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Revealed: Snap's Biggest Investors At The End Of Q1

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Revealed: Snap's Biggest Investors At The End Of Q1
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Snap Inc (NYSE: SNAP)'s biggest and most notable shareholders were kept a secret, but recent regulatory filings now shed light on which money manager(s) and hedge funds own a piece of the social media company.

According to a Reuters report, Snap's 13F filings with the U.S. Securities and Exchange Commission shows Fidelity, the multi-trillion dollar operator of many mutual funds and other financial products, is the biggest shareholder and owns 33.4 million shares.

The second biggest shareholder is BlackRock, the world's largest asset manager, with a 9.4 million share stake. The stake is drawing some question marks among observers who note BlackRock's very vocal stance on corporate governance issues may conflict with Snap's stock structure, which offers shareholders less of a voice and reduced voting rights.

A spokesperson with BlackRock did tell Reuters that, as a policy, it doesn't comment on individual stocks it invests in.

Other notable funds that invested in Snap include Vanguard with a 6.7 million share stake.

Hedge Funds

Dan Loeb's Third Point held 2.25 million shares of Snap as of the end of the quarter.

OZ Management held 1 million shares, while David Tepper's Appaloosa Management held a mere 100,000 share position as of the end of the quarter, but the fund manager confirmed he trimmed position as the stock ran up following its offering. But Tepper also said he would be interested in re-buying shares at a lower price.

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Posted-In: 13F Blackrock VanguardEarnings News Hedge Funds Tech Media General Best of Benzinga

 

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