40/86 Advisors, Inc.
- Regulatory AUM
- $30.5B
- Discretionary
- $30.5B
- Clients
- 13
- Avg AUM / client
- $2.3B
- Accounts
- 13
- Employees
- 84
AUM over time
Annual snapshots from Form ADV filings · as of Apr 22, 2026
Asset allocation (SMA assets by investment type)
as of Apr 22, 2026Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 3 | $299M | 0.98% |
| Insurance companies | 7 | $29.8B | 97.7% |
| Corporations and other businesses | 3 | $413M | 1.35% |
Private funds (4)
Reported in Form ADV Section 7.B.(1), filing of Apr 2024 · $882M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Bean Creek Clo Ltd | Securitized Asset Fund | Cayman Islands | $254M | 1 |
| Deer Creek Clo, Ltd | Securitized Asset Fund | Cayman Islands | $215M | 1 |
| Clear Creek Clo, Ltd | Securitized Asset Fund | Cayman Islands | $213M | 1 |
| Silver Creek Clo, Ltd. | Securitized Asset Fund | Cayman Islands | $201M | 2 |
People (6)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Johnson, Eric, Ronald | President, Cio & Director | Sep 2003 (23y) | Less than 5% | |
| Burke, Richard, William | Svp/Chief Information Officer | Jun 2004 (22y) | Less than 5% | |
| Horsfall, Jesse, Edward | Senior Vice President, Portfolio Management | Feb 2007 (20y) | Less than 5% | |
| De Haai, Zandra, Maria | Svp, Fixed Income Research | Apr 2019 (7y) | Less than 5% | |
| Mcdonough, Paul, Harrington | Director, Executive Vice President And Chief Financial Officer | Apr 2019 (7y) | Less than 5% | |
| Neuhoff, Tony, Alan | Chief Compliance Officer | Feb 2024 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Cno Financial Group, Inc. | Sole Shareholder | Dec 1987 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (4, $882M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Bean Creek Clo Ltd | Securitized Asset Fund | $254M | $100K | 1 |
| Deer Creek Clo, Ltd | Securitized Asset Fund | $215M | $500K | 1 |
| Clear Creek Clo, Ltd | Securitized Asset Fund | $213M | $250K | 1 |
| Silver Creek Clo, Ltd. | Securitized Asset Fund | $201M | $500K | 2 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 04/22/2026 | 2.43 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Northern Trust $24.3B (80% of AUM) Apr 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Apr 22, 2026.
View current Form ADV (SEC/IAPD) ↗