Top 4 Mutual Fund Holders of Goldman Sachs (GS)

NEW YORK - APRIL 22: Financial professionals in the Goldman Sachs booth on the floor of the New York Stock Exchange at midday watch President Obama give a speech about Wall Street financial reform April 22, 2010 in New York, New York. President Obama scolded Wall Street for the financial crisis during his speech, and suggested a path toward regulations to help prevent fiscal crises in the future. (Photo by Chris Hondros/Getty Images)

The Goldman Sachs Group Inc. (NYSE: GS) had full-year 2017 revenues of $32 billion and pre-tax earnings of $11.13 billion. The company ended the year with $1.49 trillion in assets under management (AUM) with net inflows of $42 billion. As of July 16, 2018 the company has a market cap of $86.4 billion.  

The company announced in March 2018 that co-president and COO Harvey Schwartz would retire in April. This revelation put fellow co-president David Solomon on the path of becoming the next CEO of the financial powerhouse. Solomon will eventually succeed Lloyd Blankfein, who reportedly may step down by December 2018. 

On July 15, 2018, the New York Times reported that Goldman Sachs is expected to name David Solomon as its next CEO early that same week.

Here are the mutual funds with the largest ownership of Goldman Sachs shares.

Vanguard Total Stock Market Index Fund (“VTSMX”)

The Vanguard Total Stock Market Index Fund (VTSMX) is the mutual fund that holds the largest amount of Goldman Sachs stock, at 8.49 million shares or 2.25% of the company, as of June 30, 2018. The fund was created in 1992 and gives broad exposure to the total US. stock market by including small-, mid- and large-cap growth and value stocks. As of May 31, 2018, the fund has $698.7 billion in net assets invested in 3,628 stocks. Goldman Sachs shares represents 0.29% of the fund’s total assets. The fund is up 6.39% year-to-date (YTD) as of July 13, 2018. The three-year average annual return is 11.46%, as of June 30, 2018. The minimum required investment is $3,000.

Dodge and Cox Stock Fund  (“DODGX”) 

The Dodge and Cox Stock Fund (DODGX) has $70.5 billion in assets and is the second-largest mutual fund holder of Goldman Sachs. As of March 31, 2018, the fund owns close to 6.59 million shares, amounting to a 1.74% stake in the company. Goldman Sachs represents 2.4% of its overall portfolio. The fund invests in undervalued stocks for long-term growth and income. It is invested in 65 companies, with a 26.3% allocation in the financial services sector. It had a 18.33% annual return for 2017. The fund has an annualized three-year return of 10.93%. The minimum investment is $2,500, or $1,000 for an IRA initial investment.

Vanguard 500 Index Fund Investor Shares (“VFINX”)

The Vanguard 500 Index Fund (VFINX) is the third-largest mutual fund holder of Goldman Sachs, with 6.35 million shares or 1.68% of the company as of June 30, 2018. The fund was the industry’s first index fund for individual investors and is invested in 507 stocks, covering a diversified spectrum of the largest US. companies to mirror the Standard & Poor’s (S&P) 500 Index. The fund’s total net assets are $414.7 billion, with a 14.2% allocation in the financial services sector. Goldman Sachs shares represents 0.33% of the fund’s total assets. It has generated 5.78% return YTD as of July 13, 2018 while its 3 year average annual return (before taxes) stands at 11.78%. The minimum required investment is $3,000.

SPDR Dow Jones Industrial Average ETF (“DIA”)

The SPDR Dow Jones Industrial Average ETF (DIA) is a passively managed fund that mirrors investments in the 30 stocks that comprise the underlying index. This fund, with $21.15 billion in assets under management, holds 5.72 million shares or 1.56% of Goldman Sachs. The company amounts to 6.12% of its assets. Financials are a big part of its investments with the sector receiving 15.17% weight in its portfolio. As of June 30, 2018 this fund has delivered a YTD return of  -0.82% while its performance for 2017 stood at 27.97%.


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