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FIDUCIARY MANAGEMENT, INC.
CRD 109149File 801-15164
APPROVED
Retail clients
Filing as of Jun 9, 2026
Feed vintage Oct 1, 2026
Regulatory AUM
$11.36B
Top 10% of cohort (national)
Discretionary AUM
$11.36B
Clients
570
577 accounts
Employees
25
Top 10% of cohort in WI
Identity & registration
ADV Item 1- Organization form
- Corporation
- Firm type
- Registered
- SEC region
- CHRO
- Registration date
- Apr 18, 1980
- Principal office
- 790 N. WATER STREET, SUITE 2100, MILWAUKEE, WI, 53202
- Phone
- 414-226-4545
- Website
- https://www.fmimgt.com
Assets & accounts
ADV Item 5F- Total regulatory AUM
- $11.36B
- Discretionary AUM
- $11.36B
- Non-discretionary AUM
- $0
- Discretionary accounts
- 577
- Non-discretionary accounts
- 0
- Total accounts
- 577
- AUM per client
- $19.9M
Clients by type
ADV Item 5D| Client type | Clients | AUM |
|---|---|---|
| Other | 21 | $192.7M |
| Insurance companies | Fewer than 5 | $192.1M |
| Investment companies | 6 | $6.02B |
| Charitable organizations | 93 | $783.8M |
| High net worth individuals | 196 | $1.14B |
| Pooled investment vehicles | 5 | $810.1M |
| Pension and profit sharing plans | 35 | $1.15B |
| State or municipal government entities | 16 | $163.5M |
| Individuals (other than high net worth individuals) | 198 | $720.8M |
Compensation & activities
ADV Items 5E, 5GCompensation
- A percentage of assets under your management
Advisory activities
- Portfolio management for businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for individuals and/or small businesses
Custody
ADV Item 9- Firm Custody Cash
- No
- Firm Custody Assets
- No
- Firm Custody Clients
- No
- Firm Custody Securities
- No
- Related Person Custody Cash
- No
- Related Person Custody Assets
- No
- Related Person Custody Clients
- No
- Related Person Custody Securities
- No
Disclosure events
ADV Item 11This firm answered no to every Item 11 disclosure question in this filing.
Filed changes
| Date | Field | From | To | Change |
|---|---|---|---|---|
| Apr 1, 2026 | Employees | 24 | 25 | increased by1 |
| Apr 1, 2026 | Clients | 679 | 570 | decreased by109 |
| Apr 1, 2026 | AUM | $14,977,293,915 | $11,359,924,535 | decreased by$3,617,369,380 |
| Apr 1, 2026 | Accounts | 686 | 577 | decreased by109 |
| May 1, 2025 vs Oct 1, 2022 | Employees | 25 | 24 | decreased by1 |
| May 1, 2025 vs Oct 1, 2022 | Clients | 945 | 679 | decreased by266 |
| May 1, 2025 vs Oct 1, 2022 | AUM | $17,323,689,295 | $14,977,293,915 | decreased by$2,346,395,380 |
| May 1, 2025 vs Oct 1, 2022 | Accounts | 945 | 686 | decreased by259 |
| Apr 1, 2022 | Clients | 1,068 | 945 | decreased by123 |
| Apr 1, 2022 | AUM | $16,869,752,608 | $17,323,689,295 | increased by$453,936,687 |
| Apr 1, 2022 | Accounts | 1,068 | 945 | decreased by123 |
| Apr 1, 2021 | Registration | — | APPROVED |
On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.
See plans that list “FIDUCIARY MANAGEMENT” as a service provider on 5500mcp →Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“FIDUCIARY MANAGEMENT” may also match similarly-named firms). Confirm identity against each filing.
Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.