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

Snap IncSNAP

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.

Hedge Funds

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. Related Links: Snap Goes Splat: Sell-Side Reacts To Company's First Earnings Report BlackRock's Fink: Robots Will Supplement Humans In Stock Picking

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.

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