Posted on 04/14/2022 1:41:06 PM PDT by BlackFemaleArmyColonel
While Elon Musk is trying to buy Twitter Inc., he’s no longer the company’s largest shareholder.
Funds held by Vanguard Group recently upped their stake in the social-media platform, making the asset manager Twitter’s largest shareholder and bumping Mr. Musk out of the top spot.
Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.
The asset-manager increased its stake in the company at some point during the first quarter, according to the filings. Vanguard’s holdings are now worth $3.78 billion, based on Twitter stock’s closing price on Wednesday.
That’s enough to knock Mr. Must off the perch as Twitter’s largest shareholder, according to FactSet.
Vanguard isn't making a directional bet on Twitter. Instead, the majority of its assets are in index and other so-called passive funds. The firm often sides with management on voting issues and doesn’t advocate for changes like a hedge fund or activist investor might.
Mr. Musk initially disclosed a stake in Twitter earlier this month of almost 73.5 million shares, but a day later his disclosed stake dropped to 73.1 million shares, or 9.1% of the company. The position momentarily made him the largest shareholder in the company.
Vanguard previously reported owning 67.2 million shares of Twitter or about 8.4% of the company as of the end of December, according to FactSet.
Vanguard declined to comment.
Mr. Musk along with former Twitter Chief Executive Jack Dorsey, who is number seven on the list, are the only individuals among the top 10 shareholders in the company.
The rest of the spots are occupied by financial institutions.
(Excerpt) Read more at wsj.com ...
I see you are among the 90% the media counts on not reading past the headline!
Remember Game Stop?
Yep, Vanguard has a “fiduciary duty” to its shareholders. If they stand on some kind of warped woke principle and forgo a nice profit who would let them manage their money?
Now sell the stock and say you heard a rumor that the board of Twitter might be all pedophiles.
Oh boy, Wall Street Greed vs Woke Socialism.... who in Vanguard will win? Time for Popcorn.......
Posted on 1/24/2021, 2:31:27 PM by Jim Robinson
Reminder: No profanity, no personal attacks, no violence.
You agreed to this when you signed up for posting privileges.
This means leave off the the cussing and swear words. No f-bombs. No c-words, no sh-words, etc. Not even masked. If in a headline or article you’re preparing to post, bleep it out.
Do not tale the Lord’s name in vain.
No - not the way I see it. Vanguard is deeper into indexed funds than most mutual funds companies. To maintain the indexes their computers buy and sell funds to maintain the correct weightings.
Index funds are more agnostic than a company with more actively invested funds.
Awww, lighten up, Francis.
“Awww, lighten up, Francis.”
Please direct your comments to the owner of those words ...
You seem to be having a twitchy day, so I said those words to the person I intended to read them...you. Bossy people bug me.
Deep state To The Rescue! They will be well rewarded in the next round of bailouts.
The Deep State returns fire.
” Bossy people bug me.”
I said nothing. If JR bugs you, take it up with him.
https://money.cnn.com/quote/quote.html?symb=DIS
Guess who’s number 1 on the institutional-holdings list...
“You seem to be having a twitchy day, so I said those words to the person I intended to read them...you. Bossy people bug me.”
You used profanity in a post to me! You should be the one apologizing.
“So these guys aren’t like Blackrock?”
Blackrock are owned by the usual collection of Wall Street people. Vanguard is a mutual company that is actually owned by the people who invest in Vanguard mutual funds.
Just wait and see how happy they end up being. This is only beginning...
How many individuals make up Vanguard, and do they all agree on everything all of the time?
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