{
  "crd_number": 110441,
  "slug": "western-asset-management-company-pasadena-ca-110441",
  "primary_business_name": "WESTERN ASSET MANAGEMENT COMPANY",
  "legal_name": "WESTERN ASSET MANAGEMENT COMPANY, LLC",
  "dbas": [
    "WESTERN ASSET MANAGEMENT COMPANY LLC"
  ],
  "city": "Pasadena",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "31080",
  "metro": {
    "cbsa_code": "31080",
    "common_name": "Los Angeles",
    "msa_name": "Los Angeles-Long Beach-Anaheim, CA",
    "path": "/advisors/ca/los-angeles"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1971-12-17",
  "years_registered": 54,
  "period": "2026-10-01",
  "filing_date": "2026-09-16",
  "carried_forward": false,
  "raum_total": 184988342421.0,
  "raum_discretionary": 181382183532.0,
  "raum_non_discretionary": 3606158889.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 137,
  "advisory_employees": 82,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 5255909500.0,
      "count": 292
    },
    "individuals": {
      "raum": 7336146232.0,
      "count": 30187
    },
    "banking_thrift": {
      "raum": 1139275.0,
      "count": 2,
      "fewer_than_5": true
    },
    "state_municipal": {
      "raum": 11644840664.0,
      "count": 21
    },
    "insurance_companies": {
      "raum": 25488334450.0,
      "count": 20
    },
    "investment_companies": {
      "raum": 82053361725.0,
      "count": 57
    },
    "pension_profit_sharing": {
      "raum": 9860549302.0,
      "count": 451
    },
    "other_investment_advisers": {
      "raum": 2422148890.0,
      "count": 2,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 749586296.0,
      "count": 231
    },
    "pooled_investment_vehicles": {
      "raum": 27644021755.0,
      "count": 48
    },
    "corporations_other_businesses": {
      "raum": 5645923241.0,
      "count": 583
    },
    "sovereign_wealth_foreign_official": {
      "raum": 6886381091.0,
      "count": 3,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 3,
  "states_registered": [
    "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"
  ],
  "websites": [
    "https://facebook.com/westernasset",
    "https://linkedin.com/company/western-asset-management",
    "https://twitter.com/westernasset",
    "https://westernasset.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110441",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "PASADENA",
  "url": "https://advisorcensus.com/firm/western-asset-management-company-pasadena-ca-110441",
  "display_name": "Western Asset Management Company",
  "summary": "Western Asset Management Company is an SEC-registered investment advisory firm in Pasadena, CA, registered since 1971, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 16, 2026.",
  "citation": "AdvisorCensus. Western Asset Management Company (CRD 110441): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "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"
  ],
  "quick_answers": [
    {
      "q": "How is Western Asset Management Company compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Western Asset Management Company reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Western Asset Management Company located?",
      "a": "Western Asset Management Company's principal office is in Pasadena, CA, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Western Asset Management Company registered with the SEC or a state?",
      "a": "Western Asset Management Company is an SEC-registered investment advisory firm, registered since 1971. Status as filed: Approved. CRD 110441."
    },
    {
      "q": "How much does Western Asset Management Company manage?",
      "a": "Western Asset Management Company reports $184,988,342,421 in regulatory assets under management in its Form ADV filing dated September 16, 2026 (98% discretionary)."
    },
    {
      "q": "How have Western Asset Management Company's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Western Asset Management Company: Regulatory assets under management: $455,826,729,939 in the October 2021 data and $184,988,342,421 in the October 2026 data, down 59%. Total employees: 514 in October 2021 and 137 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Western Asset Management Company serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (30,187); corporations or other businesses not listed above (583); pension and profit sharing plans (but not the plan participants or government pension plans) (451)."
    },
    {
      "q": "Which custodians does Western Asset Management Company use?",
      "a": "Western Asset Management Company's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Western Asset Management Company report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110441"
    },
    {
      "q": "What changed in Western Asset Management Company's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 455826729939.0,
      "total_employees": 514,
      "filing_date": "2021-08-03"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 419507657699.0,
      "total_employees": 567,
      "filing_date": "2022-07-27"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 319983641290.0,
      "total_employees": 563,
      "filing_date": "2023-06-01"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 313817320287.0,
      "total_employees": 563,
      "filing_date": "2023-12-20"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 298749800684.0,
      "total_employees": 471,
      "filing_date": "2025-05-01"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 184988342421.0,
      "total_employees": 137,
      "filing_date": "2026-09-16"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Item 11 disclosure answers changed: 3 yes answers, previously 8 (now no: 11.A(2), 11.D(2), 11.D(4), 11.H(1)(b), 11.H(2)).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "Employees performing advisory functions went from 68 to 82.",
        "Regulatory assets under management went from $298,749,800,684 to $184,988,342,421 (-38%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Bank of New York",
      "name_as_filed": "BANK OF NEW YORK",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/western-asset-management-company-pasadena-ca-110441.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 30187,
      "fewer_than_5": false,
      "raum": 7336146232.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 231,
      "fewer_than_5": false,
      "raum": 749586296.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 2,
      "fewer_than_5": true,
      "raum": 1139275.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 57,
      "fewer_than_5": false,
      "raum": 82053361725.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 48,
      "fewer_than_5": false,
      "raum": 27644021755.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 451,
      "fewer_than_5": false,
      "raum": 9860549302.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 292,
      "fewer_than_5": false,
      "raum": 5255909500.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 21,
      "fewer_than_5": false,
      "raum": 11644840664.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 2,
      "fewer_than_5": true,
      "raum": 2422148890.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 20,
      "fewer_than_5": false,
      "raum": 25488334450.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 3,
      "fewer_than_5": true,
      "raum": 6886381091.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 583,
      "fewer_than_5": false,
      "raum": 5645923241.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110441",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}