20 Biggest Publicly Traded Asset Managers

8. Bank of America Corporation (NYSE:BAC)

AUM: $2.17 trillion

Number of Hedge Fund Holders: 111

Bank of America Corporation (NYSE:BAC) ranks among the biggest publicly traded asset managers. On January 15, Truist Securities cut its price target for Bank of America Corporation (NYSE:BAC) from from $62 to $60, retaining a Buy rating on the banking giant. The drop reflects minor adjustments in the firm’s provision estimates, as well as plans for BofA to halt its share buybacks.

In contrast to Bank of America’s medium-term goal of 200–300+ basis points, the firm’s model now predicts 160 basis points of positive operating leverage in 2026, considerably lower than the bank’s guidance of 200 basis points, and 200 basis points in 2027.

Also on January 15, TD Cowen reduced its price target on Bank of America Corporation (NYSE:BAC) to $64 from $66. The drop comes after Bank of America’s fourth-quarter 2025 core EPS of $0.98, which exceeded market estimates. The earnings beat was mostly due to decreased provisions and moderate net interest income growth.

Bank of America Corporation (NYSE:BAC), through its subsidiaries, provides a range of financial products and services to individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide.