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Visualizing BlackRock’s Top Equity Holdings

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BlackRock Top 25 Equity Holdings 2023

Visualizing BlackRock’s Top 25 Equity Holdings

Founded just 34 years ago in 1988, BlackRock has quickly become the world’s largest asset manager with over $9 trillion in assets under management (AUM).

Given this status, BlackRock’s equity portfolio may provide useful insights to investors. To learn more, we’ve visualized the firm’s top 25 equity holdings as of Q1 2023. At that time, these 25 positions were worth over $1 trillion, and they represented about 30% of BlackRock’s overall equity portfolio.

Top 25 Data

The following table shows the data we used to create this infographic. These figures come from BlackRock’s latest 13F filing, which was released on May 12.

ℹ️ The 13F is a mandatory, quarterly report that is filed by institutional investment managers with over $100 million in AUM.
RankNameSectorValue of Holdings (USD billions)
1AppleInformation Technology$171
2MicrosoftInformation Technology$155
3AmazonConsumer Discretionary$63
4NvidiaInformation Technology$51
5Google (Class A)Communications$44
6Google (Class C)Communications$38
7TeslaConsumer Discretionary$37
8UnitedHealth GroupHealth Care$35
9MetaCommunications$32
10Berkshire Hathaway (Class B)Finance$32
11Johnson & JohnsonHealth Care$31
12Exxon MobilEnergy$30
13iShares Core S&P 500 ETFETF$29
14VisaFinance$28
15JPMorgan Chase & CoFinance$25
16Procter & Gamble CoConsumer Staples$24
17MastercardFinance$24
18Home DepotConsumer Discretionary$23
19Eli Lilly And CoHealth Care$23
20Merck & CoHealth Care$22
21AbbVieHealth Care$22
22ChevronEnergy$22
23PepsiCoConsumer Staples$20
24Coca-Cola CoConsumer Staples$19
25BroadcomInformation Technology$19

As expected, BlackRock’s top equity holdings include America’s most established tech companies: Apple, Microsoft, Amazon, and Google.

BlackRock also has large positions in Nvidia and Broadcom, which happen to be America’s two largest semiconductor companies. Given Nvidia’s incredible YTD performance (198% as of June 19th), this position has likely grown even bigger.

Altogether, tech stocks make up 39% of this top 25 list. The next biggest sector would be healthcare, at 13% of the total value.

Ownership Stakes

How much of a controlling stake does BlackRock have in these companies? We answer this question in the following table, which again uses Q1 2023 data.

Name% OwnershipQuarter 1st Owned
Merck & Co8.24%Q3 2007
UnitedHealth Group8.02%Q4 2008
Berkshire Hathaway (Class B)7.98%Q3 2007
PepsiCo7.96%Q3 2007
AbbVie7.86%Q1 2013
Home Depot7.60%Q3 2007
Nvidia7.44%Q3 2007
Microsoft7.22%Q3 2007
Coca-Cola Co7.20%Q3 2007
Broadcom7.16%Q3 2009
Google (Class A)7.09%Q3 2007
Chevron7.02%Q3 2007
Eli Lilly And Co6.90%Q3 2007
Mastercard6.89%Q3 2007
Procter & Gamble Co6.86%Q3 2007
Exxon Mobil6.83%Q3 2007
JPMorgan Chase & Co6.59%Q3 2007
Visa6.55%Q2 2008
Apple6.54%Q3 2007
Johnson & Johnson6.46%Q3 2007
Google (Class C)6.13%Q2 2014
Amazon5.93%Q4 2008
Tesla5.70%Q3 2010
Meta5.69%Q2 2012

Google’s Class C shares (Ticker: GOOG) do not offer voting rights.

When it comes to shareholder voting, BlackRock has historically voted on behalf of its clients to “advance their long-term economic interests.” Given its massive size, some people believe that BlackRock has too much influence on major corporations.

In 2021, it was reported that BlackRock would begin allowing some institutional clients to cast their own votes at shareholder meetings.

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Investor Education

Which Climate Metrics Suit Your Investment Goals Best?

When selecting climate metrics, it is important to consider your purpose, the applicability and acceptability of the climate strategy, and the availability of historical data.

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Which Climate Metrics Suit You Best? MSCI

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The following content is sponsored by MSCI

Which Climate Metrics Suit Your Investment Goals Best?

According to PwC, 44% of investors believe that companies should prioritize reducing greenhouse gas emissions across their own operations and supply chain.

In this graphic from our sponsor, MSCI, we break down climate metrics and provide valuable insights to help build sustainability-aligned portfolios without the fear of falling for greenwashing.

Essential Climate Metrics for Investors

Here are some widely-used climate metrics, as categorized by MSCI:

Climate MetricDescription
#1Carbon Emissions EVIC IntensityMeasures greenhouse gas emissions per $1 million of financing.
#2Potential Carbon EmissionsEstimates emissions from fossil fuel reserves owned by a company.
#3Implied Temperature Rise (ITR)Assesses alignment with global warming scenarios.
#4Carbon Emissions Revenue IntensityQuantifies emissions per $1 million of revenue.
#5Fossil Fuel RevenueDetermines revenue percentage from fossil fuel-related activities.
#6Cleantech RevenueDetermines revenue percentage from environmental and climate opportunities.
#7Low Carbon Transition (LCT) ScoreEvaluates a company’s exposure to climate transition opportunities.
#8Transition Climate VaRAssesses costs from carbon pricing and low-carbon opportunities.
#9Physical Climate VaREvaluates costs from increased exposure to physical hazards.

Choosing the Right Metrics

Climate investing requires selecting the right measurement tools. For that, it is important to consider your purpose, the applicability, and acceptability of the climate strategy, and the availability of historical data for analysis, among other factors. The infographic above contains a flowchart designed to guide you through several key questions.

For example, do you want to:

  1. Measure your portfolio’s impact on the climate or the climate’s impact on your portfolio?
  2. Analyze present or forward-looking data?
  3. Assess direct impact or indirect impact via supply chains?
  4. Evaluate potential future emissions or projected temperature rise?
  5. Focus on climate risks or opportunities?

MSCI’s climate metrics toolkit can help investors confidently measure, manage, and report their climate risks and opportunities.

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Download MSCI’s climate metrics toolkit now.

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