MarkelAdd+0.58%$130M1.09%Insurance float / Long-term value
HoskingⓘAdd+3.74%$27M0.96%Contrarian value / Global diversified
What managers sayⓘ
2024-09-30Oakmark FundsBullOakmark Fund: Third Calendar Quarter 2024Detail →
2023-12-31Giverny CapitalBullGiverny Capital Annual Letter to Partners 2023Detail →
2023-09-30Oakmark FundsNeutralOakmark Fund: Third Quarter 2023 and Fiscal Year-EndDetail →
2023-04-27Oakmark FundsBullLetters to ShareholdersDetail →
2023-03-31Oakmark FundsBullOakmark Fund: First Calendar Quarter 2023Detail →
2011-03-08GMOBearThe Seven Immutable Laws of InvestingDetail →
Earnings Callsⓘ
Q2 2026July 21, 2026
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Overview Conclusion: This quarter's results beat expectations, primarily driven by customer growth, accelerated asset inflows, and record-high trading activity.
Key Data: Total revenue of $7.1 billion (+21% YoY), adjusted EPS of $1.62 (+42%), and core net new assets of $120 billion (+nearly 50%).
Business Progress: 1.4 million new brokerage accounts opened, Pledged Asset Line grew 59%, and managed investing net inflows rose 53%. New capabilities in AI, crypto, Forge, etc., continue to advance, strengthening the platform's leadership.
Guidance & Outlook: Raised full-year 2026 revenue growth to 17.5%-18.5%, expense growth to 9.5%-10.5%, and NIM is expected to expand to 3%-3.10%.
Risk/Highlight Signals: Management tone is extremely positive, emphasizing that trading activity is sustainable, with no apparent negative signals.