# Penn Davis McFarland Inc

> Penn Davis McFarland Inc is an SEC-registered investment advisory firm in Dallas, TX, registered since 1977, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 12, 2026.

- CRD: 110417
- Filed as: PENN DAVIS MCFARLAND INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: March 12, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110417
- AdvisorCensus page: https://advisorcensus.com/firm/penn-davis-mcfarland-inc-dallas-tx-110417

## Quick answers

**How is Penn Davis McFarland Inc compensated?**
On its Form ADV (Item 5.E, October 2026), Penn Davis McFarland Inc reports these compensation arrangements: a percentage of assets under its management.

**How much does Penn Davis McFarland Inc charge?**
Its Form ADV Part 2A brochure dated March 12, 2026 states: Up to $1,000,000: 1.25% a year; $1,000,000 to $4,000,000: 1% a year; $4,000,000 to $10,000,000: 0.75% a year; Above $10,000,000: 0.5% a year; Subscription: $1,250 to $12,500 a quarter (non-advisory family office services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Penn Davis McFarland Inc located?**
Penn Davis McFarland Inc's principal office is in Dallas, TX, according to its Form ADV.

**Is Penn Davis McFarland Inc registered with the SEC or a state?**
Penn Davis McFarland Inc is an SEC-registered investment advisory firm, registered since 1977. Status as filed: Approved. CRD 110417.

**How much does Penn Davis McFarland Inc manage?**
Penn Davis McFarland Inc reports $1,364,461,821 in regulatory assets under management in its Form ADV filing dated March 12, 2026 (100% discretionary).

**How have Penn Davis McFarland Inc's assets and staff changed since 2021?**
In the Form ADV data for Penn Davis McFarland Inc: Regulatory assets under management: $596,397,559 in the October 2021 data and $1,364,461,821 in the October 2026 data, up 129%. Total employees: 8 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Penn Davis McFarland Inc serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (193); individuals (other than high net worth individuals) (18).

**Which custodians does Penn Davis McFarland Inc use?**
Penn Davis McFarland Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of America / Private Bank, Charles Schwab & Co. and Frost Bank as custodians holding 10% or more of its separately managed account assets.

**Does Penn Davis McFarland 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/110417

**What changed in Penn Davis McFarland Inc's recent Form ADV filings?**
In the April 2026 filing data: No longer lists an office in Deerfield Beach, FL.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 12, 2026)

- Up to $1,000,000: 1.25% a year
- $1,000,000 to $4,000,000: 1% a year
- $4,000,000 to $10,000,000: 0.75% a year
- Above $10,000,000: 0.5% a year

> One and one -quarter percent (1.25%) of the first $1,000,000 of assets under management;

> One percent (1.00%) of assets from $1,000,000 to $4,000,000;

> Three quarters of one percent (0.75%) of assets from $4,000,000 to $10,000,000;

> One-half of one percent (0.50%) on assets $10,000,000 and above.

- Subscription: $1,250 to $12,500 a quarter (non-advisory family office services)

> Our fees for non-advisory family office services are negotiated individually with clients and range from $1,250 to $12,500 a quarter depending on the amount of work performed.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Bank of America / Private Bank
- Charles Schwab & Co.
- Frost Bank

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: $1,364,461,821
- Discretionary: $1,358,978,463
- Non-discretionary: $5,483,358

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 18 | $4,801,463 |
| High net worth individuals | 193 | $1,308,970,370 |
| Banking or thrift institutions | Not reported | $0 |
| Investment companies | Not reported | $0 |
| Business development companies | Not reported | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | Not reported | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $20,326,343 |
| Charitable organizations | Fewer than 5 | $30,363,645 |
| State or municipal government entities (including government pension plans) | Not reported | $0 |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Not reported | $0 |
| Sovereign wealth funds and foreign official institutions | Not reported | $0 |
| Corporations or other businesses not listed above | Not reported | $0 |
| Other | Not reported | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1977 (49 years)
- Employees: 10 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, MT, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [pdavis.org](https://pdavis.org)
- LinkedIn @PENNDAVISMCFARLAND

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $596,397,559 | 8 | April 1, 2021 |
| October 2022 | $716,135,639 | 8 | April 22, 2022 |
| October 2023 | $698,132,126 | 8 | March 1, 2023 |
| October 2024 | $843,202,523 | 9 | March 5, 2024 |
| October 2025 | $1,261,852,927 | 11 | April 16, 2025 |
| October 2026 | $1,364,461,821 | 10 | March 12, 2026 |

Regulatory assets under management: $596,397,559 in the October 2021 data and $1,364,461,821 in the October 2026 data, up 129%.
Total employees: 8 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists an office in Deerfield Beach, FL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Penn Davis McFarland Inc (CRD 110417): Form ADV filing data as of October 2026.