So here’s a question for financial types

How do I find out the percentage of ARM Holdings stock that was non-UK ownership before the Softbank bid?

I can see that there’s an ADR. That would be a useful proxy if there’s no other way to do it. So, how to find out what percentage of ARM stock was in ADRs?

9 thoughts on “So here’s a question for financial types”

  1. With great difficulty. ARM should file a list of shareholders at companies house but has used an exemption to duck doing so for the last three years. Major shareholdings, including the bank in whose name ADRs are registered should be listed in the Director’s Report – this year it lists five major shareholders but not the ADR nominee.
    Largest shareholder is Baillie Gifford with 10%, the other four with 18% between them, are American fund management houses (but probably some holders of Fidelity and Blackrock funds are British). All UK index funds should hold ARM so presumably ARM is majority UK-owned but it would take hours to dig out some useful info.

  2. Quite so – you can’t really because even the lodged information will be out of date.

    A lot of ARM is held by funds so you then have to ask who owns the funds and if companies invest in those funds who owns the companies that own the fund that own the shares.

    Given the nature of modern share trading, it’s a nonsense question really because the answer is “Nobody knows”

    (I’m a Chartered Accountant, by the way)

  3. There’s still a question of definitions. If a Briton living in Portugal holds ARM shares, do you count that as UK ownership or non-UK ownership? There’s no meaningful answer.

  4. Bloomberg (and presumably other info services) have a list of the top holders, which are (obviously) normally mutual funds, hedge funds, pension funds etc. But as per Dioclese, that doesn’t reveal the ultimate owners.

  5. Roughly, find the number of ADRs / GDRs outstanding, Bloomberg should also have the number of shares per receipt. Bit rough and ready tho’ as have seen funds hold both local and foreign stock in the past.

  6. Devil’s Kitchen

    All I can say is that an insignificant amout of stock (to ARM) and a significant amount of stock (to me) was held by your humble Devil.

    Nice.

    DK

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