This book is plan-sponsor mandate money — collective investment trusts and separate accounts, largely for retirement plans, not publicly traded funds. It moves when a sponsor changes or funds a mandate, so the same index strategy can move here and not in the iShares book run by BlackRock Fund Advisors, whose flows are ETF creations and redemptions. BTC is also BlackRock's securities-lending agent. Same portfolio team and same stewardship team as BFA — the split is the client vehicle, not the investment decision, which is why some reports fold this entity into BFA. BlackRock itself does not: of the 8,204 holdings lines naming one of these two entities on BlackRock, Inc.'s Q2 2026 13F, none named both.
Often confused with BlackRock Fund Advisors
| # | Security | Shares | Value | % of Portfolio |
|---|---|---|---|---|
| 1 | Cisco SYS Inc(CSCO) | 138,989,101 | $4.2B | 13.88% |
| 2 | Abbvie Inc(ABBV) | 43,460,085 | $2.7B | 8.99% |
| 3 | Costco Whsl Corp New(COST) | 11,833,614 | $1.9B | 6.26% |
| 4 | Biogen Inc(BIIB) | 6,102,240 | $1.7B | 5.72% |
| 5 | Conocophillips |
Latest filing, equity positions only
| 34,391,585 |
| $1.7B |
| 5.70% |
| 6 | Charter Communications Inc N(CHTR) | 5,578,573 | $1.6B | 5.31% |
| 7 | Adobe SYS Inc(ADBE) | 14,163,637 | $1.5B | 4.82% |
| 8 | Alibaba Group Hldg LTD(BABA) | 15,979,818 | $1.4B | 4.64% |
| 9 | Crown Castle Intl Corp New(CCI) | 9,679,829 | $839.9M | 2.78% |
| 10 | Boston Scientific Corp(BSX) | 37,879,324 | $819.3M | 2.71% |
Quarter-over-quarter weight changes
| Sector | Prev % | Curr % | Change |
|---|---|---|---|
| Healthcare | 23.94% | 22.66% | -1.28% |
| Energy | 5.46% | 6.19% | +0.73% |
| Consumer Cyclical | 13.77% | 13.08% | -0.69% |
| Consumer Defensive | 9.38% | 10.02% | +0.64% |
| Industrials | 3.23% | 3.85% | +0.62% |
| Technology | 28.16% | 27.63% | -0.53% |
| Communication Services | 5.5% | 5.8% | +0.3% |
| Financial Services | 1.88% | 2.07% | +0.19% |
| Utilities | 2.3% | 2.2% | -0.1% |
| Basic Materials | 0.33% | 0.4% | +0.07% |
| Real Estate | 5.6% | 5.64% | +0.04% |
| Unclassified | 0.46% | 0.46% | 0% |
Quarter-over-quarter weight changes by market cap
| Cap Size | Prev % | Curr % | Change |
|---|---|---|---|
| Large Cap | 51.02% | 50.94% | -0.08% |
| Mega Cap | 36.85% | 35.33% | -1.52% |
| Mid Cap | 8.2% | 9.03% | +0.83% |
| Small Cap | 2.41% | 3.15% | +0.74% |
| Micro Cap | 1.07% | 1.09% | +0.02% |
| Unclassified | 0.46% | 0.46% | 0% |
Quarter-over-quarter position changes