UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value BLK New York Stock Exchange 1.250% Notes due 2025 BLK25 New York Stock Exchange FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For t ...

BlackRock Inc. (NYSE:BLK) Q4 2019 Earnings Conference Call January 15, 2020 8:30 AM ET Corporate Participants Christ Meade - General Counsel Gary Shedlin - Chief Financial Officer Larry Fink - Chairman and Chief Executive Officer Rob Kapito - President Conference Call Participants Dan Fannon - Jefferies Robert Lee - KBW Ken Worthington - JPMorgan Patrick Davitt - Autonomous Research Alex Blostein - Goldman Sachs Brian Bedell - Deutsche Bank Operator Good morning, my name is Laurie, and I will be your confer ...

Summary of BlackRock, Inc. Conference Call Company Overview - **Company**: BlackRock, Inc. (NYSE: BLK) - **Event**: 2019 Goldman Sachs US Financial Services Conference - **Date**: December 11, 2019 - **Participants**: Gary Shedlin (CFO), Alexander Blostein (Goldman Sachs) Key Points Industry and Company Performance - BlackRock reported approximately **$300 billion** of net flows for the first three quarters of 2019, with strong performance in **iShares**, fixed income, and cash management capabilities [2][3] - The company aims for a long-term organic fee growth target of **5%**, with recent organic fee growth at around **3%** [3][4] - Over the last 12 months, BlackRock achieved about **$350 billion** in flows, translating to **5%** organic growth, but the yield from these flows was lower due to a preference for lower-fee fixed income and cash products [5][6] iShares and ETF Growth - iShares has been a significant growth driver, with **$160 billion** in flows year-to-date, indicating high single-digit to **10%** organic growth [10][11] - BlackRock expects low double-digit growth in assets over the next five years, which could lead to over **5%** organic fee growth [11][12] - The iShares business is segmented into core, strategic, and precision exposures, with the strategic segment (including fixed income and factors) showing strong growth rates [12][14] Market Dynamics and Competitive Position - The shift to **zero-commission trading** is seen as a long-term positive for BlackRock, enhancing access to ETFs and benefiting market leaders with scale and technology [18][19] - BlackRock's share on e-broker platforms has increased, with about **$400 billion** of ETFs on these platforms [21] - The merger of e-brokers is expected to narrow the product provider landscape, benefiting firms with strong brand recognition and efficient sales forces [23][24] Pricing Strategy - BlackRock maintains a disciplined pricing strategy for iShares, focusing on value propositions rather than chasing market share [26][27] - Pricing investments have been around **1.5% to 2.5%** of iShares revenue, with a focus on maintaining profitability while investing in growth [27][28] Alternatives Business - BlackRock's alternatives business is significant, with a total of **$225 billion** in assets, including liquid and illiquid alternatives [31][32] - The company is focusing on both organic growth (hiring and operational infrastructure) and inorganic growth (targeted acquisitions) in the alternatives space [33][34] Technology and Innovation - BlackRock has invested heavily in technology, particularly in its Aladdin platform, which integrates portfolio management and risk analytics [38][39] - Aladdin Wealth is a newer initiative aimed at providing wealth management solutions, with **13 clients** across **11 countries** [42] Financial Outlook - BlackRock aims to keep core G&A expenses flat, focusing on optimizing the model for organic growth [44][46] - The company is committed to maintaining differentiated growth and managing margins effectively [47] Additional Insights - The preference for fixed income and cash products has impacted fee growth, as these products typically carry lower fees [5][6] - The strategic segment of iShares, particularly in fixed income, is expected to drive significant growth, with **40%** annualized organic growth reported in this area [14][15] - BlackRock's approach to technology and client solutions is seen as a competitive advantage in a rapidly evolving market [39][40]

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value BLK New York Stock Exchange 1.250% Notes due 2025 BLK25 New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $.01 par value BLK New York Stock Exchange 1.250% Notes due 2025 BLK25 New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission file number 001-33099 BlackRock, Inc. (Exact name of registrant as specified in its charter) 32-0174431 Incorporation or Organization) (I.R. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 001-33099 BlackRock BlackRock, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0174431 (State or Other Jurisdictio ...