20 Biggest Publicly Traded Asset Managers

12. Morgan Stanley (NYSE:MS)

AUM: $1.89 trillion

Number of Hedge Fund Holders: 69

Morgan Stanley (NYSE:MS) ranks among the biggest publicly traded asset managers. On January 16, RBC Capital boosted Morgan Stanley (NYSE:MS)’s price target to $207 from $185, while keeping a Sector Perform rating on the financial company. According to the firm, Morgan Stanley’s diverse business model, which comprises Institutional Securities, Wealth Management, and Investment Management, resulted in solid performance for the fourth quarter of 2025.

RBC Capital believes that Morgan Stanley’s business strategy has allowed it to provide shareholders with a return on tangible common equity (ROTCE) of in excess of 20%. With a record 31.0% pre-tax margin, the Wealth Management segment was especially praised for its impressive performance.

The company intends to continue to benefit from operating leverage, with a tax rate of 22-23% in 2026. Major investments in technology and client competencies are also expected to continue, with a focus on artificial intelligence and digital assets.

Morgan Stanley (NYSE:MS) is a global financial services company that provides a range of investment banking, securities, wealth management, and investment management services to corporations, financial institutions, governments, and individuals.