On July 24, 2018, Verizon released second quarter earnings. The company reported a total consolidated revenue growth of 5.4% year over year (2.6% on an adjusted basis). Verizon Wireless saw a total revenue growth of 4.7% year over year, and Wireline reached 43,000 Fios Internet net adds, helping total Fios revenue growth reach 2.3% year over year.
Verizon Communications, Inc.’s (VZ) largest fund holders are, to no surprise, index funds. Here are the three largest mutual fund holders of Verizon Communications, as of June 2018.
Vanguard Total Stock Mkt Idx Inv (VTSMX)
The largest mutual fund holder, Vanguard Total Stock Mkt Idx Inv (VTSMX), owns 103.4 million shares of Verizon, or 2.5% of the company, as of June 30, 2018. This mutual fund was created in 1992 and is designed to give broad exposure to the total U.S. stock market by including small-, mid- and large-cap growth and value stocks. The fund has $701.2 billion in net assets. Verizon shares represent 0.74% of the fund’s total assets.
Vanguard 500 Index Inv (VFINX)
Vanguard 500 Index Inv (VFINX) is the second-largest mutual fund holder of Verizon Communications with 74.7 million shares, or 1.81% of the company, as of June 30, 2018. The fund is the industry’s first index fund for individual investors. Over 98% of its assets are invested in U.S. stocks covering a diversified spectrum of the largest US. companies, mirroring the Standard and Poor’s 500 index (S&P 500). Vanguard 500’s total net assets are $417.7 billion.
SPDR S&P 500 ETF (SPY)
The first and most popular ETF in America, SPY is one of the most heavily traded ETFs on the AMEX, selling as high as over 400 million shares in a day. As of June 2018, the fund owns 46 million shares of Verizon, or 1.12% of the company. The third-largest mutual fund holder in Verizon Communications, the SPY ETF duplicates the total return of the S&P 500, which tracks 500 of the largest companies in the US as according to Standard and Poor’s. The fund has assets of $265.9 billion.
Vanguard Wellington Fund Investor Shares (VWELX)
The Vanguard Wellington Fund is the fourth-largest mutual fund holder of Verizon, with 40.89 million shares held, or 0.99% of the company, as of March 2018. The fund has net assets of over $103.2 billion, as of March 31, 2018. The Vanguard Wellington Fund is the oldest Vanguard mutual fund, and the fund’s Verizon holding makes up 1.9% of the fund.
Vanguard Institutional Index I (VINIX)
Another mutual fund tracking the S&P 500, the Vanguard Institutional Index I is the fifth-largest mutual fund holder of Verizon, with 39.9 million shares held, or 0.97% of the company, as of June 20, 2018. The fund has net assets of over $220 billion, as of April 2018. Created in 1990 by Vanguard, VINIX is known for it’s inexpensive share classes. Used by many through retirement plans, The fund has holdings in a huge variety of companies for a cheap fee.
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