BlackRock (BLK -2.59%) is a leading global investment management firm. The company hit a record $12.5 trillion of assets under management (AUM) toward the end of 2025. These assets run the gamut from shares in large publicly traded companies to single-family homes and critical infrastructure assets like pipelines. The company manages these assets on behalf of retail, institutional, and exchange-traded fund (ETF) clients.
NYSE: BLK
Key Data Points
At its core, BlackRock is in the asset management business, meaning it manages assets on behalf of the clients who own those resources. So, while BlackRock's funds hold significant stakes in some of the largest companies in the world, the investors in those funds actually own the equity interests in those companies -- not BlackRock.
BlackRock is a massive company with significant assets on its balance sheet ($57.9 billion at the end of 2025's third quarter). In addition, while BlackRock will seed new funds with balance sheet capital and co-invest in others, they're relatively small investments.
To help address some of the misconceptions about BlackRock, here's a look at some of the companies it actually owns and a peek at what it might buy next. Understanding what BlackRock owns and does will help investors better understand the company and determine whether they want to invest money in its stock.
What companies does BlackRock own?
BlackRock has acquired several companies over the years to expand its investment management capabilities. Here's a look at some of the companies it now owns:
Asset Management
Other investments
In addition to wholly owned companies, BlackRock has made several strategic minority investments, including:
- Acorns: The company invested in the micro-investing app in 2018. BlackRock has expanded the partnership and its investment over the years, and it is now an anchor investor in Acorns.
- iCapital: BlackRock increased its stake in the leading technology platform for alternative investments in 2020. It's the largest minority investor in the company.
What companies could BlackRock buy in the future?
BlackRock is an active acquirer. It routinely makes tactical acquisitions to expand its investment management platform. The company reached agreements to acquire additional companies in 2024:
- Prequin: BlackRock agreed to buy the leading independent provider of private markets data for $3.2 billion in cash in mid-2024. The acquisition will expand its tech business into the rapidly growing private market's data sector.
- HPS Investment Partners: The company agreed to buy the leading global credit investment manager for $12 billion in stock in December 2024. The deal will create an integrated private credit franchise with $220 billion in client assets.
Given that the company has already made several acquisitions in 2024, it could be a while before BlackRock makes its next deal because it will need to spend some time integrating the new businesses. However, when the company is ready to make another deal, it has the financial flexibility to continue buying companies.
BlackRock has a well-defined strategy for inorganic investments. It will make tactical acquisitions to build out its platform capabilities and make strategic minority investments in companies it could seek to acquire.
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The bottom line on companies BlackRock owns
There are a lot of misconceptions about the companies BlackRock owns. The investment manager is often one of the top shareholders of many large U.S. companies. However, it manages those shares on behalf of clients in its ETFs and other investment products that are the actual equity owners in the companies and other assets BlackRock manages. BlackRock owns a few companies, such as investment management and technology platforms. Learning about what BlackRock owns and how it makes money can help investors gauge whether it's a good stock to buy and hold for the long term.
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