State Street owns 5% of Silicon Valley Bank stock per Yahoo finance, under the Institutional Holders column. That 326,888,980 shares that just went to zero $ - total loss. Thats going to hurt the bottom line. I know State Street is related to DST and Mr. Stone and it will effect DST and cause layoffs at a faster pace.
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I don’t believe State street actually owns 5% of Silicon Valley bank. State Street Advisors, a subsidiary of State Street, is one of the leading money managers in the world. Their CUSTOMERS may own 15% of the Silicon Valley stock outstanding, but that does not mean State Street Advisors own any stock. Using your source of Yahoo Finance, look at the top ten owners of Silicon Bank stock. For Example, Vanguard owns 10% of the Silicon Valley stock. But the stock is not owned by Vanguard, but is held in some of their Fund’s portfolios such as Vanguard S&P 500 fund, Vanguard Total Index Fund, etc.
When you look down the list of the top 10 holders of Silicon Valley stock they are all money Managers - Vanguard, Fidelity, Blackrock, Capital Research (AKA the American Funds) and yes State Street Advisors. These companies themselves probably had little (if any) corporate ownership of Silicon Valley. It is the funds that these companies manage their portfolio that suffered the losses. Primarily these entities are ETFs,pension plans, etc.
State Street could possibly fail and so could dst parent company
State street's own stock is way down too.
State street is gonna lose huge amounts of money. Will they start selling off business units?
Yes I can see that they own silicon valley bank stock and SI stock too, it's silvergate.