PresentationUnknown Attendee Okay. Thank you. Good morning, everyone. It's my pleasure to introduce Bruce Flatt, CEO and Chair of the Board of Brookfield. Over the last several years, the Brookfield ecosystem has evolved into a leading global alternative asset manager with over $580 billion in fee-bearing capital across a wide range of strategies. The firm also operates a fast-growing insurance business and annuities business on the other side of the house now under BN, with deep expertise across the invest ...

Core Insights - Ascent Wealth Partners has initiated a new position in Blackstone, acquiring 51,697 shares valued at $8.83 million, representing 1.02% of its total U.S. equity assets [1][2][7] - Blackstone's stock price as of October 20, 2025, was $160.44, reflecting a 6.05% decline over the past year, underperforming the S&P 500 by 17.65 percentage points [2][3] Company Overview - Blackstone Inc. is a leading global alternative asset manager with a diversified portfolio that includes real estate, private equity, credit, and hedge fund solutions [4][6] - The company reported a total revenue of $11.58 billion and a net income of $2.86 billion for the trailing twelve months [3] Financial Performance - Blackstone's Q3 revenue decreased to $3.1 billion from $3.7 billion year-over-year, missing analyst expectations, which led to a decline in diluted earnings per share from $1.02 to $0.80 [8] - Despite the revenue drop, Blackstone achieved a record AUM of $1.2 trillion in Q3, marking a 12% year-over-year increase, and fee-related earnings grew by 26% to $1.5 billion [9][10] Investment Sentiment - Ascent Wealth Partners' investment in Blackstone suggests a belief in the stock's potential upside, especially given the recent dip in share price following the Q3 earnings report [7][10]

Core Insights - Ayrshire Capital Management LLC increased its position in Blackstone by 28,448 shares during Q3 2025, bringing its total holdings to 42,892 shares valued at approximately $4.87 million [1][2][8] - Blackstone's stock price as of October 20, 2025, was $160.44, reflecting a 6.05% decline over the past year and underperforming the S&P 500 by 17.65 percentage points [2][3] - The company reported trailing twelve-month revenue of $11.58 billion and net income of $2.86 billion for the period ended June 30, 2025 [3][4] Company Overview - Blackstone is a leading global alternative asset manager with a diversified platform that includes real estate, private equity, hedge funds, and credit [5][6] - The company has a market capitalization of $192.54 billion and offers a dividend yield of 2.66% as of October 21, 2025 [3][4] Recent Performance - Blackstone's assets under management (AUM) rose 12% year over year to a record $1.2 trillion [10] - Distributable earnings increased 48% year over year to $2 billion, while fee-related earnings rose 26% year over year to $1.5 billion [10] - Despite a decline in sales from $3.7 billion in 2024 to $3.1 billion in Q3 2025, the company's return on equity has been steadily rising [9][11] Investment Implications - Ayrshire's significant increase in Blackstone holdings suggests a bullish outlook on the company, indicating confidence in its long-term performance [8][11] - The current stock price decline may present a buying opportunity for long-term investors [11]