Will Wells Fargo’s Whale-Sized Shareholders Add to Their Colossal Positions?

For the year-to-date, Wells Fargo & Company (NYSE:WFC) shares are up 15 percent. On Tuesday, the company reached an agreement with Memphis and Shelby County in Tennessee from a December 2009 discriminatory lending practices lawsuit against the bank.

The city and county have dismissed the federal suit according to a statement from the bank. The suit had alleged the lender focused on minority communities for predatory practices that ended in high-risk subprime loans; a greater number of foreclosures occurred in these areas.

From the dismissal, Wells Fargo will invest $7.5 million in the city and county for the assistance with mortgage down payments and home renovations and for the advancement of programs that will improve economic vitality and raise financial literacy, reported Bloomberg.

With the dismissal of the lawsuit and Wells Fargo’s financial commitment to the community, will the bank’s largest shareholders increase their holdings? 1469 institutional firms indicated owning shares of Wells Fargo & Company (NYSE:WFC) in Q1 2012. These firms reported owning a total of 3.84 billion shares on 03/31/2012. The shares closed at $33.92 on 03/31/2012.

Here are the ten largest positions in Wells Fargo & Company at the end of March 31st, 2012.

Berkshire Hathaway Inc held 394,334,928 shares on 03/31/2012 worth $13,462,594,201. This brought the portfolio total to 17.88%.

Vanguard Group Inc held 207,021,455 shares on 03/31/2012 worth $7,067,712,347. This brought the portfolio total to 0.95%.

State Street Corp held 196,252,997 shares on 03/31/2012 worth $6,700,077,198. This brought the portfolio total to 1.03%.

Capital World Investors held 167,454,374 shares on 03/31/2012 worth $5,716,892,226. This brought the portfolio total to 2.01%.

Wellington Management Co LLP held 135,840,424 shares on 03/31/2012 worth $4,637,591,992. This brought the portfolio total to 1.63%.

Blackrock Institutional Trust Company N.A. held 131,551,546 shares on 03/31/2012 worth $4,491,169,700. This brought the portfolio total to 1.03%.

Davis Selected Advisers held 93,818,284 shares on 03/31/2012 worth $3,202,956,158. This brought the portfolio total to 6.67%.

Dodge & Cox held 91,183,411 shares on 03/31/2012 worth $3,113,001,596. This brought the portfolio total to 3.99%.

JPMorgan Chase & Co held 89,223,359 shares on 03/31/2012 worth $3,046,085,422. This brought the portfolio total to 1.23%.

Bank of New York Mellon Corp held 68,522,735 shares on 03/31/2012 worth $2,339,366,131. This brought the portfolio total to 0.89%.

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