BlackRock's better-than-expected quarterly results Tuesday helped push the stock to a fresh record high. The market sees what we see: The asset manager's pursuit of growth beyond lower-cost stock and bond funds is bearing fruit. Revenue in the third quarter rose 25% year over year to $6.51 billion, topping the $6.22 billion estimate, according to LSEG. Adjusted earnings per share (EPS) in the three months ended Sept. 30 totaled $11.55, ahead of the $11.24 consensus, LSEG data showed. Assets under management (AUM) at the end of the quarter reached a record $13.463 trillion, outpacing the Bloomberg consensus of $13.375 trillion. BlackRock shares were up about 2% in midday trading, to roughly $1,179 apiece, defying the downbeat broader market, which was weighed down by rising U.S.-China trade

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