WisdomTree NYSE: WT reported record assets under management and higher revenue in the second quarter of 2026, aided by net inflows, favorable markets and the acquisition of Atlantic House.
Assets under management totaled $162.9 billion at quarter-end, up 7% from March 31 and marking the company’s sixth consecutive quarter of record AUM, Chief Financial Officer Bryan Edmiston said. AUM records were reached in both the U.S. and European businesses. WisdomTree said global AUM had subsequently risen to about $164 billion, reflecting $700 million of net inflows and positive market movement since quarter-end.
The company generated $3.1 billion of quarterly net inflows, including $2.1 billion in Europe and $1 billion in the U.S. Year-to-date net inflows totaled $9 billion, equivalent to an approximately 13% annualized organic growth rate, according to Edmiston.
Revenue, Margins and Earnings Rise
Second-quarter revenue was $177.2 million, rising 11% sequentially and 57% from a year earlier. Edmiston attributed the increase to higher AUM, the Atlantic House acquisition, contributions from Ceres and growth in other revenue.
Ceres contributed $5.4 million in management fees and $6 million in performance fees during the quarter. Other revenue totaled $19.5 million, reflecting higher AUM in European products and Atlantic House revenue, partly offset by more moderate European trading activity.
WisdomTree reported adjusted net income of $48.1 million, or $0.31 per share. Chief Executive Officer Jonathan Steinberg said adjusted operating margin reached 42.6% in the quarter, while Edmiston said the year-to-date adjusted operating margin was 41.1%, up 900 basis points from the prior-year period.
“Surpassing a 40% operating margin marks an important milestone and underscores the scalability of our operating model as we continue to grow,” Edmiston said.
Steinberg said earnings per share increased 72% year over year and 15% from the preceding quarter. He also pointed to the company’s investments in private markets, liquid alternatives and tokenized financial infrastructure as components of WisdomTree’s broader growth strategy.
Atlantic House and Ceres Updates
WisdomTree completed its acquisition of Atlantic House on May 1, adding more than $4 billion in AUM. The acquisition expands the company’s European presence and adds outcome-oriented and derivatives-based investment capabilities, management said.
During the question-and-answer session, Will Peck said Atlantic House’s models business has about $1.5 billion in assets under administration and generates a 25-basis-point fee. He said the business is not expected to fluctuate materially quarter to quarter. Structuring fees may be more variable because they depend on the timing of product launches and issuance; Atlantic House generated $13 million of such fees in 2025.
Steinberg said the company expects to launch about 15 exchange-traded funds in the U.S. and Europe over the next 18 months using Atlantic House strategies. He also said WisdomTree intends to expand Atlantic House’s portfolio-solutions business beyond the U.K.
For Ceres, Edmiston said quarterly flows were about $5 million after the company closed its flagship fund to new investment and launched Fund 2. He characterized the quarter as a transition period. Edmiston said the $6 million quarterly performance-fee contribution was a more normalized figure than the prior quarter’s roughly $3 million, though first-quarter performance fees have some seasonality.
Steinberg said WisdomTree’s distribution team had identified more than 100 interested Ceres investors representing more than $100 million of assets.
Capital Allocation and Guidance
WisdomTree retired approximately $127 million in principal amount of convertible notes maturing in 2026 and 2029 during the quarter, using cash to reduce leverage. It also began open-market share repurchases, buying about $29 million of stock, or roughly 1.7 million shares, through the date of the call.
The company repurchased shares at an average price of $17.40, Steinberg said. Management did not commit to a specified quarterly repurchase amount, saying it would balance shareholder returns with deleveraging and flexibility for strategic initiatives.
WisdomTree updated its diluted-share outlook for the second half of 2026 to a range of 152 million to 155 million shares, compared with prior guidance of 154 million shares. The revised outlook reflects repurchases to date and potential incremental shares associated with remaining convertible notes, which have conversion prices of approximately $19 and $21.
The company also reduced its interest-income outlook to $8 million from $10 million, reflecting the use of some interest-earning assets for buybacks. All other previously provided forward guidance remained unchanged.
Portfolio Solutions and Digital Assets
President and Chief Operating Officer Jarrett Lilien said Portfolio Solutions continued to grow faster than the broader firm. Model assets under administration reached $9 billion, up from about $6 billion at the end of 2025. Lilien said flows into models are outpacing the company’s ETF business and are viewed as stickier, longer-term assets.
Management also discussed opportunities in tokenization. Peck said WisdomTree’s pipeline had “never been more robust,” citing growing interest in tokenized financial products and stablecoins across broker-dealers, fintechs and other financial-services firms. WisdomTree currently offers a tokenized money market fund, WTGXX, and has filed for what Peck said could become the market’s first tokenized ETF if approved and launched.
Steinberg said the company believes its tokenization platform is not reflected in its current valuation, while emphasizing that WisdomTree intends to continue disciplined capital allocation and investment across its growth initiatives.
About WisdomTree (NYSE:WT)
WisdomTree Investments, Inc NYSE: WT is a U.S.-based asset management firm specializing in exchange-traded funds (ETFs) and exchange-traded products (ETPs). Founded in 2006 by Jonathan Steinberg and headquartered in New York City, WisdomTree has developed a reputation for pioneering smart-beta and fundamentally weighted indexing approaches. The company designs strategies that seek to enhance returns and reduce volatility by weighting constituents based on dividends, earnings or other financial metrics rather than relying solely on market capitalization.
WisdomTree offers a broad suite of investment products covering equities, fixed income, currencies, commodities and digital assets.
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