BlackRock crosses $15 trillion in assets under management as Larry Fink hails 'strong' market fundamentals

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Asset management giant BlackRock ( BLK ) crossed $15 trillion in assets under management in the second quarter, propelled by strong investor interest in the firm's exchange-traded fund (ETF) products.

BlackRock stock advanced 7% on Wednesday following the release of its earnings report.

Driving assets across the $15 trillion mark was $192 billion in new net client cash in the door during the quarter, with $53 billion in new money added to the firm's actively managed funds.

The firm also set a record for net inflows over the first half of the year, bringing in $321 billion. Net flows into long-term investment funds came in at $199 billion, outperforming analyst expectations of $170 billion, per Bloomberg, while BlackRock's ETF arm brought in $178 billion.

The firm's cash and money-market funds lost $7 billion on a net basis.

"Market fundamentals are strong and well supported, with higher margins and earnings momentum catalyzed by new technology," CEO Larry Fink said in a statement.

Outside of the public markets, BlackRock also plays a major role in private assets, leading a push over the recent year to integrate private markets and other alternative assets into retirement portfolios. The firm brought in $22 billion in liquid alternative and private assets in the quarter.

On an earnings basis, adjusted earnings per share for the quarter rose 15% year over year to $13.91, outperforming expectations of $12.66. Share repurchases are now expected to be $2 billion for 2026, given the company's strength, BlackRock announced.

What drove BlackRock's strong quarterly earnings performance?

Bolstering the results was an 8% growth in "organic base fees," which rise as clients increasingly allocate money to higher-feed funds and projects. The quarter marked the eighth consecutive period in which the firm saw growth of 5% or more on the metric, per Bloomberg.

"The more clients we help participate in the markets, the more our own growth builds — higher organic growth, higher earnings growth, and more value for our shareholders," Fink said. "Our momentum is accelerating."

Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.conley@yahooinc.com .

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