Brookfield Asset Management
BAM on NYSE. Brookfield Asset Management invests its clients' money in credit, real estate, and infrastructure loans. Market value $23.2bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
We don't have this figure for this company.
What you pay for each dollar of net assets: $7.86.
Profit per $100 you pay: $4.24.
Quality score: not known. Price score: 26 of 100. Our list needs 70 on quality and 60 on price.
$45.21 a share, 7% above its 1-year low
Over the past year the price has ranged from $42.20 to $59.33.
Dividend: 3.9% a year
Paid every year for 3 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||
| Revenue | $4.1bn | $4.0bn | $4.8bn |
| Operating margin | |||
| Operating margin | n/a | n/a | n/a |
| Debt to equity | |||
| Debt to equity | n/a | n/a | n/a |
| Shares outstanding | |||
| Shares outstanding | 0.40bn | n/a | n/a |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsUnknown
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.8 billion last quarter, up 61% on a year ago.
- Profit: $1.2 billion, up 101% on a year ago.
| Quarter to | Amount |
|---|---|
| December 2023 | Not reported |
| December 2024 | Not reported |
| March 2025 | $1.1bn |
| June 2025 | $1.1bn |
| September 2025 | $1.3bn |
| December 2025 | $1.4bn |
| March 2026 | $1.3bn |
| June 2026 | $1.8bn |
| Quarter to | Amount |
|---|---|
| December 2023 | Not reported |
| December 2024 | Not reported |
| March 2025 | $507m |
| June 2025 | $584m |
| September 2025 | $692m |
| December 2025 | $560m |
| March 2026 | $586m |
| June 2026 | $1.2bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 2 March 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
13 long-term investors we follow own it, unchanged from 13 last quarter. 620 funds in all.
- Cooke & BielerCooke & Bieler partners
- Value
- $137m
- Share of fund
- 1.6%
- Markel GroupTom Gayner
- Value
- $98m
- Share of fund
- 0.7%
- Fenimore Asset Management (FAM Funds)John Fox
- Value
- $41m
- Share of fund
- 0.8%
- Broad Run Investment ManagementDavid Firestone
- Value
- $27m
- Share of fund
- 4.2%
- Horizon KineticsMurray Stahl
- Value
- $8m
- Share of fund
- <0.1%
- Moerus Capital ManagementAmit Wadhwaney
- Value
- $2m
- Share of fund
- 0.8%
- GMOJeremy Grantham
- Value
- $802,815
- Share of fund
- <0.1%
- Gotham Asset ManagementJoel Greenblatt
- Value
- $494,471
- Share of fund
- <0.1%
- GoodHaven Capital ManagementLarry Pitkowsky
- Value
- $254,434
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Beutel GoodmanBeutel Goodman team | $205m | 1.5% | Cut |
| Cooke & BielerCooke & Bieler partners | $137m | 1.6% | |
| Markel GroupTom Gayner | $98m | 0.7% | |
| First Manhattan Co.First Manhattan partners | $48m | 0.1% | Cut |
| Fenimore Asset Management (FAM Funds)John Fox | $41m | 0.8% | |
| Broad Run Investment ManagementDavid Firestone | $27m | 4.2% | |
| Marathon Asset ManagementNeil Ostrer | $13m | 0.5% | Cut |
| Horizon KineticsMurray Stahl | $8m | <0.1% | |
| Century ManagementArnold Van Den Berg | $3m | 0.6% | Added |
| Moerus Capital ManagementAmit Wadhwaney | $2m | 0.8% | |
| GMOJeremy Grantham | $802,815 | <0.1% | |
| Gotham Asset ManagementJoel Greenblatt | $494,471 | <0.1% | |
| GoodHaven Capital ManagementLarry Pitkowsky | $254,434 | <0.1% |
Largest holders overall
- Brookfield$53.5bn
- Partners Value Investments L.P.$1.3bn
- Royal Bank of Canada$954mAdded
- Principal Financial Group$608mAdded
- Capital World Investors$605mAdded
- Vanguard Capital Management$521m
- Mackenzie Financial$493mCut
- TD Asset Management$486mCut
- Bank of Montreal /can$482mAdded
- Capital International Investors$344m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- at least 72.8%−0.1 pts(filed with 1 related holder)Since 1 April 2026
What they said
Item 4 of the Schedule 13D is hereby supplemented as follows: On April 2, 2026, BWS BAM Financing LP (the "Borrower"), as borrower, and certain subsidiaries of BNT, as guarantors, entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent,…
Read the filing - Sold down below 5%Since 4 February 2025
What they said
Item 4 of the Original Schedule 13D is hereby amended and restated as follows: On February 4, 2025, the Corporation and the Issuer completed a plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) pursuant to which, among other…
Read the filing - Capital World InvestorsPassive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
at least 72.8%−0.1 pts (filed with 1 related holder) | 1 April 2026 | What they saidItem 4 of the Schedule 13D is hereby supplemented as follows: On April 2, 2026, BWS BAM Financing LP (the "Borrower"), as borrower, and certain subsidiaries of BNT, as guarantors, entered into a margin loan agreement with Royal Bank of Canada, as lender and administrative agent,… Read the filing | |
Sold down below 5% | 4 February 2025 | What they saidItem 4 of the Original Schedule 13D is hereby amended and restated as follows: On February 4, 2025, the Corporation and the Issuer completed a plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) pursuant to which, among other… Read the filing | |
Capital World Investors Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
We have no insider filings for this company yet.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 2 Mar 2026, plus the 10-Q filed 10 Aug 2026 and 27 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.