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. The following are the top four largest mutual fund holders of Bank of America.
Vanguard Total Stock Mkt Idx Inv (VTSMX)
The largest mutual fund holder, the Vanguard Total Stock Mkt Idx Inv (VTSMX), owns 240 million shares or 2.36% of Bank of America, as of March 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. The fund has $672 billion under management, with a 17.04% allocation to the financial services sector as of March 31, 2018. Its Bank of America holding is just 1.14% of its total portfolio.
Vanguard 500 Index Inv (VFINX)
The Vanguard 500 Index Inv (VFINX) is the second-largest mutual fund holder of Bank of America with 169.5 million shares or 1.66% in the company, as of March 31, 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). The total net assets are $400.6 billion with a 16.98% allocation in the financial services sector as of March 31, 2018. Bank of America accounts for 1.27% of the fund’s portfolio weight.
SPDR S&P 500 ETF (SPY)
This $253.2 billion value fund owns the third-largest stake in Bank of America with 107 million shares or 1.05% in the company, as of April 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. The fund is invested in 505 positions with a 16.83% allocation in financial services. Bank of America shares represent 1.25% of its portfolio as of April 13, 2018.
Vanguard Institutional Index I (VINIX)
This $220.3 billion institutional fund tracks the S&P 500 Index following a passively managed, full-replication approach. The Vanguard Institutional Index I (VINIX) is the fourth-largest mutual fund holder of Bank of America with 93 million shares or 0.92% in the company, as of March 31, 2018. The fund has 16.98% allocation in the financial services sector with BAC comprising of 1.27% of its total portfolio as of April 13, 2018. This is the institutional version of the Vanguard 500 Index Fund, which requires a minimum investment of $5 million.