3. BlackRock, Inc. (NYSE:BLK)
Ivy Lane Capital Stake Value: $19,685,000
Percentage of Ivy Lane Capital’s 13F Portfolio: 13.85%
Number of Hedge Fund Holders: 49
BlackRock, Inc. (NYSE:BLK) is a New York-based American international investment management company. BlackRock, Inc. (NYSE:BLK) has approximately 70 offices in more than 30 countries, serving clients in more than 100 countries. BlackRock, Inc. (NYSE:BLK) has featured on Ivy Lane Capital’s portfolio since the fourth quarter of 2020. Regulatory filings reveal that the hedge fund owned 21,500 shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter of 2021, worth $19.69 million, representing 13.85% of the total portfolio.
On February 23, FactSet Research Systems Inc. (NYSE:FDS) and BlackRock, Inc. (NYSE:BLK) announced a multi-year partnership to provide clients a consistent experience across multi-asset portfolio and risk management, as well as trade execution.
The number of hedge funds tracked by Insider Monkey having stakes in BlackRock, Inc. (NYSE:BLK) grew to 49 in Q4, from 44 in the preceding quarter. These stakes hold a consolidated value of $1.49 billion, up from $1.09 billion.
Baron Funds mentioned BlackRock, Inc. (NYSE:BLK) in its Q1 2021 investor letter. Here is what the fund said:
“During the quarter, we initiated a position in BlackRock Inc., the world’s largest investment manager with $9 trillion in assets under management. BlackRock offers an array of products across equities, fixed income, alternatives, and cash management to institutional and retail investors worldwide. About one-quarter of BlackRock’s assets under management is actively managed, and the rest is in passive index funds and iShares-branded ETFs. The company offers technology services including the investment and risk management platform, Aladdin, as well as other advisory services and solutions. Over the five years ending December 31, 2020, assets under management and earnings per share grew at compound annual growth rates of 13% and 12%, respectively.
We believe BlackRock is well positioned for continued growth given its diverse product offering, global distribution, brand recognition, and capable management team. With most of its assets in index funds and ETFs, BlackRock is a prime beneficiary of the ongoing shift to passive investing. The company also benefits from increasing demand for sustainable investment strategies and “barbell” strategies that use a combination of low-cost index funds, active and illiquid alternatives products. BlackRock fits squarely within our Tech-Enabled Financials theme given its longstanding commitment to innovation and proprietary technology platform, Aladdin, which serves as the investment and risk management system for both BlackRock and a growing number of institutional investors around the world. We expect BlackRock’s earnings per share will continue to grow at a double digit annual rate over a market cycle through a combination of mid-single-digit growth in assets under management from net inflows, market appreciation, low to mid-teens revenue growth in technology services, modest margin expansion, and share repurchases.”
