5 Biggest Publicly Traded Asset Managers

2. The Charles Schwab Corporation (NYSE:SCHW)

AUM: $7.3 trillion

The Charles Schwab Corporation (NYSE:SCHW), headquartered in the United States, is a multinational financial services company that provides an array of services. These services encompass banking, commercial banking, investment-related services, consultancy, and wealth management advisory services, catering to both retail and institutional clients. Its stock roared and gained 12% after the firm beat analyst EPS estimates during its second quarter.

By the conclusion of Q2 2023, Insider Monkey’s database reported that 88 hedge funds had holdings in The Charles Schwab Corporation (NYSE:SCHW), a slight increase from the 87 in the previous quarter. These holdings collectively represent a value exceeding $4 billion.

ClearBridge Large Cap Value Strategy made the following comment about The Charles Schwab Corporation (NYSE:SCHW) in its Q2 2023 investor letter:

“We have done so recently with The Charles Schwab Corporation (NYSE:SCHW), which got caught up in investor concerns over regional banks, due to the perception of an asset/liability mismatch on Schwab’s balance sheet. While there are similarities with regional banks, Schwab has minimal credit risk and far higher organic growth than traditional banks. In addition, Schwab’s mostly retail customers are not pulling money out of its ecosystem. On the contrary, the company continues to grow client assets at a mid-single-digit percentage rate despite the banking selloff. Concerned over interest rate risk, we trimmed our position last year and earlier this year. As the stock pulled back this spring, we added back aggressively. It remains an exceptionally strong franchise in terms of asset gathering and customer loyalty and runs a unique business model that continues to attract client assets; we are pleased to have the opportunity to express our differentiated view.”