# Blackrock Fund Advisors

> Blackrock Fund Advisors is an SEC-registered investment advisory firm in San Francisco, CA, registered since 1984, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated May 15, 2026.

- CRD: 105247
- Filed as: BLACKROCK FUND ADVISORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: May 15, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105247
- AdvisorCensus page: https://advisorcensus.com/firm/blackrock-fund-advisors-san-francisco-ca-105247

## Quick answers

**How is Blackrock Fund Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Blackrock Fund Advisors reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Blackrock Fund Advisors located?**
Blackrock Fund Advisors' principal office is in San Francisco, CA, according to its Form ADV; the June 2026 filing also lists 6 other offices (Schedule D, Section 1.F).

**Is Blackrock Fund Advisors registered with the SEC or a state?**
Blackrock Fund Advisors is an SEC-registered investment advisory firm, registered since 1984. Status as filed: Approved. CRD 105247.

**How much does Blackrock Fund Advisors manage?**
Blackrock Fund Advisors reports $4,282,224,366,957 in regulatory assets under management in its Form ADV filing dated May 15, 2026 (100% discretionary).

**How have Blackrock Fund Advisors' assets and staff changed since 2021?**
In the Form ADV data for Blackrock Fund Advisors: Regulatory assets under management: $2,250,525,236,655 in the October 2021 data and $4,282,224,366,957 in the October 2026 data, up 90%. Total employees: 628 in October 2021 and 128 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Blackrock Fund Advisors serve?**
By number of clients on Form ADV Item 5.D: investment companies (520); pooled investment vehicles (other than investment companies and business development companies) (8).

**Which custodians does Blackrock Fund Advisors use?**
Blackrock Fund Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JP Morgan Chase Bank N.A. as a custodian holding 10% or more of its separately managed account assets.

**Does Blackrock Fund Advisors report any disciplinary disclosures?**
Reports 9 disclosure items on Form ADV Item 11: yes answers to 7 questions about regulatory matters and 2 questions about civil court matters (11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.E(2), 11.G, 11.H(1)(c), 11.H(2)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105247

**What changed in Blackrock Fund Advisors' recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 120 to 122. Regulatory assets under management went from $3,535,403,132,528 to $4,282,224,366,957 (+21%). Added an office in West Palm Beach, CA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- JP Morgan Chase Bank N.A.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $4,282,224,366,957
- Discretionary: $4,282,224,366,957
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 520 | $4,277,634,633,004 |
| Pooled investment vehicles (other than investment companies and business development companies) | 8 | $3,214,883,658 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $1,374,850,295 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1984 (41 years)
- Employees: 128 total, 122 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 9 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
- 11.G: Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?
- 11.H(1)(c): Has a domestic or foreign court ever dismissed, under a settlement agreement, an investment-related civil action brought against the firm or an advisory affiliate by a state or foreign financial regulator?
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105247

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- Atlanta, GA
- Boston, MA
- New York, NY
- Philadelphia, PA
- Princeton, NJ
- West Palm Beach, CA

### Websites listed on Form ADV (Item 1.I)
- blackrock.com
- douyin.com/user/MS4wLjABAAAATX0BkoY3SXPImjHUWTdWi02SNLwyACHjdmAnkjp298lIw88FuDLmYo-nln-UitiK
- ishares.com
- line.naver.jp/ti/p/@blackrocktw
- mp.weixin.qq.com/mp/profile_ext
- Facebook @BlackRock
- Facebook @iShares
- Instagram @blackrock
- LinkedIn @blackrock
- LinkedIn @ishares
- TikTok @blackrock
- X @blackrock
- X @ishares
- YouTube @UC61MWzrpcsazp23LOxCsTcg
- YouTube @UCrIXkHfv2tMzebAI1TcdDhg

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,250,525,236,655 | 628 | August 12, 2021 |
| October 2022 | $2,757,348,004,181 | 710 | September 1, 2022 |
| October 2023 | $2,406,691,634,676 | 754 | July 6, 2023 |
| October 2024 | $3,047,294,350,591 | 700 | September 20, 2024 |
| October 2025 | $3,535,403,132,528 | 126 | July 30, 2025 |
| October 2026 | $4,282,224,366,957 | 128 | May 15, 2026 |

Regulatory assets under management: $2,250,525,236,655 in the October 2021 data and $4,282,224,366,957 in the October 2026 data, up 90%.
Total employees: 628 in October 2021 and 128 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 120 to 122.
- Regulatory assets under management went from $3,535,403,132,528 to $4,282,224,366,957 (+21%).
- Added an office in West Palm Beach, CA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Blackrock Fund Advisors (CRD 105247): Form ADV filing data as of October 2026.