Top Mutual Fund Holders of Bank of America

Bank of America Corporation (NYSE: BAC) is the second largest bank in the U.S. with $2.28 trillion in total assets as of end of 2017. As of July 16, 2018, Bank of America has a market capitalization of nearly $289.48 billion. The following are the top four largest mutual fund holders of Bank of America.

According to Bank of America’s July 16, 2018 earnings, the total revenue, net of interest expense, over the last three months totaled $22.6 billion. In Q2 of 2017, the company reported $22.8 billion.

Vanguard Total Stock Mkt Idx Inv (VTSMX)

The largest mutual fund holder, the Vanguard Total Stock Mkt Idx Inv (VTSMX), owns 242.6 million shares or 2.39% of Bank of America, as of May 31, 2018. This mutual fund was created in 1992 and intends to give broad exposure to the total US. stock market by including small, mid, and large-cap growth and value stocks. 

As of July 2018, VTSMX has $701.2 billion in assets under management (AUM). Bank of America accounts for 1.00% of the fund’s total assets. It has an expense ratio of 0.14%, a five-year annualized return of 12.74%, and requires a minimum investment of $3,000.

Vanguard 500 Index Inv (VFINX)

The Vanguard 500 Index Inv (VFINX) is the second-largest mutual fund holder of Bank of America with close to 170.6 million shares or 1.69% in the company, as of June 30, 2018. VFINX was the industry’s first index fund for individual investors and is invested in a diversified spectrum of the largest US. companies mirroring the Standard and Poor’s 500 Index (S&P 500).

As of July, VFINX has $417.7 billion in AUM. Bank of America accounts for 1.20% of the funds total assets. VFINX has an expense ratio of 0.14%, a five-year annualized return of 12.90%, and requires a minimum investment of $3,000.


This $267.3 billion value fund owns the third-largest stake in Bank of America with 105.5 million shares or 1.05% in the company, as of July 13, 2018. The fund offers exposure to large cap U.S. stocks with the objective of generating returns that correspond generally to the price and yield performance of the S&P 500.

As of June 30, 2018, SPY reported a five-year annualized return 13.28% and as of July 2018, Bank of America shares represent 1.20% of its portfolio.  

Vanguard Institutional Index I (VINIX)

This institutional fund tracks the S&P 500 Index following a passively managed, full-replication approach. It has $223.5 billion in total assets as of July 2018. The Vanguard Institutional Index I (VINIX) is the fourth-largest mutual fund holder of Bank of America with 91.1 million shares or 0.92% in the company, as of June 30, 2018. This is the institutional version of the Vanguard 500 Index Fund, which requires a minimum investment of $5 million. 

Bank of America accounts for 01.20% of the fund’s total assets. VINIX has an expense of 0.04% and had a five-year annualized return of 13.03%. 

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