BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds. It invests in the public equity, fixed income, real estate, currency, commodity, and alternative markets across the globe. The firm primarily invests in growth and value stocks of small-cap, mid-cap, SMID-cap, large-cap, and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment grade municipal securities, government securities including securities issued or guaranteed by a government or a government agency or instrumentality, corporate bonds, and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, it seeks to invest in Poland and Germany. The firm benchmarks the performance of its portfolios against various S&P, Russell, Barclays, MSCI, Citigroup, and Merrill Lynch indices. BlackRock, Inc. was founded in 1988 and is based in New York City with additional offices in Boston, Massachusetts; London, United Kingdom; Gurgaon, India; Hong Kong; Greenwich, Connecticut; Princeton, New Jersey; Edinburgh, United Kingdom; Sydney, Australia; Taipei, Taiwan; Singapore; Sao Paulo, Brazil; Philadelphia, Pennsylvania; Washington, District of Columbia; Toronto, Canada; Wilmington, Delaware; and San Francisco, California.

BlackRock, Inc.

Franklin Resources Inc. BEN is scheduled to report first-quarter fiscal 2026 results (ended Dec. 31, 2025) on Jan. 30, 2026, before market open. BEN’s quarterly earnings and revenues are anticipated to have declined from the year-ago reported levels.
In the last reported quarter, Franklin’s earnings surpassed the Zacks Consensus Estimate. The company’s results benefited from higher revenues and an improved assets under management (AUM) balance. Further, lower expenses were also encouraging.
BEN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched on one occasion, the average earnings surprise being 7.74%.
Franklin Resources, Inc. Price and EPS Surprise
Franklin’s Q1 Earnings & Sales Estimates
The Zacks Consensus Estimate for BEN’s earnings of 56 cents per share has remained unchanged over the past seven days. The figure indicates a decline of 5.1% from the year-ago quarter’s actual.
The consensus estimate for sales is pegged at $2.15 billion, suggesting a year-over-year decline of 4.5%.
Major Developments for Franklin
In November 2025, Franklin partnered with Wand AI to deploy agentic AI across its global platform. The multi-year collaboration moves AI from pilot programs to enterprise-scale workflows, enhancinginvestment research operational efficiency and digital transformation under strong governance.
Earlier, in October 2025, the company also completed its acquisition of Apera Asset Management, a pan-European private credit firm. The move expands BEN’s alternative credit assets under management by more than $90 billion, broadening its global alternative platform and strengthening its direct lending capabilities across Europe’s growing lower middle market.
Key Factors & Estimates for BEN in Q1
In the October-December quarter, the S&P 500 Index gained nearly 3.1%, signaling moderate market performance. The fixed-income market continued to witness positive flow trends, supported by stable returns across funds. Also, equity markets' performance showed improvement during the quarter, aided by increased market activity and investor participation. As a result, Franklin’s performance for the December-end quarter is likely to have benefited from healthy equity returns along with steady fixed-income inflows.
Despite favorable market conditions, BEN is likely to have continued to record net outflows in the fiscal first quarter. Per the monthly metrics data published by Franklin, its preliminary total AUM as of Dec. 31, 2025, was $1.68 trillion compared with the $1.67 trillion reported as of Nov. 30, 2025. The December-end AUM reflected the positive impacts of markets, partially offset by long-term net outflows of $1 billion. The Zacks Consensus Estimate for the fiscal first-quarter AUM is pegged at $1.67 trillion, indicating a marginal rise from the prior quarter’s actual.
The Zacks Consensus Estimate for investment management fees is pegged at $1.7 billion, indicating a sequential decline of 8.7%.
The consensus estimate for sales and distribution fees of $371 million indicates a 2.9% decline from the prior-quarter reported figure.
The consensus estimate for shareholder servicing fees of $62.8 million suggests a 20.7% decline from the prior-quarter actual.
The Zacks Consensus Estimate for other revenues is pegged at $12.7 million, implying a 9.1% sequential decline.
What Our Model Predicts for BEN
Per our proven model, the chances of BEN beating estimates this time are low. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here, as you can see below.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: Franklin has an Earnings ESP of -2.21%.
Zacks Rank: BEN currently has a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of BEN’s Peers
Invesco’s IVZ fourth-quarter 2025 adjusted earnings of 62 cents per share surpassed the Zacks Consensus Estimate of 57 cents. The bottom line increased 19.2% from the prior-year quarter.
The results of IVZ have been primarily aided by an increase in adjusted revenues. Moreover, growth in the assets under management reached record levels, supporting the results to an extent. However, an increase in adjusted operating expenses was a headwind.
BlackRock’s BLK fourth-quarter 2025 adjusted earnings of $13.16 per share handily surpassed the Zacks Consensus Estimate of $12.39. The figure reflects a 10.3% rise from the year-ago quarter.
Results benefited from a rise in revenues. The assets under management balance witnessed robust year-over-year growth, reaching a record high of $14.04 trillion, driven by net inflows. However, higher expenses created a headwind for BLK.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Franklin Q1 Earnings Coming Up: Here's What to Expect From the Stock

Invesco’s IVZ fourth-quarter 2025 adjusted earnings of 62 cents per share surpassed the Zacks Consensus Estimate of 57 cents. The bottom line increased 19.2% from the prior-year quarter.
Shares of the company gained 4% in the pre-market trading on better-than-expected results. However, a full day’s trading session will depict a clearer picture.
The results have been primarily aided by an increase in adjusted revenues. Moreover, growth in the assets under management (AUM) balance to record levels supported the results to an extent. However, an increase in adjusted operating expenses was a headwind.
Results in the reported quarter were negatively impacted by a non-cash intangible impairment charge of $1.8 billion. On Dec. 20, Invesco QQQ Trust was converted to an open-end fund ETF. Moreover, in the reported quarter, the company completed the sale of Intelliflo and 60% of its interest in Invesco Asset Management (India) Private Limited.
Net loss attributable to common shareholders (GAAP basis) was $1.19 billion or $2.61 per share against net income of $209.3 million or 46 cents per share in the year-ago quarter.
Full-year adjusted earnings of $2.03 per share surpassed the Zacks Consensus Estimate of $1.99. The bottom line increased 18.7% from the previous year. Net loss attributable to common shareholders (GAAP basis) was $726.3 million or $1.60 per share against net income of $538 million or $1.18 per share in 2024.
Invesco’s Adjusted Revenues Improve, Adjusted Expenses Rise
Adjusted net revenues in the quarter were $1.26 billion, up 8.8% year over year. The top line marginally surpassed the Zacks Consensus Estimate of $1.25 billion. The rise in revenues was driven by higher average AUM and revenues earned from Invesco QQQ Trust following its conversion.
Adjusted net revenues in 2025 were $4.66 billion, up 5.9% year over year. The top line surpassed the Zacks Consensus Estimate of $4.58 billion.
Quarterly adjusted operating expenses were $801.1 million, up 4.4% year over year.
The adjusted operating margin was 36.4%, up from 33.7% a year ago.
IVZ’s AUM Balance Increases
As of Dec. 31, 2025, AUM was a record $2.17 trillion, up 17.5% year over year. The average AUM at the end of the fourth quarter totaled $2.16 trillion, up 18.5%.
The company witnessed long-term net inflows of $19.1 billion in the reported quarter.
Invesco’s Decent Balance Sheet
As of Dec. 31, 2025, cash and cash equivalents were $1.04 billion compared with $973.1 million as of Sept. 30, 2025.
The long-term debt was $1.83 billion.
Invesco’s Share Repurchases
In the reported quarter, Invesco repurchased 1 million shares for $25 million.
Our View on IVZ
Invesco’s robust AUM balance, diverse product offerings, strong balance sheet and global presence will keep supporting financials. Synergies from acquisitions will keep aiding profitability. Further, a decent balance sheet and liquidity position will likely enable it to pursue sustainable capital distributions.
Invesco Ltd. Price, Consensus and EPS Surprise
Currently, IVZ carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Earnings Release Date of IVZ’s Peers
BlackRock’s BLK fourth-quarter 2025 adjusted earnings of $13.16 per share handily surpassed the Zacks Consensus Estimate of $12.39. The figure reflected a 10.3% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust year-over-year growth to a record high of $14.04 trillion, driven by net inflows. However, higher expenses created a headwind.
Blackstone BX is slated to report fourth-quarter and 2025 results on Jan. 29.
Over the past seven days, the Zacks Consensus Estimate for BX’s quarterly earnings has been revised lower to $1.51 per share.
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IVZ Stock Gains on Q4 Earnings Beat as AUM, Revenues Increase Y/Y

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the JPMorgan US Quality Factor ETF (Symbol: JQUA) where we have detected an approximate $80.8 million dollar outflow -- that's a 1.0% decrease week over week (from 119,850,000 to 118,600,000). Among the largest underlying components of JQUA, in trading today Blackrock Inc (Symbol: BLK) is down about 1.7%, Standard and Poors Global Inc (Symbol: SPGI) is off about 1.2%, and Chubb Ltd (Symbol: CB) is lower by about 1%. For a complete list of holdings, visit the JQUA Holdings page » The chart below shows the one year price performance of JQUA, versus its 200 day moving average:
Looking at the chart above, JQUA's low point in its 52 week range is $49.2541 per share, with $64.825 as the 52 week high point — that compares with a last trade of $64.67. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
YTD Return on Dow
Institutional Holders of BBIG
ARNC market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Outflow Detected - JQUA, BLK, SPGI, CB

Key Points
Aside from a steep sell-off in April 2025, Trump's tariffs haven't hurt the stock market much so far.
However, several things could change this year.
Tariffs could weigh on stock prices in 2026, but they probably won't cause a crash on their own.
Strictly enforcing immigration laws isn't likely to affect stocks all that much. Rebranding the Department of Defense as the "Department of War" won't either. Demolishing the East Wing of the White House to build a $300 million ballroom shouldn't cause a ripple in the stock market.
But tariffs are a different story altogether. These import taxes can significantly affect corporate earnings. And stock prices tend to correlate with earnings.
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Will President Trump's tariffs cause the stock market to crash in 2026? There's good news and bad news for investors.
So far, so good
The net impact of the tariffs levied since Trump returned to the White House a year ago can be summed up in four words: So far, so good. Granted, the president's "Liberation Day" tariff announcement caused the S&P 500 (SNPINDEX: ^GSPC) to plunge last April. However, the sell-off was only temporary, with the S&P finishing 2025 up 16%.
Investors shrugged off Trump's tariffs for several reasons. For one thing, the president postponed some tariffs multiple times. Trump lifted tariffs on some food imports because they were driving up grocery prices. He backed away from threats of exorbitantly high tariff rates. Some on Wall Street even began using an acronym they called "TACO," which was short for "Trump Always Chickens Out."
Equally important, many companies began aggressively increasing their imported product inventories even before Trump implemented tariffs. U.S. GDP even turned negative in the first quarter of 2025 as a result. This stocking activity provided a cushion to the earnings impact of the president's tariffs.
Finally, many importers have largely absorbed the higher prices resulting from tariffs rather than pass them along to customers. This move has helped dampen the inflationary effects of tariffs. And while absorbing high prices has weighed on profit margins, the impact hasn't been enough to cause stock prices to decline so far.
What could change in 2026
Now for the bad news. The relatively benign impact of tariffs on the stock market seen so far might not last much longer. Several things could change in 2026.
The inventory stockpiling that reduced the impact of tariffs on consumers in 2025 won't help this year. This could result in more companies passing higher prices from tariffs on to their customers in the coming months.
Indeed, BlackRock (NYSE: BLK) believes this scenario will play out this year. If so, this could cause inflation to rise and make the Federal Reserve less likely to cut interest rates. Neither outcome would be great for the stock market.
Morningstar (NASDAQ: MORN) is on the same page as BlackRock. The financial services company predicts that inflation will increase in 2026 as American consumers bear a greater share of the burden of higher prices resulting from tariffs.
The threat of tariffs related to President Trump's ambitions for U.S. control of Greenland could also reemerge. The president appeared to have backed down, based on his comments at the World Economic Forum in Davos, Switzerland, last week. Stocks soared afterward in what some might view as another example of the "TACO" trade.
However, Bank of America (NYSE: BAC) economist Ethan Harris recently argued that another acronym – "TATA" (Trump Always Tries Again) is more appropriate than "TACO." Should the president try again to use trade policies to gain control of Greenland, the stock market would likely react negatively.
Is a stock market crash on the way?
To be sure, none of this means that a stock market crash is definitely on the way. President Trump could continue to de-escalate tensions and abstain from any further tariff threats. Tailwinds for the stock market, particularly the ongoing generative AI boom, could offset any adverse effects from companies increasing prices for consumers to cover the added costs from tariffs.
Tariffs could weigh on stock prices in 2026 and create uncertainty (which investors strongly dislike). However, they probably won't cause a crash on their own.
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Bank of America is an advertising partner of Motley Fool Money. Keith Speights has no position in any of the stocks mentioned. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Will President Trump's Tariffs Cause the Stock Market to Crash in 2026

Key Points
The VanEck Semiconductor ETF has heavy exposure to Nvidia and Taiwan Semiconductor.
For equal-weight exposure, the State Street SPDR S&P Semiconductor ETF is a good option.
The iShares Semiconductor ETF focuses specifically on U.S.-based companies.
We're in the era of artificial intelligence. The growth of AI is affecting nearly every sector of the stock market, but perhaps nothing is as exciting as the opportunities in generative AI, which is very different from the traditional AI products businesses have used for years.
Traditional AI remains very useful for a variety of tasks, such as recognizing patterns. That makes it great for assigning credit scores, filtering spam, and detecting fraud, for instance. Generative AI is much different because it actually creates content rather than just sifting through it. The first widespread generative AI application, ChatGPT, came out in November 2022, and the reception was breathtaking -- ChatGPT enrolled more than 30 million users in just two months, making it one of the fastest-growing launches in history.
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Businesses today are still trying to figure out the best ways to use generative AI, but it is undoubtedly a huge opportunity for investors. MarketsandMarkets.com, a market research and consulting firm, estimates that the generative AI market is in a "hypergrowth" phase that is expected to jump from $71.4 billion in 2025 to $890.6 billion by 2032 -- a compound annual growth rate of 43.4%.
Picking and choosing the best stocks to profit from generative AI can be tricky, but an ideal way to invest is to look for a basket of stocks through exchange-traded funds. If you want to beat the projected growth of the generative AI market, here are three thematic ETFs that provide diversified exposure to the sector and can help you get richer.
VanEck Semiconductor ETF
The VanEck Semiconductor ETF (NASDAQ: SMH) tracks the MVIS US Listed Semiconductor 25 index, which follows companies involved in semiconductor production and equipment. As you might expect, the fund holds 25 semiconductor companies, with the top holdings being Nvidia, Taiwan Semiconductor, Broadcom, Micron Technology, and ASML, which together comprise nearly half of the fund's weighting.
However, this is a great fund for quick exposure to the companies that are at the forefront of generative AI. Nvidia and Broadcom are two of the biggest chipmakers; Taiwan Semiconductor provides foundry services to all three, ASML builds the leading lithography machines that fabricate semiconductor components, and Micron is a leader in creating computer memory and data storage devices.
This ETF has an expense ratio of 0.35%, or $35 annually per $10,000 invested, and is up 59% during the past year.
State Street SPDR S&P Semiconductor ETF
If you want a broader array of semiconductor stocks, the State Street SPDR S&P Semiconductor ETF (NYSEMKT: XSD) provides access to 43 companies. It's also an equal-weight ETF, so it aims to give you the same exposure to both small- and large-cap stocks by mirroring the performance of the S&P Semiconductor Select Industry index.
At this writing, top holdings are Micron Technology, Macom Technology Solutions, Power Integrations, Intel, and Allegro Microsystems, all accounting for between 3.5% and 3% of the fund.
The potential upside of this fund is that you won't be affected if a big name like AMD or Nvidia takes a tumble. But you also won't profit from their outsize gains.
The State Street SPDR S&P Semiconductor ETF also has an expense ratio of 0.35% and is up 41% during the past 12 months. It is certainly in the mix to provide returns of 43% or more.
iShares Semiconductor ETF
The iShares Semiconductor ETF (NASDAQ: SOXX) focuses specifically on U.S. companies that design, manufacture, or distribute semiconductors. The fund, which is managed by BlackRock, is market-cap weighted, unlike the State Street ETF, and currently holds 31 companies.
The top holdings in this fund are a reasonable mix of the two prior ETFs -- Nvidia, Micron, Advanced Micro Devices, Applied Materials, and Broadcom are at the top, collectively making up 34.5% of the fund. The expense ratio of this ETF is also a touch lower than the VanEck and State Street funds, at 0.34%.
In all, the iShares Semiconductor ETF is a good choice for investors who are looking for a broad sector fund while minimizing foreign exposure. The fund is up 56% during the past year, making it a solid bet to outpace generative AI's growth.
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Patrick Sanders has positions in Nvidia. The Motley Fool has positions in and recommends ASML, Applied Materials, Intel, Nvidia, Taiwan Semiconductor Manufacturing, and iShares Trust-iShares Semiconductor ETF. The Motley Fool recommends BlackRock, Broadcom, and Micron Technology. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Generative AI Drive These 3 ETFs to 43% Gains This Year?

Investors interested in stocks from the Financial - Investment Management sector have probably already heard of Patria Investments (PAX) and BlackRock (BLK). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Patria Investments and BlackRock are sporting Zacks Ranks of #1 (Strong Buy) and #3 (Hold), respectively, right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that PAX is likely seeing its earnings outlook improve to a greater extent. But this is just one piece of the puzzle for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
PAX currently has a forward P/E ratio of 11.00, while BLK has a forward P/E of 20.65. We also note that PAX has a PEG ratio of 0.71. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. BLK currently has a PEG ratio of 1.44.
Another notable valuation metric for PAX is its P/B ratio of 1.87. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, BLK has a P/B of 3.09.
These metrics, and several others, help PAX earn a Value grade of A, while BLK has been given a Value grade of D.
PAX sticks out from BLK in both our Zacks Rank and Style Scores models, so value investors will likely feel that PAX is the better option right now.
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PAX vs. BLK: Which Stock Is the Better Value Option?

Key Points
In the third quarter, hedge fund billionaires Philippe Laffont and Steven Schonfeld sold Amazon stock and added to their positions in the iShares Bitcoin Trust.
Wall Street expects Amazon’s earnings to grow at 19% annually over the next three years, which makes the current valuation of 34 times earnings look fair.
More companies and institutional investors are buying Bitcoin (or spot Bitcoin ETFs), and that is likely to continue because it is the more popular and most liquid cryptocurrency.
In the third quarter, two hedge fund billionaires sold Amazon (NASDAQ: AMZN) and added to positions in the iShares Bitcoin Trust (NASDAQ: IBIT), an exchange-traded fund (ETF) managed by BlackRock that tracks the spot price of Bitcoin (CRYPTO: BTC).
Philippe Laffont of Coatue Management sold 1.4 million shares of Amazon, trimming the position 14%. He also purchased 76,100 shares of the iShares Bitcoin Trust, more than doubling his stake.
Steven Schonfeld of Schonfeld Strategic Advisors sold 253,700 shares of Amazon, reducing the position 72%. He also added 1.1 million shares of the iShares Bitcoin Trust, increasing his stake 20%.
The trades are noteworthy because Laffont and Schonfeld outperformed the S&P 500 (SNPINDEX: ^GSPC) by 94 percentage points and 22 percentage points, respectively, in the last three years. That makes both hedge fund managers good sources of inspiration.
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Several Wall Street analysts expect Bitcoin to be far more valuable in the future. Tom Lee at Fundstrat Global Advisors says its price could hit $3 trillion in the long run, which implies more than 3,000% upside from where it currently trades at $95,000. Michael Saylor of Strategy says its price could hit $13 million by 2045, implying more than 13,500% upside.
Here's what investors should know.
Amazon: The stock Laffont and Schonfeld sold
Amazon has a strong presence in e-commerce, digital advertising, and cloud computing. Building on that advantage, the company has integrated artificial intelligence (AI) products and features across all three business segments to drive revenue growth and improve profit margins.
In e-commerce, Amazon has developed hundreds of generative AI applications to improve operational efficiency. They automate customer service, optimize demand forecasting, improve inventory placement, and expedite last-mile delivery. Amazon has also developed an AI model called DeepFleet that helps robots navigate warehouses more quickly.
In cloud computing, Amazon Web Services (AWS) has launched new foundational models and services, such as Bedrock for generative AI application development. AWS has also introduced AI agents for coding, security, and incident monitoring, and a business intelligence platform called Quick Suite, which leans on generative AI to analyze data, surface insights, and automate workflows.
Wall Street estimates Amazon's earnings will increase at 19% annually over the next three years. That seems reasonable given that Amazon has strong competitive presence in three large markets, which itself means the company is well positioned to benefit form AI. Shares trade at 34 time earnings and most analysts see the stock as undervalued. The median forecast of $300 per share implies 25% upside from its current price of $239 per share.
So, why did Laffont and Schonfeld sell Amazon? It may have been profit taking, or perhaps they simply saw better buying opportunities elsewhere. Whatever the reason, it would be wrong to assume they lost confidence in the company. Both hedge fund managers still own shares, and Amazon is still Laffont's fifth largest position. Personally, I think Amazon is worth buying at its current price.
iShares Bitcoin Trust: The BlackRock ETF Laffont and Schonfeld bought
Bitcoin has fallen 25% from its record high as macroeconomic uncertainty and geopolitical tensions have led to a rotation away from assets perceived as risky. Also, profit taking and the unwinding of positions built on borrowed money contributed to the drawdown. But the investment thesis has not changed.
Demand for Bitcoin will likely continue increasing because the introduction of spot Bitcoin ETFs (like the iShares Bitcoin Trust) has made it very easy for retail investors and institutional investors to get exposure to the cryptocurrency. And as the most popular and most liquid cryptocurrency, Bitcoin is likely to be the first digital asset that many investors buy.
Indeed, over the past year, the number of BTC held by government agencies increased 25%, and the number of BTC held by public and private companies increased 55%. Meanwhile, the number of large asset managers (those required to file Forms 13F) with positions in the iShares Bitcoin Trust more than doubled, and the number of shares they reported owning more than quadrupled.
Here's the big picture: Bitcoin is notoriously volatile. That the cryptocurrency is currently trading 25% below its record high is nothing out of the ordinary. Of course, that knowledge does not make the experience any more pleasant for investors, but history says Bitcoin will eventually rebound to new highs.
Indeed, the cryptocurrency is arguably cheap right now. Analysts often compare market value (the collective value of all circulating Bitcoin) to thermocap (the collective value of all Bitcoin mining rewards). Bitcoin's market value-to-thermocap ratio is similar to a stock's price-to-book ratio. Bitcoin currently trades at 20 times its thermocap, which is well below the historical average of 50, according to Morgan Stanley.
So, risk-tolerant investors with a long time horizon should consider adding Bitcoin exposure to their portfolio, and the iShares Bitcoin ETF is a cheap and easy way to make that happen.
Should you buy stock in Amazon right now?
Before you buy stock in Amazon, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Amazon wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $474,578!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,628!*
Now, it’s worth noting Stock Advisor’s total average return is 955% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of January 20, 2026.
Trevor Jennewine has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Bitcoin, and iShares Bitcoin Trust. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Billionaires Sell Amazon Stock and Buy a BlackRock ETF That Could Soar Up to 13,500%, According to Wall Street Experts

Key Points
SEI Investments is a fintech that offers clients a turnkey asset management platform.
Analysts rate the stock as a consensus buy, anticipating considerable upside.
The company has strong financials and should benefit from a surge in outsourcing.
SEI Investments (NASDAQ: SEIC) is not a household name in the asset management business, but it is a stock that investors should keep an eye on in 2026.
Asset managers have generally performed well in the past few years, due to the now three-plus-year bull market. Basically, when the markets are up, asset management firms do well because many of their fees are based on assets under management.
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But SEI is not your typical asset manager in the same vein as BlackRock or Vanguard. Those companies serve retail investors as well as institutional investors; SEI mostly caters to institutional investors.
It is widely considered a fintech, because it provides the technology for fund managers, wealth managers, pension funds, investment advisors, banks, and retirement plan sponsors, among others, to handle various functions. These functions include asset management, fund accounting, settlement, back-office operations, transfer services, record keeping, custody, regulatory compliance support, IT support, and cybersecurity.
It offers what is often called a turnkey asset management platform, where it handles pretty much all of these functions for clients. But clients can also pick and choose the services they want on an a la carte basis, or acquire services in bundles.
Analysts see big upside
Wall Street analysts are generally bullish on SEI, as the stock has a 12-month median price target of $109.50 per share, which would represent about 27%. Further, it is rated a buy by 80% of the analysts that cover it.
SEI clearly has some wind at its back, as revenue climbed 8% year over year for the first nine months of 2025, while expenses only rose 5%. Earnings jumped 32% through the first nine months, while its operating margin was 28%, up 8% compared to the first nine months of the previous year. In addition, its return on equity, which is how much profit it makes from every dollar of shareholder equity, is 27.7% -- which is among the highest in the sector.
This gives the firm an abundance of capital to keep investing in its technology and platform. CEO Ryan Hicke said on a recentearnings callthe firm expects to increase its margins in the quarters ahead through continued cost optimization and targeted investments in technology, automation, and talent.
Hicke said the company is seeing a surge in demand for its services as more fund managers and institutional investors are outsourcing these functions.
Part of it is the digital transformation that is going on. It requires constant investment and upgrades by institutional investors to keep their technology up to date, and more and more, they are finding it more efficient to outsource this to fintechs that have already made the investments.
A surge in outsourcing
The other part of it is an increasingly complex regulatory environment. A 2025 report by asset manager Carne Group said the "complicated and convoluted nature of modern investment regulation continues to pose problems for managers," with 98% saying regulation will become more complicated by 2027.
The report also found that fund managers are under greater scrutiny by their clients for things like reporting, transparency, and corporate governance. This is also driving them to outsource. It all adds up to that surging demand.
That same survey found that 88% of fund managers said they planned to increase their use of outsourcing for various functions over the next 12 months.
SEI is not only one of the most efficient companies in its space, it is also one of the big four dominant players, so it stands to gain from the overall increase in outsourcing.
The other big factor is its valuation. Trading at 15 times forward earnings, it is relatively cheap for a fintech. If you are looking for a relatively cheap stock with some significant catalysts for growth and industry-leading efficiency, SEI Investments might be one stock to get to know.
Should you buy stock in SEI Investments right now?
Before you buy stock in SEI Investments, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SEI Investments wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $474,578!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,628!*
Now, it’s worth noting Stock Advisor’s total average return is 955% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of January 19, 2026.
Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Under-the-Radar Fintech Stock Is About to Break Out in 2026, and You've Never Heard of It

Key Points
New spot XRP ETFs have already attracted more than $1 billion from investors.
Ripple, the company behind the XRP token, spent $2.5 billion on blockchain acquisitions last year.
The XRP blockchain ledger could become an integral part of new asset tokenization initiatives.
Every year, expectations are high for XRP (CRYPTO: XRP). Despite the fact that XRP has never traded higher than a price of $3.84, investors continually expect this high-risk, high-upside cryptocurrency to soar in price.
Well, this could be the year that it finally happens. Three important catalysts are on the horizon that could help to send the price of XRP soaring in 2026.
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New spot ETFs
Let's start with the launch of the new spot XRP exchange-traded funds (ETFs) in November 2025. They've already pulled in more than $1 billion from investors, and have seen positive net inflows almost every day they've been available. In other words, they've been a smash hit with investors, leading to a mini-rally in XRP to start off the year.
But $1 billion could be just the start. Last year, JPMorgan Chase (NYSE: JPM) suggested that as much as $8 billion could eventually flow into these ETFs, as a result of all the pent-up demand from institutional investors. If that's the case, then the price of XRP has nowhere to go but up.
New blockchain acquisitions
At the same time, Ripple (the company behind the XRP token) has been actively acquiring new companies in order to build out the XRP blockchain ecosystem. Last year, Ripple spent nearly $2.5 billion on a handful of acquisitions, including a splashy $1.25 billion for Hidden Road, a global institutional prime brokerage.
The thinking here is that 2026 will be a consolidation year for Ripple and XRP. All of those acquisitions will be stitched together into an end-to-end financial product for institutional investors, and all of this will likely be powered by XRP.
It's not yet clear how all this will work, but one thing is certain: These acquisitions will open up many more use cases for the XRP token. Purely on the basis of supply and demand, that should help to stoke the price of XRP.
New asset tokenization initiatives
The XRP blockchain is attempting to become "the blockchain" for real-world asset (RWA) tokenization. To make that a reality, Ripple has already partnered with a number of top financial institutions on RWA projects.
The asset tokenization project that got everyone buzzing last year was a behind-the-scenes collaboration with BlackRock (NYSE: BLK), the world's largest asset manager. BlackRock's tokenized fund for U.S. government debt can now be traded and managed on the XRP blockchain.
While asset tokenization is still in its infancy, it promises to be a multi-trillion-dollar market opportunity. If Ripple can corner even a tiny segment of this market, it could send the price of XRP soaring.
Can XRP hit a new all-time high?
Just keep in mind: Despite all the plans from Ripple to create a new blockchain-based financial infrastructure for the world, XRP has never once traded higher than a price of $3.84. Right now, XRP is trading 45% below its all-time high from eight years ago.
That being said, there's a lot to like about XRP this year. If even one of these catalysts delivers, XRP investors could have a lot to celebrate in 2026.
Should you buy stock in XRP right now?
Before you buy stock in XRP, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $474,578!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,628!*
Now, it’s worth noting Stock Advisor’s total average return is 955% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of January 19, 2026.
JPMorgan Chase is an advertising partner of Motley Fool Money. Dominic Basulto has positions in XRP. The Motley Fool has positions in and recommends JPMorgan Chase and XRP. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Reasons to Watch XRP in 2026

Key Points
After a down year in 2025, Ethereum could be ready to rebound in 2026.
Ethereum's continued dominance in decentralized finance provides an early-mover advantage when it comes to stablecoins and asset tokenization.
New pro-crypto legislation appears to be favorable for Ethereum, given its scale and reach within the blockchain world.
Up 10% to start the year, Ethereum (CRYPTO: ETH) is starting to look like it could have a big year in 2026. In fact, the growing narrative is that Ethereum could be on pace to outperform Bitcoin (CRYPTO: BTC) this year.
The time to buy Ethereum is now, before other investors wake up to its true valuation. Here are two important reasons Ethereum could be headed for a big breakout, perhaps as soon as the second quarter of 2026.
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1. A surge in blockchain activity
One big factor is a distinct surge in overall blockchain activity. Since mid-December, transaction activity on Ethereum is up a whopping 31%. That's a positive sign that recent blockchain upgrades -- such as the Fusaka upgrade in December -- are starting to have an impact.
Moreover, Ethereum remains the focal point of two of the biggest trends in the decentralized finance (DeFi) sector: the rise of stablecoins and the emergence of real-world asset (RWA) tokenization. These are both enormous growth catalysts. Consider, for example, that stablecoin market cap grew by a head-spinning 49% in 2025.
Asset tokenization, too, is seeing enormous growth now that it has been embraced by some of the biggest names on Wall Street. In fact, Tom Lee of Fundstrat is so enamored of the rise of asset tokenization that he called 2025 a "1971 moment" for Ethereum. That's right -- he's comparing Wall Street's embrace of tokenized digital assets to the decision to go off the gold standard in the 1970s.
Of course, Tom Lee is also the chairman of the world's biggest Ethereum treasury company, so he obviously has some skin in the game. But it's impossible to ignore the fact that top consulting firms are calling asset tokenization a potential multitrillion-dollar market opportunity. If that's the case, then the blockchain that becomes the market leader in asset tokenization will soar in value.
2. A pro-crypto regulatory environment
Another big factor for Ethereum is continued momentum around the pro-crypto agenda of the Trump administration. As long as legislation supportive of crypto continues to be passed, Ethereum is going to be one of the biggest beneficiaries, given its reach into nearly every corner of the blockchain and crypto world.
In 2025, for example, new stablecoin legislation (the Genius Act) led to a surge in investor interest around Ethereum, given its status as the No. 1 blockchain for stablecoins. It also led to the rise of Ethereum treasury companies, which began to buy Ethereum coins at a prodigious clip. The result was a remarkable summer rally for Ethereum that led to a new all-time high of nearly $5,000.
The same phenomenon could happen this year with passage of the Digital Asset Market Clarity Act ("Clarity Act"). This groundbreaking new legislation is going to spell out the rules of the road for the crypto industry, and should lead to a further blurring of the lines between traditional financial and blockchain finance. That augurs well for Ethereum, given its prowess in decentralized finance.
The original goal was to have this legislation signed by the end of 2025. That didn't happen due to the federal government shutdown, so the new goal is to have this legislation signed, sealed, and delivered before the 2026 midterm elections.
What to look for in early 2026
There are several key things to look for heading into the second quarter of the year.
First, I'm looking for a splashy new asset tokenization deal in early 2026 that involves a major Wall Street player. The template for this would be something along the lines of the March 2024 launch of the first tokenized fund for BlackRock on the Ethereum blockchain. A similar launch in 2026 would help to demonstrate that RWA tokenization really does have the potential to be a multitrillion-dollar market opportunity.
And I'm keeping my eyes on what's happening in Washington, with the Digital Asset Market Clarity Act. Early signs are that the new market structure bill may need considerably more work before it's ready for a final signature in the White House. But I'm hopeful that lawmakers on both sides of the aisle can figure out a way to get it done.
If all goes according to plan, Ethereum could outperform Bitcoin this year, making it the one cryptocurrency that you need in your portfolio in 2026.
Should you buy stock in Ethereum right now?
Before you buy stock in Ethereum, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ethereum wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $474,578!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,628!*
Now, it’s worth noting Stock Advisor’s total average return is 955% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of January 19, 2026.
Dominic Basulto has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.