Acadian Asset Management Inc

Acadian Asset Management Inc. is a holding company whose operating business is its majority-owned subsidiary, Acadian Asset Management LLC, founded in 1986. Acadian invests systematically: rather than relying on one manager's judgment, it uses data, computer models and set rules to pick from more than 65,000 securities in over 150 markets. It managed about $178 billion of client money (assets under management, or AUM) as of December 31, 2025. Until January 1, 2025, the company was called BrightSphere Investment Group.

Most fees are a percentage of the assets Acadian manages, so revenue rises and falls with markets and with money clients add or withdraw. Revenue was $563.7 million in fiscal 2025. Strategies include emerging-market, non-U.S., global and small-cap stocks, enhanced equity, "extension" portfolios such as 130/30 funds that also bet against some stocks, systematic credit and alternatives. Acadian's partners keep a meaningful ownership stake, and the parent shares in its profits.

The company reports a single segment, Quant & Solutions. Institutions such as pension plans, sovereign wealth funds, endowments and foundations account for over 80% of AUM. Financial advisors, private banks, family offices and wealthy individuals make up almost 20%. Clients span more than 40 countries, and the top five relationships produced about 14% of annualized management fees as of December 31, 2025.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $185.1M, up 45.3% from a year earlier, and net income was $27.3M (+170.3%).
• For fiscal 2025, revenue was $563.7M (+11.5% year over year; -4.2% a year from FY2020 to FY2025) with a 14.2% net margin.

• Over FY2021–FY2025: $0.00 in buybacks and $0.00 in dividends.
• Regular dividends per share grew -21.0% a year over 5 years (FY2020–FY2025).
• Shares outstanding changed -55.3% from Aug 6, 2021 to Aug 4, 2026.

Rank among 1514 US companies

Form 4 filings from 2025-10-30 to 2026-10-30 (15 read): 0 open-market purchases and 9 sales ($157.7M).

Large shareholders (13G filings)

ETFs with the most weight in AAMI

1. Five strategies hold nearly half of assets. As of December 31, 2025, $81 billion, or 46%, of assets under management sat in just five strategies. Weak results or client exits in any of them could cut revenue sharply.
2. Almost all income comes from one subsidiary. The parent's cash comes almost entirely from distributions paid by Acadian LLC, whose own partners also hold equity. Lower profits there, or a renegotiated profit-sharing deal, could shrink what shareholders receive.
3. Weaker results could push clients away. Clients judge Acadian against benchmarks. Before fees, assets producing 57% of revenue beat their one-year benchmarks at the end of 2025, down from 91% at the end of 2024. Lasting underperformance can trigger withdrawals.
4. A major shareholder can sway the company. The 10-K says Paulson can meaningfully influence the business and that share sales by Paulson could weigh on the price. Paulson & Co. Inc. sold about $147 million of stock on June 17, 2026.
5. Cheap index funds pressure active fees. Rivals offer passive products that simply track an index, such as many ETFs, at lower fees, and new managers face few barriers to entry. Fee cuts, or clients shifting to cheaper products, could shrink revenue.
6. Market slumps shrink fee revenue. Most fees are a percentage of client assets, so a market slide lowers revenue even if no client leaves. The 10-K flags inflation, interest rates and currency swings as pressures on client portfolios.

• Oct 29, 2026 Quarterly results released
• Jul 30, 2026 Quarterly results released
• Jun 11, 2026 Executive or board change; Shareholder vote results
• May 19, 2026 Investor presentation or announcement
• Apr 30, 2026 Quarterly results released
• Feb 5, 2026 Quarterly results released
• Nov 25, 2025 Other company announcement
• Oct 30, 2025 Major agreement signed; Quarterly results released; New debt or financial obligation; Other company announcement

Acadian pays only a token dividend: $0.04 per share in each fiscal year from 2021 through 2025, down from $0.13 in 2020. That is a tiny fraction of 2025 diluted earnings of $2.21 per share, and the yield was 0.34% as of October 28, 2026. Share repurchases have played a far bigger role: the company bought back about 58% of its shares between January 1, 2020 and December 31, 2025. For income seekers, returns depend almost entirely on the share price.

Our price record for the shares covers only about 1.8 years, so it doesn't show how they held up in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. In the year to October 28, 2026, the stock rose 85.2% but fell as much as 15.7% from a high. Its beta of 1.54 means it swung about 1.5 times as much as the market. Single stocks carry more risk than diversified funds.