BlackRock reported $15.49 trillion in assets under management at Sept. 30, 47.6% of the U.S. Bureau of Economic Analysis' $32.56 trillion annualized GDP estimate for the second quarter, alongside $205.466 billion in quarterly net inflows.
The two figures measure different things. AUM is measured at quarter-end, while GDP reflects production over a quarter expressed at an annual rate. The $32.56 trillion GDP figure serves as the denominator for the 47.6% comparison. The ratio shows relative scale; it does not indicate BlackRock’s ownership of U.S. economic activity.
Quarterly net inflows were slightly above the $204.642 billion recorded in the year-earlier quarter. AUM was 15% higher than the $13.464 trillion reported at the end of September 2025.
BlackRock’s iShares exchange-traded funds drew $134.51 billion during the quarter. In the 12 months through Sept. 30, the firm recorded $869 billion in net inflows and raised $68 billion in private markets.
BlackRock reported revenue of $7.75 billion, up 19% from a year earlier. GAAP diluted earnings were $10.57 a share, compared with $8.43. Adjusted diluted earnings were $15.93 a share, an increase of 38%.
BlackRock Chairman and CEO Laurence D. Fink said, “Clients entrusted us with $205 billion of net inflows this quarter, and $869 billion over the last year.”
BlackRock counts discretionary client assets covered by agreements expected to run for at least a year. Assets under advisory-only arrangements or temporary management are excluded.
