We’re buying 13 shares of BlackRock at roughly $987 each. Following Friday’s trade, Jim Cramer’s Charitable Trust will own 30 shares of BLK, increasing its weighting to 0.85% from 0.5%. With the stock market oversold, according to the S & P Short Range Oscillator momentum tool, we want to put cash to work in names that have gotten beaten up recently and can improve our average cost basis. We would be buyers of Advanced Micro Devices and CrowdStrike if we were not restricted, but one stock we can buy right here is BlackRock. BLK 3M mountain BlackRock 3 months BlackRock has pulled back about 3% since our first buy on Oct. 16 — making this a good level to scale a little deeper into this newer name. We started this position shortly after the world’s biggest asset manager reported strong third-quarter results with revenue up 15% year over year, 5% growth base fee growth, $221 billion of net inflows, and 350 basis points of adjusted operating margin expansion. BlackRock ended Q3 with $11.5 trillion in assets under management — growth of $2.4 trillion or 26% over the last 12 months. Our CNBC Investing Club Reporter Morgan Chittum took a look at a few catalysts on the horizon that can keep BlackRock’s earnings momentum going. Catalyst #1: Increasing investments into infrastructure There will be more capital flooding into infrastructure, in part, from the green energy transition. Look at the exposure BlackRock has to the trend already. The firm’s $12.5 billion acquisition of Global Infrastructure Partners (GIP) gives BlackRock the clients and assets of the largest global independent infrastructure manager. This includes portfolios with exposure to energy, transport, waste and water. BlackRock CEO Larry Fink has previously forecasted more infrastructure investments as well. In his 2024 annual letter to shareholders , the co-founder wrote that the $1 trillion infrastructure sector is “one of the fastest growing segments of private markets and there are some undeniable macroeconomic trends driving this growth.” “In developing countries, people are getting richer, boosting demand for everything from energy to transportation while in wealthy countries, governments need to both build new infrastructure and repair the old,” Fink added. “Even in the U.S., where the Biden Administration has signed generational infrastructure investments into law, there’s still $2 trillion worth of deferred maintenance.” But it’s more than just the transition to renewable energy. More infrastructure investments can also come on the back of generative artificial intelligence adoption. Think about crucial end markets like data center construction, along with the energy need to power those facilities. To that end, BlackRock and fellow Club name Microsoft announced plans in September to launch a more than $30 billion AI infrastructure fund. Catalyst #2: Private markets are continuing to grow BlackRock announced a $3.2 billion acquisition of alternatives market data provider Preqin in July. Sudhir Nair, global head of Aladdin, a BlackRock investment platform, said the Preqin deal aims to make “private markets investing easier and more accessible while building a better-connected platform for investors and fund managers.” Elsewhere, BlackRock’s GIP deal also shows investors that the firm “got back on the front foot” in private markets growth, Evercore ISI said in a recent note. Morgan Stanley analysts also recently argued that “private markets are increasingly a strategic priority for BLK that supports positive [business] mix shift and growth outlook.” Catalyst #3: Fed rate cuts boost inflows into fixed-income Lower interest rates should push some of the record amount of assets in Money Markets into bond funds and exchange-traded funds (ETFs). The Federal Reserve meets next week and Wall Street is wondering how central bankers will follow up their jumbo 50-basis-point September rate cut, which kicked off their easy cycle. The market odds are for a 25-basis-point cut when the Fed’s two-day meeting ends Thursday. The likelihood of another 25 in December increased after Friday’s employment report, even with the negative impacts of the Florida hurricanes and Boeing strike, saw nonfarm payroll growth of just 12,000 versus the 100,000 expected. Speaking at a CEO panel in Riyadh, Saudi Arabia on Tuesday, Fink said the Fed won’t cut rates as much as markets expect because “embedded inflation” is too high. (Jim Cramer’s Charitable Trust is long BLK, MSFT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.