Tesla’s largest institutional shareholders have continued to increase their positions in the company in the last quarter, reaching record levels.
It is the case of Vanguard, Tesla‘s biggest institutional investor, and Geode Capital Management, currently the fourth-largest.
Both firms have first entered the company in the second quarter of 2013, three years after the company’s IPO.
Since then, Vanguard’s stake has grown more than twentyfold, and Geode’s holdings have increased over 210 times, boosted not only by large additional investments but also by two stock splits.
Tesla has undergone a 5-for-1 split in August 2020 and a 3-for-1 split in August 2022.
As of Friday, not all institutions have yet submitted their latest quarterly filings to the SEC.
State Street Corp, which was Tesla‘s third-largest institutional holder in the second quarter, reported owning 113 million shares at that time.
Vanguard
Vanguard held over 252 million shares in Tesla by the end of the third quarter, a stake that was raised by 995,623 shares during that period — representing a 0.4% increase in the total holdings.
It marks the 25th consecutive quarter in which the asset manager, one of the largest in the world, has raised its position in the company.
The position was worth $112 billion as of the end of the quarter.
Since September 30, Tesla‘s share price has dropped by nearly 10%, considering Thursday’s close at $401.99, which led the stake’s value to decrease to $101 billion.
Vanguard first entered a position in the firm with 3.5 million shares, worth $384 million at the time.
In the third quarter of 2020, Tesla‘s 5-for-1 stock split boosted its 8 million shares to a value of over $43 million.
Two years later, the position had grown to 68 million shares, which for the first time surpassed $200 million in value.
Vanguard is a top investor in several US companies in the auto industry, including Lucid Motors (placing only below Saudi Arabia’s Public Investment Fund) and Rivian (under Amazon and Volkswagen Group).
By the end of the third quarter, the firm held a portfolio of more than 4,300 companies, with total assets valued at nearly $6.7 trillion.
Geode Capital
Between July and September, Geode purchased 557,036 shares in Tesla, which added to a 65.3 million-share stake, worth $28.9 billion.
From September 30 to November 13, the holdings lost over $2 billion of its value as the stock declined.
The Massachusetts-based firm has been consecutively increasing its stake quarter over quarter for 21 quarters, since mid-2020.
It entered Tesla with a 303,852-share position twelve years ago. It was worth $32 million then.
Since then, the only time it cut its stake in the company was in the second quarter of 2020, just two months before the first stock split.
Tesla Institutional Ownership
Tesla‘s institutionally held shares have jumped in the third quarter of 2022, following the 3-for-1 stock split.
Since then, they have fluctuated around the same value of 1.6 billion shares.
As of Friday, Nasdaq showed that 4,150 institutions collectively held 1.6 billion Tesla shares.
BlackRock, which has been increasing its stake in Tesla for 25 consecutive quarters, ranks second.
The world’s largest asset manager, which has nearly $13.5 trillion under management, has successively increased its position in the Elon Musk-led company since the second quarter of 2019.
Over the last six years, BlackRock’s holdings in Tesla have increased by 200 million shares.
