BlackRock, is one of the world’s largest asset managers. Data from Market Beat, as of 13 April, 2023, indicated that there were 150,236,000 outstanding shares.
At the end of 2022, the group had USD 8,594.5 billion of assets under management broken down by type of assets into shares (51.6%), fixed income securities (29.5%), multi-asset investments (8%), alternative funds (3.1%) and other (7.8%).
The company is owned by a large number of individual and institutional investors such as, The Vanguard Group and State Street who are merely the custodians of the stock for their clients.
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The following is top three major shareholders of BlackRock according to data compiled by WallStreetZen as of 6 March.
- The Vanguard Group – 9.04%
The Vanguard Group is a US-based asset management firm that oversees more than $8tn in assets for both individual and institutional investors. This financial services firm may own BlackRock (BLK) stock through its various investment vehicles, including exchange-traded funds (ETF’s) and mutual funds.
- State Street Corp – 4.21%
State Street (STT) is one of the most successful financial services companies in the US. The asset management firm overlooks assets worth over $4tn. It is one of the biggest BlackRock shareholders.
- Bank of America – 3.45%
Bank of America (BAC) or BofA is the second biggest bank in the US after JP Morgan (JPM), and one of the country’s Big Four banks, founded in 1923. BofA’s investment management arm BofA Securities would likely be the bank’s division holding BlackRocks stock on behalf of clients.
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In Kenya, Blackrock under a fund known as Climate Finance Partnership, bought nearly a third of the shares in Kenyan wind farm Lake Turkana.
In an article written by Reuters, BlackRock said the fund will acquire the stake in Lake Turkana Wind Power in Kenya’s far north from Finnish development financier Finnfund, Danish wind turbines maker Vestas and the Investment Fund for Developing Countries, a Danish development financier.
