Telecommunication services and broadband provider AT&T Inc. (NYSE: T) reported Q3 2020 earnings on October 22, 2020. The multinational company reported consolidated revenues of $42.34 billion, down about 5% compared to the same quarter in Q3 2019. AT&T has a market cap of $194.52 billion as of November 2, 2020.
Here are the four largest mutual funds invested in AT&T.
Vanguard Total Stock Market Index Fund (VTSMX)
The largest mutual fund holder, Vanguard Total Stock Market Index Fund (VTSMX), owns 203 million shares of AT&T, which accounts for 2.85% of the company as of November 2020. This mutual fund was created in 1992 and is designed to give broad exposure to the total US. stock market by including small-cap, mid-cap and large-cap growth and value stocks. VTSMX has $937.6 billion in assets under management (AUM) and invests 0.7% of its total assets in AT&T. It has a five-year annualized return of 11.37%, an expense ratio of 0.14%, and is closed to new investors.
Vanguard 500 Index Fund Investor Shares (VFINX)
As of November 2020, Vanguard 500 Index Fund (VFINX) is the second-largest mutual fund holder of AT&T with 148 million shares. This accounts for 2.08% of AT&T's total shares and makes up under 1% of VFINX's portfolio. This is the industry's first index fund for individual investors, covering a diversified spectrum of the largest US. companies mirroring the Standard and Poor's 500 index (S&P 500). VFINX has total net assets of $459.3 billion, with an expense ratio of 0.14% and a turnover ratio of 3.9%. The fund has a five-year annualized return of 11.56% and is closed to new investors.
SPDR S&P 500 ETF (SPY)
The SPDR S&P 500 ETF (SPY) is the first ever ETF introduced in the U.S. public market and remains one of the most popular to this day. As of November 2020, SPY is the third largest AT&T holder with 75 million shares. This accounts for about .71% of its total assets and 1.05% of AT&T. The fund has total assets of 277.59 billion and an expense ratio of 0.0945%.
Vanguard Institutional Index Fund Institutional Shares (VINIX)
The Vanguard Institutional Index Fund Institutional Shares (VINIX) is a $235.2 billion-institutional fund that tracks the S&P 500 Index. The fund follows a passively managed, full replication approach invested in 508 stocks. It is the fourth-largest mutual fund holder of AT&T stock with 69 million shares. The fund allocates roughly 1% of its total assets in AT&T, which accounts for 0.95% of total shares in the company as of October 2018. This is the institutional version of the Vanguard 500 Index Fund. As a result, this mutual fund is only available to institutional investors, with a minimum investment of $5 million.