📈 Price History

Ratio Health

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— Good

— Average

— Poor

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About

Acadian Asset Management Inc. is a publicly owned asset management holding company.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding AAMI

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	60.5K	$3.3M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used superlatives like 'record NCCF', 'highest in firm's history', 'record AUM', 'E&I EPS up 42%' and provided concrete metrics such as 94% outperformance and 4.5% excess return, evidencing a bullish and numbers-driven tone.

Q3 2025

Confident Specific

Management used language like 'thrilled to share', 'strong performance', 'record high', 'robust pipeline', and 'disciplined' repeatedly. They cited specific metrics: 94% of strategies by revenue outperformed over 3/5/10 years, 4.5% annualized excess return, $6.4B net flows, and $166.4B AUM. No hedging or defensive phrasing was present.

Q4 2025

Confident Specific

Management repeatedly used terms like 'breakout results', 'record high', 'exceptional and historic year', and expressed confidence in the future, citing sustained momentum and strong growth metrics.

Q1 2026 latest

Confident Specific

Management used emphatic language such as 'exceptional', 'thrilled', 'record high', 'new quarterly record' and provided precise numbers (e.g., $21.4B net flows, 41% management fee growth, 94% ENI EPS growth) throughout the call.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Record net inflows of $21.4B, including a landmark £16B win, demonstrate sustained client demand and validate the systematic platform. The 94% ENI EPS growth and 10pp margin expansion show powerful operating leverage. However, the mix shift toward enhanced equities will likely compress average fee rates, a headwind to watch next quarter. Performance remains excellent, supporting continued flows. Key items to monitor next quarter: full run-rate fee impact of the large mandate, pipeline replenishment after heavy Q1 funding, and any updates on systematic credit strategies approaching three-year track records. The balance sheet is strong with conservative leverage, and capital returns (buybacks/dividend) remain supportive.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Acadian Asset Management Q1 2026: record AUM $195.7B, net inflows $21.4B, ENI EPS up 94%

Revenue & Profitability

Q1 2026 U.S. GAAP net income attributable to controlling interests increased 21% year-over-year. ENI net income rose 85% to $37.6 million, and ENI diluted EPS increased 94% to $1.05. Management fees grew 41% to $159 million, and adjusted EBITDA increased 76%. The company reported a strong balance sheet with $129 million in cash and $97 million in seed investments.

Outlook

Management expressed confidence in the systematic investing space, noting that systematic is a winner in active equity. They see opportunities in systematic credit as investors consider alternatives to private credit. The pipeline remains healthy and diversified. Macrop volatility in Q1 2026 highlighted the value of managed volatility strategies.

Growth Drivers

Record net inflows of $21.4 billion in Q1 2026 were driven by enhanced equity mandates, including a large win from St. James's Place, and extensions in global equity strategies. Non-U.S. and international strategies continued to see strong interest, particularly from U.S.-based clients. The firm has now delivered nine consecutive quarters of positive net flows, with a diverse mix across strategies and client types.

Balance Sheet & CapEx

Acadian is investing in IT and infrastructure, including AI-assisted coding and enterprise AI tools to improve productivity and support research. The company maintains an active seed capital program, primarily allocated to systematic credit strategies, and expects to redeploy capital as those strategies gain traction. Management guided that overall seed needs may increase only modestly on the margins.

Margins

ENI operating margin expanded 978 basis points year-over-year to 38.1%, driven by revenue growth. The ENI operating expense ratio fell to 38.4% from 48.4% in Q1 2025, reflecting improved operating leverage. The variable compensation ratio decreased to 39.4% from 47.6%, and management guided a full-year ratio of approximately 40%-43% assuming similar revenue mix.

Key Risks

Risks mentioned include non-cash expenses related to changes in the value of Acadian LLC equity and profit interests, global market volatility, and macroeconomic uncertainty. The CFO noted that average fee rates face a potential headwind from continued mix shift to enhanced equity. The company also acknowledged that AI-driven democratization of systematic strategies could introduce new competitors.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-30

Record AUM and profitability were achieved, with net income up 170% and AUM up 54% year-over-year. Strong investment performance, robust net inflows, and disciplined capital management drove results, while new product launches and leadership changes support future growth.

Q1 2026 Q1 2026 2026-04-30

Record Q1 2026 results included 61% AUM growth, 41% higher management fees, and strong net inflows. Operating margin expanded to 38.1%, and capital returns to shareholders continued via buybacks and a higher dividend.

Q4 2025 Q4 2025 2026-02-05

Record AUM and net client cash flows drove strong 2025 results, with management fees up 32% and ENI EPS reaching new highs. Operating margins expanded, leverage declined, and capital returns increased, positioning the firm for continued growth in 2026.

Q3 2025 Q3 2025 2025-10-30

Record AUM of $166.4B and strong net inflows marked Q3 2025, with enhanced and extension strategies driving growth. Management fees rose 21% year-over-year, while operating margins and ENI EPS improved. Capital management included share buybacks and a major debt refinancing.

Q2 2025 Q2 2025 2025-07-31

Record AUM of $151.1B and $13.8B in net client inflows marked a historic Q2, driven by enhanced equity strategies and robust global demand. Operating margin expanded to 30.7%, and the firm returned $23.6M to shareholders via buybacks.

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Investment Risk:
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