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Investors interested in Financial - Miscellaneous Services stocks are likely familiar with Inter & Co. Inc. (INTR) and Brookfield Asset Management (BAM). But which of these two stocks is more attractive to value investors?

Bloom Energy (BE -3.97%) and GE Vernova (GEV +0.05%) have become two of the biggest beneficiaries of the artificial intelligence (AI) infrastructure build-out. Both are helping solve the same problem: the insatiable demand for electricity for new AI data centers. But they approach that opportunity very differently. And if I had $5,000 to invest in just one today, I'd choose GE Vernova. Here's why.

One builds power systems, the other builds the grid Bloom Energy specializes in solid oxide fuel cells that generate electricity on-site. These are becoming increasingly valuable as utilities struggle to connect new data centers to the grid. And indeed, demand has exploded.

Image source: Getty Images.

In Q2 2026, Bloom reported record revenue of $1.1 billion, up 166% year over year, while product revenue surged 215%. Gross margin expanded to 33%, and management raised its full-year revenue forecast to roughly $3.9 billion to $4.2 billion as AI-related demand continues to accelerate.

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The company's fuel cells allow hyperscalers to deploy power much faster than waiting years for new grid connections. That's a compelling value proposition. The problem is that investors are already paying Bloom's anticipated stock price in the future today. The company is growing rapidly, but the stock already reflects years of expected AI demand. To justify that premium, Bloom will likely need to keep delivering outstanding results well into the future.

GE Vernova, on the other hand, participates across much more of the power ecosystem. The company manufactures gas turbines, grid equipment, transmission technologies, electrification systems, and software that utilities use to modernize power networks. In other words, GE Vernova doesn't simply help generate electricity. It helps move it.

AI needs more than backup power One misconception surrounding AI infrastructure is that electricity generation alone solves the problem. It doesn't. Data centers also require substations, transformers, switching gear, transmission upgrades, and grid modernization. In many cases, those projects take longer than constructing the data center itself. That's where GE Vernova has a significant advantage.

Whether electricity comes from natural gas, nuclear, renewables, or Bloom's fuel cells, the power still has to flow through transmission and distribution equipment before reaching customers. So the company is benefiting from demand across virtually every segment of the power value chain.

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Demand is real GE Vernova's Q2 results highlight just how broad that demand has become. Revenue increased 22% year over year to $11.1 billion, while orders jumped 88%. The company finished the quarter with about $176 billion in order backlog, raised its full-year revenue projection to $45.5 billion to $46.5 billion, and increased expected free cash flow to $11.5 billion to $12.5 billion.

Those aren't numbers driven by a single product. They're being supported by demand for gas turbines, electrification equipment, grid modernization, and long-term service contracts. And that's not a trivial side note to gloss over.

Diversification matters Of course, that doesn't mean Bloom is a poor investment. In fact, it could easily outperform if hyperscalers continue adopting on-site power generation at today's pace. The company has built strong relationships with major customers, including Oracle (ORCL +2.74%) and Brookfield Asset Management (BAM +0.67%), continues expanding partnerships aimed at financing AI infrastructure, and has established itself as one of the fastest-growing companies serving the AI power market.

But Bloom also depends heavily on distributed power for AI, while GE Vernova has multiple ways to win. Utilities need new gas turbines. Transmission operators need grid upgrades. Industrial customers need electrification equipment. AI data centers need all of the above. That diversification reduces execution risk while still letting you to participate in one of the largest infrastructure build-outs in decades.

The better $5,000 investment Both companies should benefit from rising electricity demand. Bloom likely offers higher growth and potentially greater upside if distributed generation becomes the dominant solution for AI data centers. GE Vernova, however, offers exposure to nearly every major piece of the power infrastructure puzzle. If you're thinking long-term, that's the better risk-reward profile.

Make no mistake: AI isn't simply creating demand for more electricity. It's forcing the world to rebuild much of the infrastructure that delivers it. GE Vernova sits at the center of that transformation, making it the stock I'd buy today.

Brookfield Asset Management's trajectory for 15%+ annual dividend growth over the next several years remains in place. The alternative asset manager's momentum continues, with $98 billion in fundraising in the first half of 2026 and BAM raising $163 billion over the last 12 months. The company possesses respective A- and A credit ratings with stable outlooks from S&P and Fitch.

New USD $605 million Brookfield-led financing accelerates the development of Gigascale AI campuses across the continent.

, /PRNewswire/ -- (version française) 5C Group, a developer, builder and operator of large-scale AI data center campuses, today announced the closing of USD $605 million in new debt financing led by Brookfield Asset Management. This follows the USD $835 million in equity and debt capital 5C raised in 2025 as well as additional capital that 5C raised prior to 2025. Combined, this capital is fueling 5C's growth and expanding its AI infrastructure platform across North America.

5C delivers AI factories: large-scale, high-performance campuses where compute, power, cooling, networking, software, and operations are engineered together for performance, reliability, and scale. This integrated approach supports the increasingly dense and complex AI workloads while adapting to advances in GPU architecture, liquid cooling, rack-scale systems, and evolving AI deployment models.

The new capital will allow 5C to accelerate development across its portfolio of priority sites, fund the acquisition and construction of its Memphis campus, as well as support the development and expansion of its Ohio and Phoenix campuses, as they reach key commercial and investment milestones.

"This financing reflects strong confidence in 5C's strategy and our ability to execute at scale," said Jonathan Ahdoot, Chief Executive Officer of 5C. "It strengthens our ability to build next-generation AI infrastructure while investing for the long term in communities."

"We are pleased to expand our partnership with 5C and support the continued growth of its AI infrastructure platform," said Hamish Kidd, Managing Partner, Investments – Infrastructure, Brookfield Asset Management. "5C combines strong execution capabilities with a long-term approach to developing critical digital infrastructure, and we believe its North American campuses are well positioned to support growing demand for advanced AI capacity."

About 5C
5C Group is one of North America's largest AI digital infrastructure providers. The company delivers purpose-built infrastructure for AI with a network of state-of-the-art data centers. With over 1.5 gigawatts of roadmap capacity and the ability to power hundreds of thousands of GPUs, 5C Group delivers secure, reliable, and sustainable data center and AI infrastructure solutions at scale for the largest AI users with the most demanding workloads. For more information, please visit www.5c.ai.

About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.

SOURCE 5C Group

Brookfield Asset Management is rated a buy, supported by robust Q2 earnings, record fundraising, and accelerating AI infrastructure investments. BAM reported fee-related earnings up 20% year-over-year, record $77 billion fundraising, and significant growth in fee-bearing capital and margins. Strategic AI partnerships and acquisitions position BAM to benefit from global AI infrastructure buildout, leveraging its balance sheet strength and $149 billion dry powder.

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Picture a retiree who bought LXP Industrial Trust (NYSE: LXP) years ago for the dividend, sat through two market crashes, and had no intention of selling. Then in July, LXP agreed to a $5.2 billion all-cash merger with affiliates of Brookfield Asset Management (NYSE: BAM) | BAM Price Prediction and Canada Pension Plan Investment Board (CPPIB). The buyers will pay $61.20 per share, with the deal expected to close by the end of 2026. Anyone holding the stock in a taxable account when the transaction closes receives cash, whether they wanted to sell or not. LXP shareholders are not alone.

Last month, Utz Brands (NYSE: UTZ), the snack maker behind Zapp’s and Boulder Canyon, agreed to be taken private by Germany’s Intersnack Group in a $2.9 billion transaction. Public shareholders will receive $14.25 per share if the deal closes as expected in the fourth quarter. The names are different. The retirement mechanic is the same. An all-cash acquisition creates a sale in a tax year the shareholder did not choose, potentially reshaping the taxation of Social Security and the cost of Medicare.

Details That Move the Needle One useful clarification up front: capital gains do not count toward Social Security’s retirement earnings test. That test counts wages and net self-employment income. A retiree claiming before full retirement age does not lose benefits because a buyout converted stock into cash.

The gain can still affect the household in two other ways.

First, it raises provisional income, the figure used to determine how much of a Social Security benefit becomes taxable. For single filers, up to 50% of benefits may be taxable once provisional income exceeds $25,000, and up to 85% above $34,000. For joint filers, the corresponding thresholds are $32,000 and $44,000. Those figures have not been indexed for inflation. A substantial capital gain can therefore push as much as 85% of the benefit into taxable income for the year. That does not mean Social Security is taxed at an 85% rate. It means up to 85% of the benefit is included in taxable income.

Second, the gain raises modified adjusted gross income (MAGI) used for Medicare’s Income-Related Monthly Adjustment Amount, or IRMAA. Medicare generally looks back two years, so a transaction closing in 2026 would ordinarily affect 2028 Part B and Part D premiums. IRMAA uses brackets, meaning a relatively small amount of additional income can trigger the full surcharge associated with the next tier.

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Where the Retirement Picture Bends Assume the LXP shareholder owns 2,000 shares with an adjusted basis of approximately $20 each. At $61.20, the transaction produces an illustrative long-term gain of $82,400.

Stack that gain on top of Social Security, a pension, and required minimum distributions (RMDs), and it could place more of the benefit in the taxable column. It may also cross an IRMAA threshold and, for sufficiently high-income households, trigger the 3.8% Net Investment Income Tax.

The income he bought the stock to produce is disappearing, too. LXP suspended its $0.70 quarterly common dividend under the merger agreement. The dividend stops before the capital-gains tax and any Medicare surcharge arrive.

What to Do Before Year-End Two moves carry most of the weight:

Manage the remaining income levers. Consider postponing a discretionary Roth conversion or optional IRA withdrawal, and review the taxable portfolio for losses that could offset part of the gain. The merger cannot be undone after closing, but the household’s total 2026 income may still be manageable before December 31. Budget for a possible 2028 Medicare increase. The applicable thresholds have not been released, so use the latest IRMAA table as a planning guide and leave room below the next bracket. Do not assume Form SSA-44 will erase the gain. A stock acquisition is not itself a qualifying life-changing event, although a separate retirement or work stoppage may support an appeal under the applicable rules. Shares held inside an IRA do not create an immediate capital gain when converted to cash. In a taxable account, however, the shareholder’s adjusted basis and the closing date determine the result. The company chose when to sell. The retiree still has a few months to decide what else lands on the same tax return.

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American Tungsten & Antimony Ltd (ASX:AT4, OTCQB:ATALF, FRA:4VZ) has begun planning for the restart and potential expansion of the Del Sol Refinery in Nevada, alongside exploration and feedstock work at the White Spar Antimony Mine in Arizona.

The work remains conditional on completion of AT4’s proposed acquisition of both assets, announced on July 28 2026. Subject to completion and funding, the company intends to begin restarting Del Sol’s antimony flake circuit during the September 2026 quarter using feedstock from White Spar. 

Restart and expansion work advances Chief executive officer Casper Adson and the Del Sol operating team have assessed the refinery’s plant condition, staffing requirements, laboratory capability and the sequence of work needed to restart and potentially expand the operation.

The restart is planned in phases, with initial batches intended to establish circuit performance before throughput is progressively increased. Operating data will be collected across recovery, reagent consumption, power use, product purity, labour requirements and maintenance intervals.

AT4 expects the information to support expansion engineering, prospective customer qualification and potential applications for US Government funding, including Defense Logistics Agency and Defense Production Act programs. The company has not received any federal funding and has given no assurance that future applications will be successful. 

Requests for proposal have also been issued to international engineering firms covering increased antimony flake capacity and the potential addition of circuits producing Regulus II antimony metal, antimony trisulphide, sodium antimonate and ammonium paratungstate.

No scoping, pre-feasibility or feasibility study has been completed for the proposed expansion, and no capital or operating cost estimates have been prepared.

Del Sol and White Spar work program Del Sol is permitted to process up to 18,500 short tons of feed annually and sits on about 40 acres of privately owned land, including roughly 10 acres identified as potentially available for development.

AT4 has held a pre-application meeting with the Nevada Division of Environmental Protection regarding a possible increase in permitted capacity to approximately 100,000 short tons per year and the addition of ammonium paratungstate production. These figures represent regulatory limits rather than production targets or forecasts. 

At White Spar, the company plans metallurgical test work, geological mapping, expanded sampling and, subject to approvals, a maiden drilling program. AT4 also intends to extract a bulk sample for concentration and processing through the Del Sol circuit to assess the mine-to-refinery pathway.

No JORC-compliant Mineral Resource or Ore Reserve has been estimated for White Spar.

About American Tungsten & Antimony American Tungsten & Antimony is advancing critical minerals projects in the United States, including the Antimony Canyon Project in Utah and the Tennessee Mountain Tungsten Project in Nevada.

The company is pursuing a vertically integrated strategy spanning mine development, processing and production of antimony and tungsten products for Western markets. Its planned acquisition of Del Sol and White Spar has not yet completed and remains subject to conditions. 

Brookfield Asset Management (BAM - Free Report) came out with quarterly earnings of $0.44 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this investment manager would post earnings of $0.42 per share when it actually produced earnings of $0.43, delivering a surprise of +2.38%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Brookfield, which belongs to the Zacks Financial - Miscellaneous Services industry, posted revenues of $1.49 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.51%. This compares to year-ago revenues of $1.29 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Brookfield shares have lost about 0.9% since the beginning of the year versus the S&P 500's gain of 13%.

What's Next for Brookfield?While Brookfield has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Brookfield was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.47 on $1.54 billion in revenues for the coming quarter and $1.85 on $6.05 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial - Miscellaneous Services is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, HA Sustainable Infrastructure Capital (HASI - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.

This provider of financing for sustainable infrastructure projects is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of +21.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

HA Sustainable Infrastructure Capital's revenues are expected to be $18.1 million, up 269.4% from the year-ago quarter.

Fundraised a Record $77 Billion in the Second Quarter; $98 Billion Year-to-Date QuarterlyFee-Related Earnings of $808 Million, Up 20% Year-Over-Year Quarterly Distributable

Earnings of $707 Million, Up 15% Year-Over-Year

Advanced our Leadership Position in AI Infrastructure, Energy and Retirement Services Through Several Strategic Partnerships

NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) (“BAM”), a leading global alternative asset manager headquartered in New York with over $1 trillion of assets under management, today announced financial results for the quarter ended June 30, 2026.

Connor Teskey, CEO of Brookfield Asset Management, stated, "We delivered a strong second quarter, with record fundraising of $77 billion, led by private equity, infrastructure, and credit. Fee-related earnings grew 20% to $808 million, and fee-bearing capital reached $672 billion, up 19% year-over-year, delivering performance above our long-term targets. Together with the continued momentum across the broader business, we expect our best year ever."

He continued, "Our ability to fundraise across the largest and most diverse pools of global capital and deploy into the largest and most attractive investment themes continues to accelerate. The current environment is increasing demand for high-quality real assets and essential service businesses. Further, our recent acquisition of the remainder of Oaktree strengthens our credit platform, enables us to deliver the full breadth of Brookfield’s capabilities to clients, and positions us well to capitalize on opportunities that may emerge through credit cycles.”

Common Dividend Declaration

The board of directors of BAM declared a quarterly dividend of $0.5025 per share, payable on September 29, 2026, to shareholders of record as of the close of business on August 31, 2026.

Financial Results

In the second quarter, we delivered strong results, driven by record capital inflows and strong deployment.       

 Three Months Ended
Twelve Months Ended
Unaudited
For the periods endedJune 30June 30June 30June 30(US$ millions, except per share amounts) 2026 2025 2026 2025Fee-related earnings1$808$676$3,201$2,695Fee-related earnings per share$0.50$0.42$1.97$1.65Distributable earnings1$707$613$2,837$2,535Distributable earnings per share$0.44$0.38$1.75$1.56Net income$1,172$584$3,065$2,308See end notes

Net income was $1.2 billion in the quarter and $3.1 billion over the last twelve months.

Fee-related earnings (“FRE”) increased 20% to $808 million or $0.50 per share for the quarter and 19% to $3.2 billion, or $1.97 per share over the last twelve months.

Distributable earnings (“DE”) were $707 million, or $0.44 per share in the quarter and $2.8 billion, or $1.75 per share over the last twelve months, up 15% and 12%, respectively.

Operating Results

Fee-bearing capital grew to $672 billion, up 19% year-over-year, as a result of $163 billion of fundraising in the past twelve months. Our second quarter fundraising of $77 billion was driven by flagship strategies and a large investment management mandate. The seventh vintage of our private equity flagship strategy raised $6.7 billion and the sixth vintage of our infrastructure flagship strategy raised $9.3 billion. Both funds are on track to be the largest vintage of their respective strategy.

A growing set of strong investment opportunities continued to support robust capital deployment, with $21 billion invested across our business during the quarter. We also monetized $11 billion in the quarter from the sale of high quality assets at attractive valuations and advanced several other monetization transactions.

Highlights of our activities across each of our business groups in the second quarter include:

Infrastructure

Fundraising: We raised $10 billion, including $7.9 billion for our infrastructure flagship strategy, $900 million for our supercore infrastructure strategy, and $900 million for our infrastructure private wealth strategy. The flagship is targeting its first close this year, with additional closes expected thereafter. In addition, we held a first close in our AI infrastructure strategy, bringing total commitments to date to $5 billion.
Deployment: We deployed $3.3 billion, including $1.7 billion for the acquisition of a leading U.S. fiber to the home business and a $1.0 billion investment for incremental funding on construction of a U.S. semiconductor fabrication facility.Monetization: In July, we monetized a portion of our investment in a leading data center infrastructure platform through its IPO, raising over $1 billion in proceeds. Energy

Fundraising: We raised $2.5 billion, including $1.4 billion for our infrastructure flagship strategy.Deployment: We deployed $1.0 billion across several renewable investments. In July, we also committed approximately $3.0 billion to acquire the largest standalone energy storage business in North America expected to close later this year. Private Equity

Fundraising: We raised $8.6 billion, primarily driven by $6.7 billion for our private equity flagship strategy and capital raised for the Middle East private equity and financial infrastructure strategies.Deployment: We deployed $1.4 billion and signed an agreement to acquire the world’s largest air freight services provider, which is expected to close later this year.Monetization: We signed an agreement to sell our investment in a specialized engineering firm, and subsequent to the end of the quarter, we sold a stake in a leading alternative asset manager in Australia.
Real Estate

Fundraising: We raised $4.3 billion across our real estate strategies, including nearly $700 million for the geographic sleeves of our flagship strategy and $3.0 billion from separately managed accounts and co-investment. Deployment: We deployed $5.2 billion, including the acquisition of the largest privately held U.S. manufactured home portfolio and the take-private of a publicly-traded outdoor industrial storage portfolio.
Credit

Fundraising: We raised $51 billion of capital, including $45 billion from Brookfield Wealth Solutions, inclusive of the $40 billion Just Group mandate. We also raised $6.0 billion across Oaktree and our other partner managers and approximately $600 million for our infrastructure debt strategy. Deployment: We deployed $10 billion, across our credit strategies, including $1.9 billion for opportunistic credit strategies. In July, we announced an investment in a Middle Eastern pipeline company for $3.0 billion.
Strategic Initiatives and Partnerships

This year, we continued to advance a number of strategic initiatives that strengthen our competitive position, expand our distribution capabilities and reinforce our leadership across AI infrastructure, power and private markets.

In July, completed our acquisition of Oaktree, marking the next step in a partnership that began in 2019 and fully integrating Oaktree into Brookfield’s broader platform.Formed a strategic partnership with OpenAI to accelerate enterprise AI adoption by deploying its technology and engineering capabilities across our industrial and manufacturing businesses.Expanded our strategic partnership with Bloom Energy from $5 billion to $25 billion to finance rapidly deployable power solutions for AI infrastructure.Announced a strategic partnership with the U.S. Department of Energy (“DOE”) to accelerate the deployment of Westinghouse nuclear reactor technology, supported by funding of $17.5 billion from the DOE. Expanded our AI infrastructure framework agreement with the French government from €20 billion to €30 billion to enable sovereign AI infrastructure. Announced a partnership with two global technology leaders to invest in AI cloud infrastructure that will expand Korea’s sovereign AI factory infrastructure and power AI companies in Korea and the U.S.Selected as AllianceBernstein’s partner to distribute our real asset strategies through target-date funds, further enhancing our presence in the U.S. defined contribution market.In July, announced a $100 billion plan to develop an AI data center campus at the U.S. DOE’s Paducah, Kentucky site, in partnership with a leading North American energy company. Repurchased $200 million of BAM shares during the quarter. Uncalled Fund Commitments and Liquidity

As of June 30, 2026, we had $149 billion of uncalled fund commitments, $68 billion of which will generate approximately $680 million of annual fees once deployed. We had corporate liquidity of $3.1 billion as of June 30, 2026, comprised of cash reserved for the purchase of Oaktree, short term financial assets, and undrawn capacity on our revolving credit facility.

During the quarter, we issued $1.0 billion of senior notes, comprised of $550 million of five-year senior unsecured notes with a coupon of 4.832% and $450 million of ten-year senior unsecured notes with a coupon of 5.298%.

End Notes
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1. See Reconciliation of Net Income to FRE and DE on page 8 and Non-GAAP and Performance Measures section on page 10.
2. Other income includes BAM's portion of equity method investments’ realized carried interest, investment income, interest expense and other items.       
 

Brookfield Asset Management
Balance Sheets
Unaudited
As of
(US$ millions)June 30
2026December 31
2025Assets    Cash and cash equivalents$1,503$1,583Accounts receivable and other845750Investments10,3609,795Investments of consolidated funds3,090505Due from affiliates3,1983,280Deferred income tax assets and other assets1,0841,134Total assets$20,080$17,047     Liabilities    Accounts payable and other$2,663$2,908Corporate borrowings3,4662,478Borrowings of consolidated funds589462Due to affiliates1,244720Due to affiliates of consolidated funds36—Deferred income tax liabilities214169Total liabilities8,2126,737   Preferred shares redeemable non-controlling interest1,2381,398Redeemable non-controlling interest in consolidated funds1,442—   Equity9,1888,912   Total liabilities and equity$20,080$17,047 Brookfield Asset Management
Statements of Operations
       Three Months Ended 
 Six Months Ended
 Unaudited
For the periods endedJune 30 June 30 June 30 June 30 (US$ millions, except per share amounts)2026 2025 2026 2025 Revenues                         Base management and advisory fees$ 919 $    815 $ 1,779 $ 1,652 Incentive fees128 116 258 233 Carried interest income553 (63)665 (61)Other revenues153 222 389 347 Total revenues1,753 1,090 3,091 2,171          Expenses
        Compensation and operating (548) (504) (1,023) (847)Interest(60)(37)(107)(50)Carried interest allocation compensation(51)(16)(262)(162)Total expenses(659)(557)(1,392)(1,059)Other income (expenses)41 (55)62 (110)Share of income from equity method investments199 181 269 239 Income before taxes1,334 659 2,030 1,241 Income tax expense(162)(75)(272)(150)Net income1,172 584 1,758 1,091 Net (income) loss attributable to non-controlling interests(268)36 (237)110 Net income attributable to BAM$           904 $           620 $        1,521 $       1,201 Net income attributable to BAM per share            Basic$0.56 $0.38 $0.95 $0.74 Diluted$          0.56 $          0.38 $          0.94 $          0.74 
SELECT FINANCIAL INFORMATION

RECONCILIATION OF NET INCOME TO FEE-RELATED EARNINGS AND DISTRIBUTABLE EARNINGS

 Three Months Ended
 Six Months Ended
 Unaudited
For the periods endedJune 30 June 30 June 30 June 30 (US$ millions)2026 2025 2026 2025 Net income$      1,172 $         584 $      1,758 $      1,091 Add or subtract the following:        Provision for taxes1162 75 272 150 Depreciation and amortization220 11 40 14 Carried interest allocations3(553)63 (665)61 Carried interest allocation compensation351 16 262 162 Other income and expenses4(41)55 (62)110 Interest expense560 37 107 50 Interest and dividend revenue5(36)(42)(65)(62)Other revenues6(117)(197)(324)(312)Share of income from equity method investments7(199)(181)(269)(239)Fee-related earnings of equity method investments at our share7170 103 314 209 Compensation costs recovered from affiliates8101 137 168 129 Other adjustments918 15 44 11 Fee-related earnings808 676 1,580 1,374 Add: Investment & other income (net of interest expense)10(27)14 (16)47 Add: Equity-based compensation costs1023 11 37 25 Less: Cash taxes11(97)(88)(192)(179)Distributable earnings$         707 $         613 $      1,409 $      1,267  This adjustment removes the impact of income tax provisions on the basis that we do not believe this item reflects the present value of the actual tax obligations that we expect to incur over the long-term due to the substantial deferred tax assets of BAM.This adjustment removes the depreciation and amortization on property, plant and equipment and intangible assets, which are non-cash in nature and therefore excluded from FRE as well as certain capital depreciation costs recharged from BAM's affiliates.These adjustments remove the impact of both unrealized and realized carried interest allocations and the associated compensation expense. Unrealized carried interest allocations and associated compensation expense are non-cash in nature. Carried interest allocations and associated compensation costs are included in DE once realized.This adjustment removes other income and expenses associated with fair value changes for consolidated entities and funds.This adjustment removes interest and charges paid or received by consolidated entities and funds.This adjustment adds back other revenues earned that are non-cash in nature.These adjustments remove our share of equity method investments' earnings, including items 1) to 6) above and include its share of equity method investments' fee-related earnings.This item adds back compensation costs that will be borne by affiliates.This adjustment adds base management fees earned from funds that are eliminated upon consolidation and other items.This adjustment adds back equity-based compensation and other income associated with BAM’s portion of equity method investments' realized carried interest, investment income and other items.Represents the impact of cash taxes paid by the business.
RECONCILIATION OF BASE MANAGEMENT AND ADVISORY FEES TO FEE REVENUES                  

 Three Months Ended
 Six Months Ended
 Unaudited
For the periods endedJune 30June 30 June 30June 30 (US$ millions)20262025 20262025 Base management and advisory fees$919$              815 $1,779$          1,652 Incentive fees1128116 258233 Fee revenues from equity method investments2439358 861717 Other adjustments38(4)22(17)Fee revenues$1,494$          1,285 $2,920$          2,585  This adjustment adds incentive distributions that are included in fee revenues.This adjustment adds Oaktree management fees at 100% ownership and our proportionate share of partner manager earnings.This adjustment involves base management fees earned from funds that are eliminated upon consolidation and other items.
Additional Information

Shareholders are encouraged to review additional information about Brookfield Asset Management’s results, available on our website under the “Reports & SEC Filings” section at bam.brookfield.com. The Supplemental for the three months and twelve months ended June 30, 2026 is available today and provides further detail on the company’s strategy, operations and financial results. Our Second Quarter 2026 shareholder letter will be published on August 13, 2026, providing discussion on some of the major themes shaping Brookfield’s long-term strategy and outlook.

The statements contained herein are based primarily on information that has been extracted from our financial statements for the quarter ended June 30, 2026, which have been prepared using U.S. GAAP. The amounts have not been audited by BAM’s external auditor.

BAM’s Board of Directors has reviewed and approved this document, including the summarized unaudited consolidated financial statements, prior to its release.

Information on our dividends can be found on our website under the “Share Information” section at bam.brookfield.com.

Quarterly Earnings Call Details

Investors, analysts and other interested parties can access BAM’s Second Quarter 2026 Results as well as the Supplemental Information on its website under the “Reports & SEC Filings” section at bam.brookfield.com.

To participate in the Conference Call today at 10:00 a.m. ET, please preregister at https:// register-conf.media-server.com/register/BI25c79b4fce1542938abfce53ebcca730.

Upon registering, you will be emailed a dial-in number, and unique PIN.

The Conference Call will also be webcast live at https://edge.media-server.com/mmc/p/bqd6oehs. For those unable to participate in the Conference Call, the telephone replay will be archived and available for 90 days, or on our website at bam.brookfield.com.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.

Please note that Brookfield Asset Management Ltd.’s previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in the investor section of its website at bam.brookfield.com. Hard copies of the annual and quarterly reports can be obtained free of charge upon request.

For more information, please visit our website at www.brookfield.com or contact:

Non-GAAP and Performance Measures of our Asset Management Business

This news release and accompanying financial information are based on generally accepted accounting principles in the United States of America (“U.S. GAAP”).

We make reference to Distributable Earnings (“DE”), which is referring to the sum of its fee-related earnings, realized carried interest, realized principal investments, interest expense, and general and administrative expenses; excluding equity-based compensation costs and depreciation and amortization. The most directly comparable measure disclosed in the primary financial statements of Brookfield Asset Management for DE is net income. This provides insight into earnings received by the company that are available for distribution to common shareholders or to be reinvested into the business.

We use Fee-Related Earnings (“FRE”) and DE to assess our operating results and the value of Brookfield’s business and believe that many shareholders and analysts also find these measures of value to them.

We disclose a number of financial measures in this news release that are calculated and presented using methodologies other than in accordance with U.S. GAAP. These financial measures, which include FRE and DE, should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with U.S. GAAP. We caution readers that these non-GAAP financial measures or other financial metrics are not standardized under U.S. GAAP and may differ from the financial measures or other financial metrics disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities.

We provide additional information on key terms and non-GAAP measures in our filings available at bam.brookfield.com.

Notice to Readers

BAM is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement.

This news release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of BAM and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of BAM are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “target”, “project”, “forecast”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to future results, performance, achievements, prospects or opportunities of BAM and the US, Canadian or international markets.

Although BAM believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) volatility in the trading price of our class A limited voting shares; (ii) deficiencies in public company financial reporting and disclosures; (iii) the difficulty for investors to effect service of process and enforce judgments in various jurisdictions; (iv) being subjected to numerous laws, rules and regulatory requirements; (v) the potential ineffectiveness of our policies to prevent violations of applicable law; (vi) foreign currency risk and exchange rate fluctuations; (vii) further increases in interest rates; (viii) political instability or changes in government; (ix) unfavorable economic conditions or changes in the industries in which we operate; (x) inflationary pressures; (xi) catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; (xii) ineffective management of sustainability considerations, and inadequate or ineffective health and safety programs; (xiii) failure of our information technology systems; (xiv) failure to adopt AI in support of our business objectives (xv) us and our managed assets becoming involved in legal disputes; (xvi) losses not covered by insurance; (xvi) inability to collect on amounts owing to us; (xviii) operating and financial restrictions through covenants in our loan, debt and security agreements; (xix) our ability to maintain our global reputation; (xx) risks related to our infrastructure, energy, private equity, real estate, and credit strategies; (xxi) the impact of poor product development or marketing efforts on fee-bearing capital; (xxii) managing our cash flow and meeting our financial obligations; (xxiii) our acquisitions; (xxiv) requirement of temporary investments and backstop commitments to support our asset management business; (xxv) revenues impacted by a decline in the size or pace of investments made by our managed assets; (xxvi) our earnings growth can vary, which may affect our dividend and the trading price of our class A limited voting shares; (xxvii) exposed risk due to increased amount and type of investment products in our managed assets; (xxviii) information barriers that may give rise to conflicts and risks; (xxix) Brookfield Corporation (“BN”) exercising substantial influence over BAM; (xxx) BN transferring the ownership of BAM to a third party; (xxxi) potential conflicts of interest with BN; (xxxii) difficulty in maintaining our culture or managing our human capital; (xxxiii) United States and Canadian taxation laws and changes thereto and (xxxiv) other factors described from time to time in our documents filed with the securities regulators in the United States and Canada.

We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, BAM undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of appropriate opportunities or otherwise).

The market expects Brookfield Asset Management (BAM - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on August 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis investment manager is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents a year-over-year change of +15.8%.

Revenues are expected to be $1.47 billion, up 14.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.27% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Brookfield?For Brookfield, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.14%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Brookfield will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Brookfield would post earnings of $0.42 per share when it actually produced earnings of $0.43, delivering a surprise of +2.38%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Brookfield appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

By Reuters

July 29, 202612:02 PM UTCUpdated 6 mins ago

Miniatures of windmill, solar panel and electric pole are seen in front of NextEra Energy logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights, opens new tab

July 29 (Reuters) - Brookfield ​Asset Management (BAM.N), opens new tab ‌and NextEra ​Energy (NEE.N), opens new tab ​are developing ⁠a $100 ​billion data ​center campus in Paducah, ​Kentucky, ​a person ‌familiar ⁠with the matter ​said ​on ⁠Wednesday.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Reporting ​by ​Vallari ⁠Srivastava in ⁠Bengaluru; ​editing ​by ​Tasim Zahid

Our Standards: The Thomson Reuters Trust Principles., opens new tab

The company, which filed for bankruptcy protection in 2017, stands to benefit from growing support for nuclear power and President Trump's deal with Saudi Arabia.

SAN DIEGO, July 20, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating the proposed acquisition of LXP Industrial Trust (NYSE: LXP) by Brookfield Asset Management (NYSE: BAM; TSX: BAM) and Canada Pension Plan Investment Board to determine whether the transaction is fair to LXP shareholders and whether LXP’s Board of Trustees breached its fiduciary duties by agreeing to sell the Company for inadequate consideration.

Under the terms of the definitive merger agreement, LXP shareholders will receive $61.20 in cash for each LXP common share they own upon completion of the transaction. The transaction is valued at approximately $5.2 billion, including net debt and preferred equity.

To learn more, visit: https://www.johnsonfistel.com/investigations/lxp-industrial-trust/

If you are a shareholder of LXP and believe the proposed merger undervalues the Company, or if you have information concerning the transaction, we encourage you to contact Johnson Fistel to discuss your legal rights.

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Past results do not guarantee future outcomes.
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Johnson Fistel, PLLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
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James Baker, Investor Relations or Frank J. Johnson, Esq.
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The rapid growth of artificial intelligence (AI) has strained the power grid. Rising electricity prices have led communities to push back against the construction of new AI data centers. Since AI can't "live" without a reliable power source, the technology industry has a big problem on its hands. Bloom Energy (BE +8.64%) is well-positioned to help solve the power problem.

But don't rush out and buy Bloom Energy's stock. You might be better off with Brookfield Renewable Partners (BEP 0.27%) instead. Here's why this high-yield partnership could set you up for life.

Image source: Getty Images.

Bloom Energy has a timely solution Bloom Energy makes hydrogen fuel cells. It is an interesting technology on two fronts. First, it is clean because it doesn't produce greenhouse gases. Second, the fuel cells are made in a factory and can be delivered wherever they are needed, providing on-site power. It can be quicker and easier to build and deliver a fuel cell to a new AI data center than to obtain a grid connection.

That's why Bloom Energy's product backlog rose 2.5x year over year to $6 billion at the start of 2026. But that's just the start of the story, because each new fuel cell comes along with a long-term service contract. The revenue from those contracts expands the backlog to a whopping $20 billion. There are many reasons to like Bloom Energy's story.

The problem is that the stock has risen roughly 1,000% over just the past year. It's very clear that investors are aware of the opportunity. That's not to suggest the stock can't go higher, but the price-to-sales ratio is lofty at 29x. Most investors will probably be better off with a different AI power play.

Today's Change

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Brookfield Renewable is built for the long term Brookfield Renewable owns a globally diversified portfolio of clean energy assets. The diversification it provides is extensive, spanning hydroelectric, solar, wind, storage, and nuclear. Geographically, it operates in North America, South America, Europe, and Asia. But the real linchpin here is that Brookfield Renewable is also serving AI data centers, having inked notable supply contracts with Google and Microsoft (MSFT 0.94%).

The power contracts that Brookfield Renewable signs are generally long-term, so the income it generates is highly reliable. Which is what supports the stock's lofty 4.6% yield. The distribution has grown at an annualized rate of 5% over the past decade, in line with the long-term target of 5% to 9% annual distribution growth.

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Brookfield Renewable actively manages its portfolio, so it is always buying and selling assets. However, the approach's long-term success is pretty clear from the steady growth of the distribution. If you are an income investor, Brookfield Renewable's lofty yield and reliable distribution growth will make it an appealing long-term holding. But what's also notable here is the valuation, since the price-to-sales ratio is 1.5x. That's in line with the five-year average, so it wouldn't be fair to suggest that the partnership is "cheap" today. But compared to Bloom Energy, it looks like a bargain.

Bloom Energy is a growth stock, Brookfield Renewable is a reliable tortoise In reality, Bloom Energy and Brookfield Renewable Partners are likely to attract two different types of investors. Bloom Energy is a growth stock, Brookfield Renewable is an income stock. However, of the two, Brookfield Renewable's reliable, growing distribution can set you up for a lifetime of income while still giving you direct exposure to the AI sector. And you'll benefit from diversification beyond AI and across multiple power platforms.

Bloom Energy is an all-in bet on fuel cells, and the AI story is the main factor driving its stock higher right now. If either of those pieces of the story crumbles, the stock could pull back dramatically. For many investors, including those not focused on income, Brookfield Renewable is likely to be the better choice.

Brookfield Asset Management remains a compelling GARP opportunity, offering a 4.4% yield and trading below its normal P/E average. BAM's fee-related earnings growth is driven by robust fundraising and AI infrastructure tailwinds. Expanded partnerships, such as the $25B Bloom Energy deal and Westinghouse nuclear investments, position BAM for durable long-term growth.

Both Brookfield Asset Management (BAM 1.97%) and Blackstone (BX 3.49%) dominate the world of alternative investments, which include assets like real estate and private equity that are not traded on public exchanges. While one leans heavily into infrastructure and renewable power, the other uses its massive scale to influence global markets. This makes both companies vital to follow for those interested in the sector.

Brookfield Asset Management focuses on "real" assets, providing investment products in renewable power, infrastructure, private equity, and credit. The company manages nearly $1 trillion for over 2,400 institutional clients, making it a prominent player among financial stocks. Strategic moves in 2026 include the expected acquisition of Oaktree Capital Management and an AI infrastructure partnership with Nvidia.

In FY 2025, revenue reached nearly $4.9 billion, representing a growth rate of approximately 23.5% over the prior year. This expansion helped the firm generate net income of roughly $2.5 billion for the period. The company maintained a strong net margin of about 50.5%, although this was a slight decrease from the 54.5% net margin reported in the prior fiscal year.

As of its December 2025 balance sheet, the debt-to-equity ratio, which measures total debt against shareholder equity, was roughly 0.4x. The current ratio, representing the ability to cover short-term debts with short-term assets, was approximately 4.2x. Free cash flow, calculated as cash from operations minus capital expenditures, was close to $2.1 billion for the fiscal year.

The case for BlackstoneBlackstone operates as the world's largest alternative asset manager, overseeing more than $1.3 trillion across segments like real estate and private credit. The firm serves a global base of institutional investors and is rapidly growing its reach to individual investors through dedicated private wealth platforms. Current activities include backing AI service providers through ventures like Anthropic and pursuing an acquisition of H&R Real Estate Investment Trust in mid-2026.

During FY 2025, the firm generated revenue of nearly $13.8 billion, a 21.6% increase compared to the prior fiscal year. This resulted in net income of approximately $3.0 billion for the same period. While the top line grew significantly, the net margin was roughly 21.8%, representing the percentage of revenue kept as profit after all costs.

Based on its December 2025 balance sheet, the debt-to-equity ratio is approximately 1.5x. The current ratio is close to 0.9x, indicating that current liabilities slightly exceed current assets. Free cash flow for the year reached roughly $1.7 billion, though stock-based compensation represented roughly 104.7% of operating cash flow, meaning reported cash generation is heavily inflated by this non-cash add-back.

Risk profile comparisonBrookfield Asset Management faces risks from interest rate volatility, which affects the valuations of its infrastructure and real estate holdings. Operating in over 50 countries exposes the firm to complex international regulations and varying compliance costs. The rapid pace of expansion through acquisitions, such as Boralex and Peakstone Realty Trust, also introduces significant integration and operational execution risks.

Blackstone is sensitive to economic cycles that can impact fundraising and performance-based revenue. Elevated interest rates negatively affect real estate valuations, which is a core part of its portfolio. The firm also faces intense competition for high-quality assets from other major managers like Apollo Global Management and KKR while navigating increased regulatory oversight.

Valuation comparisonBlackstone trades at a lower P/S ratio, while Brookfield Asset Management carries a higher Forward P/E based on future earnings estimates.

MetricBrookfield Asset ManagementBlackstoneSector BenchmarkForward P/E27.0x21.7x17.2xP/S ratio15.8x11.1xN/ASector benchmark uses the SPDR XLF sector ETF. Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

Which stock would I buy in 2026?Brookfield Asset Management and Blackstone are two of the largest alternative asset managers in the world, with each managing more than $1 trillion in assets. Which is the better buy this year? It depends on your goals and what’s already in your portfolio. Blackstone’s business is more straightforward and is focused on credit, private equity, and hedge funds. It grows its earnings by collecting performance and asset management fees and returns the earnings to investors via share repurchases and dividends (its annual dividend yield is around 4%).

Brookfield Asset Management performs similar asset management functions as Blackstone, but also operates a portfolio of its own renewable energy, infrastructure, and real estate companies. Instead of paying all of its earnings back to investors (its recent dividend yield was close to 4.2%), it also reinvests some of its earnings into its businesses.

Both stocks have been stellar holdings, delivering more than 60% total returns over the last five years, and investors may find there’s room for both in their portfolios. But if I had to choose only one, I prefer Brookfield’s more diversified approach to alternative asset management.

June 23, 2026 10:22 ET  | Source: Brookfield Asset Management Ltd

BROOKFIELD, News, June 23, 2026 (GLOBE NEWSWIRE) -- Brookfield Asset Management (NYSE: BAM) (“Brookfield”) is pleased to share that the U.S. Department of Energy’s (“DOE”) Office of Energy Dominance Financing (“EDF”) has conditionally committed funding for $17.5 billion in loan facilities (the “American Supply Chain Loans” or “the Loans”) to support investment in U.S. nuclear reactors. The Loans intend to finance the long-lead equipment necessary to construct up to 10 Westinghouse Electric Company (“Westinghouse”) AP1000 nuclear reactors in the United States. Westinghouse is a leading global nuclear services business jointly owned by Brookfield and its institutional partners (51%) and Cameco Corporation (49%).

Connor Teskey, Chief Executive Officer of Brookfield Asset Management, said: “Westinghouse continues to be at the forefront of major public and private partnerships that will materially accelerate the build-out of large-scale nuclear power generation, help meet growing energy demand, and support energy security in the U.S.  The loan facilities help advance President Trump’s Executive Order and serves as a catalyst for nuclear, providing the certainty needed to enhance the domestic nuclear supply chain and accelerate construction of nuclear projects that will deliver reliable baseload power around the country for decades to come.”

The conditional financing package will enable eligible utility and energy company partners, the anticipated owners of the projects, to purchase long-lead items and help accelerate construction and commercial operations of Westinghouse reactors by up to three years, with the aim of having 10 reactors under construction by 2030. It is expected that DOE may make up to five Loans, with each loan supporting two reactors.

While this conditional commitment indicates DOE’s intent to provide loans to finance the projects, Westinghouse, its owners, and its partners must satisfy certain technical, legal, environmental, and financial conditions before DOE enters into definitive financing documents and funds the Loans.

About Brookfield

Brookfield Asset Management Ltd. (NYSE: BAM, TSX, BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield’s heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.

For more information, please visit our website at www.brookfield.com

Contact information:

Media:Investors:Simon Maine Alex JacksonManaging Director – CorporateVice President – InvestorCommunicationsRelations  (332) 298-0447 (416) [email protected]@brookfield.com   Cautionary statement regarding forward-looking information

This news release contains “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of other relevant securities legislation, including applicable securities laws in Canada, which reflect our current views with respect to, among other things, our operations and financial performance (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, beliefs and assumptions and which are in turn based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of BAM are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as “intend”, expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the expectation of the DOE to make the Loans and satisfaction of certain conditions prior to entering into definitive financing documents.

Although BAM believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, certain factors, risks and uncertainties, which are described from time to time in our documents filed with the securities regulators in the United States and Canada, not presently known to BAM, or that BAM currently believes are not material, could cause actual results to differ materially from those contemplated or implied by forward-looking statements. Reference should be made to “Item 1A - Risk Factors” and “Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements” in BAM’s most recently filed annual report on Form 10-K.

Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release. Except as required by law, BAM undertakes no obligation to publicly update or revise any forward-looking statements, whether written or oral, that may be as a result of new information, future events or otherwise.

Brookfield Asset Management delivers robust fee-related earnings growth, driven by infrastructure, credit, energy, real estate, and insurance capital management. BAM's fee-bearing capital reached $614 billion, with 87% long-term, and significant uncalled commitments and new mandates poised to drive future fee income. Private credit and insurance capital, including the Just Group mandate, are key growth catalysts, with $67 billion in uncalled commitments yet to generate fees.

Brookfield Asset Management offers double-digit earnings growth, a nearly 4% dividend yield, and is trading at historically low valuation multiples. BAM's record fundraising, substantial uncalled commitments, and growing AUM underpin robust future earnings, particularly as carry becomes a more meaningful contributor. The business model enables distributing over 90% of earnings while still compounding growth, with high-quality, long-term, and scalable AUM—especially from insurance mandates.

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - Body and Mind Inc. (CSE: BAMM) (the "Company" or "BaM") is pleased to announce that it has closed the New Jersey equity interest transaction, which it had previously disclosed in a news release dated August 27, 2025. As per prior disclosure, the Company's wholly owned subsidiary, DEP Nevada, Inc. ("DEP"), entered into a Purchase Agreement with Ascend New Jersey, LLC (the "Purchaser"), whereby DEP, which owned 100% of BaM Body and Mind Dispensary NJ, Inc. ("BAM NJ") agreed to sell all of the equity interests (the "Interests") in BAM NJ to the Purchaser and a social equity partner (the "Social Equity Partner"), which resulted in Purchaser owning 35% of BAM NJ and Purchaser's Social Equity Partner owning 65% of BAM NJ.

REIT buyouts are heating up as private equity targets deep discounts. We recently profited from three REIT takeovers. Two small REITs could be next, with big upside potential.

Investors looking for stocks in the Financial - Miscellaneous Services sector might want to consider either Bread Financial Holdings (BFH - Free Report) or Brookfield Asset Management (BAM - Free Report) . 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 emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.

Right now, Bread Financial Holdings is sporting a Zacks Rank of #1 (Strong Buy), while Brookfield Asset Management has a Zacks Rank of #4 (Sell). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that BFH has an improving earnings outlook. 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.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

BFH currently has a forward P/E ratio of 8.19, while BAM has a forward P/E of 26.02. We also note that BFH has a PEG ratio of 0.82. 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. BAM currently has a PEG ratio of 1.84.

Another notable valuation metric for BFH is its P/B ratio of 1.05. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, BAM has a P/B of 9.14.

Based on these metrics and many more, BFH holds a Value grade of B, while BAM has a Value grade of F.

BFH is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that BFH is likely the superior value option right now.

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Shares of FuelCell Energy (NASDAQ:FCEL) are ripping higher in midday trading Wednesday, up 15% as hydrogen bulls rotate back into the most beaten-down name in the complex. Bloom Energy (NYSE:BE) stock is participating as well, gaining 9%.

Plug Power (NASDAQ:PLUG) shares, by contrast, are barely budging with a 1% uptick. That’s the story today: the hydrogen trade isn’t participating equally across all stocks in the fuel-cell sector today.

The split caps a volatile week. On Monday, May 18, this column flagged FCEL and PLUG getting hit hard in a hot-trade pullback. Today marks a reversal, but only for the names with a credible AI data center hook.

Mean Reversion Meets an AI Data Center Catalyst FCEL stock is the day’s clear winner because it had the most room to bounce. The shares were heading in with a one-month gain of 139% and a year-to-date move of 137%, yet the five-year chart still shows a 92% drawdown.

The fundamental peg is FuelCell’s pivot to data center power. Q4 FY2025 revenue came in at $55.02M, beating estimates by 16%, and unrestricted cash jumped to $278.1M (per the company’s 8-K filing on sec.gov). FuelCell Energy CEO Jason Few stated, “Our strategy is deeply focused on the data center market where we see significant opportunities for our efficient, resilient power solutions.”

Retail is paying attention. One WallStreetBets thread this week framed FCEL stock as “one of 3 fuel cell players among BE, PLUG” riding the AI catalyst, a sign sentiment has flipped after the pullback.

Bloom Energy Is the Structural Leader [bs_stock_chart symbol=”BE”]

Bloom Energy stock is up less today, but the one-year return tells the bigger story. BE shares are up 1,386% over the past year and 169% year to date. The market has already priced in much of the on-site power thesis.

The numbers back the narrative. Bloom Energy’s Q1 2026 revenue hit $751.05M, up 130% year over year, with non-GAAP EPS of $0.44 blowing past the $0.1285 consensus (see Bloom’s 8-K on sec.gov). Management raised FY26 revenue guidance to $3.4B to $3.8B on the back of a $5 billion Brookfield Asset Management (NYSE:BAM | BAM Price Prediction) AI infrastructure partnership.

Bloom Energy CEO KR Sridhar declared, “Bring-your-own-power has shifted from a slogan to a business necessity for AI hyperscalers and manufacturing facilities. This shift is secular and growing.” That’s the anchor Bloom Energy has and FuelCell is still trying to build.

Why Plug Power Is Sitting This One Out [bs_stock_chart symbol=”PLUG”]

Plug Power’s quiet tape reflects end-market positioning rather than weak results. Q1 2026 revenue of $163.5 million grew 22% year over year, and Plug Power’s GAAP gross margin improved from -55% to -13%. The issue is end-market exposure.

Plug Power’s franchise leans on hydrogen production, electrolyzers, and material handling. Bloom and FuelCell pitch themselves directly to data center operators and hyperscalers, which is the narrative paying premiums today. Even insider activity skews defensive, with Plug’s April 1 Form 4s showing director acquisitions at just $2.26 per share.

PLUG stock did catch a retail bid earlier this month. WallStreetBets sentiment hit 88 on May 11 around a short-squeeze thread, but that euphoria faded. By May 17, the sentiment score had reverted to null.

What to Watch The bull case for the AI data center fuel cell trade rests on durable hyperscaler power demand, with Bloom Energy’s Oracle (NYSE:ORCL) and Brookfield deployments providing real revenue validation. The bear case is unit economics. FuelCell still posted a Q4 net loss of $29.34M, and the 93% five-year drawdown shows how brutal these cycles can be.

The takeaway from today’s tape is simple. The market wants AI-data-center-adjacent fuel cell exposure specifically. That’s why FCEL stock is leading on mean reversion, BE shares are participating as the structural leader, and PLUG stock is drifting.

Investors should watch for fresh hyperscaler power purchase announcements, Bloom Energy’s next earnings update, and whether Plug Power can keep narrowing its losses toward its Q4 2026 EBITDAS-positive target. The divergence is the signal, for the time being at least.

One is designed for growth; the other for stable income.

Joint venture includes an eight-property, 5.3 million-square-foot portfolio anchored by high-quality industrial assets in Canada's largest urban markets June 03, 2026 09:00 ET  | Source: Concert Properties

Vancouver, BC, June 03, 2026 (GLOBE NEWSWIRE) -- Concert Properties Ltd., through Concert Income Properties ("Concert"), today announced the formation of a joint venture with a Brookfield affiliate for an eight-property Canadian industrial portfolio totaling approximately 5.3 million square feet. The transaction values the portfolio at approximately C$1 billion. 

The portfolio comprises a mix of single-tenant and multi-tenant industrial properties across Canada’s largest urban logistics markets, including Vancouver, Toronto, Calgary, and Ottawa. Fully leased to a diverse roster of credit tenants, the assets benefit from strong connectivity to critical highway, airport, and rail infrastructure and represent stabilized, high-quality industrial real estate with embedded income growth potential.

“We are pleased to be partnering with Brookfield, a globally recognized firm with deep expertise and a strong track record in real estate,” said Lindsay Brand, Chief Investment Officer of Concert Properties Ltd. “Concert has a history of building partnerships defined by shared alignment and a long-term view, and this one is no different. Brookfield brings global scale and a disciplined approach to real estate investment, and we are excited about what we can build together. We look forward to actively managing this portfolio on behalf of the joint venture and to identifying ways to grow this relationship over time.”

“This investment reflects Brookfield’s conviction in high-quality logistics real estate in supply-constrained, high-barrier markets,” said Andy Smith, Managing Partner, Real Estate, Brookfield. “Concert has assembled and managed a strong Canadian industrial portfolio, and we are pleased to partner with them on assets that align well with our global logistics strategy. We look forward to working together to create long-term value across the portfolio.”

CIBC and CBRE acted as advisors to Concert on the transaction.

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About Concert Properties

Founded in 1989, Concert Properties is a diversified Canadian real estate corporation owned by 49 union and management pension plans and institutional investors representing over 200,000 Canadians. Concert develops, owns and manages rental apartments; develops condominium homes; and develops, acquires and manages industrial and office properties. Concert Income Properties, an open-ended Canadian limited partnership fund formed in 2016, acquires, develops and manages industrial, office and multi-family real estate across Canada on behalf of Canadian pension funds and institutional investors.

About Brookfield

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy.We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. We draw on Brookfield's heritage as an owner and operator to invest for value and generate strong returns for our clients, across economic cycles.

https://www.concertproperties.com/ https://www.brookfield.com/ Contact Data Concert Media Contact Katie Stevens Talk Shop Media [email protected] 778-686-0906 Brookfield Media Contact Laura Montross [email protected] 508-769-5942