) is the second largest bank in the U.S. with $2.28 trillion in total assets as of end of 2017. The following are the top four largest mutual fund holders of Bank of America.
Vanguard Total Stock Mkt Idx Inv (VTSMX)
The largest mutual fund holder, the Vanguard Total Stock Mkt Idx Inv (VTSMX), owns 240 million shares or 2.36% of Bank of America, as of March 31, 2018. This mutual fund was created in 1992 and intends to give broad exposure to the total US. stock market by including small-, mid-and large-cap growth and value stocks. The fund has $672 billion under management, with a 17.04% allocation to the financial services sector as of March 31, 2018. Its Bank of America holding is just 1.14% of its total portfolio.
Vanguard 500 Index Inv (VFINX)
The Vanguard 500 Index Inv (VFINX) is the second-largest mutual fund holder of Bank of America with 169.5 million shares or 1.66% in the…