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Traditional asset management

The 22 companies in this industry listed on the NYSE and Nasdaq are worth $316 bn combined; the largest are BlackRock (BLK), Ameriprise Financial (AMP) and T. Rowe Price (TROW). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Comfortable leader
22 companies value 316 bn revenue 82 bn margin 19.6% free cash flow 18 bn avg. score 5.8
BLK holds 57.9% of the group's value, 4.3x the runner-up
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 BLK BlackRock
United States · score 6.1
 58% 183 bn 27 bn 24.1% 3.5 bn 1.9% 1.8% World's largest asset manager, with iShares ETFs · World's largest asset manager (~$12tn); owner of iShares
2 AMP Ameriprise Financial
United States · score 8.1
 13% 42 bn 20 bn 19.9% 8.1 bn 19.0% 1.4% Wealth management, insurance and annuities, since 1894 · Wealth management and insurance with a loyal client base
3 TROW T. Rowe Price
United States · score 7.6
 7% 21 bn 7.6 bn 29.3% 1.7 bn 7.8% 5.3% Active fund management and retirement savings · Active manager with a debt-free balance sheet and ~39 years of rising dividends
4 BEN Franklin Resources
United States · score 5.3
 5% 16 bn 9.3 bn 8.7% 0.2 bn 1.5% 4.5% Asset management under the Franklin and Templeton brands · Traditional global asset manager; 40+ years of rising dividends
5 IVZ Invesco
United States · score 5.7
 4% 13 bn 6.9 bn -1.2% 1.9 bn 15.4% 3.1% Asset management, with the Invesco QQQ ETFs · Owner of QQQ, one of the world's largest ETFs
6 AMG AFFILIATED MANAGERS GROUP, INC.
United States · score 6.9
 3% 10 bn 2.3 bn 37.7% 1.1 bn 10.7% 0.0% Stakes in independent asset managers · Florida — assets of $9.4bn
7 VCTR Victory Capital Holdings, Inc.
United States · score 7.5
 2% 6.6 bn 1.6 bn 29.6% 0.6 bn 8.5% 2.5% Global asset manager, with $313.8 billion under management · Ohio — assets of $4.2bn
8 FHI FEDERATED HERMES, INC.
United States · score 7.6
 1% 4.1 bn 1.9 bn 21.3% 0.4 bn 8.9% 2.6% Active asset management, with $903 billion under management · Pennsylvania — assets of $2.3bn
9 CNS COHEN & STEERS, INC.
United States · score 5.5
 1% 3.5 bn 0.6 bn 28.8% 0.1 bn 1.9% 3.8% Management of real asset and alternative income funds, since 1986 · New York — assets of $901m
10 AAMI Acadian Asset Management Inc.
United States · score 2.5
 1% 3.3 bn 0.7 bn 15.2% -0.0 bn -1.0% — Systematic asset management holding company · Massachusetts — assets of $857m
11 WT WisdomTree, Inc.
United States · score 5.7
 1% 3.2 bn 0.6 bn 13.3% 0.2 bn 6.1% 0.5% ETPs, model portfolios and digital asset products · New York — assets of $1.6bn
12 AB ALLIANCEBERNSTEIN HOLDING L.P.
United States · score 6.5
 1% 3.2 bn — — 0.3 bn 9.8% — Global asset management and investment research · Tennessee — assets of $1.2bn
13 SII SPROTT INC.
Canada · score 6.5
 1% 2.8 bn 0.3 bn 23.6% 0.1 bn 3.5% 1.2% Precious metals and mining asset management, from Canada · Canada — assets of $526m
14 APAM Artisan Partners Asset Management Inc.
United States · score 7.0
 1% 2.1 bn 1.3 bn 24.1% 0.3 bn 12.4% 13.4% Active asset management in high value-added strategies · Wisconsin — assets of $1.5bn
15 VRTS VIRTUS INVESTMENT PARTNERS, INC.
United States · score 3.0
 0% 0.8 bn 0.8 bn 16.5% -0.1 bn -6.7% 8.4% Investment management for institutions and individuals · Connecticut — assets of $4.5bn
16 NOAH NOAH HOLDINGS LTD
Singapore · score 6.8
 0% 0.5 bn 0.4 bn 21.4% 0.1 bn 25.4% 16.5% Wealth management for high net worth Chinese-speaking clients · Singapore — assets of $1.7bn
17 ALTI AlTi Global, Inc.
United States · score 2.5
 0% 0.4 bn 0.3 bn -40.9% 0.0 bn 0.3% — Wealth management with family office services · New York — assets of $1.1bn
18 WHG WESTWOOD HOLDINGS GROUP INC
United States · score 7.0
 0% 0.2 bn 0.1 bn 7.7% 0.0 bn 10.4% 3.0% Investment management and trust services, from Texas · Texas — assets of $155m
19 SAMG Silvercrest Asset Management Group Inc.
United States · score 7.0
 0% 0.1 bn 0.1 bn 0.7% 0.0 bn 7.1% 5.3% Wealth management and family office for high net worth clients · New York — assets of $140m
20 MGLD Marygold Companies, Inc.
United States · score 0.6
 0% 0.1 bn 0.0 bn -17.3% 0.0 bn -2.8% — Holding company in asset management, food and beauty products · California — assets of $24m
21 HNNA HENNESSY ADVISORS INC
United States · score 7.4
 0% 0.1 bn 0.0 bn 24.8% 0.0 bn 12.5% 5.5% Manages 16 Hennessy mutual funds and one ETF · California — assets of $123m
22 GROW U S GLOBAL INVESTORS INC
United States · score 5.2
 0% 0.0 bn 0.0 bn 21.2% 0.0 bn 2.1% 3.5% Investment management · Texas — assets of $48m

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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