Financial Data and Key Metrics Changes - Assets under management (AUM) reached a record $144.5 billion, up 5% from Q3 and over 30% year-over-year [5] - Adjusted revenues for Q4 were $147.4 million, a 17% increase from Q3 and approximately 33% year-over-year [8] - Adjusted net income for the quarter was $41.2 million, or $0.29 per share [9] Business Line Data and Key Metrics Changes - European-listed products saw AUM increase from $30.7 billion to $53.3 billion, supported by over $6 billion of net inflows [6] - U.S. AUM increased to a record $88.5 billion, with $1.4 billion of net inflows for the year [7] - Digital assets platform AUM reached approximately $770 million at year-end, reflecting strong inflows into the digital money market fund [7] Market Data and Key Metrics Changes - Global AUM today stands at $160.8 billion, up $16 billion or 11% from year-end, driven by favorable market conditions and almost $2 billion of net inflows [8] - European inflows were led by $4.3 billion into the UCITS franchise, particularly from the European Defence ETF launch [6] Company Strategy and Development Direction - The company aims to continue delivering differentiated products and has launched over 30 new strategies across various themes [17] - Focus remains on expanding the digital assets platform and private markets, with the Ceres acquisition enhancing revenue streams [19] - The company is positioned to capture growth in metals and thematic investments, reflecting a multi-year growth story [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve financial and business goals despite macroeconomic volatility [3] - The company anticipates continued organic growth and margin expansion, with a focus on maintaining expense discipline [15] - Management highlighted the importance of diversification across asset classes and geographies for resilience and growth [22] Other Important Information - The company expects a compensation to revenue ratio of 26%-28% for 2026, reflecting planned hires and compensation adjustments [10] - Discretionary spending guidance is forecasted to range from $80 million-$86 million, driven by marketing and sales-related expenses [11] Q&A Session Summary Question: What are the biggest opportunities for WisdomTree in 2026 and 2027? - Management highlighted strong growth in thematic investments, particularly in Europe, and the potential for market share gains in commodities [25][26] Question: What are the major categories for discretionary spending? - Discretionary spending is largely driven by marketing and sales-related expenses tied to growth initiatives [32] Question: Can you provide insights on the digital asset strategy and user types? - The digital asset strategy focuses on serving clients already familiar with on-chain operations, including stablecoin issuers and businesses using stablecoins for treasury management [52][63] Question: What lessons have been learned from the Ceres acquisition? - The integration of Ceres has gone smoothly, confirming the strategic fit and potential for synergies in distribution and product offerings [60][62] Question: How does macroeconomic volatility affect WisdomTree's business? - The company is well-positioned to benefit from macroeconomic volatility due to its diversified product offerings across asset classes [48][50]

Financial Data and Key Metrics Changes - The company reported record long-term inflows of $118.6 billion, up 40% from the prior quarter and 22% from the prior year quarter [5] - Assets under management (AUM) ended the quarter at $1.68 trillion, increasing from the prior quarter due to long-term net inflows and the acquisition of Apera [6][7] - Adjusted Operating Income was $437.3 million, reflecting lower performance fees and the impact of higher average AUM [18] Business Line Data and Key Metrics Changes - Long-term net inflows were $28 billion, with record AUM and positive net flows across equity, multi-asset, and alternative strategies [6] - Public markets generated positive net flows totaling $30.4 billion for the quarter, with equity net inflows of $19.8 billion [8] - Private markets saw $274 billion in alternative AUM, with $10.8 billion raised during the quarter, including $9.5 billion in private market assets [9] Market Data and Key Metrics Changes - The institutional pipeline of long, but unfunded mandates remains strong at $20.4 billion, indicating sustained demand for investment capabilities [8] - The ETF platform reached a new high with $58 billion in AUM, generating $7.5 billion in net flows, marking its 17th consecutive positive quarter [14] - Multi-asset AUM is nearly $200 billion, with net inflows of $4 billion during the quarter, marking the 18th consecutive quarter of positive net flows [12] Company Strategy and Development Direction - The company is focused on deepening client partnerships, broadening investment capabilities, and strengthening its global platform [5] - There is a strategic emphasis on integrated solutions and long-term relationships, reflecting a shift in client expectations [4] - The company aims to grow its fiduciary business and expand its private credit platform, with a focus on geographic and capability enhancements through M&A [10][35] Management's Comments on Operating Environment and Future Outlook - Management noted significant market turbulence and economic uncertainty, leading to a need for resilience in portfolios [3] - The company is well-positioned to capture long-term trends reshaping the industry across public and private markets [19] - Management expressed confidence in achieving a margin of over 30% by fiscal 2027, with ongoing investments in growth and innovation [44][46] Other Important Information - The company has been recognized as one of the best places to work in money management, highlighting its commitment to employee satisfaction [19] - The digital asset AUM is $1.8 billion, including approximately $900 million in tokenized funds and $800 million in crypto ETFs [16] Q&A Session All Questions and Answers Question: How much flexibility does the company have to reduce expenses if markets come under pressure? - Management indicated that expenses are expected to be in line with 2025, with key investments offset by expense savings [23] Question: Can you provide an update on potential contingent consideration liabilities from recent M&A activity? - Management confirmed that the contingent consideration around specific transactions is very low at this stage, with no additional liabilities to report [26][28] Question: What are the company's expectations for EFR in the coming quarters? - Management expects EFR to be stable in the next quarter, with potential upside based on fundraising around alternative assets [39] Question: How does the company view long-term profitability and margin targets? - Management aims for margins to exceed 30% by fiscal 2027, with ongoing efforts to streamline products and integrate acquisitions [44][46] Question: How is AI expected to impact the asset management industry and the company's M&A strategy? - Management believes that AI will drive consolidation in the industry, making it difficult for smaller managers to compete due to the scale required for data acquisition and model training [72][74]

Financial Data and Key Metrics Changes - Assets under management (AUM) reached a record $144.5 billion, up 5% from the third quarter and over 30% year-over-year [4] - Adjusted revenues for the quarter were $147.4 million, an increase of 17% from the third quarter and up approximately 33% year-over-year [7] - Adjusted net income for the quarter was $41.2 million, or $0.29 per share, with an adjusted operating margin expanding almost 300 basis points to finish the year at 36.5% [9] Business Line Data and Key Metrics Changes - European-listed products saw AUM increase from $30.7 billion to a record $53.3 billion, supported by over $6 billion of net inflows [5] - U.S. AUM increased to a record $88.5 billion, with $1.4 billion of net inflows for the year, driven primarily by U.S. equity offerings [6] - Digital assets platform AUM reached approximately $770 million at year-end, reflecting strong inflows into the digital money market fund [6] Market Data and Key Metrics Changes - Global AUM today stands at $160.8 billion, up $16 billion or 11% from year-end, driven by favorable market conditions and almost $2 billion of net inflows [7] - Thematic strategies, particularly in metals, saw AUM increase by 83% with more than $1 billion in net inflows [15] Company Strategy and Development Direction - The company aims to deliver differentiated products that perform and persist, focusing on thematic investments and private markets [16][19] - The acquisition of Ceres Partners is expected to add a long-duration, diversifying revenue stream, with AUM growing to about $1.9 billion since the acquisition [18] - The company is committed to maintaining tight expense discipline while investing in growth, demonstrating that margin expansion and investment can coexist [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve financial and business plans, highlighting the importance of organic growth and disciplined execution [14][20] - The company is well-positioned to capture market share in thematic investments, particularly in Europe, and is optimistic about the growth potential in digital assets and private markets [15][19] Other Important Information - The company forecasts a compensation to revenue ratio of 26%-28% for 2026, reflecting planned hires and compensation adjustments [10] - Discretionary spending guidance is forecasted to range from $80 million-$86 million, driven by increased marketing and sales expenses [11] Q&A Session Summary Question: What are the biggest opportunities for WisdomTree in 2026 and 2027? - Management highlighted the success of the European defense fund and the growth in thematic investments, particularly in rare earths and industrial metals, as key opportunities [24][25] Question: What are the major categories for the discretionary spending increase? - The increase is largely driven by marketing and sales-related expenses tied to growth initiatives [31] Question: Is WisdomTree's approach to growing its digital asset base focused on education or capturing existing clients? - The focus is on capturing clients who are already familiar with digital assets and tokenization [52] Question: Can you provide insights on the integration of Ceres and future growth opportunities? - The integration has gone smoothly, and management sees significant synergies and growth potential from the acquisition [61][62]

Q4 2025 Results January 30, 2026 WisdomTree – Q4/25 Results 1 Forward Looking Statements This presentation contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors t ...

Federated Hermes (NYSE:FHI) Q4 2025 Earnings call January 30, 2026 09:00 AM ET Company ParticipantsBrian Bedell - DirectorChris Donahue - President and CEODebbie Cunningham - CIORay Hanley - PresidentSaker Nusseibeh - CEOTom Donahue - CFOConference Call ParticipantsBill Katz - Senior Equity AnalystDan Fannon - Managing Director and Research AnalystJohn Dunn - Senior Equity Research AnalystKen Worthington - Brokers, Asset Managers and Exchanges Equity AnalystPatrick Davitt - Senior AnalystOperatorGreetings. ...

Federated Hermes (NYSE:FHI) Q4 2025 Earnings call January 30, 2026 09:00 AM ET Company ParticipantsBrian Bedell - DirectorChris Donahue - President and CEODebbie Cunningham - CIORay Hanley - PresidentSaker Nusseibeh - CEOTom Donahue - CFOConference Call ParticipantsBill Katz - Senior Equity AnalystDan Fannon - Managing Director and Research AnalystJohn Dunn - Senior Equity Research AnalystKen Worthington - Brokers, Asset Managers and Exchanges Equity AnalystPatrick Davitt - Senior AnalystOperatorGreetings. ...

Core Insights - Mastercard reported a 7% year-over-year increase in worldwide gross dollar volume (GDV) on a local currency basis, with 4% growth in the U.S. and 9% growth outside the U.S. [1] - The company achieved a 15% increase in net revenues for Q4 on a non-GAAP currency-neutral basis, driven by a 22% growth in value-added services and solutions [2][6] - Mastercard executives highlighted a strong performance in 2025, emphasizing double-digit revenue growth and continued momentum in value-added services [3] Financial Performance - For Q4 2025, Mastercard's net revenues rose approximately 15% on a non-GAAP, currency-neutral basis, with value-added services growth of around 22% [6] - Full-year 2025 results showed value-added services and solutions delivering net revenue growth of 21%, or 18% excluding acquisitions, on a currency-neutral basis [11] - The company expects high-end low-double-digit net revenue growth for 2026, with a one-time restructuring charge of approximately $200 million affecting about 4% of employees [4][13] Strategic Initiatives - Mastercard secured hundreds of new issuing deals globally, including an extension with Capital One and multiple regional wins in Türkiye, Latin America, and South Africa [5][9] - The company is focusing on emerging opportunities such as stablecoins and agentic commerce, with ongoing investments in digital assets and partnerships [12] - Mastercard's tokenization efforts have reached nearly 40% of all transactions, indicating a strong emphasis on security and innovation [11] Government Grants and Expense Management - Mastercard received multi-year government grants that are expected to benefit operating expenses primarily in 2025 and 2026, improving operating expense growth by around 5.5 percentage points [7][8] - Total adjusted operating expenses increased by 12% in Q4, with a 5 percentage point impact from acquisitions, while underlying expense growth was attributed to strategic initiatives [8] Capital Return and Shareholder Value - The company repurchased $3.6 billion of stock in the quarter, with an additional $715 million repurchased through January 26, 2026 [4][16] - Fourth-quarter EPS was reported at $4.76, including a $0.10 contribution from share repurchases [16]

Circle (CRCL), the stablecoin issuer behind USDC, got a second upgrade by Wall Street analysts in a week, and this time by its biggest bear. Compass Point’s Ed Engel, who had a sell rating and the lowest price target among analysts, has upgraded the stock to Neutral just a day after Mizuho's Dan Dolev revised his bearish outlook. However, Engel kept his price target the lowest among Wall Street analysts covering the stock, despite the upgrade. His new price target is $60, down from $75 due to premium va ...

A deepening dispute over tokenized stocks threatens to derail Washington’s push for comprehensive crypto regulation as industry executives split over language in the Senate Banking Committee’s portion of the landmark digital assets bill. Coinbase CEO Brian Armstrong called the contested section a “de facto ban” on tokenized equities earlier this month, while traditional finance stalwarts, including Ken Griffin’s Citadel Securities, argue firms should follow identical rules whether dealing in blockchain-ba ...

We're back on Morning Trade Live. We'll get a closer look at the consumer over the next 24 hours when we get earnings from Visa and American Express. So, here is a look at the last 12 months for some of these names.Visa, AXP, Mastercard, and Capital 1, American Express, and Capital 1 are in the green over the last year. Visa and Mastercard though are modestly lower. So, let's go inside out on some of these credit card stocks.Joining us now is Rebecca Walsa, president Wals Wealth Management. So, nice to see ...