20 Biggest Publicly Traded Asset Managers

13. Northern Trust Corporation (NASDAQ:NTRS)

AUM: $1.80 trillion

Number of Hedge Fund Holders: 47

Northern Trust Corporation (NASDAQ:NTRS) ranks among the biggest publicly traded asset managers. TD Cowen boosted its price target for Northern Trust Corporation (NASDAQ:NTRS) to $175 from $165 on January 26, retaining a Buy rating on the financial services company. The increase comes after Northern Trust’s fourth-quarter 2025 core EPS of $2.62, which beat market forecasts owing to increased pre-tax pre-provision income and lower provision expenditure. Revenue also exceeded expectations, totaling $2.14 billion vs the expected $2.06 billion.

TD Cowen stated that Northern Trust’s fee businesses are gaining traction, while the company has shown great execution in expenditure management, adding to what the bank describes as a favorable forecast for 2026.

Northern Trust Corporation (NASDAQ:NTRS) has also upgraded its medium-term pre-tax margin and ROE projections, which TD Cowen interprets as confirming trust in the company’s long-term profitability path.

Northern Trust Corporation (NASDAQ:NTRS) is a financial holding company that operates through its subsidiaries, including The Northern Trust Company (Bank). It offers wealth management, asset servicing, asset management, and banking solutions to corporations, institutions, families, and individuals.