Verizon released its Q3 2020 earnings on Oct. 21, 2020. The company reported a total consolidated revenue decline of 3.6% year over year. Verizon Wireless saw a total revenue decline of 18.9% year over year, while service revenues declined 0.8%.
Verizon Communications, Inc.'s (VZ) largest fund holders are, to no surprise, index funds.
|The 4 largest mutual fund holders of Verizon Communications (Reported as of Q1 2021)|
|Holder||Shares||% Out||$ Value|
|Vanguard Total Stock Market Index Fund||116,626,489||2.82%||6,851,806,228|
|Vanguard 500 Index Fund||82,917,988||2.00%||4,871,431,795|
|SPDR S&P 500 ETF Trust||42,930,470||1.04%||2,496,406,830|
|Fidelity 500 Index Fund||37,473,881||0.91%||2,072,305,619|
1. The Vanguard Total Stock Market Index Fund (VTSAX)
The largest mutual fund holder, the Vanguard Total Stock Market Fund (VTSAX), owns 116.6 million shares of Verizon, or 2.82% of the company, as of Q1, 2021. VTSAX 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.
Verizon shares represent 0.56% of the Vanguard Total Stock Market's $240.5 billion portfolio. The fund has a 0.04% expense ratio and requires a minimum investment of $3,000.
2. The Vanguard 500 Index Fund (VFIAX)
The Vanguard 500 Index Fund (VFIAX) is the second-largest mutual fund holder and owns 82.9 million shares of Verizon, or 2% of the company as of the first quarter of 2021. VFIAX was 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 U.S. companies, mirroring the S&P 500.
Verizon shares represent less than 1% of Vanguard 500's $220.4 billion portfolio. The fund has a 0.04% expense ratio and requires a minimum investment of $3,000.
3. The SPDR S&P 500 ETF (SPY)
The SPDR S&P 500 ETF (SPY) is Verizon's third-largest mutual fund holder with 42.9 million shares, or 1.04% of the company as of Q1 2021. 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. This mutual fund mirrors the total return of the S&P 500, which tracks 500 of the largest companies in the US as according to the Standard and Poor's index.
Verizon shares represent 0.66% of SPDR S&P 500's $360 billion portfolio.
4. The Fidelity 500 Index (FXAIX)
The Fidelity 500 Index Index Fund (FXAIX) is one of the lowest-cost ways to access diversified exposure to the broader U.S. stock market. The fund is made up of the 500 largest American companies, which make up about 75% of the total U.S. equity market.
As of Q1 2021, the fund holds 37.5 million shares of Verizon, or roughly 0.90% of the company. This accounts for 0.87% of the fund's portfolio. FXAIX has total assets of $308 billion and an expense ratio of just 0.015%.
Morningstar. "Vanguard Total Stock Mkt Idx Adv VTSAX."
Morningstar. "VFIAX." Access April 28, 2021.
ETF.com. "SPY SPDR S&P 500 ETF Trust."