6B | $76.5B | 9.9% | 03/27/2026 |
| Allspring Global Investments (Uk) Limited | $7.4B | $30.8B | 24.1% | 03/20/2026 |
| Xponance Llc | $7.4B | $24.3B | 30.5% | 03/31/2026 |
| Bnp Paribas Asset Management Usa, Inc. | $7.2B | $48.4B | 14.9% | 03/30/2026 |
| Towers Watson Investment Services, Inc. | $6.8B | $62.7B | 10.8% | 03/31/2026 |
| Blackrock International Limited | $6.7B | $30.8B | 21.8% | 03/31/2026 |
| Brandywine Global Investment Management, Llc | $6.6B | $65.4B | 10.1% | 12/18/2025 |
| Earnest Partners Llc | $6.4B | $42.6B | 15.0% | 03/30/2026 |
| Blue Owl Real Estate Capital Llc | $6.3B | $67.9B | 9.3% | 03/31/2026 |
| Gqg Partners Llc | $6.3B | $164B | 3.9% | 03/30/2026 |
| Ares Management Llc | $6.3B | $459B | 1.4% | 03/27/2026 |
| Sit Fixed Income Advisors Ii, Llc | $6.3B | $15.0B | 42.0% | 03/20/2026 |
| Sands Capital Management, Llc | $6.3B | $44.3B | 14.2% | 03/30/2026 |
| Dimensional Fund Advisors Lp | $6.2B | $1.0T | 0.6% | 03/24/2026 |
| Comprehensive Financial Management Llc | $6.2B | $18.5B | 33.2% | 03/31/2026 |
| Eagle Capital Management Llc | $6.0B | $35.8B | 16.7% | 03/20/2026 |
| Capital International, Inc. | $6.0B | $51.9B | 11.5% | 09/26/2025 |
| Artisan Partners Limited Partnership | $5.8B | $184B | 3.1% | 03/31/2026 |
| J.P. Morgan Alternative Asset Management, Inc. | $5.7B | $29.7B | 19.2% | 03/27/2026 |
| Goldman Sachs Asset Management (Singapore) Pte. Ltd. | $5.7B | $13.8B | 41.3% | 03/31/2026 |
| Mondrian Investment Partners Limited | $5.5B | $49.3B | 11.2% | 03/26/2026 |
| Boston Partners Global Investors, Inc. | $5.3B | $116B | 4.6% | 03/17/2026 |
| Shepherd Kaplan Krochuk, Llc | $5.1B | $10.9B | 46.6% | 03/31/2026 |
| Shepherd Kaplan Llc | $5.1B | $10.2B | 50.0% | 03/31/2026 |
| Causeway Capital Management Llc | $5.0B | $62.2B | 8.1% | 03/23/2026 |
| Townsend Holdings Llc | $5.0B | $19.6B | 25.3% | 03/30/2026 |
| Neuberger Berman Europe Limited | $4.8B | $98.0B | 4.9% | 03/27/2026 |
| Barrow, Hanley, Mewhinney & Strauss, Llc | $4.7B | $59.0B | 8.0% | 03/26/2026 |
| Org Portfolio Management Llc | $4.7B | $6.4B | 73.2% | 03/30/2026 |
| Sage Advisory Services Ltd Co | $4.6B | $28.4B | 16.2% | 03/30/2026 |
| Voya Retirement Advisors, Llc | $4.4B | $37.5B | 11.7% | 03/06/2026 |
| American Century Investment Management Inc | $4.4B | $306B | 1.4% | 03/31/2026 |
| Victory Capital Management Inc. | $4.3B | $283B | 1.5% | 03/27/2026 |
| Aksia Llc | $4.1B | $35.2B | 11.8% | 03/31/2026 |
| Greycourt & Co., Inc. | $4.1B | $6.6B | 62.1% | 03/27/2026 |
| Primecap Management Co | $4.0B | $139B | 2.9% | 03/30/2026 |
| Merganser Capital Management, Llc | $4.0B | $17.7B | 22.8% | 03/30/2026 |
| Panagora Asset Management Inc | $3.9B | $44.1B | 8.8% | 03/30/2026 |
| Brandes Investment Partners, Lp | $3.9B | $40.6B | 9.5% | 03/25/2026 |
| Srb Corporation | $3.9B | $4.8B | 80.3% | 03/30/2026 |
| Fund Evaluation Group, Llc | $3.8B | $23.9B | 15.9% | 03/31/2026 |
| Granger Management Llc | $3.7B | $4.9B | 76.0% | 03/12/2026 |
From Form ADV Schedule D 5.K.(3): custodians named at the 10%-of-SMA-assets threshold, with reported dollar amounts. "Share" is reported amount as a share of the firm's total regulatory AUM.