The world’s largest asset manager has become the first company in the industry to surpass the $15 trillion mark.
Most of the money is invested in stocks, while ETFs make up more than 40 percent of total assets under management.
BlackRock has become the first asset manager in history to surpass the $15 trillion mark, or about 13 trillion euros, according to the company’s results for the second quarter of 2026.
The New York-based company managed a record $15.34 trillion in client assets at the end of June, compared with $13.89 trillion at the end of the first quarter and $12.53 trillion a year earlier.
Growth was stimulated by the strengthening of financial markets, but also by a strong inflow of new money. During the second quarter, clients invested a net of 192 billion dollars, or about 167 billion euros, in BlackRock’s products.
Thus, the total inflow in the first half of the year reached a record 321 billion dollars, more than double the results from the same period last year, BlackRock announced.
More than the annual output of almost any country
The scale of BlackRock’s portfolio is best demonstrated by a comparison with the world’s largest economies. The value of assets managed by the company is greater than the projected annual nominal gross domestic product of every country except the United States and China.
This is at the same time almost three times more than the annual nominal GDP of Germany, the largest economy of the European Union.
However, these are two different economic categories: assets under management represent the total value of investments at a certain point in time, while GDP measures the value of goods and services produced during one year, reports Investor me.
Revenue increased by 31 percent
Record assets were accompanied by strong business results. BlackRock’s second-quarter revenue rose 31 percent year-on-year to $7.1 billion, or roughly 6.2 billion euros.
Adjusted earnings were $13.91 per share, well above analysts’ expectations of $12.59. The company’s shares rose more than seven percent after the announcement of the results, Reuters reported.
The CEO of BlackRock Larry Fink assessed that the market fundamentals are strong and supported by the growth of profit margins, earnings and the application of new technologies.
“Our momentum is accelerating and I’ve never been more optimistic about future growth,” Fink said.
Where the money is invested
It is important to emphasize that the $15.34 trillion is not money that belongs to BlackRock. These are the assets of pension funds, insurance companies, states, companies and individual investors, which BlackRock manages for a fee.
The largest part of the portfolio consists of shares. About 8.9 billion dollars, or 7.7 billion euros, were invested in them, which represents approximately 58 percent of the total assets.
Bonds and other fixed income investments are worth about $3.4 trillion and make up 22 percent of the portfolio.
Strategies that combine multiple asset types comprise about $1.3 trillion, or nine percent of the total, while cash management products, including US Treasuries, accounted for approximately $1.1 trillion.
Alternative investments small, but very profitable
Alternative investments, which include infrastructure, private credit, private equity and real estate, are worth about $449 billion. Although they represent only three percent of total assets, they generate approximately 15 percent of BlackRock’s core fees.
In products related to commodities and currencies, 152 billion dollars are invested, while funds related to cryptocurrencies, launched in 2024, manage about 49 billion dollars or approximately 42 billion euros.
In recent years, BlackRock has been particularly expanding its operations in the alternative investment market. The company shelled out about $28 billion to acquire infrastructure investor Global Infrastructure Partners, private equity firm HPS Investment Partners and financial data provider Preqin.
The goal is that from 2025 to 2030, BlackRock will attract a total of 400 billion dollars in private markets, which bring significantly higher fees than classic index funds.
ETFs have become a key engine of growth
About 41 percent of BlackRock’s total assets are in exchange-traded funds – ETFs.
The value of assets managed by iShares, BlackRock’s ETF platform, exceeded six trillion dollars during the second quarter. That’s roughly double what it was just three years ago.
ETFs were also one of the main sources of new money. Of the total inflows in the second quarter, $71.6 billion went into equity products and $92 billion into fixed income products.
Financial power also brings political influence
BlackRock’s enormous financial strength increasingly puts the company in the middle of deals with geopolitical consequences.
One of the most famous examples is the planned purchase of 43 ports from the Hong Kong company CK Hutchison, including terminals at both ends of the Panama Canal. A consortium led by BlackRock in March 2025 agreed on a transaction worth $22.8 billion.
The United States welcomed the deal as a step toward strengthening American influence, while China objected and demanded that the state-owned company Cosco be included in the deal. The transaction has not yet been completed.
The company’s influence also extends to the American pension system. An executive order signed by US President Donald Trump last year directs regulators to ease access to private markets through 401(k) retirement plans.
BlackRock has supported such a shift and is developing products that could steer retirement savings toward private equity, credit and infrastructure — segments that earn asset managers higher fees than traditional index funds.
