What happened
According to a filing with the Securities and Exchange Commission dated October 20, 2025, investment advisory company Ayrshire Capital Management LLC increased its position in Blackstone (BX +0.39%) by 28,448 shares during Q3 2025. The estimated value of the new shares purchased was approximately $4.87 million, based on the average closing price for the quarter. The fund reported holding 42,892 shares at the end of the period.
What else to know
The fund increased its Blackstone position, bringing the stake to 3.4% of 13F reportable assets under management as of September 30, 2025.
Ayrshire Capital Management's top holdings as of September 30, 2025 were:
- APH: $16.55 million (7.7% of AUM)
- MSFT: $15.82 million (7.3% of AUM)
- AAPL: $10.32 million (4.8% of AUM)
- TJX: $8.77 million (4.1% of AUM)
- META: $7.66 million (3.6% of AUM)
As of October 20, 2025, shares were priced at $160.44, down 6.05% over the past year, and underperforming the S&P 500 by 17.65 percentage points during that time period.
Blackstone reported trailing twelve-month revenue of $11.58 billion and net income of $2.86 billion for the period ended June 30, 2025.
The stock offered a 2.66% dividend yield as of October 21, 2025, and was 19.5% below its 52-week high as of October 21, 2025.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close October 20, 2025) | $160.44 |
| Market Capitalization | $192.54 billion |
| Revenue (TTM) | $11.58 billion |
| Net Income (TTM) | $2.86 billion |
Company snapshot
Blackstone is a leading global alternative asset manager with a diversified platform spanning real estate, private equity, hedge funds, and credit. Its competitive advantage lies in global reach and a multi-asset strategy.
IMAGE SOURCE: GETTY IMAGES.
The company offers alternative asset management services, including real estate, private equity, hedge fund solutions, and credit strategies. It operates a multi-asset investment platform focused on opportunistic and income-oriented strategies.
Blackstone serves a global client base of institutional investors, such as pension funds, sovereign wealth funds, and insurance companies.
Foolish take
What's notable about Ayrshire Capital Management's purchase of Blackstone stock is that it expanded its existing position substantially. At the end of the second quarter, Ayrshire held 14,444 shares representing 1% of its AUM. Q3's addition of another 28,448 shares brought the holding up to 3.4% of AUM.
Ayrshire's move suggests a bullish outlook on Blackstone. Even so, the stock experienced a sell off after reporting Q3 results. The company's sales declined year over year to $3.1 billion from 2024's $3.7 billion, contributing to net income dropping to $1.2 billion from $1.6 billion in the prior year.
However, several bright spots existed in Blackstone's Q3 results. Its AUM rose 12% year over year to a record $1.2 trillion. The company's distributable earnings, which are the earnings portion paid to shareholders as dividends, increased 48% year over year to $2 billion. Its fee-related earnings, a metric gauging Blackstone's recurring revenue, rose 26% year over year to $1.5 billion.
While Wall Street seemed focus on the bad news, the good suggests Blackstone's business is in excellent shape. The company's return on equity has been steadily rising over the last couple of years, and that may have also played into Ayrshire's decision to expand its holdings. With Blackstone's stock down, now looks like a good time to buy and hold shares for the long term.
Glossary
AUM: Assets under management – The total market value of assets a fund or investment manager oversees.
13F reportable assets: Securities that institutional investment managers must disclose in quarterly SEC Form 13F filings.
Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Alternative asset management: Managing investments outside traditional stocks and bonds, such as real estate, private equity, or hedge funds.
Private equity: Investments in private companies or buyouts of public companies, typically not traded on public exchanges.
Hedge fund solutions: Investment strategies or products designed to provide access to hedge funds or similar risk/return profiles.
Credit strategies: Investment approaches focused on debt securities, loans, or other credit-related instruments.
Opportunistic investments: Investments seeking to capitalize on market inefficiencies or special situations for higher returns.
Income-oriented investments: Investments designed primarily to generate regular income, such as interest or dividends.
