Are Facebook’s Top Institutional Shareholders Concerned About This?

Since Facebook’s (NASDAQ:FB) IPO, shares are down 41.88 percent. Last week, the California Legislative Analyst’s Office said it could incur losses of hundreds of millions in state tax revenue if Facebook’s stock continues to decline. The state budgeted $1.9 billion in revenues from the social media giant based on a $35 per share stock price; Facebook shares are currently trading at $21.57.

The rating agency Moody’s Corporation (NYSE:MCO) said the situation is less grim that it sounds and noted via the Wall Street Journal, “A loss of hundreds of millions in revenue would equal less than 1% of the state’s $91 billion budget. Given that California has faced mid-year budget gaps of tens of billions of dollars in recent years, we expect a gap of this size opening in the middle of the year to be manageable.”

With the potential loss of state tax revenue for California, will Facebook’s largest shareholders cut their holdings? 121 institutional firms indicated owning shares of Facebook, Inc. (NASDAQ:FB) in Q2 2012. These firms reported owning a total of 47.89 million shares on 06/30/2012. The shares closed at $31.10 on 06/30/2012.

Here are the ten largest positions in Facebook, Inc. at the end of June 30th, 2012.

Baillie Gifford & Co held 19,380,440 shares on 06/30/2012 worth $602,731,691. This brought the portfolio total to 2.24%.

UBS Global Asset Management Americas Inc held 11,869,816 shares on 06/30/2012 worth $369,151,282. This brought the portfolio total to 0.43%.

Wellcome trust ltd (the) as Trustee of the Wellcome Trust held 2,000,000 shares on 06/30/2012 worth $62,200,001. This brought the portfolio total to 2.72%.

Bank of New York Mellon Corp held 1,798,423 shares on 06/30/2012 worth $55,930,956. This brought the portfolio total to 0.02%.

Bristol John W & Co Inc /NY/ held 1,653,219 shares on 06/30/2012 worth $51,415,112. This brought the portfolio total to 0.98%.

Mitsubishi UFJ Trust & Banking Corp held 1,530,641 shares on 06/30/2012 worth $47,602,936. This brought the portfolio total to 0.14%.

Commerzbank Aktiengesellschaft /FI held 1,077,130 shares on 06/30/2012 worth $33,498,743. This brought the portfolio total to 0.34%.

Technology Crossover Management VII Ltd. held 807,329 shares on 06/30/2012 worth $25,107,932. This brought the portfolio total to 2.39%.

California State Teachers Retirement System held 752,777 shares on 06/30/2012 worth $23,411,365. This brought the portfolio total to 0.09%.

State Board of Administration of Florida Retirement System held 745,830 shares on 06/30/2012 worth $23,195,313. This brought the portfolio total to 0.09%.

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