MSCI

MSCI

Market cap $42.1B

During the fourth quarter, we initiated a new position in the leading energy-focused specialty contracting company, Quanta Services. Within the existing portfolio, our biggest addition during the quarter was to MSCI, a leading provider of indexes and investment decision support tools. We also added to our position in Danaher Corporation.

More market jitters hit stocks this month, and this time the damage is leaking into the financial services sector. As usual, AI disruption was the catalyst, and several of the largest finance-sector stocks dropped 10% to 20% over just a few days.

MSCI offers a compelling investment case, leveraging recurring revenue from index and data services amid the ETF industry's structural growth. MSCI posted 10.6% YoY revenue growth in Q4 2025, with 93.4% retention and a robust 62.2% adjusted EBITDA margin, supporting double-digit earnings growth. Shares trade at a forward P/E of 30.7, about 10% below a fair value estimate of $672, implying potential upside if growth trends persist.

LONDON--(BUSINESS WIRE)--MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced the results of the February 2026 Index Review for the MSCI Equity Indexes. All changes will be implemented as of the close of February 27, 2026. Highlights include: MSCI Global Standard Indexes: Sixty-three securities will be added to and 61 securities will be deleted from the MSCI ACWI Index. The three largest additions to the MSCI W.

MSCI Inc. (MSCI) Presents at UBS Financial Services Conference 2026 Transcript

In the fourth quarter of 2025, the Harbor SMID Cap Core ETF returned 1.13% (NAV), underperforming its benchmark, the Russell 2500® Index. Harbor SMID Cap Core ETF sector headwinds were partially offset by improved relative performance in Information Technology as speculative names lost momentum. Raymond James shares declined by 7.0% despite adjusted earnings exceeding consensus expectations by 10%, reflecting investor focus on near-term margin pressure.

NEW YORK--(BUSINESS WIRE)--MSCI Inc. (“MSCI” or the “Company”) (NYSE: MSCI) announced today that Andrew Wiechmann, Chief Financial Officer, will be participating in fireside chats at the following investor conferences: UBS Financial Services Conference on Monday, February 9, 2026 at 9:40AM Eastern Time Raymond James Annual Institutional Investors Conference on Tuesday, March 3, 2026 at 8:40AM Eastern Time A live webcast and replay of these events will be available on the events and presentation.

MSCI is upgraded to Buy as Q4 2025 results show re-accelerating subscription growth and robust Index segment performance. Subscription run-rate growth in Index accelerated to 9% y/y, with active manager demand stabilizing and ETF inflows driving revenue. Index customization emerges as a key growth catalyst, expanding TAM and supporting sustained double-digit revenue growth outlook.

LONDON--(BUSINESS WIRE)--MSCI Inc. (NYSE:MSCI), a leading provider of critical decision support tools and services for the global investment community, will announce the results of the February 2026 Index Review for the MSCI Equity Indexes - including the MSCI Global Standard, MSCI Global Small Cap and MSCI Micro Cap Indexes, the MSCI Global Value and Growth Indexes, the MSCI Frontier Markets, and MSCI Frontier Markets Small Cap Indexes, the MSCI US Equity Indexes, the MSCI US REIT Index, the M.

MSCI delivered a strong Q4, with 10.6% organic revenue growth and Index segment margins at 78%. Index remains the crown jewel, now 58% of sales, but non-Index segments show decent traction and retention. Management signals double-digit revenue growth and margin expansion in 2026, but capex is set to rise 27% for AI initiatives.