ACR Alpine Capital Research LLC on Bank of New York Mellon
Thesis
Bank of New York Mellon is included in the new Evolving Financials theme. The fund believes financial institutions enter the current recovery with well-capitalized balance sheets, rationalized cost structures and significant efficiency initiatives already underway. At the same time, capital markets activity, corporate lending and confidence are recovering while the regulatory environment appears to be becoming more favorable. The combination of excess capital, deregulation, improving activity and operational efficiency could produce sustained gains in returns on capital, earnings power and growth expectations.
“The portfolio has already benefited in 2026, with strong Q2 contributions from Bank of New York Mellon and Goldman Sachs.”