Service Corporation International

SCI is a publicly traded corporation listed on the New York Stock Exchange under ticker SCI. It was founded by Robert L. Waltrip as a single funeral home in 1962 and grew through consolidation. While the Waltrip family has historical ties — son W. Blair Waltrip served as Executive Vice President — the firm is not a single-family office. Investment decisions and trust-fund management are conducted at the corporate level under fiduciary and regulatory oversight.

SCI does not report a single AUM figure. Its investment assets are held primarily within pre-need funeral and cemetery trust funds required by state law. These are invested across equities, fixed income, and alternative assets to fund future service obligations. The firm's cemetery real estate — including Rose Hills Memorial Park and properties across 44 states and eight Canadian provinces — represents a separate hard-asset base that does not appear on a conventional AUM line.

SCI does not disclose a named CIO or separate investment committee publicly for its trust portfolios. Investment management is overseen internally through the treasury function and governed by state insurance commission regulations, not the SEC. Public filings describe the allocation framework and fiduciary constraints but do not attribute strategy to a specific named individual.

SCI sources acquisitions through a dedicated corporate development team that targets independent and family-owned funeral homes and cemeteries. The firm's scale allows it to approach owners directly, often offering a Dignity Memorial network affiliation as part of the transition. The May 2023 Carriage Services portfolio acquisition illustrates the firm's ability to absorb multi-site portfolios from competitors (per the firm, 2023).

No. The trust funds are fully reserved for future service obligations to customers who have pre-purchased funeral and cemetery services. They are not structured as co-mingled investment vehicles, nor does SCI market them to external limited partners. The capital is ring-fenced and managed under state funeral-board and insurance-commission regulation.

SCI's liabilities are tied to specific future funeral and cemetery service delivery, not cash claims. State law requires that pre-need payments be placed in trust and managed conservatively. The asset side includes the underlying cemetery land itself, creating a direct real-estate hedge against liability growth that most insurance general accounts lack. This makes SCI's balance sheet structurally different from a life insurer or pension fund.

SCI does not operate a single consolidated foundation, but founder Robert L. Waltrip established the Lone Star Flight Museum and the National Museum of Funeral History in Houston as separate nonprofit entities. The SCI Foundation also supports community and industry causes. These entities are legally distinct from the public company and its trust funds.