Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let’s have a look at Blackstone (NYSE: BX) and its peers.

Asset management firms oversee investment portfolios for institutions and individuals. The industry benefits from the growing global wealth pool, retirement savings needs, and expansion into alternative investments (private equity, real estate, etc.). However, firms face significant pressure from the shift to lower-cost passive investment products, regulatory requirements for fee transparency, and increasing technology costs to stay competitive in portfolio management and client service.

The 5 asset management stocks we track reported a mixed Q1. As a group, revenues missed analysts’ consensus estimates by 1.8%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.7% since the latest earnings results.

Blackstone (NYSE: BX)

With over $1 trillion in assets under management and investments spanning real estate, private equity, credit, and hedge funds, Blackstone (NYSE: BX) is a global alternative asset manager that invests capital on behalf of pension funds, sovereign wealth funds, and other institutional investors.

Blackstone reported revenues of $3.46 billion, up 24.2% year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a satisfactory quarter for the company with a narrow beat of analysts’ AUM estimates.

Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 11.4% since reporting and currently trades at $114.92.

Is now the time to buy Blackstone? Access our full analysis of the earnings results here, it’s free.

Best Q1: TPG (NASDAQ: TPG)

Founded in 1992 and managing over 300 active portfolio companies across more than 30 countries, TPG (NASDAQ: TPG) is a global alternative asset management firm that invests across private equity, credit, real estate, and public market strategies.

TPG reported revenues of $570 million, up 20.7% year on year, outperforming analysts’ expectations by 5.2%. The business had an exceptional quarter with a beat of analysts’ EPS and revenue estimates.

TPG delivered the biggest analyst estimate beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.9% since reporting. It currently trades at $41.19.

Is now the time to buy TPG? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Carlyle (NASDAQ: CG)

Founded in 1987 with just $5 million in capital and named after the iconic New York hotel where the founders first met, The Carlyle Group (NASDAQ: CG) is a global investment firm that raises, manages, and deploys capital across private equity, credit, and investment solutions.

Carlyle reported revenues of $750.9 million, down 28% year on year, falling short of analysts’ expectations by 13%. It was a softer quarter as it posted a significant miss of analysts’ revenue and AUM estimates.

Carlyle delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 13.8% since the results and currently trades at $43.80.

Read our full analysis of Carlyle’s results here.

Ares (NYSE: ARES)

With roots in the leveraged finance group of Apollo Management, Ares Management (NYSE: ARES) is an alternative investment firm that manages private equity, credit, real estate, and infrastructure assets for institutional and high-net-worth clients.

Ares reported revenues of $1.27 billion, up 26.2% year on year. This number missed analysts’ expectations by 2.3%. Overall, it was a softer quarter as it also logged a miss of analysts’ revenue and EPS estimates.

Ares pulled off the fastest revenue growth among its peers. The stock is up 5.3% since reporting and currently trades at $123.58.

Read our full, actionable report on Ares here, it’s free.

Artisan Partners (NYSE: APAM)

Founded in 1994 with a focus on autonomous investment teams and a "high-value-added" approach, Artisan Partners (NYSE: APAM) is an investment management firm that offers actively managed equity and fixed income strategies to institutional and individual investors.

Artisan Partners reported revenues of $303 million, up 9.3% year on year. This print was in line with analysts’ expectations. Taking a step back, it was a slower quarter as it logged a significant miss of analysts’ EPS estimates and revenue in line with analysts’ estimates.

The stock is down 1.9% since reporting and currently trades at $37.10.

Read our full, actionable report on Artisan Partners here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.