Will These Budget Runs Worry BP’s Top Institutional Shareholders?

British Petroleum (NYSE:BP): In appears that the company has run about $4 billion over budget with its operations in Angola, following delays of over a year. The project, which is located 100 miles offshore, was anticipated to begin producing oil in late 2011 and cost $10 billion. Analysts pegged the total costs at about $12 billion, but a BP executive has now said it’s looking at “over 14 billion” once the wells are drilled and hooked up.

These institutional firms indicated owning shares of BP plc in Q1 2013. They reported owning a total of 129.72 million shares on 03/31/2013. The shares closed at $42.35 on 03/31/2013.

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Here are the ten largest positions in BP plc at the end of March 31st, 2013.

State Street Corp. held 37,669,327 shares on 03/31/2013 worth $1,595,295,941. This brought the portfolio total to 0.21%.

Franklin Resources Inc. held 26,737,371 shares on 03/31/2013 worth $1,132,327,621. This brought the portfolio total to 0.65%.

Morgan Stanley held 11,725,534 shares on 03/31/2013 worth $496,576,347. This brought the portfolio total to 0.26%.

BMO Financial Corp. held 6,286,976 shares on 03/31/2013 worth $266,253,424. This brought the portfolio total to 0.47%.

Acadian Asset Management LLC held 3,917,101 shares on 03/31/2013 worth $165,889,221. This brought the portfolio total to 1.12%.

Mackenzie Financial Corp. held 3,278,920 shares on 03/31/2013 worth $138,862,257. This brought the portfolio total to 0.61%.

Wells Fargo & Company held 2,791,518 shares on 03/31/2013 worth $118,220,783. This brought the portfolio total to 0.06%.

Pacific Heights Asset Management LLC held 2,500,000 shares on 03/31/2013 worth $105,874,996. This brought the portfolio total to 1.97%.

Federated Investors Inc. held 2,448,049 shares on 03/31/2013 worth $103,674,871. This brought the portfolio total to 0.42%.

Blackrock Advisors LLC held 2,120,723 shares on 03/31/2013 worth $89,812,616. This brought the portfolio total to 0.09%.

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