Are Bank of America’s Top Institutional Shareholders Concerned About This Potential Payout?

Bank of America (NYSE:BAC): Shareholders of the nation’s largest bank had better familiarize themselves with Article 77, according to Mark Palmer, who says it’s possible that the $8.5 billion that the bank has put aside to handle claims against Countrywide MBS will be tremendously inadequate. An Article 77 proceeding set to begin May 30 could see the $8.5 billion settlement be thrown out, which could in turn see the sum grow to $60.5 billion, or about 24 percent of the bank’s book worth.

These institutional firms indicated owning shares of Bank of America Corporation in Q1 2013. They reported owning a total of 2.904 billion shares on 03/31/2013. The shares closed at $12.18 on 03/31/2013.

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Here are the ten largest positions in Bank of America Corporation at the end of March 31st, 2013.

Vanguard Group Inc. held 479,318,548 shares on 03/31/2013 worth $5,838,100,061. This brought the portfolio total to 0.64%.

State Street Corp. held 455,904,347 shares on 03/31/2013 worth $5,552,915,086. This brought the portfolio total to 0.74%.

Blackrock Institutional Trust Company N.A. held 289,040,859 shares on 03/31/2013 worth $3,520,517,751. This brought the portfolio total to 0.72%.

Citigroup Inc. held 177,288,479 shares on 03/31/2013 worth $2,159,373,728. This brought the portfolio total to 2.3%.

JPMorgan Chase & Co. held 160,566,107 shares on 03/31/2013 worth $1,955,695,232. This brought the portfolio total to 0.63%.

Bank of New York Mellon Corp. held 144,154,448 shares on 03/31/2013 worth $1,755,801,221. This brought the portfolio total to 0.56%.

Wells Fargo & Company held 96,860,484 shares on 03/31/2013 worth $1,179,760,725. This brought the portfolio total to 0.61%.

Blackrock Fund Advisors held 90,998,332 shares on 03/31/2013 worth $1,108,359,712. This brought the portfolio total to 0.43%.

Blackrock Group Ltd held 78,146,310 shares on 03/31/2013 worth $951,822,080. This brought the portfolio total to 0.7%.

Korea Investment Corp. held 73,090,645 shares on 03/31/2013 worth $890,244,078. This brought the portfolio total to 11.7%.

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