Fintel dashboards show the world’s biggest asset managers who poured into lenders
Mega-manager Vanguard Funds bought sizable stakes in both Silicon Valley Bank (NASDAQ:SIVB) and Signature Bank (NASDAQ:SBNY) in recent months, according to data compiled by Fintel.
Both banks have been closed by state regulators since Friday and taken over by the Federal Deposit Insurance Corp. (FDIC).
Q4 2022 hedge fund letters, conferences and more
Find A Qualified Financial Advisor
Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now.
As seen on Fintel’s Institutional Ownership and Shareholders dashboard, which tracks holdings based on money managers’ 13D/G or 13F forms filed with the Securities and Exchange Commission, more than 25 funds managed by The Vanguard Group bought a total of 13.19 million shares of SVB.
The biggest buys in SIVB were new positions made by two funds, Vanguard Total Stock Market Index Fund Investor Shares (MUTF:VTSMX), with 1,796,212 shares at an average share price paid of $271.24 and Vanguard Mid-Cap Index Fund Investor Shares (MUTF:VIMSX), with 1,374,357 shares at an average share price of $264.03, according to data effective on Dec. 31, 2022.
VTSMX also took a new position in New York’s Signature Bank, buying 1,916,130 shares at an average share price paid of $143.68. Sister fund, Vanguard Small-Cap Index Fund Investor Shares (MUTF:NAESX) accumulated 1,136,00 shares at an average price of $161.99 per share.
Some 1,200 SBNY institutional owners and shareholders filed Forms 13D/G or 13F at year-end 2022, with total holdings of more than 74 million shares. As for Santa Clara, CA-based Silicon Valley Bank, it had 1,445 long-only institutional owners, holding 68.53 million shares.
With more than $8 trillion in global assets under management, Malvern, PA-based Vanguard is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's (NYSE:BLK) iShares. Various iShares funds also took new positions in both now-failed banks in recent months, according to Fintel’s dashboards.
Article by Robert Lakin, Fintel
