Is the Worst Behind Best Buy’s Biggest Investors?

For the year-to-date, Best Buy Co. Inc. (NYSE:BBY) is down 19.73 percent. On Tuesday, the company reported its first quarter earnings. Its net income fell to $262 million (47 cents per share) vs. $460 million (35 cents per share) from the previous year. This is a decline of 43% from the year-earlier quarter. Best Buy’s revenue rose 2.1% to $11.61 billion from the year-earlier quarter, beating estimates.

A Closer Look: Best Buy Earnings Cheat Sheet>>

Looking ahead, expectations for the company’s next-quarter results came in lower than they have been.

With the concerns over Best Buy’s (NYSE:BBY) upcoming quarter but a positive view toward restructuring plans and its first quarter numbers passing expectations, are the company’s largest shareholders changing their positions after the latest earnings report? 580 institutional firms indicated owning shares of Best Buy Co. Inc. (NYSE:BBY) in Q1 2012. These firms reported owning a total of 264.423 million shares on 03/31/2012 . The shares closed at $23.51 on 03/31/2012.

Here are the ten largest positions in Best Buy Co. Inc. at the end of March 31st, 2012.

Fmr LLC held 34,898,751 shares on 03/31/2012 worth $826,402,434. This brought the portfolio total to 0.15%.

Tradewinds Global Investors LLC held 14,858,807 shares on 03/31/2012 worth $351,856,554. This brought the portfolio total to 2.31%.

Vanguard Group Inc held 11,835,534 shares on 03/31/2012 worth $280,265,449. This brought the portfolio total to 0.04%.

State Street Corp held 11,210,045 shares on 03/31/2012 worth $265,453,869. This brought the portfolio total to 0.04%.

Putnam Investment Management LLC held 10,226,990 shares on 03/31/2012 worth $242,175,126. This brought the portfolio total to 0.62%.

Greenlight capital Inc held 7,714,375 shares on 03/31/2012 worth $182,676,402. This brought the portfolio total to 3.3%.

Blackrock Institutional Trust Company N.A. held 7,286,158 shares on 03/31/2012 worth $172,536,224. This brought the portfolio total to 0.04%.

Thornburg Investment Management Inc held 7,190,149 shares on 03/31/2012 worth $170,262,731. This brought the portfolio total to 0.77%.

Invesco Ltd. held 5,959,105 shares on 03/31/2012 worth $141,111,608. This brought the portfolio total to 0.07%.

Bank of New York Mellon Corp held 5,557,287 shares on 03/31/2012 worth $131,596,558. This brought the portfolio total to 0.05%.

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