BlackRock's assets under management have surpassed $15 trillion, driven by market gains and new client money.

BlackRock has become the first asset manager to cross the $15 trillion threshold, driven by market gains and new client money. The New York-based giant received a net $192 billion from clients in the second quarter of 2026. The firm's assets under management now exceed the projected nominal annual economic output of every country except the US and China.

Assets under management

BlackRock manages more money than the projected nominal annual economic output of every country except the US and China, and nearly three times that of Germany. The firm's assets under management represent a stock of investments, while GDP measures economic output over a year. Equities account for $8.9 trillion, or 58% of the total, while bonds and other fixed-income investments make up a further $3.4 trillion, or 22%.

Investment mix

Multi-asset strategies that combine different investments hold $1.3 trillion, or 9%, while cash-management products, such as Treasury bills, account for another $1.1 trillion, or 7% of the total. Alternative investments, including infrastructure, private credit, private equity and property, remain a small portion at $449 billion, roughly 3% of assets, but generate about 15% of BlackRock’s base fees.

Geopolitical implications

BlackRock's scale has increasingly brought it into deals with geopolitical implications, such as the dispute over ports at either end of the Panama Canal. The firm is also involved in American retirement policy, with an executive order signed by President Trump directing regulators to broaden access to private-market assets through the country's 401(k) pension plans.