Who Owns BlackRock? Top 10 Shareholders & Ownership Structure

BlackRock is owned predominantly by institutional investors, who hold roughly 61–65% of its shares. With a market capitalisation of around $180 billion and assets under management (AUM) exceeding $11.6 trillion, the company is among the Big Three index managers.  

🔑 Key Statistics: 

• Market capitalisation ~$180 billion  
• Assets Under Management (AUM) ~$11.6 trillion  

*As of 18 September 2025, NASDAQ.  

In this article, you’ll learn which institutions and individuals hold BlackRock shares, how much influence they wield through BlackRock Investment Stewardship and why knowing who owns BlackRock is important for investors. 

The information in this article is provided for educational purposes only and does not constitute financial advice. Consult a financial advisor before making investment decisions.

Key Takeaways 

• BlackRock (BLK) offers asset management, advisory services and risk management solutions.
• Most BlackRock shareholders are institutional investors like Vanguard Group and State Street Corp.   
• Individual BlackRock shareholders include investors like Susan Wagner, Laurence Fink and Robert Kapito.

BlackRock Shareholders' Ownership Structure

BlackRock is governed by a Board of Directors that oversees the company's strategic decisions, such as mergers and acquisitions, executive compensation and long-term corporate strategy. The board works alongside BlackRock Investment Stewardship, which represents the company's interests in exercising voting power on behalf of institutional clients.  

So who are the shareholders of BlackRock? Institutional shareholders own roughly 60-80% of BlackRock shares, with the rest held by retail investors. The dominance of institutional ownership means that key decisions, such as board member elections, acquisition approvals, and policy setting, may have significant influence by these large asset managers. While individual shareholders do have rights through voting at annual meetings, they have less overall influence. 

Due to the ownership structure, there is a high emphasis on regulatory compliance. For example, if an institutional investor owns more than $100 million in US securities, it must file the Form 13F with the regulator, the SEC. These are designed to increase transparency regarding ownership and influence. There are also corporate governance mechanisms like shareholder proposals, votes on director nominees, and oversight by independent directors that ensure that institutional power is balanced. Retail investor also has some rights under US securities law, via annual voting, but have less of an influence.

Governance Features 

• Independent Board of Directors with committees for Audit, Compensation, and Governance 
• Institutional and retail investor voting and shareholder proposals 
• Transparency through disclosures in SEC filings and Form 13F 
• Oversight of key corporate strategy decisions (acquisitions, executive pay, etc.) 

BlackRock Shareholder Ownership Infographic 

BlackRock Shareholders: Top 5 Institutional Owners

BlackRock’s largest shareholders are institutional investors, who make up about 79.31% of the company’s ownership. Here are the top five institutional owners of BlackRock, as of 16 September 2025.

1. Vanguard Group  

With roughly 30 million investors, Vanguard Group forms one of the biggest investment companies in the world. The firm is based in Pennsylvania but operates globally, offering advisory services and investment options to its clients.  Vanguard owns around 13.9 million BlackRock shares, which is around 9.04% of the company, making it the largest BlackRock shareholder.  

As one of the Big Three index managers - alongside BlackRock and State Street - Vanguard plays a central role in shaping BlackRock's corporate governance. It has significant voting power on major strategic decisions, executive compensation and policy decisions. Currently, Vanguard owns the most shares of BlackRock.

2. BlackRock Inc  

The risk and asset management company itself is the second largest BlackRock shareholder. With 9,604,250 owned shares valued at $8 billion dollars, the company owns 6.46% of its own BlackRock stock.

3. State Street Corp 

State Street Corp also offers investment and asset management services and is one of the Big Three index managers. The company has offices on four continents, but its main headquarters is in Boston, Massachusetts, in the US. State Street is the third largest shareholder of BlackRock stock, owning 5,928,745 shares which is 3.98% of the company.

4. Bank of America  

Besides its usual banking services, Bank of America is also an active member of the investment market. Its clients have many financial solutions and investment options at their disposal, which is in line with the company’s goal to give the community more control over their finances. Bank of America is the fourth largest institutional BlackRock shareholder, with 5,196,941 shares, 3.49% of the total BlackRock shares, valued at around $4.33 billion.  

5. Temasek Holdings  

The last investor in this top five list is global investment company Temasek Holdings. Based in Singapore, this company has one sole shareholder; the Singaporean government. However, even with the minister of finance at its head, the company remains a commercial one, with little to no interference from the government itself. Temasek Holdings owns 5,115,491 shares, which is 3.44% of BlackRock shares, valued at around $4.26 billion.

BlackRock Shareholders: Top 5 Individual Owners

The remaining 20.69% of BlackRock shares are owned individually, mainly consisting of founders and employees. Here are the top 5 individual owners who own BlackRock, as of 16 September 2025.

1. Susan Wagner  

After co-founding BlackRock, Susan was a director in the asset management company. She retired in 2012 but has remained on the board to this day. Her share of the company comes to roughly $352.9 million, with ownership over 427,887 (0.28%) of the total BlackRock shares, making her the largest individual BlackRock shareholder. 

2. Laurence Fink  

Chairman and executive officer Laurence D. Fink is the second on the list. Being one of the original eight founders, Laurence played a big role in the evolution of BlackRock to the company it is today. Fink also has foundational, yet indirect role in BlackRock Investment Stewardship (BIS) offering strategic direction from sending annual CEO letters to global companies, focusing on ESG-related issues and becoming a leader in proxy voting and corporate engagement. As the second largest individual BlackRock shareholder, he holds 0.27% of BlackRock stock; 414,146 shares with a value of more than $341.6 million. 

3. Robert Kapito 

Like the above-mentioned individuals, Kapito helped found BlackRock and assumed his role as president and director. In addition to his current role at BlackRock, Kapito is actively involved in educational institutions, including the University of Pennsylvania and Harvard Business School. Robert Kapito owns 217,127 of the total shares of BlackRock, which is 0.14% and has a value of $179.1 million. 

4. J. Richard Kushel  

Before his position as Senior Managing Director and Head of the Portfolio Management Group, J. Richard Kushel had assumed many positions within BlackRock. His responsibilities ranged from Head of Strategic Product Management to Chief Product Officer and Deputy COO. As the fourth largest individual BlackRock shareholder, Kushel owns approximately $55.4 million worth of BlackRock shares. This translates to 67,107 shares, making up 0.04% of the total BlackRock shares. 

5. Murry Gerber  

Gerber is currently the Lead Independent Director for BlackRock. Prior to this, he held positions in companies like Shell, Coral Energy, and EQT Corporation. He holds 42,648 shares with a value of $35.2 million, meaning that he owns 0.02% of the company, thus completing the top five individual BlackRock shareholder list. 

BlackRock's Investment Stewardship and Shareholder Influence 

As the world’s largest asset manager, the BlackRock Investment Stewardship (BIS) initiative plays a powerful role in shaping corporate governance across thousands of companies. Through proxy voting and corporate engagement, the aim of the BIS is to promote long-term value creation by holding boards accountable on issues like climate risk, independence, executive pay and social impact. 

BlackRock's Voting Choice program allows certain institutional clients to direct how votes are cast on their behalf. The aim is to increase shareholder democracy while maintaining fiduciary responsibility. While BlackRock manages passive index funds it also engages in shareholder activism through its voting on shareholder proposals.  

Historically, the BIS has supported resolutions tied to climate risk, diversity, and transparency over political lobbying. Its stewardship activities also include: 

• Engaging 3,000+ companies annually across governance, environmental, and social topics 
• Voting on over 170,000 proposals globally in the last proxy season 
• Promoting climate transition solutions and net-zero alignment 

📊 Stewardship Snapshot 

• Over $11.6 trillion AUM, resulting in more than 5% voting power in nearly every S&P 500 company 
• BIS team spans 30+ professionals across major financial hubs around the world 
• 2,500 annual engagements with over 1,900 companies across 44 markets 
• 16,800+ shareholder meetings, voting on over 152,000 proposals 
• 11% of global shareholder proposals support by BIS 
• Supported 90% of director elections, rejected 10% due to governance concerns 

Source: BlackRock Investment Stewardship Annual Report 

How to Invest in BlackRock Shares

With Admiral Markets, you can trade and invest in over 4,000 stocks, like BlackRock, with the following commissions on US stocks: $0.02 per share, 1 USD minimum commission. Learn more about commissions on the Admiral Markets Contract Specification page.

⚠️ Risk Warning 

Past performance is not a guarantee of future results. Investing in asset management stocks carries risk, including loss of principal, regulatory changes, and sensitivity to macroeconomic, market, and interest rate swings. Evaluate your risk tolerance and consider holding for the long term. 

To invest in BlackRock shares: 

1. Open an account with Admiral Markets by completing the onboarding process.
2. Click on Trade on one of your live or demo trading accounts to open the web platform.
3. Search for your symbol at the top of the search window.
4. Click Create New Order in the bottom window to open a trading ticket to input your trade size, stop loss and take profit level.

BlackRock pays quarterly dividends, which are declared in advance. In 2025, the dividend payment was around $5.21 per share but these change over time. While BlackRock has a strong brand and dominant market position, its stock price is sensitive to market downturns, regulation and compliance pressures and rising competition.

Pros and Cons of Investing in BlackRock 

👉 Important Considerations 

• Understand BlackRock’s dividend policy and how it can change 
• Consider how macroeconomic cycles influence its AUM 
• Monitor regulatory developments, especially around ESG and fiduciary duty 
• Analyse BlackRock’s competitive positioning vs rivals 

Conclusion 

As a publicly owned entity, BlackRock has many shareholders trying to capitalise on its potential growth. Even though all of BlackRock’s shares are open to the public, the company itself is the second largest institutional shareholder. Additionally, the top five individual shareholders are all founders or long-term employees of the company, linking those shares (indirectly) back to the company as well. The rest of the largest institutional shareholders are major companies or corporations like Vanguard Group, State Street Corp, Bank of America and Temasek Holdings.

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FAQs on Largest BlackRock Shareholders

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