ADDED
The number of units representing assignments of beneficial ownership of limited partnership interests outstanding as of December 31, 2025 was 92,284,367 .
Management s Discussion and Analysis of Financial Condition and Results of Operations 28 Executive Overview 28 Market Environment 28 AB Holding 30 AB 32 Item 7A.
We use emerging markets in this Form 10-K to refer to countries included in the Morgan Stanley Capital International ( MSCI ) emerging markets index, which include, as of December 31, 2025: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey.
As of December 31, 2025, 2024 and 2023, our AUM were approximately $867 billion, $792 billion and $725 billion, respectively, and our net revenues were approximately $4.5 billion, $4.5 billion and $4.2 billion, respectively.
Our EQH affiliates represented approximately 16%, 17% and 16% of our AUM as of December 31, 2025, 2024 and 2023, and we earned approximately 4% of our net revenues from services we provided to them in each of 2025, 2024 and 2023, respectively.
We also have experts focused on multi-asset strategies, wealth management, sustainability and impact strategies, and alternative investments.
Our purpose and values describe the employee behaviors and actions that support these goals, and we work diligently across our business to bring them to life.
Our Values: We invest in one another , meaning that we have a strong organizational culture where community and belonging is celebrated and mentorship is critical to our success.
We speak with courage and conviction , which informs how we engage with our AB colleagues, clients and other stakeholders.
We describe our firm's governance structure, including our Board and its committees, in Item 10 of this Form 10-K.
REMOVED
The number of units representing assignments of beneficial ownership of limited partnership interests outstanding as of December 31, 2024 was 110,530,329 .
Management s Discussion and Analysis of Financial Condition and Results of Operations 29 Executive Overview 29 Market Environment 29 AB Holding 31 AB 33 Item 7A.
We use emerging markets in this Form 10-K to refer to countries included in the Morgan Stanley Capital International ( MSCI ) emerging markets index, which include, as of December 31, 2024: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.
As of December 31, 2024, 2023 and 2022, our AUM were approximately $792 billion, $725 billion and $646 billion, respectively, and our net revenues were approximately $4.5 billion, $4.2 billion and $4.1 billion, respectively.
Our EQH affiliates represented approximately 17%, 16% and 16% of our AUM as of December 31, 2024, 2023 and 2022, and we earned approximately 4% of our net revenues from services we provided to them in each of 2024, 2023 and 2022, respectively.
We also have experts focused on multi-asset strategies, wealth management, environmental, social and governance ( ESG ), and alternative investments.
Because we are an active investment manager, differentiated insights drive our ability to design innovative investment solutions and help our clients achieve their investment goals.
Our values illustrate the behaviors and actions that create our strong culture and enable us to meet our clients' needs.
Each value inspires us to be better: We invest in one another , meaning that we have a strong organizational culture in which diversity is celebrated and mentorship is critical to our success.
We speak with courage and conviction , which informs how we engage with our AB colleagues, clients and others.