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Top Mutual Fund Holders of AT&T

On July 24, 2018, telecommunication services and broadband provider AT&T Inc. (NYSE: T) reported Q2 earnings with consolidated revenues of $39.0 billion, down 2% compared to the same quarter in 2017. AT&T currently has a market cap of $232.84 billion. 

The following are the top four largest mutual funds holding shares of AT&T.

Vanguard Total Stock Market Index Fund (VTSMX)

The largest mutual fund holder, Vanguard Total Stock Market Index Fund (“VTSMX”), owns 181 million shares of AT&T which accounts for 2.48% of total shares held as of June 29, 2018. 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.

As of July 2018, VTSMX has 701.2 billion in assets under management (AUM) and invests 0.83% of its total assets in AT&T. It has a five-year annualized return of 12.60%, an expense ratio of 0.14%, and the minimum investment is $3,000.

Vanguard 500 Index Fund Investor Shares (VFINX)

As of June 29, 2018, Vanguard 500 Index Fund (“VFINX”) is the second-largest mutual fund holder of AT&T with 131 million shares. This accounts for 1.79% of AT&T’s total shares and makes up 1.01% 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).

As of July 2018, VFINX has total net assets of $417.7 billion, with an expense ratio of 0.14% and a turnover ratio of 3%. The fund has a five-year annualized return of 12.76% and requires a minimum investment of $3,000.


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 July 18, 2018, SPY is the third largest AT&T holder with 80 million shares. This accounts for 0.95% of its total assets and 1.07% of total shares held in AT&T.  As of July, 2018, the fund has total assets of 265.9 billion and an expense ratio of 0.09%. Finally, as of June 30, 2018, SPY has a five-year annualized return of 13.31%.

Vanguard Institutional Index Fund Institutional Shares (VINIX)

As of July 2018, the Vanguard Institutional Index Fund Institutional Shares (“VINIX”) is a $223.5 billion institutional fund that tracks the S&P 500 Index. The fund follows a passively managed, full replication approach invested in 507 stocks. It is the fourth-largest mutual fund holder of AT&T stock with 70 million shares. The fund has a 1.01% allocation of its total assets in AT&T which accounts for 0.96% of total shares in the company as of June 29, 2018. This is the institutional version of the Vanguard 500 Index Fund, and as such is available only to institutional investors. The minimum investment is $5,000,000.

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