Biden Saves Depositors, Leaves Hedge Funds Out To Dry: Which Funds Lost The Most On SVB And Others?
The Federal Reserve and the Biden Administration on Sunday took decisive action to safeguard the country's banking system by providing additional funding to eligible depository institutions to help them meet the needs of all their depositors, amid the shutter of multiple regional banks.
Depositors are safe — the shareholders are not.
President Joe Biden addressed the nation Monday saying, “Investors in the banks will not be protected… they knowingly took a risk, and when the risk doesn’t pay off, investors lose their money — that’s how capitalism works,” Biden said.
Read also: Regional Bank Stocks Getting Crushed Monday: Here Are 19 Stocks Down 10% Or More
So, which hedge funds took the risk on SVB Financial Group (NASDAQ: SIVB)?
|
Fund |
Shares held |
then-Market Value |
% of Portfolio |
|
Vanguard Group |
6,657,712 |
$1,532,205,840 |
0.04 |
|
BlackRock Inc |
4,764,351 |
$1,096,467,737 |
0.03 |
|
State Street Corp |
3,082,695 |
$709,451,427 |
0.04 |
|
JP Morgan Chase |
2,513,307 |
$578,413,000 |
0.08 |
|
Invesco Ltd |
1,724,702 |
$396,922,919 |
0.12 |
|
Artisan Partners Ltd |
1,624,103 |
$373,771,064 |
0.66 |
|
Morgan Stanley |
1,540,231 |
$354,469,138 |
0.04 |
|
Franklin Resources |
1,500,073 |
$345,226,816 |
0.18 |
|
Geode Capital |
1,251,764 |
$287,583,000 |
0.04 |
|
Harding Loevner |
1,186,039 |
$272,986,487 |
1.57 |
What about Signature Bank (NASDAQ: SBNY)?
|
Fund |
Shares held |
then-Market Value |
% of Portfolio |
|
Vanguard Group |
7,291,217 |
$840,094,023 |
0.02 |
|
Capital International |
4,869,007 |
$561,006,987 |
0.15 |
|
BlackRock Inc |
4,697,988 |
$541,302,146 |
0.02 |
|
State Street Corp |
3,140,523 |
$361,851,060 |
0.02 |
|
Price T Rowe |
3,124,528 |
$360,008,000 |
0.06 |
|
FMR LLC |
2,578,770 |
$297,125,925 |
0.03 |
|
Invesco Ltd |
1,585,448 |
$182,675,319 |
0.05 |
|
Geode Capital |
1,369,231 |
$157,496,000 |
0.02 |
|
Parnassus Investments |
1,309,587 |
$150,890,614 |
0.37 |
|
Davis Capital |
800,000 |
$143,368,000 |
8.16 |
And, what about other regional bank stocks like First Republic Bank (NYSE: FRC)?
|
Fund |
Shares held |
then-Market Value |
% of Portfolio |
|
Vanguard Group |
20,563,135 |
$2,506,440,526 |
0.07 |
|
BlackRock Inc |
13,159,705 |
$1,604,036,470 |
0.05 |
|
Capital International |
10,242,801 |
$1,248,503,901 |
0.34 |
|
State Street Corp |
9,633,315 |
$1,174,204,765 |
0.07 |
|
Royal Bank of Canada |
5,534,897 |
$674,647,000 |
0.19 |
|
Select Equity Group |
5,004,541 |
$610,003,502 |
2.27 |
|
Geode Capital |
3,698,842 |
$450,023,000 |
0.06 |
|
Harding Loevner |
3,285,248 |
$400,460,496 |
2.31 |
|
Capital Research |
2,836,196 |
$345,713,459 |
0.10 |
|
Baillie Gifford |
2,728,854 |
$332,620,014 |
0.33 |
And, Western Alliance Bancorporation (NYSE: WAL)?
|
Fund |
Shares held |
then-Market Value |
% of Portfolio |
|
Vanguard Group |
10,092,749 |
$601,124,131 |
0.02 |
|
Capital International |
6,617,466 |
$394,136,275 |
0.11 |
|
Price T Rowe |
6,360,932 |
$378,857,000 |
0.06 |
|
BlackRock Inc |
4,732,730 |
$281,881,409 |
0.01 |
|
Clearbridge Investments |
3,183,508 |
$189,609,710 |
0.19 |
|
Thrivent Financial |
2,833,374 |
$168,756,000 |
0.44 |
|
State Street Corp |
2,809,622 |
$167,341,086 |
0.01 |
|
Davis Capital Partners |
2,325,000 |
$164,145,000 |
9.34 |
|
William Blair Investments |
2,585,967 |
$154,020,195 |
0.59 |
|
Goldman Sachs |
2,571,652 |
$153,167,593 |
0.03 |
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