AllianceBernstein Holding L.P. Units (AB) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

regardless. Please go ahead. Good morning, everyone, and welcome to our second quarter 2025 earnings review. This conference call is being webcast and accompanied by a slide presentation that's posted in the investor relations section of our website, www.alliancebernstein.com. With us today to discuss the company's results for the quarter are Seth Bernstein, President and CEO of and Tom Simeone, CFO. Honorar Zahn, head of Global Client Group and Private Wealth, will join us for questions after our prepared remarks. Some of the information we'll present today is forward-looking and subject to certain SEC rules and regulations regarding disclosure, so I would like to point out the Safe Harbor language on slide two of our presentation. You can also find our Safe Harbor language in the MD&A of our 10-Q, which we filed this morning. We base our distribution to unit holders on our adjusted results, which we provide in addition to and not as a substitute for our GAP results. Our standard GAP reporting and a reconciliation of GAP to adjusted results are in our presentation appendix, press release, and our 10-Q. Under Regulation FD, management may only address questions of material nature from the investment community in a public forum, so please ask all such questions during this call. Now I'll turn it over to Seth. Good morning, and thank you for joining us today. During the second quarter, investors grappled with concerns about escalating geopolitical tensions, policy uncertainty, and debt sustainability. Sentiment improved as trade tensions eased, and risk assets ultimately delivered solid returns for the period. AB ended the quarter with record assets under management of $829 billion, which provides a helpful tailwind as we start the second half of the year. On slide thr...