The Baltimore-based asset manager reported that equity holdings fell to $896 billion from $919 billion in June, marking the largest decline among asset classes. Multi-asset portfolios also saw a slight retreat, dropping to $687 billion, while fixed income and alternative investments remained steady at $222 billion and $62 billion, respectively. Despite these monthly fluctuations, the firm’s target date retirement portfolios—a cornerstone of its long-term strategy—maintained a significant presence at $620 billion. The firm currently manages $1.87 trillion in client capital, with approximately two-thirds of that total tied to retirement-related accounts.