Largest U.S. Mutual Fund Families As of December 31, 2020*

 

Firm	AUM 12/31/20	AUM 6/30/20	Ownership
Vanguard	$4,640 billion	$4,030 billion	Independent. Owned by Vanguard funds.
Fidelity	$2,060 billion	$1,760 billion	Independent. Employee-owned.
American Funds	$2,030 billion	$1,710 billion	Independent. Employee-owned by Capital Group.
T. Rowe Price	$774 billion	$649 billion	Independent. Publicly traded.
Franklin Templeton	$482 billion	$308 billion	Independent. Publicly traded.
Dimensional Fund Advisors	$432 billion	$375 billion	Independent. Employee-owned.
JP Morgan	$394 billion	$320 billion	Owned by JP Morgan Chase.
PIMCO	$371 billion	$350 billion	Owned by Allianz.
BlackRock	$316 billion	$279 billion	Independent. Publicly traded.
Invesco	$314 billion	$285 billion	Independent. Publicly traded.
MFS	$313 billion	$268 billion	Owned by Sun Life Financial.
Dodge & Cox	$206 billion	$183 billion	Independent. Employee-owned.
Columbia	$179 billion	$154 billion	Owned by Ameriprise Financial.
TIAA Investments	$173 billion	$156 billion	Owned by TIAA.
Janus Henderson	$172 billion	$145 billion	Independent. Publicly traded.
Lord Abbett	$172 billion	$152 billion	Independent. Employee-owned.
PGIM	$158 billion	$137 billion	Owned by Prudential Financial.
Principal Funds	$153 billion	$134 billion	Owned by Principal Financial.
Hartford Funds	$134 billion	$113 billion	Owned by Hartford Financial Services Group.
John Hancock Funds	$133 billion	$118 billion	Owned by Manulife Financial.
Schwab Funds	$110 billion	$95 billion	Owned by Charles Schwab Corp.
Goldman Sachs	$109 billion	$93 billion	Owned by Goldman Sachs Group.
SEI	$108 billion	$95 billion	Independent. Publicly traded.
Victory Capital	$106 billion	$94 billion	Independent. Publicly traded.
Bridge Builder	$103 billion	$87 billion	Owned by employee-owned Edward Jones.
Metropolitan West	$98 billion	$92 billion	Owned by TCW Group. TCW is owned by employees, Carlyle Group, and Nippon Life.
AllianceBernstein	$98 billion	$90 billion	Publicly traded. Majority owned by Axa Equitable Holdings.
Nuveen	$92 billion	$82 billion	Owned by TIAA.
Voya	$88 billion	$78 billion	Owned by Voya Financial.
Baird	$86 billion	$74 billion	Owned by employee-owned Baird Financial Group.
Wells Fargo Funds	$85 billion	$77 billion	Owned by Wells Fargo & Co.
Federated	$85 billion	$72 billion	Independent. Publicly traded.
Putnam	$84 billion	$75 billion	Owned by Great-West Lifeco and ultimately by Power Financial.
DoubleLine	$84 billion	$81 billion	Independent. Employee-owned.
Morgan Stanley	$82 billion	$62 billion	Owned by Morgan Stanley.
Eaton Vance	$81 billion	$75 billion	Independent. Publicly traded. Agreed to be acquired by Morgan Stanley in October 2020.
First Eagle	$66 billion	$59 billion	Controlling interests held by Blackstone Group and Corsair Capital funds.
MainStay	$66 billion	$58 billion	Owned by New York Life.
Delaware Funds	$66 billion	$56 billion	Owned by Macquarie Group.
Artisan	$65 billion	$53 billion	Independent. Publicly traded.
Ivy Funds	$60 billion	$52 billion	Owned by publicly traded Waddell & Reed. Waddell & Reed agreed to be acquired by Macquarie Group in December 2020.
BNY Mellon	$58 billion	$52 billion	Owned by Bank of New York Mellon Corp.
Northern Funds	$56 billion	N/A	Owned by Northern Trust Corp.
Oakmark Funds	$56 billion	N/A	Owned by Natixis subsidiary Harris Associates and ultimately by Groupe BPCE.
Harbor Funds	$56 billion	N/A	Owned by ORIX Corp.
Natixis Funds	$55 billion	$50 billion	Owned by Natixis and ultimately by Groupe BPCE.

**Note: Chart includes U.S. mutual fund families with more than $50 billion in assets, ex-money market.
Sources: Morningstar, Inc, CL-Media Relations LLC, SEC filings, company websites.