Monday, August 28, 2017

US 54 Largest Diversified Investment Management, Brokers, Dealers & Investment Advice Firms With Market Caps Above $1 Bil Total Earnings in the 2Q 2017 Were $13.697 Bil, Up a Very Robust 30% From the $10.561 Bil Total Earnings in the 2Q 2016 ....................................................................................... The Main Driver Here Was Icahn Enterprises, Which Benefited From a $1.5 Bil Gain From the Sale of 27,000 Railcars in the 2Q 2017 ....................................................................................... Excluding Icahn Enterprises, the Total Earnings Growth of These Companies in the 2Q 2017 Dropped From 30% to 10% ..................................................................................... The Giant Berkshire Hathaway, Which Dominates These Companies, Had Its 2Q 2017 US GAAP Earnings of $4.355 Bil Decline By 14% From their 2Q 2016 US GAAP Earnings of $5.082 Bil ....................................................................................... However, Berkshire Hathaway's 2Q 2017 More Relevant Comprehensive Income, Which Also Includes Net Change in Unrealized Appreciation of Investments of a Huge $4.7 Bil Pretax for the 2Q 2017, Was $8.0 Bil, Up a Blistering 82% From Their Comprehesive Income of $4.4 Bil in the 2Q 2016

From a review of the Google Finance Website and of company financial statements in the US SEC website, I found the 54 US Headquartered Diversified Investment Management, Brokers, Dealers and Investment Advice Firms, other than Goldman Sachs and Morgan Stanley, which I already included with the Big 6 Financials, with Stock Market Capitalizations of more than $1 Bil very recently and which have filed their Calendar Second Quarter 2017 Financial Statements with the SEC. 

Below here are the Total Reported US GAAP Earnings (Losses) From Continuing Operations for the Second Calendar Quarters of both 2017 and 2016 for each of these 54 large Financial Companies.






Calendar Calendar







2Q 17 2Q 16



Calendar US GAAP US GAAP Net Net
Diversified Investment Management, Brokers,

Most
2Q 17 Net Net Income Income
Dealers & Investment Advice Firms City State Recent
Month Income Income Better Better
Stock Market Caps Above $1 Bil HQs HQs FYE
End (Loss) (Loss) (Worse) (Worse)





 $ mils  $ mils  $ mils %
June Quarter Ends








Berkshire Hathaway Omaha NE Dec16
June            4,355            5,082             (727) -14%
Icahn Enterprises LP New York NY Dec16
June            1,725             (285)            2,010 NM
KKR New York NY Dec16
June               869               273               596 218%
BlackRock New York NY Dec16
June               867               795                 72 9%
Blackstone Group LP New York NY Dec16
June               745               463               282 61%
Charles Schwab San Francisco CA Dec16
June               575               452               123 27%
Franklin Resources San Mateo CA Sep16
June               459               462                 (3) -1%
Ameriprise Financial Minneapolis MN Dec16
June               393               335                 58 17%
T. Rowe Price Group Baltimore MD Dec16
June               390               211               179 85%
Oaktree Capital Group Los Angeles CA Dec16
June               295               141               154 109%
Invesco Ltd Atlanta GA Dec16
June               250               237                 13 5%
Carlyle Group LP Washington DC Dec16
June               231                 44               187 425%
TD Ameritrade Omaha NE Sep16
June               231               240                 (9) -4%
Affiliated Managers Group West Palm Beach FL Dec16
June               204               184                 20 11%
Apollo Global Management LLC New York NY Dec16
June               193               416             (223) -54%
Interactive Brokers Group Greenwich CT Dec16
June               187               200               (13) -6%
Raymond James Financial St. Petersburg FL Sep16
June               185               133                 52 39%
Ares Capital Corp New York NY Dec16
June               178               157                 21 13%
Lazard Ltd New York NY Dec16
June               121                 81                 40 49%
Ares Management LP Los Angeles CA Dec16
June               114                 87                 27 31%
SEI Investments Oaks PA Dec16
June                 92                 81                 11 14%
Leucadia National Corp New York NY Dec16
June                 74                 71                   3 4%
LPL Financial Holdings Boston MA Dec16
June                 68                 48                 20 42%
Legg Mason Inc Baltimore MD Mar17
June                 64                 45                 19 42%
Federated Investors Inc Pittsburgh PA Dec16
June                 55                 56                 (1) -2%
Stifel Financial Corp St Louis MO Dec16
June                 53                 10                 43 430%
Moelis New York NY Dec16
June                 50                 26                 24 92%
Artisan Partners Asset Management Milwaukee WI Dec16
June                 49                 43                   6 14%
Morningstar Chicago IL Dec16
June                 46                 32                 14 44%
Main Street Capital  Corp Houston TX Dec16
June                 43                 31                 12 39%
Janus Henderson Group plc Denver CO Dec16
June                 42                 40                   2 5%
AllianceBernstein Holding New York NY Dec16
June                 42                 39                   3 8%
Houlihan Lokey Los Angeles CA Mar17
June                 39                 19                 20 105%
MarketAxess Holdings New York NY Dec16
June                 38                 33                   5 15%
Och-Ziff Capital Mgt Group LLC New York NY Dec16
June                 36             (194)               230 NM
Hercules Capital Palo Alto CA Dec16
June                 33                   9                 24 267%
Fortress Investment Group LLC New York NY Dec16
June                 32               (27)                 59 NM
Apollo Investment Corp New York NY Mar17
June                 29               (42)                 71 NM
New Mountain Finance New York NY Dec16
June                 27                 45               (18) -40%
Evercore Partners Inc New York NY Dec16
June                 26                 34                 (8) -24%
Hamilton Lane Bala Cynwyd PA Dec16
June                 26                 16                 10 63%
Waddell & Reed Financial Overland Park KS Dec16
June                 24                 34               (10) -29%
Cohen & Steers Inc New York NY Dec16
June                 23                 25                 (2) -8%
Golub Capital BDC Inc New York NY Sep16
June                 20                 18                   2 11%
FS Investment Corp Philadelphia PA Dec16
June                 18               140             (122) -87%
TCG BDC Inc New York NY Dec16
June                 16                 26               (10) -38%
OM Asset Management plc Boston MA Dec16
June                 14                 35               (21) -60%
TPG Specialty Lending Inc Fort Worth TX Dec16
June                 14                 16                 (2) -13%
Financial Engines Inc Sunnyvale CA Dec16
June                 13                   9                   4 44%
WisdomTree Investments New York NY Dec16
June                 12                   4                   8 200%
Virtu Financial New York NY Dec16
June                   4                 39               (35) -90%
PJT Partners Inc New York NY Dec16
June                 (1)                 (5)                   4 NM
BGC Partners Inc New York NY Dec16
June               (69)                 28               (97) NM










Total all 53 With June Quarter Ends




         13,619          10,492            3,127 30%










April or May Quarter Ends








Eaton Vance Boston MA Oct16
Apr17                 78                 69                   9 13%










Total all 54 With April, May or June Quarter Ends



         13,697          10,561            3,136 30%