Key Takeaways
- • Blackstone Inc. (BX) represents a 5.2% portfolio weight in the Tema Alternative Asset Managers ETF (AAUM) as of April 20, 2026, making it a core holding alongside Partners Group Holding AG at an identical 5.2% allocation.
- • The AAUM ETF holds 30 positions with $2.0–2.31M in net assets under management and a 0.75% net expense ratio, providing diversified exposure to alternative asset managers across private equity, private credit, infrastructure, real estate, and venture capital.
- • Blackstone maintains a 5.25% weight in AAUM's current portfolio (per latest available data) with a -20.6% YTD performance decline, reflecting broader market headwinds affecting the alternative assets sector.
- • AAUM itself has delivered a -11.19% YTD total return as of May 7, 2026, with the fund trading at $21.74 per share against a NAV of $21.33 and a 52-week range of $18.59–$25.91.
- • Blackstone is held across 568 U.S.-traded ETFs with approximately 124.6M shares in total ETF market exposure, underscoring its systemic importance to alternative asset-focused investment vehicles.
Summary
The Tema Alternative Asset Managers ETF (AAUM) maintains Blackstone Inc. as a significant core holding within its portfolio of alternative asset managers. As of April 20, 2026, Blackstone represented 5.2% of the fund's allocation, tied with Partners Group Holding AG as the top two positions. This weighting reflects the fund's strategy to provide institutional and retail investors with concentrated exposure to the world's leading alternative asset managers, with Blackstone serving as the largest alternative asset manager globally.
AAUM is structured as a 30-position portfolio designed to capture growth across the alternative assets ecosystem, including private equity, private credit, infrastructure, real estate, and venture capital verticals. The fund operates with a 0.75% net expense ratio and manages approximately $2.0–2.31M in net assets. As of early May 2026, the ETF's shares traded at $21.74, representing a 1.67% gain from the prior close of $21.38 on May 6, though the fund has posted a negative -11.19% year-to-date total return, indicating sector-wide pressure on alternative asset managers' valuations.
Blackstone's position in AAUM reflects its dominance within the alternative assets space. The company is held across 568 U.S.-traded ETFs with approximately 124.6M shares in aggregate ETF market exposure, making it one of the most widely held alternative asset manager stocks within the ETF ecosystem. However, Blackstone's performance within AAUM has lagged, with the holding down 20.6% year-to-date as of April 20, 2026, suggesting that despite its structural importance to the fund's mandate, macro conditions and market valuation pressures have weighed on the stock.
AAUM's overall fund metrics as of May 7, 2026 show a PE ratio of 24.63x trailing twelve months, a 52-week trading range of $18.59–$25.91, and a beta of 0.00 (indicating limited correlation to broader market movements). The fund's NAV stood at $21.33, with minimal average daily volume of 390 shares, reflecting the niche nature of the ETF and its suitability primarily for institutional investors seeking targeted exposure to alternative asset manager equities rather than the underlying alternative assets themselves.
AAUM is structured as a 30-position portfolio designed to capture growth across the alternative assets ecosystem, including private equity, private credit, infrastructure, real estate, and venture capital verticals. The fund operates with a 0.75% net expense ratio and manages approximately $2.0–2.31M in net assets. As of early May 2026, the ETF's shares traded at $21.74, representing a 1.67% gain from the prior close of $21.38 on May 6, though the fund has posted a negative -11.19% year-to-date total return, indicating sector-wide pressure on alternative asset managers' valuations.
Blackstone's position in AAUM reflects its dominance within the alternative assets space. The company is held across 568 U.S.-traded ETFs with approximately 124.6M shares in aggregate ETF market exposure, making it one of the most widely held alternative asset manager stocks within the ETF ecosystem. However, Blackstone's performance within AAUM has lagged, with the holding down 20.6% year-to-date as of April 20, 2026, suggesting that despite its structural importance to the fund's mandate, macro conditions and market valuation pressures have weighed on the stock.
AAUM's overall fund metrics as of May 7, 2026 show a PE ratio of 24.63x trailing twelve months, a 52-week trading range of $18.59–$25.91, and a beta of 0.00 (indicating limited correlation to broader market movements). The fund's NAV stood at $21.33, with minimal average daily volume of 390 shares, reflecting the niche nature of the ETF and its suitability primarily for institutional investors seeking targeted exposure to alternative asset manager equities rather than the underlying alternative assets themselves.
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