# Fuller & Thaler Asset Management Inc

> Fuller & Thaler Asset Management Inc is an SEC-registered investment advisory firm in San Mateo, CA, registered since 1993, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 107033
- Filed as: FULLER & THALER ASSET MANAGEMENT INC
- Also doing business as: FULLERTHALER
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Mateo, CA
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107033
- AdvisorCensus page: https://advisorcensus.com/firm/fuller-and-thaler-asset-management-inc-san-mateo-ca-107033

## Quick answers

**How is Fuller & Thaler Asset Management Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Fuller & Thaler Asset Management Inc reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Fuller & Thaler Asset Management Inc located?**
Fuller & Thaler Asset Management Inc's principal office is in San Mateo, CA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Fuller & Thaler Asset Management Inc registered with the SEC or a state?**
Fuller & Thaler Asset Management Inc is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 107033.

**How much does Fuller & Thaler Asset Management Inc manage?**
Fuller & Thaler Asset Management Inc reports $30,253,445,005 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Fuller & Thaler Asset Management Inc's assets and staff changed since 2021?**
In the Form ADV data for Fuller & Thaler Asset Management Inc: Regulatory assets under management: $11,076,110,488 in the October 2021 data and $30,253,445,005 in the October 2026 data, up 173%. Total employees: 20 in October 2021 and 30 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Fuller & Thaler Asset Management Inc serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (5,559); corporations or other businesses not listed above (235); high net worth individuals (197).

**Which custodians does Fuller & Thaler Asset Management Inc use?**
Fuller & Thaler Asset Management Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. LLC, Northern Trust Company and UBS Financial Services Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Fuller & Thaler Asset Management Inc report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107033

**What changed in Fuller & Thaler Asset Management Inc's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $27,112,656,097 to $30,253,445,005 (+12%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Morgan Stanley & Co. LLC
- Northern Trust Company
- UBS Financial Services Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $30,253,445,005
- Discretionary: $30,253,445,005
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 5,559 | $1,998,722,175 |
| High net worth individuals | 197 | $392,430,304 |
| Banking or thrift institutions | Fewer than 5 | $460,859 |
| Investment companies | 8 | $25,021,256,240 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $153,136,045 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 21 | $531,191,029 |
| Charitable organizations | 75 | $705,279,609 |
| State or municipal government entities (including government pension plans) | 9 | $519,876,310 |
| Other investment advisers | 0 | $0 |
| Insurance companies | Fewer than 5 | $3,551,390 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 235 | $453,737,303 |
| Other | 19 | $473,803,741 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1993 (33 years)
- Employees: 30 total, 11 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Chicago, IL

### Websites listed on Form ADV (Item 1.I)
- fullerthaler.com
- fullerthalerfunds.com
- Facebook @fullerthaler
- Instagram @fullerthaler
- LinkedIn @FULLERTHALER
- X @FullerThaler
- YouTube @fullerthaler

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $11,076,110,488 | 20 | March 22, 2021 |
| October 2022 | $17,584,077,100 | 20 | June 13, 2022 |
| October 2023 | $16,360,992,271 | 21 | March 27, 2023 |
| October 2024 | $20,397,025,075 | 27 | March 27, 2024 |
| October 2025 | $27,112,656,097 | 28 | March 27, 2025 |
| October 2026 | $30,253,445,005 | 30 | March 30, 2026 |

Regulatory assets under management: $11,076,110,488 in the October 2021 data and $30,253,445,005 in the October 2026 data, up 173%.
Total employees: 20 in October 2021 and 30 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $27,112,656,097 to $30,253,445,005 (+12%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Fuller & Thaler Asset Management Inc (CRD 107033): Form ADV filing data as of October 2026.