Quick overview

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The asset management giant BlackRock, led by Larry Fink, once again demonstrated its strength in the first quarter of 2026, driven largely by a key metric behind its performance: record assets under management (AUM).

The firm ended the quarter with approximately $13.9 trillion in AUM, a figure 20% higher than the same period a year earlier.

The key factor behind this growth was not only scale but also strong capital inflows. During the quarter, the company reported net inflows of about $130 billion, one of the highest levels in recent years.

These inflows partially offset the negative impact of market fluctuations, showing that even during periods of uncertainty, global capital tends to concentrate in the largest asset managers.

ETF business drives growth

Within total AUM, the main engine was the ETF business through iShares, which recorded a record quarter of inflows.

This segment is crucial because it combines scale, low costs and high liquidity, making it one of the most widely used entry points for both institutional and retail investors.

At the same time, BlackRock continues to expand its diversification strategy. Private market assets also posted inflows of roughly $9 billion, reinforcing the firm’s push into higher-margin areas such as private credit and infrastructure.

The combination of traditional and alternative assets allows the company to sustain AUM growth even in challenging market environments.

A resilient business model

Growth in assets is not only a matter of volume but also of business model. BlackRock generates most of its revenue through fees on managed assets, meaning that higher AUM translates directly into greater recurring and predictable income.

Indeed, the company reported a 27% increase in revenue and a 17% rise in profits, driven by higher management fees and performance fees. Revenue reached $6.7 billion, while net income totaled about $2.07 billion.

“Our results tell a story that goes beyond a single quarter,” Fink said. “They reflect a business with growing momentum, strong client relationships and a platform designed to grow sustainably across different market environments.”

“BlackRock operates at scale across public markets, private markets and technology. That combination is becoming increasingly valuable. Capital is on the move as investors reassess market fundamentals and provider relationships, and BlackRock is positioned as a trusted destination,” he added.

Following the announcement, BlackRock shares rose about 3% on the New York Stock Exchange.