Evercore Report on Mutual Fund Holdings in Q2 2026
Evercore’s analysis of fund filings as of 30 June 2026 shows that the top 25 mutual funds, which collectively manage roughly $3.0 trillion in assets, reduced their overweight positions in large‑cap bank stocks to only two of the eight banks covered by Evercore, down from three in the first quarter.
The funds increased their holdings in KKR, Morgan Stanley and Truist Financial, while decreasing exposure to State Street, Citigroup and Wells Fargo.
Regarding alternative‑asset managers, the same group of mutual funds held overweight positions in four managers—Ares Management, KKR, Apollo Global Management and Blue Owl Capital. The number of funds owning positions in these alternative managers rose to 18 in Q2, up from 16 in Q1.
Only 10 of the top‑25 mutual funds own Blackstone, and among those with exposure to alternative asset managers, KKR, Carlyle Group and Apollo have the highest weightings.
Both mutual funds and hedge funds, together representing about $1.0 trillion in assets under management, were marginally underweight Evercore’s broader financial coverage in the second quarter.
Trust banks posted a 27 % increase during the quarter, leading Evercore’s coverage, which closed up 11 % on average. The sector’s performance was attributed to stronger period‑of‑life results and improved full‑year outlooks reflected in second‑quarter earnings.
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