(As of December 12, 2025 | Post Q3 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $171 billion (based on ~$1,101/share and 155 million shares outstanding)
Introduction
BlackRock, Inc. (NYSE: BLK), founded in 1988 by Larry Fink and a group of partners in New York City, is the world's largest asset manager, overseeing ~$13.5 trillion in AUM across ETFs (iShares), mutual funds, alternatives, and advisory services. As a public company since 1999, it operates with a single-class share structure (one vote per share), ensuring broad accountability. Ownership is institutionally concentrated (~80%), with insiders ~0.5% (executives like Fink), and retail ~20%. The table below details the top 10 economic shareholders from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity includes $375M in Q3 buybacks (concluding the $16.75B program from 2010) and minor insider gifts (no major sales in Dec 2025).
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($171B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Vanguard Group Inc. | 8.92% | $15.3 billion | Largest holder via index funds (e.g., VTI, VOO); owns ~13.84M shares as of Sep 30, 2025. Passive with ~$9.3T AUM; added ~0.3% YoY; core S&P 500 weighting (~6%). No direct control; focuses on ETF/iShares growth. |
| 2 | BlackRock Inc. (Self-Held) | 6.49% | $11.1 billion | Holds ~10.07M shares through its own index funds/ETFs (e.g., iShares); passive self-ownership. Stable QoQ; reflects circular index dynamics; ~0.3% of total AUM. |
| 3 | State Street Corporation | 4.02% | $6.9 billion | Owns ~6.23M shares via SPDRs (e.g., SPY); fully passive. Stable QoQ; votes proxies on exec comp/ESG. ~4% of financial holdings; supports $20B annual buybacks. |
| 4 | Temasek Holdings Pte Ltd. | 3.28% | $5.6 billion | Singapore sovereign wealth fund; ~5.09M shares. Strategic long-term holder; no recent changes; focuses on global diversification. |
| 5 | Bank of America Corp /DE/ | 3.26% | $5.6 billion | ~5.06M shares; strategic peer holding. Stable QoQ; synergies in wealth management/financing. |
| 6 | Geode Capital Management, LLC | 2.32% | $4.0 billion | Fidelity affiliate with ~3.60M shares in index trackers; passive. Grew ~0.3% in Q3; tracks Nasdaq 100; minimal voting power. |
| 7 | Capital World Investors | 2.00% | $3.4 billion | ~3.10M shares in growth strategies; active manager. Added ~5% in Q3; holds for alternatives/private markets (~$1.1T AUM). |
| 8 | T. Rowe Price Associates Inc. | 1.80% | $3.1 billion | ~2.80M shares in growth funds (e.g., Blue Chip); stable QoQ; focuses on fee-related earnings (up 25% Q3). |
| 9 | Wellington Management Group LLP | 1.50% | $2.6 billion | ~2.33M shares; active with Q3 additions. Engaged on ESG/sustainability; advisory role. |
| 10 | Laurence D. Fink (Chairman & CEO) | 0.43% | $0.7 billion | ~670K shares; largest individual insider. Recent stability; oversees strategy since 1988; net worth ~$1.2B tied to performance. |
Total Top 10 = ~52.62% | Remaining: Other Institutions (~28%), Other Insiders (~0.07%, e.g., Robert S. Kapito President at ~0.02%), Retail (~20%) | Grand Total = 100%
Conclusion
As of December 2025, BlackRock's ownership is institutionally led (~80% total) by passive giants like Vanguard and its self-held stake, ensuring stability for its $6.51B Q3 2025 revenue (up 25% YoY, surpassing estimates) and $11.55 adj. EPS (up 1% YoY, though GAAP $8.43 missed due to acquisition costs), with record $205B net inflows and $13.5T AUM (up 10% YoY) driven by ETFs/private markets. Insiders (~0.5% combined) like Fink align on diversification (e.g., HPS/GIP integrations adding $165B AUM), while retail's ~20% stake reflects global appeal. With $171B market cap (up 8% YoY) and $20B buybacks authorized (post-$16.75B program completion), expect ~0.5% annual share reductions, minor institutional rebalancing in Q4 13Fs (due Feb 2026), and FY2025 revenue ~$21B (up 15%). This structure supports asset management dominance via $20.84 annual dividends (1.92% yield). For filings, visit SEC EDGAR or BlackRock's investor relations.