BlackRock AUM Hits $15.5 Trillion in Q3 2026
BlackRock reported $15.5 trillion in assets under management at September 30, 2026, in materials published October 14, 2026. Earnings supplement
The quarter closed at $15.49 trillion on a precise basis, up 15% from a year earlier and a record. Yahoo Finance Scale matters here. A 15% gain on a $13 trillion base adds more than $2 trillion in twelve months.
Sequential growth was modest. BlackRock had reported $15.34 trillion for the second quarter of 2026. Reuters That puts the third-quarter increment at roughly $150 billion quarter on quarter, against roughly $2.03 trillion year on year. The year-ago comparison was $13.46 trillion for the quarter ended September 30, 2025. Reuters
The longer series frames the move. Second-quarter 2025 AUM was $12.53 trillion. Third-quarter 2024 was $11.48 trillion. Third-quarter 2023 was $9.10 trillion. Third-quarter 2022 was $7.96 trillion, down 16% year on year. Reuters From that 2022 trough to September 2026, stated AUM has added about $7.5 trillion.
The broader context here is what that denominator does to interpretation. Year-on-year percentages flatter when the base was depressed and compress when the base is elevated. A 15% print on $13.46 trillion is a very different operating and risk fact than a larger percentage on a $8 trillion base. For capacity, liquidity management, and fee realization, the absolute increment matters more than the rate.
In my view, the sequence from 2022 through 2026 also cautions against reading AUM as a pure flow signal. Stated AUM is a stock. It aggregates net client activity, market price changes, currency translation, and deal-related additions or disposals. Without the split between those components, the headline cannot isolate organic demand from beta pass-through. That distinction drives revenue quality, margin, and persistence.
Looking at what this means for modeling, two habits help. First, separate sequential from year-on-year. Sequential shows the marginal quarter. Year-on-year shows the cycle. Second, track the dollar delta alongside the percentage. At $15 trillion-plus, single-digit percentages still imply trillion-dollar balance-sheet footprints for clients, counterparties, and market structure. Small rates, large levels.
