Mark Zuckerberg just unloaded hundreds of millions of dollars worth of Meta Platforms (META) stock. And now other investors are gaining on the company's founder and CEO's ownership.
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Zuckerberg still owns more than 347 million shares of the social media giant — even after his flurry of sales in late December, says data from S&P Global Market Intelligence and MarketSmith. That means he still holds stock worth $120.5 billion, putting him in the No. 1 ownership spot with 13.5% of the company.
But his ownership is eroding.
Big Meta Investors Rise
Other Meta investors are gaining in influence, fast. ETF and mutual fund giant Vanguard is now the No. 2 largest owner of Meta with a 7.1% stake. Vanguard actually added more than 1.7 million shares as of the latest disclosure in September, taking its position to more than $63 billion.
Another mutual fund company, Fidelity, is also aggressively adding Meta shares. Fidelity's parent company added more than 4 million shares to its position as of the latest disclosure in September. Fidelity's holdings in Meta is now worth more than $43 billion, giving it a No. 4 position in the stock.
Who's the third-largest owner? Another ETF giant: BlackRock (BLK). It now owns 6.1% of the company with a stake valued at $54.1 billion. The iShares Core S&P 500 ETF (IVV) owns more than 22 million of Meta shares alone, says ETF.com.
It's important to note Facebook has a dual-class structure giving Zuckerberg magnified voting rights, despite his falling ownership of the company.
A Rally Changes The S&P 500 Ranks
A stellar year for Meta in 2023 presented a great opportunity for anyone looking to sell. Apparently, Zuckerberg was one of them.
Shares of Meta jumped 194% in 2023, making them the second-best performer among the S&P 500, just behind Nvidia (NVDA). Meta was also among the so-called Magnificent Seven stocks that drove a bulk of the S&P 500's impressive gains in 2023.
But analysts are slightly less bullish on Meta stock's domination in 2024. It's not one of the seven S&P 500 stocks analysts think will generate a big chunk of the index's gains in 2024.
And it looks like it just might be the cue for some smart investors, like Zuckerberg, to move toward the exit.
Top Owners Of Meta Platforms
Some are narrowing the gap with founder Mark Zuckerberg
| Holder | Common stock held (millions) | % of stock | Market value (in $ bil.) |
|---|---|---|---|
| Zuckerberg, Mark | 347.1 | 13.5% | $120.5 |
| Vanguard Group | 183.2 | 7.1 | 63.6 |
| BlackRock | 156.0 | 6.1 | 54.1 |
| FMR | 125.1 | 4.9 | 43.4 |
| Capital Research and Management | 97.6 | 3.8 | 33.9 |
| State Street Global Advisors | 86.1 | 3.3 | 29.9 |
| T. Rowe Price Group | 50.6 | 2.0 | 17.6 |
| Geode Capital Management | 45.2 | 1.8 | 15.7 |
| JP Morgan Asset Management | 36.4 | 1.4 | 12.7 |
| Norges Bank Investment Management | 34.7 | 1.3 | 12.0 |
Sources: S&P Global Market Intelligence, IBD.
Follow Matt Krantz on X (Twitter) @mattkrantz
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