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How Virtus Investment Partners (VRTS) makes money
Virtus Investment Partners (VRTS) made $201M of revenue in the second quarter 2026 (Q2 2026), -4% from a year earlier. Investment management fees brought in $171M (85%); Administration and shareholder service fees brought in $17.3M (9%); Distribution and service fees brought in $11.8M (6%). Of every dollar of revenue, 14¢ was left as operating profit, 22¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Investment management fees | $171M | 84.8% | +1% | -5% |
| ↳ Open-end funds | $61.5M | 30.5% | -4% | -13% |
| ↳ Retail separate accounts | $42.7M | 21.2% | -10% | -18% |
| ↳ Institutional accounts | $37.9M | 18.8% | +2% | -11% |
| ↳ Closed-end funds | $28.8M | 14.3% | +39% | +94% |
| Administration and shareholder service fees | $17.3M | 8.6% | +0.2% | -4% |
| Distribution and service fees | $11.8M | 5.8% | +1% | -2% |
| Other income and fees | $1.4M | 0.7% | -3% | +37% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $201M | 100.0% |
| Operating profit | $27.3M | 13.6% |
| Income tax | $8.4M | 4.2% |
| Net earnings | $45.3M | 22.5% |
| Operating cash flow | $57.4M | 28.5% |
| Free cash flow | $56.1M | 27.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $201M | -4% |
| Q1 2026 | $200M | -8% |
| Q4 2025 | $208M | -11% |
| Q3 2025 | $216M | -5% |
| Q2 2025 | $211M | -6% |
| Q1 2025 | $218M | -2% |
| Q4 2024 | $233M | +9% |
From Virtus Investment Partners' 10-Q filed Aug 7, 2026 (on EDGAR).
Questions
How does Virtus Investment Partners make money?
Virtus Investment Partners (VRTS) made $201M of revenue in the second quarter 2026 (Q2 2026), -4% from a year earlier. Investment management fees brought in $171M (85%); Administration and shareholder service fees brought in $17.3M (9%); Distribution and service fees brought in $11.8M (6%). Of every dollar of revenue, 14¢ was left as operating profit, 22¢ was left as net earnings.
What is Virtus Investment Partners' biggest business?
Investment management fees: $171M in the second quarter 2026, 85% of revenue, -5% from a year earlier.
What is Virtus Investment Partners' profit margin?
Net earnings were $45.3M, 22.5% of revenue, in the second quarter 2026; the operating margin was 13.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.